SAPA & Associates Jaipur

30/12/2024

Finally Achived a New Mile Stone…
MoU with GoR done…..

21/08/2024

Looking for Graduates/ Post Graduates/ Semi-qualified CA/CMA (drop out only) for CA Office

Fresher or 1-2 year experience in Income Tax, GST, Company Law, Audit and Accounting

Location - Mahaveer Nagar, Tonk Road, Jaipur

Mail resume with current and expected CTC at
[email protected]

03/05/2024

We are looking for Graduates/ Post Graduates/ Semi-qualified CA/CMA (drop out only)* for CA Office having experience in Income Tax, GST, Company Law, ROC, Audit and Accounting in Tally

Location - Tonk Road, Jaipur

Salary – Depends on Knowledge

If interested mail your resume with current and expected CTC, notice period at
[email protected]

29/03/2024

*Basic checklist for 31st March, 2024.*

*Income Tax:*
1. Make necessary investments eligible for deductions thereby reducing taxable income for FY 2023-24 and ultimately save tax. (Eg: PPF, LIC, ELSS Mutual Funds, Health Insurance, etc..).
2. Calculate tax liability and pay necessary advance tax.
3. Last chance to file updated income tax return for FY 20-21 by paying 50% additional tax.
4. Last chance to file updated income tax return for FY 21-22 by paying only 25% additional tax; thereafter, it would increase to 50% additional tax.
5. Ensure 43B(h) compliance which deals with timely payment to Micro and Small Enterprises.
Such payments have to be made within 45days/15 days as applicable.
6. If turnover for FY 2023-24 exceeds Rs. 10 Crores, then, TDS provisions under section 194Q, TCS provisions under section 206C(1H) will become applicable for FY 2024-25.
7. Obtain declarations from transporters for non-deduction of TDS under section 194C.
8. Reconcile and/or account for the TDS and TCS credit in books of accounts.

*Goods and Services Tax:*
1. File Letter of Undertaking (LUT) for FY 2024-25. LUT has to be filed if you make exports of goods/services or supplies to SEZ units/developers without payment of IGST.
2. Application to opt for composition scheme for FY 2024-25.
3. GTA services providers need to file a declaration for opting to pay tax under forward charge mechanism for FY 2024-25. Recipient are recommended to obtain and maintain a record of such declaration from GTA to justify non-payment of tax under reverse charge mechanism.
4. If turnover for FY 2023-24 has exceeded Rs. 5 Crores for the first time since inception of GST, then, generate and issue E-Invoice for supplies from 01st April, 2024.
5. If payments to creditors are due for more than 180 days, then, reverse the input tax credit availed on such transactions.
6. Start new invoice series from 01st April, 2024, unique for FY 2024-25.
7. Reconcile the data filed in GST returns with books of accounts and pass necessary entries, if any. (Eg: Reconcile the turnover, Match balance in Electronic Credit/Cash Ledger with books of accounts, make necessary adjustment to ITC available in books but not appeared in GSTR-2B, reverse the excess ITC claimed, if any, discharge the RCM liability if any, missed during the year, etc…)
8. Reconcile and/or account for the GST-TDS and GST-TCS credit in books of accounts.

*Others:*
1. Make necessary year end provisions. Also, account for depreciation, amortization.
2. Verify closing stock, cash balance, bank balance, inter branch balance.
3. Collect FD statements from bank and account interest income.
4. Double check the statutory compliances on all the transactions. (Eg: TDS, TCS, RCM)
5. Account for foreign exchange fluctuations.
6. Balance Confirmation with third parties.

*P.S.😗
1. The post is neither an opinion nor an advice in any manner.
2. This is a general, inclusive list and not exhaustive.

*Regards*
*S A P A and Associates*
*CA Pushpendra Agarwal*
*+91-96729-88778*
[email protected]

12/11/2022

26/06/2022

*S A P A and Associates*
Chartered Accountants

*Vacancy for Semi-Qualified CA & Graduates*

Manager - Audit & Tax Compliance, Junior Associate

Location- Jaipur, Bharatpur

Eligibility- Semi- Qualified CA / CA Dropouts /Graduates - Experienced and Fresher

CTC : 1.20 to 2.40 Lakh per Annum. (Yearly revisions based on performance.)

Interested candidates are required to send CV at [email protected]

01/02/2021

Please find below Highlights of *Union Budget 2021-22*.

*General*
1. First digital Budget in the history of India
2. Vehicle Scrapping Policy. Vehicle Fitness Test after 20 years in case of Personal vehicle and 15 years in case of commercial vehicles
3. 64,180 crores allocated for New Health Schemes
4. 35,000 crores allocated for Covid Vaccine
5. 7 Mega Textile Investment parks will be launched in 3 years
6. 5.54 lakh crore provided for Capital Expenditure
7. 1.18 lakh crore for Ministry of Roads
8. 1.10 lakh crore allocated to Railways
9. Proposal to amend Insurance Act. Proposal to increase FDI from 49% to 74 %.
10. Deposit Insurance cover (DICGC Act 1961 to be amended). Easy and time bound access of deposits to help depositors of stress banks.
11. Proposal to revive definition of ‘Small Companies’ under Companies Act 2013. Capital less than 2 Cr. and Turnover Less than 20 Cr.
12. Disinvestment: IPO of LIC, Announced Disinvestment of Companies will be completed in FY 2021-22

*Direct and Indirect tax*
1. Senior Citizens: Reduced Compliance burden. 75 years and above. Proposal not to file ITR if only pension income and interest income.
2. Reduction in time for IT Proceedings: Reopening of Assessments period reduced from 6 years to 3 years except in cases of serious tax evasion cases
3. Proposal to constitute ‘Dispute Resolution Committee’. (Taxable income 50 lakhs and disputed income 10 lakh).
4. National Faceless Income Tax Appellate Tribunal Centre
5. Relaxations to NRI: Propose to notify rules for removing hardship for double taxation.
6. Tax Audit Limit: Proposal of tax audit increased from 5 Cr. to 10 cr. (Only for 95% digitized payments business)
7. Propose to provide relief on advance tax liability on dividend income.
8. Propose to include tax holidays for Aircraft leasing companies
9. Prefiling of returns (Salary, Tax payments, TDS etc.) Details of Capital gains from listed Securities, dividend income, etc. will be prefilled
10. Small Charitable Trusts. Increased from 1 crore to 5 crores (Compliance limit)
11. Late deposit of employee’s contribution by employer will not be allowed as deduction
12. Incentive to startup: Tax holiday exemption for one more year
13. Duties reduced on various textile, chemicals and other products
14. Gold and Silver (BCD reduced)
15. Agriculture Products: Custom duty increased on cottons, silks, alcohol etc.

Thanks and Regards
Agarwal Pushpendra
*S A P A and Associates*
Chartered Accountants

01/01/2021

Dreams have no expiry date..
life has no pause button...!
So
Live it..
Love it..
Enjoy each and every moment of your life....!!
Save only those memories which gives twinkle in your eyes...
Not wrinkles on your face...!!

Have a Fantastic, Peaceful and Prosperous New Year..

With Warm Regards
Agarwal Pushpendra
*S A P A & Associates*
Chartered Accountants

30/03/2020

सम्मानीय,
*14 अप्रेल तक करीब करीब पूरे इंडिया को लॉकडाउन किए जाने के कारण प्रतिदिन कमाई के भरोसे रोजी रोटी पाने बाला कोई भी व्यक्ति भूखा ना सोये* उनके लिए फोर्टी द्वार राजस्थान मेँ मुहिम चलाई जा रही है, कोई भी व्यक्ति या कम्पनी इस पुनीत कार्य में सहयोग करना चाहते है तो कृपया नीचे लिखे खाता नम्बर मेँ अपना दान भेज सकते है मुहिम को अपने वाटस्प ग्रुप एवं फेसबूक पर डालकर अपने परचितो एवं मित्रों को भी इस पूनीत कार्य से जोड़ें 🙏
धन्यवाद,
Payment will be in favoring of “FEDERATION OF RAJASTHAN TRADE & INDUSTRY”
Branch Address: Bank of Baroda, Udyog Bhawan, Jaipur
Account No. 14630100007300
IFSC code: BARB0JAICOM
For other assistance don’t hesitate to contact us on +91 9214007205

आयकर अधिनियम 1961 की धारा 80जी के अंतर्गत छूट ।

Pushpendra Agarwal
Executive Member, Forti

22/01/2020

Ministry of Finance
Now the GST Taxpayers can file their GSTR-3B Returns in a Staggered Manner
Posted On: 22 JAN 2020 6:29PM by PIB Delhi
Considering the difficulties faced by trade and industry in filing of returns, the government has decided to introduce several measures to ease the process. The Finance Ministry today said that now GST taxpayers can file their GSTR-3B returns in a staggered manner.

Presently the last date of filing GSTR-3B returns for every taxpayer is 20th of every month. From now on, the last date for filing of GSTR-3B for the taxpayers having annual turnover of Rs 5 crore and above in the previous financial year would be 20th of the month. Thus, around 8 lakh regular taxpayers would have the last date of GSTR-3B filing as 20th of every month without late fees.

The taxpayers having annual turnover below Rs 5 crore in previous financial year will be divided further in two categories. The tax filers from 15 States/ UTs, i.e., Chhattisgarh, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Lakshadweep, Kerala, Tamil Nadu, Puducherry, Andaman and Nicobar Islands, Telangana and Andhra Pradesh will now be having the last date of filing GSTR-3B returns as 22nd of the month without late fees. This category would have around 49 lakh GSTR-3B filers who would now have 22nd of every month as their last date for filing GSTR-3B returns.

For the remaining 46 lakh taxpayers from the 22 States/UTs of Jammu and Kashmir, Laddakh, Himachal Pradesh, Punjab, Chandigarh, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, Bihar, Sikkim, Arunachal Pradesh, Nagaland, Manipur, Mizoram, Tripura, Meghalaya, Assam, West Bengal, Jharkhand and Odisha having annual turnover below Rs 5 crore in previous financial year will now be having last date of filing the GSTR-3B as 24th of the month without late fees.

The Finance Ministry said that the necessary notification in this regard would be issued later by the competent authority.

In a statement issues, the Ministry further said that it has also taken a note of difficulties and concerns expressed by the taxpayers regarding filing of GSTR-3B and other returns. The matter has been discussed by the GSTN with Infosys, the Managed Service Provider, which has come out with above solution to de-stress the process as a temporary but immediate measure. For further improving the performance of GSTN filing portal on permanent basis, several technological measures are being worked out with Infosys and will be in place by April 2020.

01/01/2020

May each day of NEW YEAR bring happiness, excitement and sweet surprises on your doorstep!
All your dreams turn into reality & efforts into great achievements.

Wishing you and all your dear ones a fabulous NEW YEAR

With Regards
Agarwal Pushpendra
S A P A & Associates

23/08/2019

Finance Minister comes out with major Changes to boost Economy & to stem Economic slowdown

1. Home & Auto Loans to become cheaper
2. Surcharge on FPIs & Domestic Investors removed
3. No surcharge on Cap Gains
4. On closure of loans you will get back your Original Docs within 15 days
5. Rs. 70,000 Cr to be pumped in PSUs immediately
6. Rs. 20,000 crores additional liquidity support to Housing Finance Companies
7. NBFCs may now use AADHAAR Linked KYC
8. All Pending GST refunds to be cleared within 30 days ; all future refunds to be cleared within 60 day ; this is HUGE
9. MSME definition revised ; single definition of MSME
10. Bond market Reforms with attempt to deepen the bond market
11. Access to foreign capital via ADR & GDR made easier
12. AADHAR based KYC can be used to open demat account & invest in Mutual Funds
13. Offshore Rupee market in domestic Stock Exchange
14. INFRASTUCTURE : Delayed payment from Govt to infra players shall be cleared asap & looked into asap & payment released
15. After Arbitration: 75% of Awards shall be released
16. AUTO Sector: BS IV vehicles purchased till 2020 March shall remain operational till registration
17. Revision of one time registration: deferred till June 2020
18. All vehicles acquired from now till Mar 2020 will enjoy additional 15% depreciation
19. EVs & Internal Combustion vehicles shall continue to be registered
20. Govt to lift ban on purchase of new vehicles to replace old ones
21. Scrappage policy to be revisited

With regards
Agarwal P
S A P A & Associates