V K Patawari & CO - CA Firm

08/08/2026

What should you check before filing GST returns?

Filing your monthly GST return without proper checks can lead to tax notices, delayed tax credits, or extra interest fees.

Think of it like balancing a personal checkbook before making a payment—if your bill says you owe Rs.100 but your receipts show Rs.80, paying without checking causes unnecessary loss.
To avoid this, businesses must do three essential checks before the 20th of every month: verify that all outgoing sales invoices in your books match your GSTR-1, cross-check vendor purchase bills against your auto-generated GSTR-2B to claim only valid Input Tax Credit (ITC), and calculate your net tax liability carefully.

06/08/2026

𝐖𝐞’𝐫𝐞 𝐇𝐢𝐫𝐢𝐧𝐠: 𝐀𝐫𝐭𝐢𝐜𝐥𝐞 𝐀𝐬𝐬𝐢𝐬𝐭𝐚𝐧𝐭𝐬! 💼
𝐒𝐭𝐚𝐫𝐭 𝐲𝐨𝐮𝐫 𝐂𝐀 𝐉𝐨𝐮𝐫𝐧𝐞𝐲 𝐰𝐢𝐭𝐡 𝐕 𝐊 𝐏𝐀𝐓𝐀𝐖𝐀𝐑𝐈 & 𝐂𝐎.! 📊
We are looking for bright Article Assistants.
Requirements:
🎓 CA Intermediate (Both Groups Cleared)
💻 Completed IT and OC Training

If you are eager to learn, grow, and succeed, we want to hear from you!
📩 How to Apply: Send your CV to [email protected]

Learn today. Lead tomorrow. 🚀

02/08/2026

What is the turnover limit for income tax audit?

​A tax audit is mandatory if your business turnover exceeds ₹1 Crore or professional income exceeds ₹50 Lakh in a financial year.

However, if your cash transactions are within 5%, this limit goes up to ₹10 Crore for businesses and ₹75 Lakh for professionals.

​Small businesses and professionals can easily avoid a tax audit by choosing presumptive taxation. Under this scheme, businesses earning up to ₹2 Crore (or ₹3 Crore with digital payments) and professionals earning up to ₹50 Lakh (or ₹75 Lakh digitally) can simply declare minimum fixed profits without maintaining detailed accounting books.

​

30/07/2026

25/07/2026

Which bank account should an NRI use for income earned outside India?

If you earn income outside India, an NRE (Non-Resident External) account is the best choice. It allows you to deposit foreign currency, easily transfer funds back abroad without limits, and enjoy completely tax-free interest in India. On the other hand, if you have income generated within India (like rent, dividends, or local investments), you must use an NRO (Non-Resident Ordinary) account, which is taxable as per your income tax slab.

Under FEMA rules, NRIs cannot continue holding regular resident savings accounts, so converting or opening the right NRE/NRO account is mandatory to stay compliant and avoid RBI penalties.

20/07/2026

Which business structure is best for a startup in India?

Starting a business is exciting, but choosing the right legal structure is one of the most important decisions you'll make.

Whether it's a Proprietorship, LLP, or Private Limited Company, each option comes with different benefits, compliance requirements, and growth opportunities.

At V. K. Patawari & Co., Chartered Accountants, we help entrepreneurs transform ideas into legally compliant and growth-ready businesses.

📍 Kolkata | Chartered Accountants

incorporation

15/07/2026

How to report foreign assets in ITR?

Foreign bank accounts, investments, RSUs, and ESOPs now auto-populate directly in your Annual Information Statement (AIS). To report them correctly, you must ensure all details are accurately declared under Schedule FA when filing your Income Tax Return (ITR). Reconciling your AIS data with your ITR is essential to maintain full financial transparency and prevent immediate tax scrutiny notices.

13/07/2026

🌟 Introducing Our Star Achiever Series!

At VKP, we believe that hard work, consistency, and dedication deserve to be celebrated.

We're proud to recognize our first Star Achiever for outstanding performance and commitment. Congratulations on this well-earned milestone! 👏

Here's to many more achievements, growth, and success together.

11/07/2026

📋 Income Tax Return Filing is not just about meeting the due date—it is about ensuring accuracy, compliance, and peace of mind.

Before filing your ITR, take a few minutes to review the key checkpoints covered in this checklist. Verifying your AIS, Form 26AS, TDS credits, deductions, capital gains, and bank account details can help prevent notices, refund delays, and reporting mismatches.

Whether you are a salaried employee, business owner, professional, investor, or senior citizen, a thorough review before filing can make all the difference.

💡 Save this checklist for future reference and share it with someone who is yet to file their Income Tax Return.

Connect with V. K. Patawari & Co., Chartered Accountants, Kolkata.

📧 [email protected]
🌐 www.vkpatawari.com