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Ushma & Associates
Complete Guide to Form 145 & Form 146 for Repatriation of Funds
The Income Tax Rules, 2026 introduced Form 145 and Form 146, replacing the earlier Form 15CA and Form 15CB from 1 April 2026. These forms are mandatory for specified foreign remittances and play an important role in ensuring tax compliance before funds are transferred outside India. The new forms continue the existing compliance framework while...
Common TDS Filing Errors And How To Correct Them
Tax Deducted at Source (TDS) is an important compliance requirement under the Income Tax Act. Businesses, employers, and other deductors must deduct tax, deposit it with the government, and file TDS returns within the prescribed timelines. Even minor mistakes in TDS returns can result in notices, defaults, penalties, and difficulties for deductees...
Common Mistakes While Filing GSTR-3b And How To Avoid Them
GSTR-3B is a monthly or quarterly summary return that registered taxpayers must file under the Goods and Services Tax (GST) regime. It contains details of outward supplies, inward supplies liable to reverse charge, Input Tax Credit (ITC) claimed, and tax payments made during the tax period. Errors in GSTR-3B can lead to notices, interest...
TDS vs Advance Tax – Understanding the Difference in a Practical Way
Many taxpayers often get confused between TDS (Tax Deducted at Source) and Advance Tax. While both are methods of paying income tax during the financial year, they differ significantly in terms of who pays the tax, when it is paid, and how it is calculated. Understanding this difference is essential to avoid interest, penalties, and […]
Tcs (Tax Collected At Source): Rates, Rules, And Compliance Simplified
In many transactions, tax is not only deducted but also collected at the point of sale. This concept, known as Tax Collected at Source (TCS), places responsibility on the seller to collect tax from the buyer and deposit it with the government. Understanding TCS is essential for businesses dealing in specified goods or transactions, as […]
Residential Status in India – Complete Practical Guide
Many taxpayers assume that their passport or citizenship determines their tax liability in India. In reality, this is not correct. Under the Income Tax Act, 1961, it is your residential status that decides how much tax you need to pay and on what income. Whether you are a resident, NRI, or someone frequently travelling in […]
ITR Filing Checklist for FY 2025–26: What to Keep Ready Before You File
Filing your Income Tax Return (ITR) becomes significantly easier when you are well-prepared in advance. Missing documents or incorrect details can lead to delays, notices, or even rejection of your return. A structured checklist ensures that all necessary information is in place, helping you file accurately and claim the correct deductions and...
GST vs Income Tax: Clear Understanding of Two Core Tax Systems in India
India’s taxation framework is built on multiple layers, with GST (Goods and Services Tax) and Income Tax being two of the most important components. While both are essential for revenue collection, they are fundamentally different in their nature and application. A clear understanding of these differences is important for individuals and...
GST Compliance Calendar 2026–27: Complete Guide to Due Dates & Filing Requirements
GST compliance is a continuous responsibility for businesses, and missing deadlines can result in interest, penalties, and late fees. With multiple returns, forms, and timelines involved, it becomes essential to stay organized and proactive. The GST Compliance Calendar for FY 2026–27 is designed to help businesses track key due dates, plan tax...

