Agrawal S R & Associates

Agrawal S R & Associates Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Agrawal S R & Associates, Accountant, Dahi wali gali, Bharatpur.

Income Tax, GST Registration & Returns, Accounting, Statutory Audit, Tax Audit, GST Audit, Internal & Concurrent Audit, Companies Registrations and ROC Compliances, Finance and CMA report projections and other ancilliary services

07/08/2026

Bank Statement ≠ Income | Every Credit Is Not Taxable Income

क्या आपके bank account में पैसा credit हुआ है और आपको लगता है कि वह automatically आपकी taxable income बन गया? ऐसा जरूरी नहीं है।

Income Tax के लिए किसी bank credit की taxability केवल इस बात पर depend नहीं करती कि account में कितना पैसा आया, बल्कि transaction की actual nature और source महत्वपूर्ण होते हैं।

उदाहरण के लिए, bank statement में निम्न प्रकार के credits दिखाई दे सकते हैं:

🔹 Family transfers – loan, gift या personal transfer
🔹 Loan received – bank/friend से लिया गया loan
🔹 Loan repayment – पहले दिए गए loan की वापसी
🔹 Advance/booking amount – transaction की nature के अनुसार
🔹 Refunds – TDS, GST, insurance आदि के refunds
🔹 Own-account transfers – अपने ही दूसरे bank account से transfer

इन सभी credits को केवल bank statement में दिखाई देने के आधार पर taxable income नहीं माना जा सकता।

वहीं दूसरी ओर, business/professional receipts, sale of goods/services, rent, taxable interest, capital gains आदि income की nature में हो सकते हैं और इनका सही tax treatment ITR में करना आवश्यक है।

📌 इसलिए ITR file करने से पहले:

✔️ हर major bank credit का source और nature identify करें
✔️ Loan/gift/other transactions के लिए proper documentation maintain करें
✔️ Business receipts को books और GST records से reconcile करें
✔️ AIS, Form 26AS और bank transactions को review करें
✔️ ITR में income की correct r

06/08/2026

📩 Received an Intimation under Section 143(1)? Don't Panic!

A processing intimation under Section 143(1) is one of the most common communications issued by the Income Tax Department after your Income Tax Return (ITR) is processed.

The good news?
Receiving a 143(1) intimation does not mean that your case has been selected for scrutiny. It is simply the department's way of informing you about the outcome of processing your return.

What should you do after receiving a 143(1) Intimation?

✅ Read the intimation carefully.
Check whether there is any tax demand, refund, or adjustment made by the department.

✅ Compare the details.
Match the computation with your ITR, Form 26AS, AIS/TIS, Form 16, and tax payment challans.

✅ If everything is correct:
Pay the outstanding demand (if any) within the prescribed time to avoid additional interest and recovery proceedings.

✅ If you find an apparent mistake:
File a Rectification Request under Section 154 through the Income Tax Portal.

✅ If the return itself requires correction:
Rectification may not be sufficient. Depending on the nature of the error, consider filing an Updated Return, if eligible under the Income Tax Act.

Common reasons for receiving a tax demand

• TDS mismatch
• Tax payment not considered
• Incorrect deduction/exemption claim
• Income mismatch with AIS/26AS
• Calculation or reporting errors

⚠️ Never ignore a valid 143(1) intimation. Ignoring it may result in:

Interest on the outstanding demand

Adjustment of future income tax refunds

Recovery proceedings by the department

💡 Pro Tip: Always reconcile your ITR with AIS, Form 26AS, Form 16, and tax payment records before taking any action.

Save this post for future reference and share it with someone who has recently filed their Income Tax Return.

31/07/2026

⏰ Last Date Alert!

Today is the last date to complete these important compliances:

✅ ITR Filing (AY 2026-27)
✅ GST Turnover Update on GST Portal
✅ TDS Return Filing (Q1)
✅ TCS Return Filing (Q1)

Don't wait until the last minute. File today and avoid late fees, interest & penalties.

Stay compliant. Stay stress-free.

LastDate IncomeTax GSTPortal AsaraFinancialGuide

31/07/2026

🚨 Claiming Transport Allowance Exemption under Section 10(14)(ii)? Read this before filing your ITR!

Nowadays, many taxpayers are claiming exemption under Section 10(14)(ii) simply because they see "Transport Allowance" or "Allowance u/s 10(14)" in their salary details or while filing the ITR.

But this exemption is NOT available to every salaried employee.

As per the Income-tax Act read with Rule 2BB, the exemption for Transport Allowance (up to ₹3,200 per month) is available only to specified eligible employees, namely:

✅ Employees who are Blind (Visually Impaired)
✅ Employees who are Deaf and Dumb (Hearing & Speech Impaired)
✅ Employees who are Orthopedically disabled with disability of lower extremities

The exemption is granted to help such employees meet the additional cost of commuting between their residence and place of work.

❌ If you are a regular salaried employee using your own vehicle, cab, bike, metro or office transport, you cannot claim this exemption merely because you receive a transport allowance.

Before claiming this exemption, make sure:

✔️ You fall under the specified category of eligible employees.
✔️ The allowance has actually been paid by your employer.
✔️ Your Form 16 correctly reflects the exemption.
✔️ You are eligible to claim it under the applicable tax provisions.

⚠️ Claiming exemptions without checking eligibility may lead to additional tax demand, interest and penalties during assessment or scrutiny.

Always verify the law before claiming any exemption—don't rely on social media posts, YouTube videos or pre-filled ITR suggestions alone.

💬 Need help understanding whether an exemption is actually available to you? Feel free to reach out.

SalaryIncome TaxPlanning CharteredAccountant IncomeTaxIndia TaxCompliance AsraYourFinancialGuide

17/07/2026

सोचा था किसी को पता नहीं चलेगा... फिर AIS खुल गया 😂📊

17/07/2026

💰 Income Tax on Bonus Shares – What Every Investor Should Know!

Receiving bonus shares is always exciting, but many investors are confused about their tax implications.

Here's the good news: Bonus shares are NOT taxable when they are allotted to you. 🎉

However, this doesn't mean they are completely tax-free. Here's how taxation works:

✔️ No tax at the time of allotment – Receiving bonus shares is not treated as income.

✔️ Holding period starts from the date of allotment – This determines whether your gain will be Short-Term or Long-Term when you sell.

✔️ Tax is payable only when you sell the bonus shares – The profit on sale is taxed under the Capital Gains provisions (STCG/LTCG, as applicable).

💡 Example:
Suppose you receive 100 bonus shares. There is no tax when these shares are credited to your demat account. If you later sell them, capital gains tax will apply based on the applicable provisions and your holding period.

📌 Key Takeaway:
Bonus Shares = No Tax on Receipt.
Tax arises only on Sale.

Proper tax planning can help you avoid mistakes while filing your Income Tax Return.

📩 Have questions about Capital Gains & Share Market Taxation - Let us know in the comment section..

ShareMarket StockMarket ITR TaxPlanning Investing FinancialPlanning TaxAdvisor ASRA YourFinancialGuide

📢 ICAI UpdateICAI has announced the applicability of Guidance Notes for Financial Statements of Non-Corporate Entities &...
04/04/2026

📢 ICAI Update

ICAI has announced the applicability of Guidance Notes for Financial Statements of Non-Corporate Entities & LLPs.

✨Effective:
🔹 From 1 April 2025 – Turnover above ₹5 Crore
🔹 From 1 April 2026 – Applicable to all entities

Businesses and professionals should prepare in advance for updated reporting and disclosure requirements.

3 of New Series – Tax Year 2026-27 📘AY & PY ka confusion finally khatam! 🙌Income Tax Act 2025 introduces a simple conc...
03/04/2026

3 of New Series – Tax Year 2026-27 📘

AY & PY ka confusion finally khatam! 🙌
Income Tax Act 2025 introduces a simple concept — TAX YEAR.

✅ Earlier (1961 Act):
Income earned in Previous Year
Tax assessed in Assessment Year
➡️ Do alag terms = unnecessary confusion.

✨ Now (2025 Act):
✔ Only ONE term – Tax Year
✔ Income year = Tax reference year
✔ Easy understanding & simplified compliance.

📌 Example:
Income earned in 2026–27 👉 Tax Year 2026–27 (Bas itna simple)

👉 Save for future reference & follow for simplified tax updates.

🚨 New Income Tax Act 2025 – Key Change Explained!👉 of New Series : Tax Year 2026-27Ab tak aap Form 16 use karte the, l...
02/04/2026

🚨 New Income Tax Act 2025 – Key Change Explained!

👉 of New Series : Tax Year 2026-27

Ab tak aap Form 16 use karte the, lekin 1 April 2026 se ek naya format introduce ho raha hai – Form 130 📄

🔍 Kya change ho raha hai?
➡️ Form 16 ka naam change hoke Form 130 ho jayega
➡️ Salary breakup ab aur detailed & component-wise milega
➡️ Deductions (80C, 80D etc.) ke liye ab Proof PIN / ID dena hoga
➡️ Form ka structure zyada organized & ITR-friendly banega
➡️ Employer details me ab Contact + PAN + TAN clearly mention hoga

💡 Kya same rahega?
✔️ Ye ab bhi TDS Certificate hi rahega
✔️ Salary tax rules me koi change nahi
✔️ Har saal ki tarah issue hoga

📌 Sabse important baat:
❌ Tax me koi change nahi hai
✅ Sirf transparency aur clarity badhayi gayi hai

📅 Effective from: 1 April 2026
👉 Applicable for Tax Year 2026-27

Agar aap salaried employee ho ya accounts/tax field me ho, ye update samajhna bahut important hai 👍

💬 Save karo, share karo aur follow karo for more easy tax updates!

📢 BIG TAX UPDATE | 2026-27👉 of New Series : Tax Year 2026-27Form 15G & 15H ❌Now replaced by ✅ Form 121 (Single Unified...
01/04/2026

📢 BIG TAX UPDATE | 2026-27
👉 of New Series : Tax Year 2026-27

Form 15G & 15H ❌
Now replaced by ✅ Form 121 (Single Unified Form)

✔️ One form for all eligible taxpayers
✔️ Centralised system = less hassle
✔️ Same conditions (Nil tax liability & income within limit)

⏳ Applicable from Tax Year 2026-27

Address

Dahi Wali Gali
Bharatpur

Opening Hours

Monday 10am - 7pm
Tuesday 10am - 7pm
Wednesday 10am - 7pm
Thursday 10am - 7pm
Friday 10am - 7pm
Saturday 10am - 7pm
Sunday 11:30am - 2pm

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