:: Welcome Rajesh Shankar & Associates ::

Welcome to
Rajesh Shankar & Associates

Rajesh Shankar & Associates was established in the year 1993. It is a leading chartered accountancy firm rendering comprehensive professional services which include audit, management consultancy, tax consultancy, accounting services, manpower management, secretarial services etc.

Rajesh Shankar & Associates is a professionally managed firm. The team consists of distinguished chartered accountants, corporate financial advisors and tax consultants. The firm represents a combination of specialized skills, which are geared to offers sound financial advice and personalized proactive services. Those associated with the firm have regular interaction with industry and other professionals which enables the firm to keep pace with contemporary developments and to meet the needs of its clients.

OUR TEAM MEMBERS

Our dedicated team comprises of competent people with extensive knowledge and experience. Our professionalism and expertise helps us to service our clients to their satisfaction. Some of the key members of our firm are:

News

05 Nov 24
Income Tax Department Receives 6500 Stakeholder Suggestions for Overhaul of IT Act, 1961
CBDT Allows Electronic Filing of Forms 3CEDA and 3C-O Via Notification No. 5/2024
Delhi HC: Two Judgment Orders Against One SCN Cannot Be Accepted for the Same Period
No GST Returns Will Be Accepted If Filed More Than 3 Years Past Their Due Date
04 Nov 24
CBIC Issues New Guidelines to Balance Tax Evasion Investigations with Ease of Doing Business in Import and Export
GST IMS Dashboard: New Guidelines for `Deemed Acceptance` and Record Handling
03 Nov 24
Important Income Tax Forms Due by November 30, 2024
India’s GST Revenue Hits ?1.87 Lakh Crore in October with 9% Growth
New GST Amnesty Scheme Effective November 1: Know about Important Deadlines and Benefits
02 Nov 24
Kerala HC Rejects Tax Reassessment Order After Assessee Was Given Only 3 Days to Respond to SCN
GST Collection Hits Rs 1.87 Lakh Crore in October, Second-Highest Ever Boosted by Domestic Sales
01 Nov 24
CBDT Grants Delay Condonation for AY 2023-24 Income Returns Claiming Section 80P
ICAI and CAs: Supporting India`s Journey to Become a $30 Trillion Economy by 2047
CBDT Notifies Transfer Pricing Tolerance Range for AY 2024-25 Under Rule 10CA
23 Oct 24
GST Registration for Metal Scrap Buyers: GSTN issues Advisory on GST REG-07
Income Tax Department Releases Updated ITR-3 Utility Excel-Based Tool
GSTN Introduces Bank Account Validation for Non-Core Amendments
Income Tax Department Releases Updated Common Offline Utility for Form 3CA-3CD and 3CB-3CD
22 Oct 24
IMS May Add an Extra Compliance Layer for GST Taxpayers, Say Experts
GST Exemption on Premiums? The Council Will Make a Final Decision on Whether to Grant Benefits
Pre-filled GSTR-3B: A Hard-locking System for GST Liability
Rajasthan AAR Rules 18% GST on Soft Ice Cream with Mixed Vanilla Flavor
21 Oct 24
Direct Tax Share in GDP Reaches 24-Year High at 6.64% in FY24
Personal Income Tax Collection Surges 294% in FY24
New ICSI Guidelines: Company Secretaries Can Sign E-Form MGT-7 for Only 75 Firms Starting April 2025
RBI Bans Loan Sanction and Disbursal from Four NBFCs
20 Oct 24
Understanding New Tax Form 12BAA: Structure & Benefits
India’s Personal Income Tax Collection Increases by 294% Over the Past Decade
Rajasthan GST AAR: Tax on Corporate Guarantee By Overseas Group is Payable Only Once, Not Periodically
19 Oct 24
ICAI Invites Young CAs to Shine at 40 Under 40 Business Leader Awards 2024
CBDT Amends Rules for Forms 10A and 10AB under Sections 12A and 80G
GSTR-2B Now Auto-Populates GST ITC for Reversal Under Rule 37
How GSTR 1A and IMS Help to Improve GSTR 3B Filing
18 Oct 24
CBDT Exempts RBI from TCS Requirement under Section 206C(1F) of the Income Tax Act
CBDT Releases Updated TDS Rates for FY 2024-25
GST return filing process: Hard-locking of auto-populated values in GSTR-3B Form; check details
17 Oct 24
Bombay HC: Assessee Can’t Be Refused ITC Solely for Filing GST Forms Manually Due to Portal’s Functionality Issues
Gujarat HC: IT Section 68 Does Not Apply if There is No Clear Declaration of Amount in the Bank Statement
Gujarat HC: GST Credit Can’t Be Blocked in the ECL if the Balance Is Nil or Insufficient
CBDT Amends Rules for Forms 10A and 10AB under Sections 12A and 80G
16 Oct 24
Newly launched GST app to facilitate traders keep trail of transactions
CBIC Issues Clarification on Implementation of Section 16(5) & 16(6) of CGST Act 2017
Pune ITAT: Tax Deduction Can Be Claimed u/s 80IA If the Entity Operates, Develops, and Maintains Infra
CBIC Department Regularizes GST Notices to Foreign Airlines
Kerala HC Rules Issuance of Summons U/S 70 of GST Act Does Not Constitute Initiation of Proceedings U/s 6(2)(b)
15 Oct 24
ICAI Issues New Quality Management Standards: SQM 1 and SQM 2 for Auditing and Assurance
CBDT Notifies Income Tax Exemptions for Various Public Authorities u/s 10(46) of the IT Act
Income Tax Department Sets Sights on High-Risk Refund Claims
CBIC Sets 18% GST Rate on Affiliation Services to Colleges by Universities
Kerala HC: If an Assessee Fails to Submit a Sales Report for Tax Evasion, Section 74 Must Be Applied

05 Nov 24

Income Tax Department Receives 6500 Stakeholder Suggestions for Overhaul of IT Act, 1961

CBDT Allows Electronic Filing of Forms 3CEDA and 3C-O Via Notification No. 5/2024

Delhi HC: Two Judgment Orders Against One SCN Cannot Be Accepted for the Same Period

No GST Returns Will Be Accepted If Filed More Than 3 Years Past Their Due Date

04 Nov 24

CBIC Issues New Guidelines to Balance Tax Evasion Investigations with Ease of Doing Business in Import and Export

GST IMS Dashboard: New Guidelines for `Deemed Acceptance` and Record Handling

03 Nov 24

Important Income Tax Forms Due by November 30, 2024

India’s GST Revenue Hits ?1.87 Lakh Crore in October with 9% Growth

New GST Amnesty Scheme Effective November 1: Know about Important Deadlines and Benefits

02 Nov 24

Kerala HC Rejects Tax Reassessment Order After Assessee Was Given Only 3 Days to Respond to SCN

GST Collection Hits Rs 1.87 Lakh Crore in October, Second-Highest Ever Boosted by Domestic Sales

01 Nov 24

CBDT Grants Delay Condonation for AY 2023-24 Income Returns Claiming Section 80P

ICAI and CAs: Supporting India`s Journey to Become a $30 Trillion Economy by 2047

CBDT Notifies Transfer Pricing Tolerance Range for AY 2024-25 Under Rule 10CA

23 Oct 24

GST Registration for Metal Scrap Buyers: GSTN issues Advisory on GST REG-07

Income Tax Department Releases Updated ITR-3 Utility Excel-Based Tool

GSTN Introduces Bank Account Validation for Non-Core Amendments

Income Tax Department Releases Updated Common Offline Utility for Form 3CA-3CD and 3CB-3CD

22 Oct 24

IMS May Add an Extra Compliance Layer for GST Taxpayers, Say Experts

GST Exemption on Premiums? The Council Will Make a Final Decision on Whether to Grant Benefits

Pre-filled GSTR-3B: A Hard-locking System for GST Liability

Rajasthan AAR Rules 18% GST on Soft Ice Cream with Mixed Vanilla Flavor

21 Oct 24

Direct Tax Share in GDP Reaches 24-Year High at 6.64% in FY24

Personal Income Tax Collection Surges 294% in FY24

New ICSI Guidelines: Company Secretaries Can Sign E-Form MGT-7 for Only 75 Firms Starting April 2025

RBI Bans Loan Sanction and Disbursal from Four NBFCs

20 Oct 24

Understanding New Tax Form 12BAA: Structure & Benefits

India’s Personal Income Tax Collection Increases by 294% Over the Past Decade

Rajasthan GST AAR: Tax on Corporate Guarantee By Overseas Group is Payable Only Once, Not Periodically

19 Oct 24

ICAI Invites Young CAs to Shine at 40 Under 40 Business Leader Awards 2024

CBDT Amends Rules for Forms 10A and 10AB under Sections 12A and 80G

GSTR-2B Now Auto-Populates GST ITC for Reversal Under Rule 37

How GSTR 1A and IMS Help to Improve GSTR 3B Filing

18 Oct 24

CBDT Exempts RBI from TCS Requirement under Section 206C(1F) of the Income Tax Act

CBDT Releases Updated TDS Rates for FY 2024-25

GST return filing process: Hard-locking of auto-populated values in GSTR-3B Form; check details

17 Oct 24

Bombay HC: Assessee Can’t Be Refused ITC Solely for Filing GST Forms Manually Due to Portal’s Functionality Issues

Gujarat HC: IT Section 68 Does Not Apply if There is No Clear Declaration of Amount in the Bank Statement

Gujarat HC: GST Credit Can’t Be Blocked in the ECL if the Balance Is Nil or Insufficient

CBDT Amends Rules for Forms 10A and 10AB under Sections 12A and 80G

16 Oct 24

Newly launched GST app to facilitate traders keep trail of transactions

CBIC Issues Clarification on Implementation of Section 16(5) & 16(6) of CGST Act 2017

Pune ITAT: Tax Deduction Can Be Claimed u/s 80IA If the Entity Operates, Develops, and Maintains Infra

CBIC Department Regularizes GST Notices to Foreign Airlines

Kerala HC Rules Issuance of Summons U/S 70 of GST Act Does Not Constitute Initiation of Proceedings U/s 6(2)(b)

15 Oct 24

ICAI Issues New Quality Management Standards: SQM 1 and SQM 2 for Auditing and Assurance

CBDT Notifies Income Tax Exemptions for Various Public Authorities u/s 10(46) of the IT Act

Income Tax Department Sets Sights on High-Risk Refund Claims

CBIC Sets 18% GST Rate on Affiliation Services to Colleges by Universities

Kerala HC: If an Assessee Fails to Submit a Sales Report for Tax Evasion, Section 74 Must Be Applied

Due Date Reminder

Jan	Feb	Mar	Apr	May	June
July	Aug	Sep	Oct	Nov	Dec
All

07 Nov 24 "Payment of TDS/TCS of October. Deposit TDS at reduced TDS rates of 2% for sections 194DA, 194G, 194H, 194IB, 194M, 0.1% for 194O & 0% for 194F. In case of government offices where TDS/TCS is paid by book entry, same shall be paid on the same day on which tax is deducted or collected. "

07 Nov 24 Return of External Commercial Borrowings for October.

10 Nov 24 Monthly Return by Tax Deductors for October.

10 Nov 24 Monthly Return by e-commerce operators for October.

11 Nov 24 Monthly Return of Outward Supplies for October.

13 Nov 24 Optional Upload of B2B invoices, Dr/Cr notes for October under QRMP scheme.

13 Nov 24 Monthly Return by Non-resident taxable person for October.

13 Nov 24 Monthly Return of Input Service Distributor for October.

14 Nov 24 Issue of TDS Certificate u/s 194-IA for TDS deducted on Purchase of Property in September.

14 Nov 24 Issue of TDS Certificate for tax deducted on rent above 50,000 pm by certain individuals/HUF under Section 194-IB where lease has terminated in September.

14 Nov 24 Issue of TDS Certificate for tax deducted u/s 194M on certain payments by individual/HUF in September.

14 Nov 24 Issue of TDS Certificate for tax deducted u/s 194S on Virtual Digital Assets in September.

15 Nov 24 Issue of TDS certificates for Q2 of FY 2024-25.

15 Nov 24 Filing of Income Tax returns by Cos, Partnership firms etc. (Audit applicable)

15 Nov 24 Details of Deposit of TDS/TCS of October by book entry by an office of the Government.

15 Nov 24 E-Payment of PF for October.

15 Nov 24 Payment of ESI for October

15 Nov 24 Online Application by Domestic Co. (other than to whom transfer pricing provisions are applicable) for exercise of option u/s 115BAA (22% tax)

15 Nov 24 Online Application by new Manufacturing Domestic Co. (other than to whom transfer pricing provisions are applicable) filing ITR for first time, for exercise of option u/s 115BAB (15% tax).

15 Nov 24 Online Application by resident co-operative society, for exercise of option u/s 115BAD(1) where due date of ITR is 31 Oct.

15 Nov 24 Online Application by Individual/HUF carrying business / profession, for exercise of option u/s 115BAC(1), where due date of ITR is 31 Oct.

20 Nov 24 Monthly Return by persons outside India providing online information and data base access or retrieval services, for October. Also to be filed by every registered person providing online money gaming from a place outside India to a person in India.

20 Nov 24 Add/amend particulars (other than GSTIN) in GSTR-1 of Oct. It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B.

20 Nov 24 Summary Return cum Payment of Tax for October by Monthly filers. (other than QRMP).

25 Nov 24 Deposit of GST under QRMP scheme for October .

28 Nov 24 Return for October by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.

29 Nov 24 Half yearly Audit Report from April to September of Reconciliation of Share Capital by Unlisted Public Companies.

29 Nov 24 Annual Return by OPCs and Small Companies.

29 Nov 24 Annual Return by companies other than OPCs and small companies.

30 Nov 24 Statutory Auditor to file Annual return with National Financial Reporting Authority (NFRA) in respect of entities covered in Clause 3(1)(a) to 3(1)(e) of NFRA Rules 2018. It will not cover tax audits, Limited review & Quarterly audits.

30 Nov 24 Filing of Income Tax Return where Transfer Pricing applicable.

30 Nov 24 Deposit of TDS u/s 194-IA on payment made for purchase of property in October.

30 Nov 24 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in October (Else TDS is to be deposited on annual basis by 30 April of next year.)

30 Nov 24 Deposit of TDS on certain payments made by individual/HUF u/s 194M for October.

30 Nov 24 Deposit of TDS on Virtual Digital Assets u/s 194S for October.

30 Nov 24 Online Application for alternative tax regime if due date of ITR is 30 Nov.

30 Nov 24 Claim input tax credit (ITC) for FY 23-24 in GSTR-3B. Issue Credit/Debit notes for FY23-24 .

30 Nov 24 Reversal of ITC of FY 23-24 where supplier had filed GSTR-1/IFF but not filed GSTR-3B till 30 Sep, 2024.

30 Nov 24 Amendments in declared opening balance of cumulative ITC reversal (ITC that has been reversed earlier and has not yet been reclaimed) in Electronic Credit Reversal and Re-claimed Statement.