Jhankhana Shah and Associates

Welcome to Jhankhana Shah and Associates
- a full service professional firm

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Ours is a professional firm providing services in
Direct Tax, Indirect Tax and regulatory domain

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Our team comprises ex-big4 professionals having more than
20 years of experience in the field of Tax and Regulatory laws.

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About Firm

Jhankhana Shah and Associates (Chartered Accountants) is a professional firm providing services in Income Tax, Goods and Services tax, Transfer Pricing, Company Law, Foreign Exchange Regulations, Transaction Structuring and Central and State Government Incentives domain. Our team comprises of ex-big4 professionals having more than 20 years of experience in the field of Tax and Regulatory laws. Our mission is to be a trusted partner to our clients, helping them make informed decisions and navigate the complex world of tax and regulatory laws.

What we do

One-stop solution for all your tax and regulatory requirements

Direct Tax
Services

Non-resident Indian (NRI) Services

International/ Cross Border Tax Services

Tax Dispute Resolution And Litigation Support

India Entry (Inbound) Tax And Regulatory

Outbound Investment Advisory

Transfer
Pricing

Indirect Tax Compliance And Advisory

Government Incentive & Subsidies

Regulatory Advisory And Compliance

News, Due Date Reminder and Blog

News

12 Jun 24
Madras High Court Rejects GST ITC Mismatch Demand Due to Ignored Key Certificates
Deduction u/s 80G of Income Tax Act Allowable on CSR Expenditure: ITAT [Read Order]
Nirmala Sitharaman Will Take Charge as a Union FM in 3rd Term of Modi’s Cabinet
UP AAR: GST Applies to Sale of Residential Units, Classified as Services Not Immovable Property
11 Jun 24
Kerala High Court Ruling: An Assessee Can Claim Deduction U/S 80P By Filing ITR on Time
Mumbai ITAT: Income Earned from Reselling Subscription-Based Products Comes Under Royalty
Tamil Nadu AAR: ITC is Not Allowable for Rotary Car Parking Systems Under GST
Centre releases Rs 1.39 lakh crore installment of Tax Devolution to States
Nirmala Sitharaman Reappointed as Finance Minister in Modi`s Third Cabinet
Excel Utility of ITR-5 for AY 2024-25 is now available for filing
10 Jun 24
Central Excise Bill, 2024 Expected to be Introduced in Upcoming Budget Session
ICAI Seeks AI Proposals: Invitation to AI Firms for Finance and Accounting Solutions
09 Jun 24
Major Relief for Taxpayers: CPC (TDS) Reprocesses TDS Returns for FY 2023-24
Repo Rate Unchanged at 6.5% as RBI Elevates FY25 GDP Growth Outlook to 7.2%
08 Jun 24
Calcutta HC: Rejecting GSTR-9 Filing Form Can Cause Prejudice to Assessee’s Rights
CBDT Advises Taxpayers to Validate or Re-validate Bank Details for IT Refunds
Rajasthan AAR Sets 18% GST Rate on Infant Food Including Milk, Additional Ingredients
07 Jun 24
Major Relief for Taxpayers: CPC (TDS) Reprocesses TDS Returns for FY 2023-24
CBIC Chairman: New Rohtak GST Bhawan Will Improve Connectivity for Taxpayers in Haryana Districts
CBDT Advises Taxpayers to Validate or Re-validate Bank Details for IT Refunds
Delhi ITAT: Proper Approval from Authority is Required Before Passing Any Assessment/Reassessment in a Search Case
05 Jun 24
CBIC: No Recovery Actions Allowed Within Three Months of Tax Notice
CBDT Amends Form 27Q: Introduces Note 7A for Lower/No TDS Information
CBIC Issues Instructions No. 01/2024 for Recovery Proceedings Under GST
ITAT Upholds Taxpayer’s Explanation for Cash Deposits, Cancelling Addition Made Due to Lack of Explanation
Delhi HC Revises GSTIN Cancellation Date to GST Notice Date
04 Jun 24
CBIC Chairman Launches GSTN Back Office Application for CBIC officers
GSTN Adds Personal Hearing Option for GST DRC-01 Responses on Portal
Tax Officials Fail to Verify Sundry Creditors Before Invoking Section 41(1), ITAT Sends Matter to AO
GST Collection in May 2024 Reaches INR 1.73 Lakh Cr, Lower Than in April
ITAT New Delhi: No Addition Under Section 41(1) Without Proof of Liability Cessation
03 Jun 24
No Early Recover Of GST Before Stipulated Period Unless Critical, CBIC Issues Latest Instructions
GSTN Adds Personal Hearing Option for GST DRC-01 Responses on Portal
GST Revenue in May 2024 Hits Rs 1.73 Lakh Crore, Marks 10% YoY Growth
02 Jun 24
Income Tax Department Records Massive Seizure of Rs 1100 Crore During Lok Sabha Elections 2024
Income Tax Department Unveils MAC Utility for Filing ITR 1 to ITR 4 for AY 2024-25
ITR-5: Online & Offline Utilities for AY 2024-25 Now Accessible
01 Jun 24
Kolkata ITAT: Claim of Cash Deposits Can’t Be Denied Based on Assumed Spending
Madras HC Permits Contesting GST ITC Misplacement in 3B Notice with 10% Pre-Deposit
Mumbai ITAT: If No Advance Tax Query in Reassessment Proceedings Then IT Section 249(4)(b) Can’t Apply
31 May 24
State Government Employees Protest Against Flawed Tax Deduction System for Opting Old Regime
Madras HC: Officers Can’t Attach Property Under GST If Assessee Commences Appeal Proceedings
All About GST E-Way Bill 2 Portal with Main Benefits
Delhi HC Directs Officials to Submit Affidavit on GST Portal Technical Issues in Show Cause Notice
30 May 24
Fertilizer Companies May Get GST Relief Soon, Circular is on the Way
Finance Minister Hints at Reconsidering the 45-Day MSME Payment Rule
Bombay HC Rules ‘Transit Rent’ Non-Taxable, No TDS Deduction Required from Developer to Tenant
CBDT Exempts RBI from Higher TDS/TCS Rates for Non-Filing of Income Tax Returns
FM Sitharaman: Section 43B may be reverted if MSMEs Accept Delayed Payments Over 45 Days
29 May 24
ITAT Mumbai: Date of Possession Considered as Date of Acquisition of Property for Section 54 Deduction
GSTN: E-Way Bill 2 Portal to be released by NIC on 1st June 2024
RBI Launches PRAVAAH, Retail Direct Mobile Application and FinTech Repository
MCA Tightens Scrutiny on Beneficial Ownership Norms for Foreign-Owned Companies
CBDT Exempts RBI from Higher TDS/TCS Rates for Non-Filing of Income Tax Returns
Hyderabad ITAT: IT Section 115BBDA Doesn’t Apply to Household Organizations

12 Jun 24

Madras High Court Rejects GST ITC Mismatch Demand Due to Ignored Key Certificates

Deduction u/s 80G of Income Tax Act Allowable on CSR Expenditure: ITAT [Read Order]

Nirmala Sitharaman Will Take Charge as a Union FM in 3rd Term of Modi’s Cabinet

UP AAR: GST Applies to Sale of Residential Units, Classified as Services Not Immovable Property

11 Jun 24

Kerala High Court Ruling: An Assessee Can Claim Deduction U/S 80P By Filing ITR on Time

Mumbai ITAT: Income Earned from Reselling Subscription-Based Products Comes Under Royalty

Tamil Nadu AAR: ITC is Not Allowable for Rotary Car Parking Systems Under GST

Centre releases Rs 1.39 lakh crore installment of Tax Devolution to States

Nirmala Sitharaman Reappointed as Finance Minister in Modi`s Third Cabinet

Excel Utility of ITR-5 for AY 2024-25 is now available for filing

10 Jun 24

Central Excise Bill, 2024 Expected to be Introduced in Upcoming Budget Session

ICAI Seeks AI Proposals: Invitation to AI Firms for Finance and Accounting Solutions

09 Jun 24

Major Relief for Taxpayers: CPC (TDS) Reprocesses TDS Returns for FY 2023-24

Repo Rate Unchanged at 6.5% as RBI Elevates FY25 GDP Growth Outlook to 7.2%

08 Jun 24

Calcutta HC: Rejecting GSTR-9 Filing Form Can Cause Prejudice to Assessee’s Rights

CBDT Advises Taxpayers to Validate or Re-validate Bank Details for IT Refunds

Rajasthan AAR Sets 18% GST Rate on Infant Food Including Milk, Additional Ingredients

07 Jun 24

Major Relief for Taxpayers: CPC (TDS) Reprocesses TDS Returns for FY 2023-24

CBIC Chairman: New Rohtak GST Bhawan Will Improve Connectivity for Taxpayers in Haryana Districts

CBDT Advises Taxpayers to Validate or Re-validate Bank Details for IT Refunds

Delhi ITAT: Proper Approval from Authority is Required Before Passing Any Assessment/Reassessment in a Search Case

05 Jun 24

CBIC: No Recovery Actions Allowed Within Three Months of Tax Notice

CBDT Amends Form 27Q: Introduces Note 7A for Lower/No TDS Information

CBIC Issues Instructions No. 01/2024 for Recovery Proceedings Under GST

ITAT Upholds Taxpayer’s Explanation for Cash Deposits, Cancelling Addition Made Due to Lack of Explanation

Delhi HC Revises GSTIN Cancellation Date to GST Notice Date

04 Jun 24

CBIC Chairman Launches GSTN Back Office Application for CBIC officers

GSTN Adds Personal Hearing Option for GST DRC-01 Responses on Portal

Tax Officials Fail to Verify Sundry Creditors Before Invoking Section 41(1), ITAT Sends Matter to AO

GST Collection in May 2024 Reaches INR 1.73 Lakh Cr, Lower Than in April

ITAT New Delhi: No Addition Under Section 41(1) Without Proof of Liability Cessation

03 Jun 24

No Early Recover Of GST Before Stipulated Period Unless Critical, CBIC Issues Latest Instructions

GSTN Adds Personal Hearing Option for GST DRC-01 Responses on Portal

GST Revenue in May 2024 Hits Rs 1.73 Lakh Crore, Marks 10% YoY Growth

02 Jun 24

Income Tax Department Records Massive Seizure of Rs 1100 Crore During Lok Sabha Elections 2024

Income Tax Department Unveils MAC Utility for Filing ITR 1 to ITR 4 for AY 2024-25

ITR-5: Online & Offline Utilities for AY 2024-25 Now Accessible

01 Jun 24

Kolkata ITAT: Claim of Cash Deposits Can’t Be Denied Based on Assumed Spending

Madras HC Permits Contesting GST ITC Misplacement in 3B Notice with 10% Pre-Deposit

Mumbai ITAT: If No Advance Tax Query in Reassessment Proceedings Then IT Section 249(4)(b) Can’t Apply

31 May 24

State Government Employees Protest Against Flawed Tax Deduction System for Opting Old Regime

Madras HC: Officers Can’t Attach Property Under GST If Assessee Commences Appeal Proceedings

All About GST E-Way Bill 2 Portal with Main Benefits

Delhi HC Directs Officials to Submit Affidavit on GST Portal Technical Issues in Show Cause Notice

30 May 24

Fertilizer Companies May Get GST Relief Soon, Circular is on the Way

Finance Minister Hints at Reconsidering the 45-Day MSME Payment Rule

Bombay HC Rules ‘Transit Rent’ Non-Taxable, No TDS Deduction Required from Developer to Tenant

CBDT Exempts RBI from Higher TDS/TCS Rates for Non-Filing of Income Tax Returns

FM Sitharaman: Section 43B may be reverted if MSMEs Accept Delayed Payments Over 45 Days

29 May 24

ITAT Mumbai: Date of Possession Considered as Date of Acquisition of Property for Section 54 Deduction

GSTN: E-Way Bill 2 Portal to be released by NIC on 1st June 2024

RBI Launches PRAVAAH, Retail Direct Mobile Application and FinTech Repository

MCA Tightens Scrutiny on Beneficial Ownership Norms for Foreign-Owned Companies

CBDT Exempts RBI from Higher TDS/TCS Rates for Non-Filing of Income Tax Returns

Hyderabad ITAT: IT Section 115BBDA Doesn’t Apply to Household Organizations

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

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

20 Jun 24 Monthly Return by persons outside India providing online information and data base access or retrieval services, for May.

25 Jun 24 Deposit of GST of May under QRMP scheme.

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

29 Jun 24 Return of Statutory Compliances within 90 days from the close of the first financial year after its incorporation and where applicable,the second financial year.

30 Jun 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 May. (Else TDS is to be deposited on annual basis by 30 April of next year.)

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

30 Jun 24 Annual Return of Securities Transaction Tax by Listed Cos/Mutual Funds for FY 2023-24 .

30 Jun 24 Application for registration/provisional registration, intimation, approval/provisional approval of Trusts etc.

30 Jun 24 Application for conversion of provisional registration to regular or renewal of registration /approval after 5 years of registration /approval of Trust, institution, etc.

30 Jun 24 Efiling of Annual Statement of Equalisation Levy for 2023-24. (Google Tax/Tax on Digital Ads by service recipient on payments above 1 lac to a foreign service provider)

30 Jun 24 Online annual updation of IEC details . If no changes, confirm same online. Else IEC will be deactivated.

30 Jun 24 Updation of Nomination details or express opting out in Demat/Trading/Mutual fund accounts to avoid deactivation.

30 Jun 24 Annual Return of Deposits by Companies other than NBFCs for FY 23-24.

30 Jun 24 Director’s Disclosure of Interest and Non-disqualification by Companies.

30 Jun 24 Holding of Board Meeting by Companies for Q1 .

30 Jun 24 Quarterly return of non-deduction at source by banks from interest on time deposit for January-March quarter.

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

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

Our Team

Our team comprises of competent professionals with extensive knowledge, calibre and experience who specializes in their respective fields.

CA Jhankhana Shah

Founder Partner

CA Zankhana Sanghvi

Associate Partner

CA Piyush Sangoi

Indirect tax expert

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