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Explore Our Blog: Latest Insights and Topics

Welcome to the blog of M A Ashraf & Co. - Chartered Accountants. Find expert advice, latest updates, and comprehensive guides across our key service areas.

Latest Blog Posts

📚 Browse Blog by Topics

  • Company Registration

    Step-by-step guides and expert advice to register your company, LLP, or firm in India.

  • Income Tax

    Income tax laws, return filing tips, compliance dates, and smart planning ideas.

  • GST (Goods and Services Tax)

    Everything about GST registration, returns, notices, and practical filing tips.

  • ICAI & Professional Updates

    Stay current with ICAI circulars, audits, and guidance for fellow professionals.

  • Startups

    Legal, compliance, and registration support tailored for entrepreneurs and startups.

Have questions or need assistance? Contact us today — your trusted Chartered Accountant partner for business success.

M A Ashraf & Co. – Chartered Accountants
Specialising in GST, Income Tax, and Startup Advisory
📍 Serving PAN India | 💼 camdayazashraf.blogspot.com

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Is Selling Gold Taxable in India? A Comprehensive Guide:

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Gold holds a special place in Indian culture- not just as a symbol of wealth and tradition but also as a preferred investment. However, many are unaware that selling gold, whether in the form of jewellery, bars, coins, or digital formats, may attract taxes under the Income Tax Act. As a Chartered Accountant, my aim is to clarify the tax implications associated with gold transactions to help you stay compliant and financially informed. Understanding Capital Gains on Gold Under Indian tax laws, profits from the sale of gold are classified as capital gains . While many personal assets like furniture or clothing are exempt from such taxation, jewellery is explicitly treated as a “capital asset” —even if it’s a thread of gold in clothing or a small stone embedded in a decorative piece. This rule applies to : • Gold, silver, platinum jewellery • Precious and semi-precious stones (even when loose) • Utensils or decorative items made from or embedded with precious metals Exception :...
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How to File GST Returns Easily – A Guide for Small Businesses

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How to File GST Returns Easily – A Guide for Small Businesses Filing GST returns can be daunting, especially for startups and small businesses. But with the right knowledge and support, it can become a smooth, timely, and compliant process. At M A Ashraf & Co. – Chartered Accountants , we help Indian businesses stay GST-compliant without hassle. Here’s your step-by-step guide on how to file GST returns easily. 1. Know Which GST Returns You Must File Depending on your business type, you may need to file one or more of the following: GSTR-1: Details of outward supplies (sales) GSTR-3B: Summary return for tax payment GSTR-4: For Composition Scheme taxpayers GSTR-9: Annual return Refer to the official GST Portal – Returns Section for updated form details. 2. Keep Your Books and Invoices in Order Ensure that all your sales and purchase invoices are GST-compliant. Maintain records for at least 6 years as per Section 35 of CGST Act . 3. Use the Right Tools ...
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Benefits of Filing Income Tax Returns Even If Not Mandatory

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Why Filing ITR Voluntarily Can Be a Smart Move Many individuals believe that filing Income Tax Returns (ITR) is only necessary if their income exceeds the basic exemption limit. However, even if you are not legally required to file ITR, doing so can offer several long-term benefits. At M A Ashraf & Co. - Chartered Accountants , we advise clients to understand these advantages before deciding to skip filing. 1. Claiming Income Tax Refunds If TDS (Tax Deducted at Source) has been deducted from your income but your total income is below the taxable limit, filing an ITR is the only way to claim a refund from the Income Tax Department. 2. Useful for Visa Applications When applying for visas to countries like the USA, UK, Canada, or Schengen nations, you may be required to submit your ITR copies as proof of financial stability and tax compliance. 3. Helps in Loan Applications Most banks and NBFCs require ITR receipts for processing loans (home, vehicle, or business loans). ...
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