Deepti Arora & Co.

Deepti Arora & Co. Deepti Arora & Co.

CA (CPA Equivalent) | Outsourced Bookkeeping & Month-End Close for CPA Firms in US, Canada & Australia | QBO · Xero · Zoho · MYOB | AI-Assisted | 20+ Yrs | cadeeptiarora.com is a remote-first CA firm led by CA Deepti Arora — Chartered Accountant with 20+ years of global finance and accounting experience across GE, HSBC, and IBM. We work as a dedicated offshore accounting partner for CPA and accoun

ting firms in the US, Canada & Australia — handling bookkeeping and month-end close so you can focus on your clients.

✅ Full-cycle bookkeeping & month-end close
✅ QBO · Xero · Zoho Books · MYOB · Wave
✅ Catch-up & clean-up engagements
✅ Virtual Controller / CFO services
✅ Indian GST & Income Tax compliance
🤖 AI-assisted workflows for faster turnaround

Have you ever had a foreign bank account, ESOP/RSU, overseas investment or other foreign asset that was missed in your I...
22/08/2026

Have you ever had a foreign bank account, ESOP/RSU, overseas investment or other foreign asset that was missed in your ITR?

A new Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (FAST-DS) provides a one-time route for eligible taxpayers to disclose specified foreign assets/income, subject to the scheme’s conditions.

The scheme may be relevant if you are:

An NRI returning to India
A former NRI with overseas assets
Holding an old foreign bank account
Holding unreported foreign ESOPs/RSUs
Holding foreign shares or investments
Holding foreign assets acquired from income already taxed in India
Someone who missed Schedule FA reporting

Important: Eligibility, valuation, monetary limits and the nature of the asset/income must be checked carefully before making a declaration.

The scheme provides specified statutory relief where the prescribed conditions, declaration and payment requirements are satisfied.

📌 Don't ignore an old foreign asset simply because it is small or dormant.

📌 Save this with someone who has worked, studied or invested abroad.

YOU TRADED ₹2 CRORE.DID YOU EARN ₹2 CRORE?Absolutely not.F&O traders often confuse three very different numbers:🔹 Contra...
21/08/2026

YOU TRADED ₹2 CRORE.

DID YOU EARN ₹2 CRORE?

Absolutely not.

F&O traders often confuse three very different numbers:
🔹 Contract / trade value
🔹 F&O turnover for tax purposes
🔹 Actual profit or loss

For tax-audit purposes, F&O turnover is generally determined using the aggregate of favourable and unfavourable differences; in options, premium received on sale of options is also considered as prescribed.

So you could have:
₹2 Cr traded
↓
₹8 Lakh F&O turnover*
↓
₹2.5 Lakh profit

Trade value ≠ Turnover ≠ Profit

And getting this calculation wrong can affect your ITR, tax-audit assessment and compliance.

📌 F&O traders — don't calculate turnover by simply adding up your contract values.

Illustrative figures only.

Not every source of income appears in your Form 16—but that doesn't mean it can be left out of your Income Tax Return.Ma...
20/08/2026

Not every source of income appears in your Form 16—but that doesn't mean it can be left out of your Income Tax Return.

Many taxpayers unintentionally omit income because they assume:

"The bank has already deducted TDS."
"It's only a small amount."
"It's already reflected somewhere."

Unfortunately, that's not how ITR filing works.

Your return should include all taxable income, including bank interest, dividends, capital gains, rental income, freelance earnings and foreign income, wherever applicable.

The Income Tax Department receives information from multiple sources through AIS, Form 26AS and other reporting mechanisms. The safest approach is always complete and accurate disclosure.

✅ Report all your income.

✅ Let your CA determine the correct tax treatment.

Accurate reporting today can help you avoid notices, revised returns and unnecessary complications tomorrow.

📌 Save this post before filing your ITR.

📌 Share it with someone who thinks small income doesn't need to be reported.

🚨 **PAID YOUR TAX ON TIME — BUT STILL GOT AN ITR DEMAND?**You are not alone in facing **tax-credit mismatch issues** dur...
19/08/2026

🚨 **PAID YOUR TAX ON TIME — BUT STILL GOT AN ITR DEMAND?**

You are not alone in facing **tax-credit mismatch issues** during ITR processing.

A common situation is:

**Tax paid ✅**
↓
**Challan available ✅**
↓
**ITR processed u/s 143(1)**
↓
**Tax credit not matched ❌**
↓
**Demand + possible interest appears**

# # # 🔎 WHAT CAN CAUSE THE PROBLEM?

* Incorrect **BSR Code**
* Wrong **Challan Serial Number**
* Incorrect **Date of Payment**
* Incorrect **Challan Amount**
* Challan not reflected correctly in **Form 26AS**
* Tax credit claimed in ITR not matching available credit

The Income Tax Department specifically provides a **Tax Credit Mismatch Correction** facility for errors in TDS/TCS and income-tax challan details.

# # # ⚠️ DON'T PAY THE DEMAND BLINDLY

First check:

✔ **143(1) Intimation**
✔ **Form 26AS**
✔ **Challan details**
✔ **Tax credit claimed in ITR**
✔ **Outstanding demand**

If the demand is incorrect, the portal provides options to:

**Disagree with the demand**
or
**File appropriate rectification**

For a processed return, the Department specifically provides **Reprocess Return**, **Tax Credit Mismatch Correction** and **Return Data Correction** options, depending on the nature of the error.

# # # 💡 IMPORTANT

**A demand appearing on the portal does not automatically mean the demand is correct.**

Check the underlying tax credit before paying.

And keep your **challan receipt, BSR Code, challan number, date and amount** safely documented.

📌 **Save this post — you may need it when your ITR is processed.**

📌 **Share it with someone who has recently filed an ITR.**

𝗧𝗛𝗘 𝗖𝗙𝗢 𝗠𝗜𝗡𝗗𝗦𝗘𝗧 𝗦𝗘𝗥𝗜𝗘𝗦 | 𝗪𝗘𝗘𝗞 𝟭𝟯Finance team performance metrics: how to know if your finance function is actually world...
18/08/2026

𝗧𝗛𝗘 𝗖𝗙𝗢 𝗠𝗜𝗡𝗗𝗦𝗘𝗧 𝗦𝗘𝗥𝗜𝗘𝗦 | 𝗪𝗘𝗘𝗞 𝟭𝟯

Finance team performance metrics: how to know if your finance function is actually world-class

Most finance teams measure business performance rigorously.

Very few measure their own performance.

The metrics I believe every finance leader should track:
• Close cycle time
• Reporting error rates
• Query turnaround time
• Forecast accuracy
• Audit findings
• Stakeholder satisfaction

What gets measured improves.

World-class finance functions are built on discipline, consistency, and accountability — not heroic firefighting.


# 🚨 BUSINESS OWNER OR FREELANCER? # # YOUR ITR DEADLINE MAY BE 31 AUGUST — NOT 31 JULY.For **AY 2026-27 (FY 2025-26)**,...
17/08/2026

# 🚨 BUSINESS OWNER OR FREELANCER?

# # YOUR ITR DEADLINE MAY BE 31 AUGUST — NOT 31 JULY.

For **AY 2026-27 (FY 2025-26)**, the Income Tax Department has extended the due date for **non-audit business and professional taxpayers to 31 August 2026**.

# # # 📌 31 AUGUST MAY APPLY IF YOU:

✔ Run a business without tax-audit requirement
✔ Are a freelancer / consultant / professional
✔ Have business or professional income
✔ Use presumptive taxation under **44AD / 44ADA / 44AE** and are otherwise eligible for ITR-4
✔ Are a partner in a non-audit firm, subject to applicable conditions

# # # ❌ 31 AUGUST DOES NOT MEAN EVERY BUSINESS

If your accounts are subject to **tax audit**:

➡️ **31 October 2026**

If you have a **Section 92E transfer-pricing requirement**:

➡️ **30 November 2026**

# # # ⚠️ DON'T CONFUSE:

**31 July →** ITR-1 / ITR-2 and other applicable non-business cases

**31 August →** Eligible non-audit business / professional cases

**31 October →** Audit cases

**30 November →** Transfer-pricing cases

📌 **If you are a freelancer or business owner, don't wait until the last week.**

Get your books, bank statements, TDS details, GST records and other supporting information ready now.

YOU PAID THE EXPENSE.WHY IS YOUR CA SAYING, “NOT DEDUCTIBLE YET”?Because payment alone does not automatically make an ex...
15/08/2026

YOU PAID THE EXPENSE.
WHY IS YOUR CA SAYING, “NOT DEDUCTIBLE YET”?

Because payment alone does not automatically make an expense deductible for income-tax purposes.

Your CA may need to check:

❌ Is it a personal expense?

❌ Is it capital expenditure rather than a revenue expense?

❌ Was the required TDS deducted/deposited?

❌ Was the payment made in a manner that triggers a disallowance?

❌ Is there a pending MSME payment issue under Section 43B(h)?

❌ Do you have proper supporting documents?

For example, an expense may be genuine and already paid, but its tax deduction can still be restricted or deferred depending on the applicable provision.

Paid ≠ Automatically Deductible

That's why your CA keeps asking questions even after you've paid the bill.

Good tax planning isn't about claiming every expense.
It's about claiming every eligible expense correctly.

📌 Save this post if you run a business or freelance practice.

📌 Share it with a business owner who thinks “I paid it, so I can claim it.”

GST TURNOVER ≠ P&L TURNOVER?Can you explain the difference?Your GST returns may show ₹1 crore of turnover while your Pro...
14/08/2026

GST TURNOVER ≠ P&L TURNOVER?
Can you explain the difference?

Your GST returns may show ₹1 crore of turnover while your Profit & Loss Account shows ₹92 lakh.

That does not automatically mean something is wrong.

There can be legitimate differences due to:

✔ Timing differences
✔ Credit/debit notes
✔ Exempt or non-GST items
✔ Accounting treatment
✔ Transactions reported in a different period
✔ Other reconciliation adjustments

But here's the important part:

🚨 A difference is not necessarily a problem. An unexplained difference is.

For businesses covered by GSTR-9C, GST itself requires reconciliation of turnover reported in the annual financial statements with turnover reported in the annual GST return, including reasons for unreconciled differences.

So don't simply ask: "Do my GST figures match my books?"

Ask: "Can I explain why they don't?"

📌 Reconcile your GST returns with your books regularly.
📌 Save this post and share it with a business owner.

GST TURNOVER ≠ INCOME TAX PROFITA business can show ₹1 crore of GST turnover without having ₹1 crore of taxable business...
13/08/2026

GST TURNOVER ≠ INCOME TAX PROFIT

A business can show ₹1 crore of GST turnover without having ₹1 crore of taxable business income.

Why?

Because turnover and profit are different numbers.

For example:
GST turnover: ₹1 crore
Business expenses: ₹70 lakh
Profit before other adjustments: ₹30 lakh

Income-tax computation may then involve further adjustments such as depreciation, disallowances, other income and, where eligible, presumptive taxation.

But there's another important point:

⚠️ Don't assume the GST figure and Income-tax figure should always be identical.

The two laws have different concepts, reporting requirements and adjustments.

GST return ≠ Income-tax return

Business owners should reconcile the numbers rather than simply copy one return into the other.

📌 Save this post if you run a business or freelance practice.

📌 Share it with a business owner who thinks turnover = taxable income.

₹10 lakh credited to your bank account — does that mean ₹10 lakh is taxable income?Not necessarily.Your bank statement c...
12/08/2026

₹10 lakh credited to your bank account — does that mean ₹10 lakh is taxable income?

Not necessarily.

Your bank statement can contain many types of credits that are not automatically taxable income, such as:

✔ Loan received
✔ Transfer between your own accounts
✔ Capital introduced into business
✔ Genuine refund received
✔ Sale proceeds
✔ Certain gifts

But there is an important distinction:

⚠️ Unexplained or undisclosed credits can create serious tax issues.

The key question is not simply:

"How much money came into the bank?"

It is:

"What is the source and nature of that money?"

That's why proper documentation and reconciliation of bank transactions matter—especially for business owners, freelancers and professionals.

📌 Don't confuse bank credits with taxable income.

📌 Save this post and share it with a business owner or freelancer.

Address

Manesar
122051

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 10am - 1pm

Telephone

+919999017642

Website

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