Skip To Main Content
Umesh Sharma on Muck Rack

Umesh Sharma

As seen in: Forbes, MSN India, MSN UK, Nature, Taylor & Francis Online, The Conversation, DEV Community, Canadian Journal of Infectious Diseases & Medical Microbiology, HubPages, International Business Times (Singapore) and

Get in touch with Umesh

Contact Umesh, search articles and posts on X, monitor coverage, and track replies from one place.

Learn more about Muck Rack

Actions

Share this page

Articles

Are Raksha Bandhan Gifts Received by a Sister Taxable?

|
By Umesh Sharma
| Tax Guru
Summary: Under Section 56(2)(x), gifts received from specified relatives are fully exempt from income tax without any monetary limit, while non-relative gifts exceeding ₹50,000 in aggregate during a financial year are taxable as Income from Other Sources. A brother is a specified relative, but a cousin is not. Accordingly, cash, gold, shares or immovable property received by a sister from her brother are exempt, whereas the same gifts from a cousin or other non-relative may be taxable.
Open in Who Shared Issue with article?

Global Biz News Room

|
By Umesh Sharma, CIO- Debt
| Global Biz News Room
By Mr. Umesh Sharma, CIO- Debt, The Wealth Company Mutual Fund Debt-oriented mutual fund schemes witnessed a sharp reversal in July 2026 following the sizeable quarter-end redemption cycle in June. The short end of the yield curve saw a return of institutional liquidity, with ultra-short duration, low-duration, money market and short-duration funds recording net inflows, reflecting the largely seasonal nature of the June outflows.
Open in Who Shared View Duplicates (4) Issue with article?

Business Expenses Allowed vs Disallowed While Filing ITR: Key Rules

|
By Umesh Sharma
| Tax Guru
Which Business Expenses are Allowed and Which are Disallowed while Filing ITR? Article explains that business taxpayers cannot claim every amount spent during the year as a business expense and that an expense must satisfy prescribed conditions to qualify for deduction. Expenses should be wholly and exclusively for business, revenue in nature, related to the relevant year, supported by bills and books, and comply with payment and TDS requirements.
Open in Who Shared Issue with article?
See all 409 licensed articles (419 Total)