₹1.3 crore life cover gap
TaxSavvy for bank statement analysis
See where your money really goes.
Upload any bank statement; see spends by category and what the department sees.
What you send
Any one of these gets us started. Photos are fine.
- Form 16
- Salary slip
- AIS or 26AS
- Offer letter
- Company policy
- Bank statement
Send them on WhatsApp or upload after you start. Documents are encrypted and seen only by your CA.
How we get it done
Four steps, the same for every job. You see each one ticked.
Information
Any document the question is about
Discussion
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Forms
We prepare and file. You stay in the loop for every OTP.
Deliverables
Call notes with the answer and next steps
See what you get, free
Real formats, made with dummy data.
Sample Sample 140 days in India: RNOR, foreign salary not taxed here
Sample ₹0 GST for you on ₹18 lakh of fees
Questions, answered the CA way
Facts, Provisions and law, Analysis, Conclusion.
AIS, Annual Information Statement: What It Is and All 50+ Categories
- Facts
- AIS is the government's mirror of your financial life. Every bank, mutual fund, registrar, stock exchange, and institution reports transactions to the IT department. This is what triggers automatic Sec 270(1), Income-tax Act 2025 (old Sec 143(1)) demands. Understanding AIS is the single most important step before filing ITR.
- Provisions and law
- Sec 510 (old 285BB); Rule 114-I; Sec 259 (old 133C); Sec 285BA
- Analysis
- All major AIS categories (50+): (1) Salary (from employers). (2) Rent received (from tenants). (3) Dividends (from companies). (4) Interest from savings account. (5) Interest from deposits. (6) Interest from bonds. (7) Interest from income tax refund. (8) Rent on plant and machinery. (9) Winnings from lotteries. (10) Winnings from horse races. (11) Insurance commission. (12) Receipt of accumulated PF. (13) Contribution to PF. (14) Salary from the government. (15) Sale of securities/units. (16) Sale of immovable property. (17) Purchase of immovable property. (18) Sale of vehicles. (19) Purchase of securities. (20) Cash deposits in savings accounts. (21) Cash withdrawals from accounts. (22) Purchase of foreign exchange. (23) Credit card payments. (24) Payment of insurance premium. (25) Purchase of bank draft. (26) SFT transactions (property, MF, equity above thresholds).
- Conclusion
- Log in to incometax.gov.in → Services → Annual Information Statement
- Download AIS in PDF (for reading) and JSON (for software import)
- Also download TIS, the consolidated summary you will use to fill ITR
- Check Category 1: Salary, matches sum of all Form 130 (old Form 16) Part A?
Bank account nominations: how to update and what to watch
- Facts
- Every bank account should have a nominee. Joint accounts can have nominees. A nominee can be a minor (a guardian must be named). Updating nominee: visit branch with nominee's Aadhaar, fill Form DA1 (for individuals), usually same day. For online accounts, update in internet banking under "Service Requests → Nomination.".
- Provisions and law
- Banking Regulation Act | Banking Companies Nomination Rules 1985
- Analysis
- If no nominee: family must apply for Succession Certificate from court (6-18 months) to claim the account. Many families discover this only at death, when the money is most needed.
- Conclusion
- Savings account, primary and salary
- Fixed deposits, each FD has separate nomination
- Current account (if business owner)
- Locker nomination (separate from account)
MSME Loan: Eligibility, Documentation, and the Process
- Facts
- The most accessible formal loan for Indian small businesses. MSME classification under Udyam determines eligibility for lower interest rates, priority sector lending, CGTMSE coverage, and government subsidies. Most businesses qualify but don't know the documentation trail required to get approval.
- Provisions and law
- MSMED Act 2006; RBI Priority Sector; CGTMSE Scheme; RBI Circular 2023; Udyam Portal
- Analysis
- MSME loan process, 5 stages: (1) Udyam registration (free, 10 minutes). (2) Business plan or financial projections (for new businesses) or last 2-3 years audited financials (for existing). (3) Bank application with KYC, business docs, and financial data. (4) Bank assessment, business viability, promoter track record, repayment capacity. (5) Loan offer and disbursement. For loans above ₹10L: most banks require CIBIL score of 700+ for promoter. Documents required for MSME loan: KYC (Aadhar, PAN of promoter and business). Udyam registration certificate. GST registration certificate. Bank statements (last 12 months, both personal and business). Last 2-3 years ITR with P&L and balance sheet (for existing business). Business plan with financial projections (for new business). Office/shop lease agreement or ownership proof. Trade licence if applicable.
- Conclusion
- Complete Udyam registration at udyamregistration.gov.in (free, instant, PAN-based)
- Determine loan type needed: term loan (capex) vs working capital CC/OD (operations)
- Prepare last 2-3 years ITR + audited financials or projections for new business
- Collect 12 months bank statements, both business current account and personal savings
Seeding a HUF: how to get money into it legally
- Facts
- The #1 question: how do you get money into the HUF? You cannot just transfer from your personal account, that income will be clubbed back to you under Sec 99, Income-tax Act 2025 (old Sec 64) and taxed in your hands anyway.
- Provisions and law
- Income Tax Act, Sec 92(2)(m) (old 56(2)(x)) | Clubbing provisions Sec 99 (old 64)
- Analysis
- Legal ways to seed a HUF: (1) Ancestral property received by inheritance goes into HUF automatically. (2) Gift from relatives outside the HUF (parents, in-laws). (3) Sale of HUF ancestral property, proceeds stay in HUF. (4) Business income earned by HUF as a business entity.
- Conclusion
- Ancestral property, inherited from grandfather or further ancestors
- Gift deed from relatives, parents, father-in-law, mother-in-law can gift to HUF
- Blended funds, if HUF gets property, all sale proceeds and reinvestment stays HUF
- NOT VALID: Personal savings transferred to HUF account (clubs back to you)
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