CA Bhabani Mahapatra

CHARTERED ACCOUNTANT | in Practice | Certified Business Analyst | Specialise in Direct &indirect tax |Litigation | Market analyst | corp Compliance |

[CA Bhabani Mahapatra @Ca_Bhab]

The Income Tax Department is getting more global financial data than ever before.

CBDT has authorized DGIT to upload information received under the Automatic Exchange of Information framework into AIS.

This means even foreign accounts and transactions are trackable now .

[CA Bhabani Mahapatra @Ca_Bhab]

non filing of ITR can lead to prosecution in serious cases..

[CA Bhabani Mahapatra @Ca_Bhab]

It’s 3rd July & the portal
Not able to validate returns for submission
@IncomeTaxIndia kindly resolve this issue

[Rohit Jain @rohitjain2021]

GSTR 1 me Invoice le liya..
GSTR 3B se tax le liya..
Par E invoice nahi banaya isliye Penalty lag rahi hain logo par...
Logo ko opportunity toh do correction karne ki...
Ye Human error hain... Tax Evasion na hua hain na Tax Evasion ka intention tha..
@GST_Council @cbic_india @FinMinIndia se anurodh hain ki is aur dhyan de..
Taxpayers ke liye ek Amnesty Scheme ki bahut jarurat hain...

[CA Bhabani Mahapatra @Ca_Bhab]

@rishrox19 Yes it’s good & safe
Mostly used by auto showrooms

[CA Bhabani Mahapatra @Ca_Bhab]

@rohitjain2021 @clear_winner @IndiaNewGen It’s 100 😎
I haven’t seen anyone unemployed after CA
Nope
not a single one in my connections

[CA Bhabani Mahapatra @Ca_Bhab]

Our office has filed 1st return for AY 26-27

Hoping for fast processing &refunds
#incometax #itr #taxfiling

[CA Bhabani Mahapatra @Ca_Bhab]

ITR-1&4 is now available
for filing
#itr #incometax #AY2627

[CA Bhabani Mahapatra @Ca_Bhab]

Delivered today
5th edition
Thanks @CA_HarshilSHETH

Learning in progress 😎😎

[CA Bhabani Mahapatra @Ca_Bhab]

CA Final AFM Review

Toughest Paper Recent ICAI History.

My advice to CA Students is that don't overthink, set your strategy for next paper

So Don't loose hope,
Prepare well
Don’t let this affect the rest of the papers
#cafinal #CA exams

[CA Bhabani Mahapatra @Ca_Bhab]

@niyetsel .

[CA Bhabani Mahapatra @Ca_Bhab]

ICAI officially notified
Exams will be held 2 times a year

TWICE a year system is back

[CA Bhabani Mahapatra @Ca_Bhab]

@R_N_Vaghani Best option is
to apply under 14A

Must see the Business type & scalability

As per client if it will cross 2.5 L pm in 1st 3 months then it’s best to go with Regular Registration process

[CA Bhabani Mahapatra @Ca_Bhab]

@BahlKanan Ha ha 🤣
Sab yanha pe gyani he
jo qualified nhi he Wo bhi Gyan de ke jaa rhe he

[CA Bhabani Mahapatra @Ca_Bhab]

Statutory Audit to be removed for Such Class or Classes of Company

Such Class or Classes shall be notified by Government!

[CA Bhabani Mahapatra @Ca_Bhab]

@Gaurav_7887 12

[Sweta Jain Patil @Anuana10]

GEMS IN GST DEPARTMENT..

[CA Bhabani Mahapatra @Ca_Bhab]

@Anuana10 Filing DRC03A is limited to some errors in DRC03

Recently filed APL01 &had to pay predeposit
because there is error of POS in DRC03 which previously was filed by a GST consultant with less fees ultimately led to Appeal

Portal won’t let you file DRC03A if there is error in POS

[CA Bhabani Mahapatra @Ca_Bhab]

@ShivaSRG @AbhasHalakhandi Mine is on 1st floor 😎😂

[Pratibha Gupta @PratibhaGoyal]

With inroduction of CFSS scheme, many CAs are asking ICAI to allow generation of Back Dated UDIN.

This is incorrect on many levels:

- Allowing allowing UDIN generation for past documents would effectively legitimise backdated audit reports

- Signing back dated Audit Report would be clear voilation of professional ethics and corporate law.

Correct legal approach is, if Audit is not done earlier,do it now, sign AR with the current date, generate UDIN now, hold the AGM, and regularise delays through compounding of offences.