CA. Jitender Chanana

FCA, practicing in New Delhi. Simple n Straight forward.
Just try make world better around U n if every1 does d same, d world will b a better place to live in.

[CA. Jitender Chanana @ChananaJitender]

A small Dot can Stop a Big Sentence. But a few more Dots can give Continuity... Amazing but True...
Every ending can be the New Beginning...

[CA. Jitender Chanana @ChananaJitender]

I believe that advance tax collections for the Mar'25 instalments would be much lower than the last year or budget estimates for this fiscal year. #HoliCelebration would not be as #vibrant as last year.
Let's wait n watch!!!
#IncomeTax #Budget2025 #Holi2025

[CA. Jitender Chanana @ChananaJitender]

आज दिल्ली में BJP का 'प्रवेश' हो ही गया । बधाई हो ।
#DelhiElectionResults @narendramodi @AmitShah @BJP4India @p_sahibsingh

[CA. Jitender Chanana @ChananaJitender]

New Direct Tax Code proposes: Expanded Tax Audit Roles: CS & CMA may now be allowed to conduct tax audits, which presently is limited to CAs, making tax auditors more accessible. Is it justified #DTC2025 @theicai @abhishekrajaram @Sudhirhalakhndi @NihalchandJJain @akhilpachori

[CA. Jitender Chanana @ChananaJitender]

e-DRS application must be filed within one month from the date of receipt of specified order. If appeal is pending, e-DRS application is to be filed on or before 30.09.2024

Posted On: 30 AUG 2024 8:10PM by PIB Delhi.

[CA. Jitender Chanana @ChananaJitender]

CBDT rolls out Dispute Resolution Scheme(e-DRS) to minimise litigation. Dispute Resolution Committees(DRCs) constituted in all 18 jurisdctnl Pr. CCIT regions across d country. As per e-DRS, taxpayer can opt 4 e-Dispute Resolution agnst d ‘specified order’ #IncomeTax #Tax #taxes

[CA. Jitender Chanana @ChananaJitender]

a little correction, it's actually named #CA GPT

[CA. Jitender Chanana @ChananaJitender]

AS for Non-Corporate Entities https://t.co/syhz2cCoE3

Just registered for the ICAI ChatGPT (Link: https://t.co/unC2yXB0FQ). Good initiative by the @theicai.
Sharing a chat with #ICAI #ChatGPT for level II and level III entities, useful checklist for CAs/ auditors.

[CA. Jitender Chanana @ChananaJitender]

However, the idea of reflecting sunlight at night is not a new one as Russia's Znamya project experimented on it in the 1990s to illuminate specific regions with limited sunlight during nighttime. Unfortunately, d idea didn't succeed n dropped due to numerous technical glitches.

[CA. Jitender Chanana @ChananaJitender]

Interesting news...
A California-based startup, Reflect Orbital, is planning something that has never been done before. The company aims to sell sunlight after dark....

[CA. Jitender Chanana @ChananaJitender]

It aims to launch a series of satellites with large mirrors tht can reflect d sunlight into specific places on Earth. The company aims to maximise solar farms' productivity by offering on-demand sunlight, especially at night when the solar panels otherwise remain inactive...

[CA Akhil Pachori @akhilpachori]

Audit Trail- Reporting formats (Illustrative)

Reporting in case of 7 situations

A Thread 🧵

#AuditTrail #MCA #ICAI

[CA. Jitender Chanana @ChananaJitender]

Clarification by CBDT regarding Income tax clearance certificate (ITCC) 👇

[Income Tax India @IncomeTaxIndia]

CBDT issues clarification in respect of Income-tax clearance certificate (ITCC).

It is being erroneously reported that all Indian citizens must obtain ITCC before leaving the country. This position is factually incorrect.

Vide Finance (No.2) Act, 2024, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 ( the ‘Black Money Act’) has been added to the list of Acts u/s 230(1A) of the Income-tax Act, 1961, whereby any resident leaving the country is required to obtain a tax clearance certificate in certain circumstances.

This insertion has been made only to cover the liabilities under the Black Money Act.

For details, pl check the Press Release:
https://t.co/ojceAKuixM

[CA. Jitender Chanana @ChananaJitender]

@CA_AmitShah @ICAI @abhishekrajaram Hey Amit, I believe that you can pursue some virtual programs/ courses available on the Digital Learning Hub at https://t.co/I8BDlUtuaw to obtain structured learning CPE Hours. Hope it helps. #ICAI

[CA. Jitender Chanana @ChananaJitender]

Be informed to ensure hassle-free travel. Obtaining a Tax Clearance Certificate is a mandatory step for Indian citizens travelling abroad under the new regulations. #TaxClearanceCertificate #incometax #Foreign_Travel #Travel_Abroad #TCC #Outbound_Tours #Tours #TravelSmart

[CA. Jitender Chanana @ChananaJitender]

Starting 01 Oct'24, Govt of India has introduced new regulations requiring all Indian citizens to obtain a Tax Clearance Certificate (TCC) before leaving the country. This is to ensure compliance with tax obligations & prevent tax evasion....

[CA. Jitender Chanana @ChananaJitender]

Permanent cancellation of the release of Movie Maharaj on Netflix
#BoycottNetflix
#BoycottMaharaj - Sign the Petition! https://t.co/6ZmL7RdnKf via @ChangeOrg_India

[CA. Jitender Chanana @ChananaJitender]

Do you remember when you joined X? Even I don't!😂
#MyXAnniversary

[CA. Jitender Chanana @ChananaJitender]

#incometax #section43B
#43B(h) ...would it be deferred by one year???

[CA. Jitender Chanana @ChananaJitender]

Clarifications on 𝐒𝐞𝐜𝐭𝐢𝐨𝐧 43𝐁(𝐡) for business owners/ management, to act accordingly in order to avoid any disallowances and resultant increased outflow of tax:
Sec 43B(h) introduced in the Finance Act, 2023 became applicable to FY 2023-24...
#IncomeTax #incometaxindia

[CA. Jitender Chanana @ChananaJitender]

@CAAditiBhardwaj Congrats... that's Great...👍