CA Krupal Panchal

Practicing Chartered Accountant,DISA

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

Everyone want extention of Tax Audit Due Date with so many reasons

• Need 2 Month Time for Efficient Compliance
• Proper Work Life Balance
• Continues Due Date one after another (31st July, 31st August, 30th September, 31st October)

@FinMinIndia @IncomeTaxIndia
Extend TAR Due Date

[ADV. ASHUTOSH J. DUBEY 🇮🇳 @AdvAshutoshBJP]

💣Now it's time to focus on equal opportunity and abolish RESERVATION.

Repost if you agree!

[CA Krupal Panchal @KrupalPanchal5]

@Infosys_GSTN @Infosys_GSTN @cbic_india SR G-202606064049365 closed as "resolved" though the issue remains unresolved. We answered GST Helpdesk calls, but there was no voice from the representative and the call disconnected. GSTR-3B filing is blocked due to a portal issue under gst suspension

[CA Krupal Panchal @KrupalPanchal5]

GSTR-3B filing error for 10+ days. Return period dropdown in "Tax Liability Breakup" is blank. Repeated grievances are getting the same generic reply without resolution. GSTIN is suspended and risks cancellation. Kindly fix urgently. @Infosys_GSTN @cbic_india @gstindia

[CA Krupal Panchal @KrupalPanchal5]

@Infosys_GSTN Shared on direct message

[CA Krupal Panchal @KrupalPanchal5]

G-202606044034956 this is the ticket number

[Raghav Chadha @raghav_chadha]

Silenced, not defeated

My message to the ‘aam aadmi’
—
खामोश करवाया गया हूँ, हारा नहीं हूँ

'आम आदमी’ को मेरे संदेश

[StoxPlex Shubham (SEBI RA) @StoxPlexShubham]

🚨 Income Tax Dept is Watching You

1️⃣ Cash deposit in SA : ₹10L+
2️⃣ Cash deposit in CA : ₹50L+
3️⃣ Credit Card bill (cash) : ₹1L+
4️⃣ Credit Card bill (non-cash): ₹10L+
5️⃣ Property buy/sell: ₹30L+
6️⃣ FD deposits (incl. cash): ₹10L+
7️⃣ Forex/foreign travel: ₹10L+
8️⃣ Shares, MF, Bonds: ₹10L+
9️⃣ Cash gift: ₹50K(non-relative)
🔟 Cash received 1 person/day: ₹2L+

✅ If you pay ITR honestly then no need to worry

Stay Informed, Stay Relax 🧘🏻

[CA Chirag Chauhan @CAChirag]

Disagree on one point - the institute will not go to the department for the date extension issue, it's the department and trade bodies who have to look and consider.

It’s not a trade body issue. It's an issue of CAs vs the tax department

Trade bodies represent only industry-related matters for their business they don’t understand the problem with compliance nor do they represent us.

Shifting responsibility to trade bodies is not acceptable to CA members who are in practice. ICAI should change its stand!!

Appreciate your frank and open conversation.

[CA Chirag Chauhan @CAChirag]

The ICAI has been sending daily reminders for annual fees for the past 15 days, but not once have they addressed the glitches in the tax portal or explained what they are communicating to the government.

The next time any CCM comes asking for votes, we should question how they have supported MSMEs and CAs.

I do not doubt that the Big 4 will lobby for tax audits, and the ICAI, CCMs will back them up.

[CA Chirag Chauhan @CAChirag]

The portal is malfunctioning, preventing tax payments and the download of AIS/TIS.

This standard message reply by @IncomeTaxIndia is misleading and false.

Please do not deceive taxpayers and professionals.

RT if the taxpayer & professional agree

[CA Himank Singla @CAHimankSingla]

Reply to this arrogant and shameless Government with your vote in the next elections.

Your vote is the best resolution for all problems.

Respect for you and your profession should be the deciding factor before everything else!

1000 RTs needed to support this cause.
Enough is enough.

#extend_due_dates_immediately
#extend_ITR_TAR_duedates
#ExtendAuditDueDate
#Extend_Due_Date_Immediately
#Extend_due_date_now

[Abhishek Raja "Ram" | Revolutionary Raja Ram @abhishekrajaram]

Timely filing of ITR not linked with Money but with Responsibility and hounouring your commitments.

Release utility on time, smooth functioning of portal that's bare minimum.

#Extend_Due_Date_Immediately
#extend_ITR_TAR_duedates
#Extend_due_date_now

[Chartered Accountants Association, Surat @caas_org]

When the portal fails, taxpayers pay.
When utilities delay, taxpayers pay.
When officials snooze, taxpayers pay.
When taxpayers ask for time compensation, they call it “crying for extension.”
But infact it is tax terrorism in slow motion.

📄 Read our letter: https://t.co/K8FfN80jlt

#TimeCompensation #TaxAudit #Accountability

[CAclubindia @CAclubindia]

More Than 40 deductions or exemptions available under New Tax Regime For FY 24-25: Check Before Filing

The New Tax Regime for the financial year 2024-25 offers a total of 45 deductions and exemptions. Let's check what those are-

[CA Himank Singla @CAHimankSingla]

Ease of Doing Business in India...?

Here is the SHORT list that one would need to run a small business just to stay tax-compliant in India:

GST Returns & Compliances:
GST Registration and timely amendments
Monthly or Quarterly filing of GSTR-1 and GSTR-3B
Annual GSTR-9 and audit reconciliation via GSTR-9C
Matching ITC with GSTR-2B regularly
Computing Reverse Charge Mechanism liabilities
Managing interest and late fee adjustments
Generating and managing e-invoices and e-way bills
Maintaining HSN-wise outward/inward summaries
Renewing LUT for exporters and filing refund applications
Annual GST audit where applicable

TDS Returns & Compliances:
Obtaining and maintaining TAN
Timely monthly deposit of TDS through Challan 281
Quarterly filing of TDS returns in Form 24Q, 26Q, 27Q
Corrections and justifications via TRACES portal
Issuing Form 16 and 16A to employees and vendors
Applying for lower/nil deduction certificates via Form 13
Validating vendor PANs and correcting mismatches
Calculating interest for late deduction or deposit
Avoiding penalties under Sections 234E and 271H

Income Tax Returns (ITR):
Choosing the correct ITR form (ITR-1 to ITR-7)
Filing Balance Sheet, Profit & Loss and Tax Audit Reports
Opting or opting out of presumptive schemes under 44AD/ADA
Reporting foreign income and claiming DTAA relief
Reconciling AIS, TIS and Form 26AS data
Declaring exempt incomes with documentation
Paying advance tax on time to avoid 234B/C
Computing MAT/AMT if applicable
Filing revised or updated returns if errors arise
Tracking brought forward losses and unabsorbed depreciation

PF, ESI & Labour Returns:
Registering under EPF and ESI and linking employees
Uploading ECR file and generating challan monthly
Submitting Form 5A, employee details and nominations
Contributing to Labour Welfare Fund as per state rules
Filing returns under Bonus, Gratuity, and S&E Acts
Maintaining registers for wages, leaves, and attendance
Facing periodic inspections from labour officers
Notifying ESIC on workplace injuries and medical claims
Ensuring PoSH Committee formation and meeting records
Maintaining maternity and employee welfare registers

Just a small list to be a compliant taxpayer and honest employer. Nothing major!

#EaseOfDoingBusiness #ComplianceBurden #GSTReturns #TDS #IncomeTax #LabourLaws #MSME #StartupStruggles

[CA Himank Singla @CAHimankSingla]

Ease of doing Business in India... ?

Here is the SHORT list that he would need to run a small factory in India.

Core Registrations:
Company Incorp (MCA) + PAN, TAN, Udyam, GST, IEC, Professional Tax, Shops & Establishments, Trade License

Factory & Labor Compliances:
Factory License, Labour License
Standing Orders Certification
EPF, ESIC, Gratuity, Labour Welfare Fund

Workmen Compensation Policy:
Registers (Workers, Overtime, Fire Drill)
First-Aid Room + Medical Officer Registration
Industrial Canteen License, Internal Complaints Committee (PoSH)

Property & Infrastructure:
Building Plan Approval, Completion & Occupancy Certificates
Land Use Conversion (CLU)
Fire NOC, Electrical Safety, Lift License, Fire Extinguisher Installation
Boiler, Transformer, DG Set, Fire Hydrant System Approvals
Industrial Water Supply NOC

Environmental & Pollution Control:
Consent to Establish + Operate (CTE + CTO)
Environment Clearance + Impact Assessment Report
Hazardous, E-Waste, Plastic, Biomedical Waste Handling Authorizations
Ground Water Extraction NOC, Rainwater Harvesting Certificate
Effluent Treatment Plant NOC, Solid Waste Management Certificate
Noise Pollution Control Compliance
CPCB Registration

Product & Quality:
Legal Metrology Registration (weights, measures, barcodes)
BIS/ISI Certification, In-House Testing Lab (NABL)
Quality Certifications (ISO 9001, 14001, 45001, 50001)
FSSAI License (if applicable)
Barcode Registration (GS1 India)
Packaging Label Approval

Safety & Audits:
Safety Audit Certificate, Factory Equipment Safety Certificate
Calibration Certificate for all instruments
Explosive/Diesel Storage License
Machinery Installation Certificate

Financial & Trade:
EPCG License, Import Duty Exemption Certificate
AEO, RCMC, IEM, Industrial Subsidy Registration
Project Report Submission
MSME Credit Guarantee Scheme Registration (Banks: Term Loan Sanction Letter, Collateral Evaluation Report)

Intellectual Property & Marketing:
Trademark Registration + Watch Sub.
Copyright Registration
CSR Registration (if applicable)

General & Miscellaneous:
Power Connection Approval, Police Clearance Certificate
SEZ/EOU License, Export Certifications (e.g., CE mark)
Company Annual Compliance Filings (MCA, ROC, Income Tax)
Insurance Policies (Property, Machinery, Workmen, Health, Liability)
Transport Vehicle Permit, Weighbridge License

Just a small list to run a factory, nothing major!

#EaseOfDoingBusiness #MakeInIndia #MSME #StartupStruggles

[CA Himank Singla @CAHimankSingla]

Only in India:

Income Tax website doesn't work without glitches...
GST website doesn't work without glitches...
MCA website doesn't work without glitches...
EPFO website doesn't work at all!
UDYAM website doesn't work without glitches...

No accountability. No answers. Just pin-drop silence and arrogance!

But don’t worry…

"We are working tirelessly to make India a $5 trillion digital economy!"

[CA Himank Singla @CAHimankSingla]

Capital Gains Taxation Made Simple!

[Deepak Prabhu @ragiiing_bull]

All hindus should see this to know why Shravan Maas commences 15 days prior in North India & 15 days later in the west & south.