CA Shubham Khandelia

Finance is the only language that makes sense when read.

[CA Shubham Khandelia @Shubham03194]

@tata_neu
I have been unable to use the tata neu app for payments for past 7 days due to some technical errors. Whenever i scan a code, it shows to wait and then it repeats. kindly check and guide. Your bot is of no help

[CA Shubham Khandelia @Shubham03194]

@IDBI_Bank @RBI A newly incorporated Pvt Ltd Company with T/o below the GST threshold is not required to obtain GST reg. Then why is bank insisting on GST reg for opening a current acc. when other KYC documents are available? Unnecessary compliance burden needs to be addressed.

[Ankit Sawant @SatanAtWink]

Snabbit just hit 500,000 monthly jobs. Pronto went from a $12.5M valuation to a $100M valuation in under a year. Urban Company's InstaHelp crossed 50,000 daily bookings in 11 months. Combined, these three are burning through $100M+ in venture capital to solve a problem every Indian household knows intimately: finding someone to mop the floor.

Let's be real. This isn't a new category. This is a 50-million-worker industry that has always existed - offline, informal, & largely invisible. What's new is that some people have figured out you can apply the Uber playbook to it. Ten-minute promise. Hyperlocal clusters. Trained & verified professionals. Rs. 150-199 per hour.

I've been watching this with equal parts excitement & dread because I've seen this movie before. Excitement because perhaps those messages from society groups about controlling someone's salary threshold & bonus might stop & the quintessential Indian family might have to fight a company vs. another family to retain with better salaries; dread because - well, you know why!

The early acts are always beautiful. Snabbit's workers earn Rs. 25,000-30,000 a month. Pronto has ditched the commission model entirely & offers guaranteed hours. Snabbit provides life insurance, health insurance, & an SOS button for workers who feel unsafe in someone's home. Urban Company's active service professionals reportedly earn an average of Rs. 28,322 per month. These are real, meaningful improvements over the old world - where a domestic worker negotiated wages alone, had zero recourse against harassment, & could be fired on a WhatsApp message.

But here's the thing. We know how Act Two goes.

Uber drivers in India once earned enough to quit bank jobs & buy new cars on EMIs. Today, IFAT reports those same drivers earn Rs. 500-800 a day after platform commissions - a 43-57% decline from pre-pandemic levels. Platform take rates crept from 20% to 30%. The delivery radius expanded from 4km to 20km. Incentives disappeared once market share was locked. A Bengaluru cab driver recently wrote on Reddit that he works 16 hours a day, earns Rs. 4,000, & still can't save a rupee. "Cheap labour is why others can enjoy privilege," he wrote. "Either be the exploiter or be exploited."

This is the gig economy's original sin. The pitch deck says "upliftment." The P&L eventually says "margin."

Snabbit charges customers Rs. 150/hour. Workers earn Rs. 25,000-30,000/month for what appears to be full-time work. Urban Company's InstaHelp is losing Rs. 381 per order as of Q3FY26, down from Rs. 760 in the quarter before, but still deeply negative. These unit economics have to converge somewhere. And historically, convergence has meant the worker absorbs the delta.

I always ponder whether formalisation is genuinely better than the informal arrangement it replaces. A domestic worker in Bandra who works for three households directly might earn Rs. 15,000-20,000, set her own hours, build long-term relationships with families, & negotiate annual raises. A Snabbit expert earns more per month - but is now positioned 250 metres from the next job, managed by an algorithm, rated on every visit, & one bad review away from reduced assignments.

The honest answer is: both realities exist simultaneously. And that's the uncomfortable truth about how progress actually works.

India has 7.7 million gig workers today. NITI Aayog projects 23.5 million by 2029-30. The Social Security Code of 2020 mandated that 1-2% of platform revenue be allocated to a worker welfare fund. It still hasn't been implemented. Unions like IFAT & TGPWU exist with 40,000+ members, but most platforms refuse to engage with them. The Fairwork India ratings tell the story: Urban Company scored 5/10. Uber, Ola, & Porter scored 0.

So does humanity do better? Here's what I think.

Platform formalisation creates a visible top layer of workers who genuinely benefit - regular income, insurance, training, dignity of uniform & verification. Snabbit's 100% women-led workforce getting bank accounts & insurance is not a small thing. It's transformative for thousands of families. But the same platforms, at scale, inevitably create a long tail of fungible, algorithmically managed, & structurally unable-to-negotiate workers. The visibility that helps the top cohort also makes the bottom cohort easier to control.

This is the pattern across every gig category. The first 5,000 Uber drivers in Bangalore did phenomenally well. The next 50,000 subsidised their lifestyle. The first 5,000 Snabbit experts might build real careers. But when it's 50,000 experts across 200 micro markets, the math changes.

The house-help startups have a narrow window right now - maybe 18-24 months - before unit economics pressure forces the squeeze. Pronto's "guaranteed hours, no commission" model is the most worker-friendly structure I've seen in any Indian gig company. Whether it survives contact with a Series C investor asking about margins is the real test.

I hope these companies prove the Uber trajectory wrong. I hope they build something where the worker's income goes up as the company scales, not down. But hope isn't a business model. The structural incentives of venture-backed, growth-at-all-costs marketplaces haven't changed.

The question isn't whether we'll formalise domestic work. We will. The question is whether formalisation means Rs. 35,000/month with insurance & dignity - or Rs. 150/hour with an algorithm as your boss & a rating as your leash.

I genuinely don't know which way this goes. But I know the answer depends on choices being made right now, in board rooms that most of these workers will never see.

[CA Shubham Khandelia @Shubham03194]

@IncomeTaxIndia The site for the parallel comparison of the old and new income tax act section is not working since yesterday. Kindly check and guide.

[CA Shubham Khandelia @Shubham03194]

@star_orm Ticket No 22873935

[CA Shubham Khandelia @Shubham03194]

@StarHealthIns i got a message to pay premium amount of certain rupees but when I login to pay it shows a different higher amount.
What's the issue and differential charge here for.
The text amount is actual and website amount is wrong and higher

[CA Shubham Khandelia @Shubham03194]

@star_orm Already emailed but no response has been received yet other than continuous spam to pay the premium

[CA Shubham Khandelia @Shubham03194]

@IndiGo6E IY5Q8N

[CA Shubham Khandelia @Shubham03194]

PNR IY5Q8N flight was rescheduled and was given an option to continue/cancel&claim full refund and I cancelled and opted for full refund
But now it is not showing any details regarding refund and its irritating that no refund details is shared yet.
Last Name: Khandelia
@IndiGo6E

[CA Shubham Khandelia @Shubham03194]

@IndiGo6E Hi, I have received a message for refund of 7629.00 whereas my ticket price was 8148.00 and in the case of rescheduling by the company itself, i am eligible for full refund. Hence, refund of Rs.519 is yet to be credited

[CA Shubham Khandelia @Shubham03194]

@Cleartrip Hi, I have received a message for refund of 7629.00 whereas my ticket price was 8148.00 and in the case of rescheduling by the company itself, i am eligible for full refund. Hence, refund of Rs.519 is yet to be credited

[CA Shubham Khandelia @Shubham03194]

@Cleartrip
A trip cancellation refund which has been credited to your account by indigo has not yet been credited to my account. No answer over call or email.
I need this expedited.
Trip id 251120717820

[CA Shubham Khandelia @Shubham03194]

@IndiGo6E Thank you

[CA Shubham Khandelia @Shubham03194]

@HDFCBank_Cares Resolved.

[CA Shubham Khandelia @Shubham03194]

@HDFC_Bank @HDFCBank_Cares @RBI
I raised complaint regarding amount being debited from my HDFC pixel c.card ending 6705 which didnot went through at the merchant portal and therefore the amount should have been reversed by now. But, no support other than shitty cold replies.

[CA Shubham Khandelia @Shubham03194]

@HDFCBank_Cares No response has been received yet and the statement has been generated which I won't be paying until the transaction is reversed.

[CA Shubham Khandelia @Shubham03194]

it has been more than 15 days, but I all get is i didnot reply through registered email. Fuck I have attached my CC statement to validate the same but same bullshit is keep getting repeated every 4 days.

[Monarch Saha @monarch_saha]

Exemption of the Persons with Benchmark Disability from the routine exercise of transfer/rotational transfer – Injustice done vide PCPO/ECoR/BBS’s Office Order No. 271/2023 Dated 28.12.2023 – Reg.

#injustice
#indianrailways
@RailMinIndia
@AshwiniVaishnaw

[Parveen Sharma @caparveensharma]

I am unwavering in my support for Sanjay sir's battle against the flawed evaluation practices at ICAI. It's time to demand accountability and ensure every exam paper is assessed with the integrity our efforts deserve. Let's reignite our collective force for this crucial cause. I call upon ALL ICAI FACULTIES TO COME TOGETHER in this fight. I never say to share any of my tweet or to retweet but this time it’s request to all my students to spread this message. #StandWithSanjay #DemandFairness #ICAIReform

I am ICAI द्वारा बार-बार GADDARI #cafinal #sanjaysaraf #icai #ssei #caexams ... https://t.co/fbktowngpt via @YouTube