@R_N_Vaghani@IncomeTaxIndia Are you sure the car is registered in her name? She lives in Bihar - why would she own a car in Mumbai. I believe as a CA we should fact check things before posting anything.
@MahuaMoitraFans most probably this car belongs to Ambanis as she came to their home for Ganpati celebrations. She lives in Bihar not Mumbai. Why would she buy a car in Mumbai when she doesn’t live here.
@MayankWadhera@sashasundar@sandipsabharwal@theicai Of course. But prima facie looks like things couldn’t have done without knowledge of the auditors. In a world where there are monthly gst returns, eway bills, how can such large fake revenue go unnoticed.
@man_AV_ Every electronic manufacturing industry in India has started in similar fashion. These are baby steps but with time we will walk and run. Don’t we celebrate when a baby starts to crawl, walk and run. Everything happens in a certain order.
@AlphaWizarDD Assuming one has other income sources, Your post tax yield would be roughly 4.6%. Rental yields are 3-3.5%. With 5-7% rental escalation pa, rent = post tax interest in 6-8 years. So technically, your 6cr FD doesn’t grow much while your house value may have appreciated.
@Prakashplutus@AshishGupta325 Sir, crude contract is not like a stock wherein in prices are in continuation. So there is no loss/profit on rollover just due to pricing gap between between different contracts.
@sab_chill_he@naveenkopparam While AI can draft replies to notices, who would ensure that the replies are correct. AI hallucinates a lot in tax matters. CAs in Big4 work 12-14 hours - maybe it can make their life easier but can’t replace them at all.
@Neend_Ki_Rani How would she react when she learns about plan emergency landings due to bird hit or plane nose getting damaged due to hailstorm? Just curious to know
@ANSHULGARG89 Pumps operate on gross margin of Rs 3-4.5/ltr ie 4%. Obviously they won’t give 0.4% margin for accepting payment. Not sure how do they accept credit cards.