Ankit Arora

Chartered Accountant in Practice |FCA |AIR42_May’12 |Nature Lover |Retweets≠endorsement
|StockMarket Enthusiastic |Fundamental_Investor |Derivative_Trader

[Ankit Arora @ca_ankitarora]

If you think adventure is dangerous, try routine. It is lethal. - Paulo Coelho

[Ankit Arora @ca_ankitarora]

#GSTDown #GSTN Portal Not working properly on Due Date.

Everytime there is a problem even after 8+ years of implementation.

[Astro Vasishtji @JiVasisht]

Important Notice ॐ -:

✓A sharp rise in the prices of rice and mustard oil is expected within the next 15 to 25 days. Everything will become clear before you. After 25 April, inflation is likely to reach its peak.

✓There are also signs of an increase in cement prices.

✓Electricity prices may rise by the end of April or in May.

✓At present, investing money in gold or silver may not be the right decision.

✓Regarding crude oil (diesel and petrol), President Trump is playing games through his daily tweets—do not rely on his statements at all.

[Ankit Arora @ca_ankitarora]

@ShivrattanDhil1 Patchworks + inadequate levellers + Tar roads constructed in instalments + lack of proper drainage & slanting for water flow.

[Ankit Arora @ca_ankitarora]

@JAI_SHAH96 @atulmodani Refer Guidance Note by ICAI on issue of Special Certificates

https://t.co/FS7VEyBVGL

Formats:
https://t.co/7Hrq81rEi6

[Ankit Arora @ca_ankitarora]

@piyushchaudhry Next stop 30% 😓

[Ankit Arora @ca_ankitarora]

(d) Restriction in use of own money. Cos Act restricts lending/advancing monies other than for business.
Can’t take loans from friends/ distant relatives.
NBFC rules for investments

Always better to run #Proprietorship over #PvtLtdCo unless looking for Invt
#CA_Brotherly_Advise

[Ankit Arora @ca_ankitarora]

Having a Pvt Ltd Company structure has its huge drawbacks & risks -
1. To save tax, profits will have to be retained in company. Giving dividend will result in higher actual tax - first 25% in Co, then same 30%+surcharge in individual. Effectively giving additional 25% tax in Co

[Sweta Jain Patil @Anuana10]

One of my clients is paying more than 5 cr in taxes per annum.
As an individual if they were to form a pvt ltd co their tax liability would be reduced by nearly 50%.
This is pure injustice to individuals as they receive nothing in return for the taxes they pay.
Instead they end up supporting countless unknown families through their contributions while cutting down on their own family expenses and sacrificing facilities from their hard earned profits just to meet tax obligations..
The tax slabs should be uniform so tht no one feels compelled to convert into a different structure merely to save on taxes..

[Ankit Arora @ca_ankitarora]

(c) Numerous Compliances for corporate structure under Cos Act. Minor defaults/ mistakes carry huge penalties.
Missed CIN / DIN have penalties in running in lakhs.

[Ankit Arora @ca_ankitarora]

@CAQM_Official @moefcc @PIB_India @CAQM_Official @dtptraffic @DPCC_Pollution With removal of GRAP-IV, can BS-IV PETROL vehicles registered outside Delhi can ply in Delhi ? Non-BS-6 vehicle restrictions were part of GRAP-IV.

[CA Himank Singla @CAHimankSingla]

GSTR-9 & GSTR-9C due date should be extended to 31st January 2026.

MCA Annual Filings wavier of additional fees should be extended to 31st March 2026.

RT if you agree.

[Ankit Arora @ca_ankitarora]

@FCSJigarShah I see this becoming a regular job if changes in the V3 methodology are not made soon. Billable work is not in sync with time involved due to absence of a proper working portal.

[Sankshay Babber @Bsankshay]

They'll show you a bad side of dogs online but never the real side that is this. #SaveIndianDogs

[Ankit Arora @ca_ankitarora]

@kawal279 Get in touch with those who knows 😀. Not every finger is equal, similarly, every CA has its own field of work. But yes, if he’s not well versed, he shouldn’t take up the assignment.

Kabhi mauka do milne ka 😇, shayad aapki kuch life aasan ho jaye !

[Ankit Arora @ca_ankitarora]

This is reality. Most of my fellow professionals don’t get into depth of client’ business to understand requirement.
Reason for most is quantum of fees wrt efforts involved.
And those who have knowledge & expertise - either don’t get matched with good clients or not paid enough

[Kawaljeet Singh @kawal279]

I am totally surprised how CAs with 10 plus years of experience don’t know the basic taxation about FnB business.
Input tax, TDS, zomato swiggy sales etc etc
Have found at least 8-10 cases in the last 1 year!

[Ankit Arora @ca_ankitarora]

Unlike GST / Income Tax Portal, environmental Capacity to handle simultaneous fireworks cannot be increased. It will need days to clear up mess caused by this 1 day event whose inception was with simplicity & humbleness by lighting diyas not firing crackers.

[Ankit Arora @ca_ankitarora]

Such a lame logic. Eat seven days meal in a single shot & you’ll choke, same happens with air when EVERYONE in city starts burning crackers at same-time comparing it with only a few in staggered times.

Cities are chocked with pollution.
Compounding works in real life too

[CA Himank Singla @CAHimankSingla]

oh भाई, बात बस इतनी है कि अगर pollution की चिंता सच में है, तो वो हर जगह दिखनी चाहिए... सिर्फ़ festivals पर नहीं।

जब IPL के matches में fireworks चलते हैं, weddings में crackers फूटते हैं, political rallies में आतिशबाज़ी होती है, तब किसी को environment याद नहीं आता।

पर जैसे ही Diwali आती है, अचानक सबको awareness और pollution control की याद आ जाती है।

अगर हम सच में बदलाव चाहते हैं, तो सोच selective नहीं होनी चाहिए।
Problem से लड़ना है तो हर level पर लड़िए चाहे वो industrial pollution हो, traffic emissions हों या public events की fireworks हों।

त्योहारों पर moral science lectures देने से ज़्यादा असर तब होगा जब हम सब मिलकर हर दिन के pollution sources पर ध्यान देंगे।

कहने के लिए अनपढ़ जमात बोल दिया, पर irony ये है कि मैं एक Chartered Accountant हूं जो रोज़ financial statements पढ़ता हूँ और tax laws समझाता हूँ।

[The Startup CA @mehulshahca]

Fight to prove that Income Tax portal really had glitches continues.

Writ filed in Gujarat High Court in name of Vipasha Mehul Shah along with CAAS and others.

#extend_ITR_TAR_duedates