NipeshG

Chartered Accountant

[CA Akshit Singhal @CAAkshitSinghal]

Generic tax-audit tables often miss how F&O actually works.

F&O is 100% digital settlement so cash receipts/payments are 0%. So the real limit is a flat ₹10 Crore, no cash-% branches needed.

And an F&O loss doesn’t trigger audit on its own but only if you’d opted into 44AD earlier and exited it (44AD(4) lock-in).

Never opted in? No audit up to ₹10 Cr, even on a loss.

Simple version: Turnover < ₹10 Cr + no 44AD lock-in = ITR-3, zero audit.

PS. Always check the section, not just the chart.

[Rohit Jain @rohitjain2021]

📢 ICAI Guidance Note on Financial Statements of Non-Corporate Entities (NCEs)

For FY 2025-26, the Guidance Note is applicable to NCEs having turnover exceeding ₹5 crore.

The disclosure can be structured as:

✅ Applicable & Followed
Financial statements prepared in accordance with the ICAI Guidance Note, to the extent applicable.
⚠️ Applicable but Not Followed
The Guidance Note is applicable but has not been adopted. However, the financial statements have been prepared in accordance with applicable GAAP, Accounting Standards and other statutory requirements.

🔹 Not Applicable but Voluntarily Followed
The Guidance Note is not mandatorily applicable, but the Entity has voluntarily adopted its principles of presentation and disclosure.
📌 Separate General Disclosure:
Suitable modifications in presentation, classification and disclosure may be made, wherever necessary, for better presentation and consistency/comparability with the previous year.

From FY 2026-27, the Guidance Note applies to all NCEs.

[Akash Chaudhary @Akash17971]

@Anvith_ Abakkus Small Cap is the king 🔥

[CA Ram Bajaj @rambajajgst]

Retweet For Reach

Reverse Charge Mechanism (RCM) under GST — Goods &amp; Services, at a glance:

For Regular GST Updates, Join this Group
https://t.co/zKZbZT1tyq

[Vara Tweets 🪷 @2Varalakshmi]

🛑 Soaking guavas for 2 hours exposed this :

[Nilesh Shah @NileshShah68]

We publish our fund performance statistics on a Regualr basis for the last 26 years.

We publish detailed Product Note on each of our funds on a Regular basis.

We conduct Monthly call with our Partners and Investors to share our asset allocation views.

All these are available on https://t.co/ALu3cJV8za along with a detailed Fact Sheet.

Majority of our equity funds have outperformed benchmark indices for the majority of past period as of July 31, 2026.

This outperformance is happening despite severe constraints faced

- Our equity funds being open ended carry cash balances up to 5 % to meet redemptions where as index carry no drag of cash balance. The adverse impact on fund performance is 35-50 basis points.

- Our Equity Funds incur transaction costs like STT and Brokerage for every investor subscription and redemption whereas Index carry no such transaction costs. The adverse Impact on a small AUM Fund cound be more than 50-100 basis points.

- Our Equity Funds incur impact costs for portfolio changes even though index inclusion and exclusion happens at closing prices for indices.

- Our Equity Funds can't invest beyond 10 % in a stock even though index doesn't have any cap on stock weight

- Our Equity Funds have to follow regulations like waiting for RBI approval to hold more than 5 % in a Bank or as a Group not to own more than 15 % in a MII company like MCX.

Despite all these constraints we continue to deliver value to our unitholders.

[The Startup CA @mehulshahca]

My Verdict

Door 2: file. Door 1: Run the FMV maths, get the cost -base position in writing, and check FEMA before you settle tax.

If you liked reading this, RT the first tweet https://t.co/ax7utxF9Xo

[CA Rajendra Sharma @carajendra89]

🚨 FAST-DS 2026: Foreign Asset Disclosure Window

📅 16 Aug – 31 Dec 2026

Undisclosed foreign assets/income up to ₹1 Cr → 60% effective tax.

Specified assets up to ₹5 Cr may qualify for a ₹1 lakh fee, subject to conditions.

⚠️ ₹5 Cr is a ceiling, not a slab.

📌 Foreign bank accounts, RSUs, ESOPs & shares? Check your position before 31 December 2026.

#FASTDS2026 #ForeignAssets #IncomeTax #TaxCompliance

[HOUSE PORN @HOUSEPORN___]

Sh*t up and take my money 😩

[Indian Tech & Infra @IndianTechGuide]

Tesla’s view of Indian traffic is wild.

[Rahul Nanda @rahulnanda86]

Mumbai Mega Crocodile - Archived Footage (1994)

Made using Seedance 2.5 + GPT Image 2.

[Rahul Nanda @rahulnanda86]

Mumbai Mega Crocodile - Archived Footage (1994) Made using FLUX 3 - Text To Video.

BLOWN AWAY BY THE REALISM!!

WICH ONE DO YOU PREFER!?!

[Maya💫 @Mayavision12]

🚨 which type of eyephone are u using? Comment it 👇

[Dr. God Abeg ooo @josh_uglyasf]

15. And the most important upgrade of all. Upgrade your self image.

Upgrade everything. Starting with how you see yourself.

[Savoir Vivre @InterferonEi]

It's not Ladakh trip, it's bro's journey to office parking from gate 😂😂😂

#DLF #Chennai
Credit to original creator 🙏
@HiHyderabad @ApnaSecbad

[Asarpal Singh @singh_asarpal]

मिस्टर A और B के झगड़े में खाड़ी देशों का हाल 😃😃😃

[Dr. God Abeg ooo @josh_uglyasf]

11. Protect your knees, back, and sleep like they're irreplaceable — because at 40 they nearly are. The way you treat your body now becomes the body you live inside at 60. Small daily care — stretching, walking, sitting less — costs minutes and saves years of pain. Your joints don't send loud warnings until the damage is done. Movement is the cheapest medicine that exists.

[Dr. God Abeg ooo @josh_uglyasf]

7. Audit your circle and step back from anyone still running from their own life. At 40+ your people should be building, not numbing every weekend and mocking ambition. You absorb the standards and ceiling of the five people closest to you, whether you notice or not. You can't rise surrounded by people committed to staying stuck — your growth makes them uneasy and they'll pull you back.

[Dr. God Abeg ooo @josh_uglyasf]

4. Sleep and wake at the same time for 30 days, weekends included. After 40, an inconsistent sleep schedule hits harder and takes longer to recover from.
Research shows your hormones follow a circadian clock, not your calendar. I found one habit that made sticking to that routine much easier.

[Dr. God Abeg ooo @josh_uglyasf]

1. Fix your teeth, skin, and posture before spending on clothes. At 40+, grooming reads louder than any outfit. Healthy teeth, clear skin, and a straight back tell the world you still take yourself seriously, and people treat you the way you treat yourself. Posture alone changes how a room receives you before you speak. It's not vanity — it's signaling.