CA Sahil Patel

Practising Chartered Accountant | AICA ( Level 1) | Simplifying taxation, economy, stocks & Finance, and policy insights | Long term thinking over noise

[CA Sahil Patel @mr_sp880]

What the new 2026 UPI law actually means:

UPI is still 100% free right now. No new fees have been added today.

However, the rules behind the scenes have changed. Before this new law was passed, keeping UPI free was locked tightly into the legal code.

Now, the government has given itself the power to easily change that rule in the future just by making an official announcement. They haven't started charging anyone yet, but the legal door is now open if they ever decide to add fees later.

[CA Sahil Patel @mr_sp880]

@Ravisutanjani @grok reasons

[CA Sahil Patel @mr_sp880]

Valid frustration.
The salaried class carries a heavy burden. But GST is a flat consumption tax paid by all, while income tax is progressive.
Though direct returns feel invisible, income taxes fund defense, infrastructure, and stability the very foundation private sector jobs rely on.

[Rohit Jain @rohitjain2021]

Without audits, Chartered Accountants are just accountants. Audit is the soul of the profession

[CA Sahil Patel @mr_sp880]

This isn't about politics. It's about protecting a profession that plays an important role in the economy.

A CA is not just someone who files tax returns or signs audit reports. CAs help businesses stay compliant, improve financial discipline, prevent fraud, and build trust among banks, investors, and the government.

Reforms are welcome when they make business easier. But they should not reduce independent checks and professional accountability. The goal should be simpler compliance with stronger governance, not weaker oversight.

[CA Sahil Patel @mr_sp880]

AIS portal not working

@IncomeTaxIndia

[CA Sahil Patel @mr_sp880]

@poojaofficial5 You had 2.5 Months since utility released by Govt for ITR 1 & ITR 2. so, you should have acted proactively.

[CA Sahil Patel @mr_sp880]

Today morning, I stopped at a famous farsan shop to buy some snacks.

I had forgotten my wallet, so I planned to pay via UPI.

While my order was being packed, I noticed a board saying, "Online Payment Not Accepted."

I told the owner, "I don't have my wallet."

After a moment, he took out a QR code scanner from a box and said, "Bhau, it's morning. You should bring cash."

I replied, "I'm not asking for credit. I'm paying right now through UPI. The money will reach your bank instantly."

He immediately responded, "Who will go to the bank in the morning? Bring cash and then pay."

I said, "You can also make payments online. Almost everyone uses bank accounts and UPI now."

That seemed to upset him even more.

I walked away wondering... why do some people still see digital payments as a problem when the money is received instantly?

It's not about cash vs UPI. It's about being open to change.

[CA Sahil Patel @mr_sp880]

Income Tax Department Started Processing of ITR 1 & ITR 2 Returns heavily.
Many Clients got Intimation of Return Processing.

[CA Sahil Patel @mr_sp880]

Seeing a lot of posts this tax season about people filing their own ITR-1 & 2, often with the help of AI.
As a CA, let me be the first to say: if you have straightforward income like a salary, interest, or dividends, self filing is completely fine! 👏

However, it’s surprising to see so many of these posts coupled with harsh criticism of CAs boasting about "saving fees" and aggressively claiming AI will end our profession.

Technology empowering taxpayers is a great thing. But CAs handle complex tax planning, business compliance, audits, and litigations that go far beyond simple data entry.
Let's celebrate technological progress without tearing down professionals who dedicate years to their craft.

Why the sudden and unnecessary hostility towards CAs?

[CA Sahil Patel @mr_sp880]

Monday morning 🌄

[CA Sahil Patel @mr_sp880]

@Vivek_Investor @DietDrsayajirao @grok

[CA Sahil Patel @mr_sp880]

Monsoon paints every hill a little greener 🌿☁️.

[CA Sahil Patel @mr_sp880]

@vsvadivelfca @grok any views

[CA Sahil Patel @mr_sp880]

Despite constituting a micro minority of the population, India's income tax payers bear a disproportionate share of the national fiscal responsibility.

Expanding this taxpayer base and ensuring equitable tax compliance are crucial for sustainable economic growth and reduced burden.

[CA Sahil Patel @mr_sp880]

@CASatisharma @Prof_Dippak
Sir, this is Shayari that you used to tell during IDT class breaks.

[CA Sahil Patel @mr_sp880]

CA ki fees har saal Salary Walo ke Increment ki tarah Badhani Chahiye !

[Rohit Jain @rohitjain2021]

Har saal Salary wale ITR ke time tax ka CA ki fees ka rona rote hain fir agle saal tak chup ho jate hain....

[CA Sahil Patel @mr_sp880]

@Nobiita52 It is risky to apply for IPO which GMP is less than 40%.

[CA Sahil Patel @mr_sp880]

@CASatisharma Fact !

[CA Sahil Patel @mr_sp880]

Missed the ITR deadline?
Sec 234F late fees depend on TOTAL income, not tax payable!

New Regime: Up to ₹4L = ₹0 | ₹4L-₹5L = ₹1K | >₹5L = ₹5K
Old Regime: Up to ₹2.5L = ₹0 | ₹2.5L-₹5L = ₹1K | >₹5L = ₹5K
Zero tax via 87A rebate?

You STILL pay the fee! Belated ITR deadline is 31 Dec 2026.