Niket Agarwal

Chartered Accountant by day, music and movie lover by night. Always on the lookout for good investment opportunities. Spiritual and occult enthusiast.

[Niket Agarwal @niket0309]

@anjali_asks Fees should not be corelated to income of client IMO. Skill and Efforts required to complete assignment must be seen..

[CONSTITUTION X 🇺🇸 @ConstitustionX]

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[CA. Dhairya Keshri @Dhairya__tweets]

Client: "I filed my ITR myself. Why have I received a tax demand of ₹15,420?"

Me: "You had already exercised the option for the old tax regime in AY 2024–25 by filing Form 10-IEA. While filing your ITR for AY 2025–26, you unnecessarily filed Form 10-IEA again and selected the option to re-enter the new tax regime."

"As a result, your return was processed under the new tax regime, but you had claimed deductions available under the old regime. Those deductions were disallowed, leading to a tax demand of ₹15,420."

A single wrong selection while filing an ITR can completely change your tax liability.

That's why filing an ITR is not just about entering figures, understanding the legal provisions is equally important. Always consult a competent tax professional or a Chartered Accountant before filing your return.

[Taxation Updates (CA Mayur J Sondagar) @TaxationUpdates]

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— CA Mayur J Sondagar | @TaxationUpdates #TaxationUpdates

[Niket Agarwal @niket0309]

@rambajajgst ITR-3 not released yet for filings...1 mahina badhaya toh extra time toh nahi milna chaiye na😂

[Niket Agarwal @niket0309]

@CAHimankSingla IMO, Section 2(20) defines Business and Section 58(2) speaks about Specified Business. If this interpretation that All Business is Specified Business is taken, it would defeat the purpose of Defining business at 2(20).

To be a Specified Business or not is elective u/ 58

[Niket Agarwal @niket0309]

@rambajajgst Difficult Questions are seldom answered..especially in the Indian Judiciary...Pathetic conditions🥹

[Amit Shah @CA_AmitShah]

Does the Information Technology Act applicable Only to the General public or it also applies to Companies who manage Government portals like MCA, GSTIN, Income Tax etc?

Those Companies are the Big Big Offenders of leaking data and sharing personal information without consent!

[Niket Agarwal @niket0309]

https://t.co/hZuYqgOopU

India’s policy logic: protect raw materials, tax finished goods.

So aluminium is cheap to export, but expensive to use domestically. Result? Indian manufacturers of finished products get squeezed—can’t compete globally, can’t price locally.🤦

[Niket Agarwal @niket0309]

@Sudhirhalakhndi Can't we take the relief of Erstwhile Form 26A claiming that tds was not deducted but income was duly offered by recipient in his ITR thereby absolving Firm of the "Assessee in Default" status and avoiding expense disallowance?

[Niket Agarwal @niket0309]

@GabbbarSingh

[CA Ruchita Vaghani @R_N_Vaghani]

We are Against Freebies.✊

[Abhas Halakhandi @AbhasHalakhandi]

TRACES portal has been revamped, but every revamp should not come at the cost of mental harassment of taxpayers and professionals!!

While registering TAN of a Company/LLP, the system is asking to link TAN with PAN through the TAN change Request form.

While Incorporation, both PAN and TAN are allotted by the Dept. & mentioned on the same Certificate of Incorporation. No seperate linking was required earlier.

Due to this technical issue on the revamped portal, TAN registration and account login are not possible from last 10 days.

Request @IncomeTaxIndia to urgently resolve this issue.
Request professionals to please rt & comment if facing same issue🙏

[Niket Agarwal @niket0309]

@CA_AmitShah Even when a doctor gives Dark honest opinion woh Yamraj jaisa hi lagta hai and everyone asks for a second opinion! 😂

Can't say much about advocates..Mamla Legal ho jaayega😎

[CA Akhil Pachori @akhilpachori]

Form 41 is the new form for DTAA relief

The old one was 10F

#incometax

[Niket Agarwal @niket0309]

@raghav_chadha What about the legacy records and the ongoing disputed records? How to put that on Blockchain Ledger? Maybe new registrations can be started with

[Niket Agarwal @niket0309]

Goa Airport lounge - what a pathetic joke! No comfortable seats anywhere, food was straight-up shitty, the place smelled like a dump, and 0 premium vibe. What’s the point of these card benefits anymore? Lounges are getting harder to access day by day..only for THIS garbage?🤦

[Niket Agarwal @niket0309]

@ravihanda I think more than the fact ki kya hai...aage ka earning/accumulation perspective decide karta hai ki lifestyle kaisi ho? A person with 50 Cr and no future earning perspective might not have a lifestyle better someone with 10 cr and significant earnings runway!

[Aditya Sinhal @sinhaladitya]

unnecessary caution in GSTR-3B @Infosys_GSTN @cbic_india
There can be a tax paid under RCM on supplies from URP.
How is it in contravention of Rule 36(4)?

[Gabbar @GabbbarSingh]

The only young people I see who are buying expensive cars, homes etc and dedicating it to their erstwhile poor parents, are Instagram influencers & IPL Cricketers.

Everyone else is dealing with delayed gratification. By the time you succeed, it doesn’t mean much.