CA Pulkit Singhal

[CA Pulkit Singhal @pulkit041992]

@CAChirag @narendramodi @PMOIndia @CAChirag @narendramodi @PMOIndia And_bhakts be like......Modi ji aap aisa nhi kar sakte

[CA Pulkit Singhal @pulkit041992]

@faruqi_zubair @Infosys_GSTN @GST_Council Facing the same error.

[CA Pulkit Singhal @pulkit041992]

@im100rya @GST_Council @FinMinIndia @nsitharaman @nsitharamanoffc @Infosys @Infosys_GSTN Facing same error.

[CA Pulkit Singhal @pulkit041992]

@dineshbatla @IncomeTaxParody 26-27

[CA Pulkit Singhal @pulkit041992]

@CAHimankSingla No funds with the Government. It's just an excuse. Simple ITRs are not being processed just to defer the refund payable.

[CA Pulkit Singhal @pulkit041992]

@AnilSinghvi_ @theicai @ZeeBusiness @IncomeTaxIndia Thank you @AnilSinghvi_ ji

[CA Anil Singhvi Zee Business @AnilSinghvi_]

ज़ी बिज़नेस की मांग 📢

Tax Filing की समय सीमा को बढ़ाना है जरूरी...⏰

कंपनियों और CAs की मांग जरूर होनी चाहिए पूरी...👍

Zee Business demands and requests CBDT to extend tax audit report filing deadline 📢

#TaxAudit #CA #CBDT #IncomeTax @theicai @ZeeBusiness @IncomeTaxIndia @FinMinIndia @nsitharaman @nsitharamanoffc

[CA Pulkit Singhal @pulkit041992]

and calming agitated clients.

**The system may be collecting more tax**, but it has **sacrificed empathy, balance, and good governance** in the process.

--- *CA Pulkit Singhal*
@PMOIndia
@nsitharaman
@nsitharamanoffc
@IncomeTaxIndia

[CA Pulkit Singhal @pulkit041992]

### **A Decade of Tax Compliance – From Simplification to Suffocation**

**Recalling the Articleship Days (pre-2015):**
The tax environment in India during the early 2010s was significantly different in terms of regulatory pressure and procedural complexity:

[CA Pulkit Singhal @pulkit041992]

Conclusion
In the name of digitisation and formalisation, compliance has become a burden rather than a tool for governance. Tax professionals, instead of being partners in nation-building, are now stuck in survival mode — navigating deadlines, reconciling mismatches,

[CA Pulkit Singhal @pulkit041992]

Today, however:

* The system seems tilted towards **enforcement rather than enablement**.
* **Fear-driven compliance** has replaced **trust-based governance**.
* Simplification has taken a backseat to **data collection and penalisation**.

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[CA Pulkit Singhal @pulkit041992]

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### **The Bigger Question – Has Compliance Lost its Purpose?**

The **core purpose** of compliance was always:

* **Voluntary tax contribution**
* **Clarity and transparency**
* **Ease of doing business**

[CA Pulkit Singhal @pulkit041992]

3. **Increased Professional Risk**
A missed deadline, wrongly opted regime, or an ITC mistake can lead to penalties and professional blame.

4. **Client Expectations vs Reality**
Clients still think "return filing" is a Rs. 1000 job, while the actual effort has quadrupled.

[CA Pulkit Singhal @pulkit041992]

2. **Staff Training & Retention**
Staff now need regular updates, tech tools, and error-proof training. Human errors are penalized, but AI-based systems (AIS mismatches) are assumed to be flawless.

[CA Pulkit Singhal @pulkit041992]

Initial promise: Even a 10th pass could file GST. Now: Even a CA requires software + technical team + internal audit to ensure accuracy.
Impact on CA Practice
1. Compliance Overload-No time for advisory, planning, or value addition. Most time is spent in firefighting compliance.

[CA Pulkit Singhal @pulkit041992]

### **The GST Parallel**

Launched with the promise of "simplified taxation" and "one nation, one tax".
Reality:
Monthly GSTR-1 and GSTR-3B, GSTR-9, reconciliation (GSTR-9C), multiple amendments. Interest on delay, late fees, and ITC restrictions based on vendor compliance.

[CA Pulkit Singhal @pulkit041992]

6. **Digitisation + Volume Surge**

* With a growing economy and digitisation, transactions (property, securities, banking) have exploded.
* Matching every such transaction and reconciling AIS/TIS is now a default expectation.

[CA Pulkit Singhal @pulkit041992]

5. **Old vs New Tax Regime**

* Decision fatigue: Which regime to choose?
* For business assessees, opting in/out is **not reversible annually**.
* Additional task of supporting documents if deductions are claimed under the old regime.

[CA Pulkit Singhal @pulkit041992]

4. **Capital Gains Complexity**

* LTCG which was once exempt (especially for listed shares) is now taxed.
* **Grandfathering clause** and **multiple LTCG tax rates (10% vs 12.5%)** have created calculation nightmares.

[CA Pulkit Singhal @pulkit041992]

3. **Increased Documentation Burden**

AIS/TIS, 26AS, capital gain statement with **grandfathering clause**, **ISIN-wise reporting** for securities.
Income tax now mimics **audit-level reporting** for even individual assessees.

[CA Pulkit Singhal @pulkit041992]

2. **Late Fee and Penal Provisions**

Automatic late fees under **Section 234F**.
Even a **Rs. 5,000 penalty** for a nil return feels disproportionate, especially for small taxpayers.