CA. Ashish R. Pai 🇮🇳

THREAD ALERT !! 1/n It's about time that the taxpayers make themselves aware of the situation, which was probably unknown so far. Compliance is taxpayers' responsibility, while providing proper and able infrastructure is responsibility of the government. continued ....

If you are 15yr old student in India, contemplating medicine as your career, there are a few things to consider - 1. Why do you want to be a doctor? 2. What is your track record for sustained study to the exclusion of "normal life" ? 3. What are your financial aims in life ? 4. Is at least one of your parents a practicing doctor ? I will elaborate each in the following discussion - 1. Why be a doctor - only reason should be " कामये दुःखतप्तानां प्राणिनाम् आर्तिनाशनम् l " ( i desire destruction of affliction of the ones in pain/suffering ) This may appear lofty but this is a moment-to-moment reward of practice of medicine. And this is the only thing that sustains you over 4-5 decades of work. 2. Your track record for sustained study - You need 2-3 years of preparation for medical entrance exam Another 5.5yr for MBBS Additional 3 for MD And beyond that 2-5 years of superspecialization if you choose. All these years daily you need at least 10-12 hr of classroom / lab / ward time and self study. Gets a lot worse in 3 years of MD/MS residency. If you look forward to this cognitive, physical and emotional challenge then medicine is meant for you. 3. Financial Aim - by the time you enter practice (12 years from now) - medicine is going to be very different from what it looks now. Earnings of most doctors will slip from being in top 3% earners to being in top 10-15% earners and falling. And that brings us to the last point - your family 4. If your parents are in medical profession, you will have a head start in almost all areas over those who dont. But it ends there. In the new world with oversupply of doctors, parents reputation can not hide your shortcomings. If they help you set up and run a hospital where other doctors work for you, then it is a good run. So think carefully before you stake your life. Mid life change of career is impossible. Especially for a male doctor. Your parents, teachers, society are enamoured by bygone days of prestige, honour and money in medicine. Your future is different. Think for your self. Fulfilling others' dream always ends up bad. It is a nobel profession. Joy comes in small and large packages everyday. Poverty line will be far below you. So life will be good if you know how to really live it. So think well and take the plunge. Then it is all worth it. I am a practicing postgraduate doctor since 27 years and i love my work and its rewards. I would do this again if i get a second chance. But thats me. You must decide for yourself. Good luck. DocBhooshan

Reminder msg from Income tax department. “File early! Stay relaxed. Your ITR for AY 2026–27 awaits at the e-Filing portal.” 😁😁😁 This sounds like Black Mirror. A cheerful notification pretending it’s a choice when we all know how the episode ends.

My Dear Tax Professionals, You can file the ITR, and your client can enjoy a refund without announcing it on Social Media. They are perfectly valid and legal without updating and/or announcing on Social Media. I welcome any contrary view.

CONSUMER VICTORY: First #E20 #Petrol Verdict Establishes That Fuel Policy ≠ Consumer Sacrifice It took a #Chhattisgarh car owner's persistence to achieve what regulators haven't: holding manufacturers accountable for fuel compatibility. The Setup: • Vehicle: #Maruti Suzuki Grand Vitara Strong Hybrid • Cost: ₹20L+ (including registration, insurance) • Problem: E20 petrol triggered repeated engine failures • Outcome: Either provide fuel compliant vehicle or give Full refund + ₹1.1L compensation **What's Significant Here:** This isn't just about one car. It's about who bears the cost of India's #energy transition. When the government mandates E20 fuel rollout, and petrol pumps offer little choice, the manufacturer cannot claim "customer ignorance." The burden shifts: OEMs must certify compatibility. If they fail, they're liable. The Raipur Commission didn't just rule on this case—it signaled a principle: *Policy-driven transitions must not harm existing consumers.* **Immediate Impact:** ✓ Sets precedent for similar claims ✓ Exposes manufacturers with weak E20 certification processes ✓ Forces the automotive industry to audit its "compatibility" claims This verdict may just be the first domino. #ConsumerRights #E20Petrol #IndianAutomotive #ConsumerJustice

No one raises a strong voice against the July 31st deadline. The form 16 and the AIS gets updated only end of June and there is just one month to file ITR for crores of Indians who are salaried class or non-business. Who bears the brunt of it?? The CAs. We bear the risks in fast filing.. and then get the blame too for a misreporting! The Govt doesn’t support, icai doesn’t support and clients are not bothered about giving information on time. Govt thinks Aug 31 for ITR 3&4 is a favour. Like throwing scraps for us. The CAs who spent years studying to gain respect and stature - is being treated like an insignificant being. Doing collections on behalf of the government and also being mocked at, for not giving our best. Just absolutely a dismal state of affairs. So I am raising my voice. I don’t support the FM’s ideologies anymore if the basics aren’t right. @nsitharaman @PMOIndia

When can we expect such traffic sense from a class of human beings in India ?

Very very important Judgement for salaried classes by Mumbai ITAT In a very important and far reaching judgement, Bench held that if an employer doesn't deposit the TDS he deducted from Salaries paid to his employees, still employees will get the credit of that TDS. The employee produced all the documents evidencing the TDS deducted and the bench ordered the #Incometax officer to grant him credit. In India, many companies fail to deposit the amount of TDS they deduct from salaries paid to employees including the likes of Kingfisher Airlines, Maytas, Satyam and many other companies gone into liquidation, their employees faced misery and incurred huge losses as even these companies didn't paid salaries and IT dept did not allowed credit of TDS deducted by them also levying penalities. There are many favourable judgements in this regard from the Supreme court and High courts, still the Finance ministry should ensure a mechanism to grant the credit to employees in case the employer doesn't deposit these taxes or PF, ESIC as approaching ITAT or Courts is a very lengthy and costly affair for salaried class. This will ensure good governance. Article credits @LubnaKtoi

@altrnteacct @R_N_Vaghani "Examiners pawn off their checking duty to interns". Baseless allegations like these do not mean anything. Do your fact check based on current position and system, before commenting upon anything.

@R_N_Vaghani Transparency? Trust? Disciplined? Examiners pawn off their checking duty to interns Grace marks to negate tough paper? so what even is the point of exams. 15 grace marks to a person who scored 20 and one who scored 40 - end result, both have passed the exams. ICAI 🕊️

ICAI Examinition is Far Better than Anyone in India 1. No Paper Leak in History of ICAI 2. Allowing tudents to enter up to 15 minutes after the exam begins 3. Exam centres are generally allotted within same city 4. Students are given the option to choose their preferred examination centre In an era where examination irregularities have become common, ICAI continues to uphold transparency, discipline, and trust. We are truly grateful to be under the roof of ICAI. ❤️ @theicai Jai ICAI.

⚠️ *TRACES Challan Correction — Important Update for FY 2026-27* If you deposited TDS challan in FY 2025-26 (under old IT Act 1961) but it belongs to FY 2026-27 (new IT Act 2025) - here's how to correct it👇 ✅ The new TRACES portal for Income Tax 2025 compliance does NOT yet support challan correction. ✅ Use the OLD TRACES portal (IT Act 1961) to submit correction: • Go to Statement / Payment › Request for OLTAS Challan Correction • Existing FY: 2025-26 → New FY: 2026-27 • Confirm & Submit 📸 Screenshots of the process attached.

If you have a Gmail account, you need to read this. Google's AI now scans your emails and attachments, bank statements, tax files, medical letters, all of it. It turned on by default, and there's a class-action lawsuit over how. Here are 5 moves to shut it off, the switch is hidden in two places:

@ca_shridhar @FCAPallav @IncomeTaxIndia Here's the snapshot of the 26AS generated on 08-Jun-2026, where the latest entry relates to 27-Sep-2025 ( Q2 ). Didn't the bank account for the accrued interest for Q3 of FY 2025-26, as no TDS is appearing for the same ? Unbelievable, indeed !!!

@AshishRPai @FCAPallav @IncomeTaxIndia Q3 is unbelievable

As I can understand, update in TRACES is causing major issues in the generation of 26AS & all the practitioners who have filed TDS returns need to check the status of processing of their TDS returns! One more step added! @IncomeTaxIndia if you are knowingly ignoring it, it's a bigger problem!

And the season ( of maintenance and downtime ) begins yet again !!!

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🙏

@Mumbai2PuneEway , what's the road closure status for today ? Is there any closure today on the Pune to Mumbai route like the past two days ? Need to travel at around 12 noon today towards Mumbai.

Pune's airport debate is almost always framed as a binary — Lohegaon or Purandar. That's the wrong frame. We actually have THREE airports in play, and the real question is how we sequence them. From Pune University as the reference point: ▸ LOHEGAON (PNQ) — ~12 km. Closest, but saturated. A shared IAF base with limited runway. The new T2 improves passenger experience, not capacity. ▸ PURANDAR (New Pune Intl.) — ~50 km. Two 4-km runways, 75 MPPA planned, 94% land acquired. But construction begins only in 2026. Passengers unlikely before 2030-31. ▸ NAVI MUMBAI INTL. (NMIA) — ~120 km. • Today: ~2h 45m drive • After the Missing Link (May 2026): ~2h 15m • After the 10-lane Mumbai-Pune Expressway (2029-30): ~1h 45m Read that last line again. By 2030, the FARTHEST airport on our map will be barely 30 minutes behind Purandar — and NMIA is already flying passengers today. Pune therefore needs a THREE-PRONGED strategy, not a single-bet one: ONE — Maximise Lohegaon NOW. Every civil slot the IAF can release matters. Night ops, international routes, cargo. Until Purandar flies, PNQ is all we have. Fill the second terminal to the hilt. TWO — Hold Purandar to its schedule. Construction must begin Q2 2026. No further slips. CIDCO-led SPV, PPP model — milestones must be public and tracked. A metropolitan region of ~8 million cannot keep waiting. First flight by 2031 is non-negotiable. THREE — Treat NMIA as Pune's effective third airport. The Missing Link and 10-lane expansion must stay on schedule. Run premium express bus services Pune ↔ NMIA. Strengthen Pune-Mumbai rail connectivity. At 1h 45m, NMIA is closer than crossing Mumbai itself. Today, Pune is betting everything on one asset (Purandar) that won't deliver for 5+ years, under-using an asset that's already built (Lohegaon), and ignoring an asset that's coming fast (NMIA). All three legs must stand. #Pune #Aviation #Infrastructure

The Maharashtra Profession Tax Act 1975, an enactment whose revenue is meant to support the finance of the Employment Guarantee Scheme, has come to a juncture where it itself needs support. The MahaGST Portal that was launched on 27-12-2017 has perpetually been in a state of work-in-progress. The portal enables compliance for MVAT, CST, PT Acts among others. A faulty portal is of no use either to the stakeholders or to the government. @CMOMaharashtra @Dev_Fadnavis must completely revamp the portal by taking as much time, but completely and once for all. The due dates for payment of taxes should remain unchanged for FY 2026-27. However as for the returns (MVAT, CST and PT), the late fees should be suspended for all the returns filed during the entire FY 2026-27. @Devendra_Office @MahaChiefSec @Samadhan1mahjan @girishdmahajan

@CPMumbaiPolice @MumbaiPolice @rtomumbaimh01 I am being fined for not wearing helmet where entire road of Udyog Nagar is blocked due to Neta visiting FM Banquet and no challan on such “Yuva Sena” cars !!! Just milk the common man and let go of influential politician

In the olden days, when ships used to dock in Mumbai, they used to tie their boats to the door at the harbour. The Sanskrit word for tie is Bandh and for a door, is Dwar. So the place they tied a boat was called BandhDwar. The word then travelled to Persia and became Bandar or Bunder. Which meant port or harbour So any place in Mumbai which has the word Bunder in it, was a place where once upon a time boats used to dock. So the place where boats used to dock and had a lot of sacks in it, became BoriBunder The port where Palla or Hilsa fish was available became Palla Bunder, which then transformed to Apollo Bunder The port where the Portuguese traded Horses with the Arabs, became Ghodbunder And a port which had no particular significance was called Bunder. In Marathi, this became Vandre. Which over a period of time became what we know today as Bandra The word Bunder in Mumbai is not just a pointless word. It actually represents Mumbai's maritime heritage and importance