CA Yogesh Setia 📚

Seen this picture yesterday on social media & developed extreme way possible. Chanels always exist in life to indicate probable solutions for tricky situations. Life is colorful we need to prefer brighter side of it. -YS #socialmedia #lifestyle #LifeLessons #life #freenenergy

@SamSiff @TaxBuddy1 No,, amount transferred in an agreement to live apart is considered as a capital receipts not subject to tax.

@TaxBuddy1 Is alimony taxed??

Shilpa Shetty received a gift of ₹12.54 crore from husband Raj Kundra. His ITR income for that year? Just ₹27.71 lakh. Tax Officer asked for the money trail and found gaps in it so he taxed it at 78%. Here’s what ITAT Mumbai did 🧵 👇

@gsd5192 @CAHimankSingla Completely agreed with you...allowing such Relaxations in udin would incourage unfair practices...

Respectfully, not having UDIN in the past year's financials highlights is a different issue altogether and needs to be read carefully. A) KEY-POINTS: A1) CCFS scheme reduces late filing fees by 90% for all pending annual filings. A2) ICAI UDIN became mandatory for statutory audits starting from FY 2018-19. B) ANALYSIS: B1) For FYs prior to 2018-19 - UDIN not required; so no issues here. B2) For 2018-19 onwards 🔹️Sections 96 & 136 of the Companies Act, 2013 require a company to conduct its AGM for a given FY by 30th September of the following year, with financials dispatched to shareholders before the AGM at least 21 days prior to the AGM date (days can be reduced if 95% shareholders give consent). 🔹️So if a company genuinely got its accounts for, say, FY 2021-22 audited and held its AGM by 30th Sept. 2022 — UDIN would have been generated within the 60-day window from financials signing at that time. In that case, CCFS is simply being used for delayed ROC filing, which is entirely legitimate. 🔹️However, if no UDIN exists, it signals that the audit itself was not completed within the statutory period — meaning the company is now seeking to backdate the signing of financials to avoid AGM default penalties under Section 96. C) CORRECT COURSE OF ACTION C1) If financials for past FYs (2018-19 onwards) are being prepared today, the auditor should sign with the current date and generate the UDIN accordingly. The company should then hold its AGM now in current times. Yes, this exposes the company to potential notice from ROC levying fines for holding AGM on a delayed basis — max. up to ₹1 lakh (flat) + max. upto ₹5,000 per day on the company and each defaulting director — but the company can get it reduced through a compounding application before the RD/NCLT. C2) As professionals, auditors must not become party to backdating the signing of financials. CCFS offers genuine amnesty for annual filing delays — it should not become a cover for misrepresenting when the audit itself was completed and when AGM was held.

After the introduction of the Company Compliance Fresh Start Scheme (CCFS) by the MCA, many companies are planning to file long-pending financial statements. However, a practical issue has arisen with the UDIN) system of our ICAI. Since UDIN can be generated only within 60 days, many old financial statements cannot now be linked with UDIN. Considering the intent of the scheme, requesting ICAI to consider introducing a one-time UDIN relaxation/exemption window for past documents being filed under CCFS so that companies and professionals can genuinely benefit from the scheme. 🙏🏻 Otherwise, professionals may be forced to adopt workaround approaches like freshly signing financial statements only for UDIN generation, which may not always be the most technically appropriate solution. A small regulatory relaxation here could go a long way in ensuring that the objective of compliance regularisation under CCFS is achieved smoothly. Would be interesting to hear fellow professionals’ views as well. 🙏🏻

Bench Information: While Justice J.B. Pardiwala and Justice R. Mahadevan are indeed sitting in Court No. 7 tomorrow, the itemized list reveals they are presiding over a specific batch of "Part-Heard" Service Tax matters (not related to the Delta Corp GST dispute).

🚨 $DELTA CORP WATCH: Is Tuesday "Judgment Day"? ⚖️ All eyes on the Supreme Court as the Tuesday (March 10) Cause List shows a significant shift: Justice J.B. Pardiwala & Justice R. Mahadevan are scheduled to sit together in a special session at Court No. 7. 1/n #deltacorp

Contrary to the speculation triggered by the advanced list, the Tuesday, March 10, 2026, Supplementary Cause List has just been released, and the Delta Corp vs. Union of India GST case is not listed for judgment pronouncement.

The Stakes: A favorable ruling (following the Feb 11 "Lottery" precedent) could be a massive re-rating trigger. An unfavorable one puts the spotlight on Delta’s NCLT demerger "firewall." #DeltaCorp #GST #SupremeCourt #Investing #GamingLaw

Why this matters: • They haven't sat together for weeks (split benches). • Arguments on the ₹23,207 Cr GST demand were reserved back in 2025. 💰 • Joint sittings of "Reserved" benches are the classic precursor to a Verdict Pronouncement.

@piyascode9 Gemini

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Clear your pending ROC Filings.. Don't miss this one-time chance to update your company's records and reduce financial burdens!  #MCA #CCFS2026 #CorporateCompliance #EaseOfDoingBusiness #MSME #StartupIndia #CompaniesAct2013

Timing of India US Deal. Immediately next day after union budget when tax holiday annouced for data centre's till 2047 Which of the US business will invest most? - Mr. Elon Musk? Famrlers lands would also be given to those? What else your views pls? #UnionBudget2026 #indiaUS

India USA trade deal happened Markets Going upwards now from tomorrow? Also Russia Ukraine war being stopped as claimed by Trump

What a traffic win to India over Pak...saw an interesting match after a long time... Salute 🫡to Tilak Verma Shivam dubey and all Indian team members... Rinku played first ball of the tournament and hit for 4 to Haris Rauf - Winning run.. #IndiaVsPakistan

What was the outcome of meeting dated 23rd September scheduled on agenda of creating domestic big4? @PMOIndia

@skp_82 @theicai That was in draft income tax bill, then a committee was formed to review draft bill and committe's findings were those expert in audit field should be given authority

@cayogeshsetia @theicai आपको याद होगा कुछ महीने पहले ही ऑडिट के दायरे में CS, CMA को लाया गया था, फिर विरोध हुआ और प्रस्ताव वापस लेना पड़ा... बाते लिंक करेंगे तो सब समझ आने लगेगा कि चल क्या रहा है ।

Non extenstion of tax audit due dates is part of Plan . Next parliament season bill on IIA will come which was tabled 3 years ago as well. Wake up call 4 CA and CCM #incometaxindia #extend_ITR_TAR_duedates @theicai

@yogi100 @theicai License to practice audit can't be given to them

@yogi100 @theicai Even if it happens..it should merely be a Accountants producing body not regulatory.

@_RP_2020 This bill was tabled in 2022 and chartered accountants protrsted as well... Bill was not passed then

@cayogeshsetia Sir what is IIA and what is to ICAI ??

@imcaraj Its ai generated..do actually all Chartered Accountants wear coats??

Jaipur's Chartered Accountants take a stand! With pens down strike today 24-09-2025. No audit today we're fighting for a fair and practical timeline! #PenDownStrike #TaxAuditExtension #JaipurCA #CBDT #PenDownNoExtensionNoAudit #TaxAudit

@IncomeTaxIndia @nsitharamanoffc @FinMinIndia Saiyare tu badla nahi nahi Mausam zara sa rutha hua hai.. On Income tax extension #itr #Extend_Due_Date_Immediately -#ITRDeadline #ITRfiling