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A relative of my client today called me for 4 Networth Certificates of his family for giving it to the bank. I saw the ITR & Balance Sheet as on 31.03.2025, each having an Income of more than 50 Lakhs and Capital Balance of more than 15 Crore. I quoted 15k for each certificate. What the person said actually shocked me. "He said our regular CA has quoted 5k for each certificate which I felt was high so I had contacted you and you are quoting much higher fees" I simply said please get it done from your regular CA, I can't lower it. Some few points I noticed in this case: 1. The client isn't loyal to anyone, if the other CA quotes a Rs 1000 less client will go there. 2. People earning in crores, still try to get a discount of Rs 1000/- or 2000/- 3. People nowadays to save a very few bucks can share their financial data with anyone & everyone. #CA_Practice


KPMG PLANS TO CUT HUNDREDS OF JOBS IN ITS AUDITING DIVISION




The New Income Tax Act, 2025 will prove to be helpful. It simplifies languages, reduces forms and is designed so that the average taxpayer can understand their obligations and without professional help, they can do it themselves. The monetary threshold for filing appeals has also seen some enhancement. The monetary limit for filing appeal to the ITAT, High Court, and the Supreme Court have all been increased. Income tax Appellate Tribunal earlier had monetary limit of Rs. 50 lakh. The present monetary limit is Rs. 60 lakh. For High Court earlier, it was Rs. 1 crore and it is Rs. 2 crore. Supreme Court earlier had Rs. 2 crore and now it's Rs. 5 crore. There's also an increase in the limit of disputed demand of cases that can be disposed of by the JCIT appeals. It has been increased from Rs. 10 lakhs to Rs. 25 lakhs. - Smt @nsitharaman in Lok Sabha




