Aditi Bhardwaj 🇮🇳
@CAAditiBhardwaj
Followers
14,592
Following
686
Media
455
Statuses
3,748
CA in tax practice | Superrad Academy | Expertise in taxation of shares, taxation of F&O, Intraday, RSUs, ESOPs | Quora writer | Faculty - CA students
Bengaluru, India
Joined September 2018
Don't wanna be here?
Send us removal request.
Explore trending content on Musk Viewer
بورنموث
• 454463 Tweets
ارسنال
• 445504 Tweets
سيلتا
• 443417 Tweets
Arsenal
• 239647 Tweets
Miami
• 115363 Tweets
Osimhen
• 75669 Tweets
Bournemouth
• 71421 Tweets
Liverpool
• 67635 Tweets
Saka
• 66108 Tweets
Saliba
• 60138 Tweets
#الاتحاد_القادسيه
• 57611 Tweets
Arteta
• 34287 Tweets
Indiana
• 32675 Tweets
Oklahoma
• 31294 Tweets
Norris
• 30836 Tweets
Sainz
• 25383 Tweets
#StarAcademy
• 24028 Tweets
Nebraska
• 23183 Tweets
Sterling
• 22574 Tweets
Leclerc
• 19988 Tweets
Raya
• 18691 Tweets
Louisville
• 18204 Tweets
#BOUARS
• 17430 Tweets
Trossard
• 16743 Tweets
Merino
• 16524 Tweets
Martinelli
• 15208 Tweets
Auburn
• 14258 Tweets
Icardi
• 12419 Tweets
Kaizer Chiefs
• 11321 Tweets
Canes
• 11064 Tweets
Cam Ward
• 10047 Tweets
Pinned Tweet
Applicability of tax audit & opting presumptive taxation u/s 44AD.
The issue of profit being declared less than 8% of turnover is highly debated. In my experience, not getting an audit has always invited a notice.
I have made peace with this approach.
#taxation
#incometax
32
103
471
25% surcharge on income above Rs. 2 crore is a killer tax amount.
Almost 40% of your total income goes to the govt. 🤯
Meaning half the year you work to pay to the govt only. 🥹
#incometax
#bitterpill
#surcharge
#taxfiling
#ITRFiling
152
243
2K
Tax saving hack if long term capital gains is more than Rs. 1 lac: Harvest your short term capital loss.
How?
Sell your short term shares/ units for a loss & convert unrealised loss into actual loss. Immediately buy same no. of units. Use this short term loss to set off LTCG.
78
192
1K
To the tax payers who are think that refund is the determinant to pay fees to CA.
Please don't come to us. Maaf karo 🙏
56
115
988
Step by step process for computation of total income and tax payable (with respect to an individual assessee)
New practicing CAs and professionals may also use this.
#usefulsummary
#icai
#caintermediate
#castudents
#taxation
#incometax
#icaiexams
#caexams
#superradacademy
8
254
729
In F&O, tax audit is applicable if:
- You are declaring profit < 6% of turnover or there is a loss; AND
- Total income > basic exemption limit (2.5 lacs/ 3lacs).
📌Notice extract where my client didn't have turnover above 1CR, yet was mandated to get an audit.
#incometax
81
140
667
Under the new Scheme, 8 subjects of CA Intermediate are reduced to 6 subjects.
EIS deleted, Economics deleted & 2 papers of Accounts merged to one.
Each paper to have 30 marks of MCQ.
Remarkable change for the CA students. Use this! Dedicated time & only 6 subjects to study✨
30
54
635
15 years of being a CA.. What an extraordinary ride it has been!
5 years in corporate, 10 in business..Highs and lows, re-starts, some memorable client wins & appreciations, remarkable learnings, chaos at times, many disappointments in between, tears, sweat, giving up at times..
36
21
584
Breaking news: You can now file tax audits with Aadhaar OTP. No need of digital signature !!
In the recent tax audit I filed, I completed the whole process of acceptance of 3CB-3CD & the ITR filing with only Aadhaar OTP verification.
@IncomeTaxIndia
: Super Impressed, thank you!
39
77
570
Delhi at 48 and Bangalore at 23 degrees.
I m glad I didn't marry that Delhi guy. Phew.
42
10
550
Anything I sell now in the market will attract 20% short term gain. Starting today.
Depressed.
For CAs, there is nothing to rejoice. Clients will be unhappy about the changes and make us more unhappy by talking about it.
I am going back to work and ITR filing for the day.
23
70
556
I want an extension. Not because I can't finish the work on time.. But because I need some rest and peace of mind!!
Running a marathon since a month..
#Extend_Due_Dates_Today
#Extend_Due_Date_Immediately
#taxaudit
14
340
555
TDS and Advance tax sections summarised by ICAI in the student journal. Sharing for the benefit of students writing exams in May and Nov 2023.
Professionals may also use this for AY 2023-24.
(1/2)
#castudents
#caexams
#revision
#incometax
#taxation
#icaiexams
#superradacademy
6
150
512
Just go and study. You can vote for the rest of your life.
Endless debate on icai exam dates won't change a thing. This is a bait to waste your time, your future.
CA students. Go study. Period.
41
38
492
All property sale transaction ITRs which has TDS deducted will get a defective notice.
Problem is not with the ITR filing. It is the fault in cpc software which compares sale consideration gross amount in 26AS with capital gains answer in ITR. Which is faulty.
@IncomeTaxIndia
19
80
472
There isn't a single representation from
@theicai
.
What is MY institute doing?
The profession seems to have no authority & influence over important matters. Treated like small accountants who succumb to situations.
I just get emails to pay my membership fee on time. Not done.
41
276
455
@IncomeTaxIndia
Request you to remove the password feature from the AIS and the TIS reports. It isn't required when there is already a password to the e-filing account.
Additional steps only increase the turnaround time. Lets make things simpler. 🙏
#incometax
#ITR
26
115
435
Not able to file since morning.
@IncomeTaxIndia
We want a working portal please. No extension needed. Just a working portal.😢
#incometax
#ITRfiling
#IncomeTaxSiteIssues
66
240
430
GST officers in
#Bangalore
are calling the assessees to office and demanding bribes to approve GST registration.
Effects of
#Decentralisation
of
#gst
@Infosys_GSTN
@GST_Council
@AdComEnf
@cgstblrzone
@nsitharaman
@nsitharamanoffc
@gstindia
@KarnatakaCTD
@Anurag_Office
86
143
407
I turned down one net worth certification work today. Seeing the current situation, the fee doesn't seem worth the risk taken.
#justiceForCAs
34
48
401
Don't expect anything in the upcoming budget. Just don't. Lets not keep our hopes high. It is always disappointing.
#ITRFiling
#incometax
#Budget2024
38
54
393
One of our students Harish cleared both groups of CA Intermediate. We had a small celebration with our students today.
#caresults
#caexams
#castudents
10
11
370
Name any 2 deductions without any upper limit in the Income-tax Act.
I am waiting.
#nocopying
#IncomeTaxReturn
#IncomeTax
224
19
361
All tax professionals, please note! Important update.
Rebate wont be allowed on 111A incomes or special rate incomes. We are expected to file the ITR with the tax payment and proceed.
Rebate u/s 111A not allowed inspite of TI < 7 lacs.
#incometax
#ITRfiling
@IncomeTaxIndia
31
83
362
How are ESOPs taxed in India?
Employee Stock Options are equity shares granted to valued employees of an organisation for fulfillment of certain milestones set by the company.
Once these shares are vested, employees can “exercise” their right over these ESOPs.
(1/9)
7
79
352
So people are hesitant to give me work or question my professional fee coz I look younger, cant believe I am married, have 2 kids and finished CA 14 years back.
🙄
44
8
337
When there is a tax payable, why do clients think it is a CA's fault that there is a liability?🙄
Specially in cases of two forms 16s and FD interest income where 10% TDS is deducted.
I get no commission from the govt in making you pay taxes! 🙏
#incometax
#literacy
#India
15
47
331
How to type ₹ symbol in your emails and docs?
Type 20B9. Press Alt and X together. The code will turn into the rupee symbol.
Try it! 🙂
PS: High time laptops are manufactured with ₹ short cut. Remove the $ 😇
#calife
#rupee
#ITRfiling
11
48
325
Audit was always needed when profit declared was less than 8% of turnover (and total income > BEL). This provision has not changed.
Meaning if you have other incomes > 2.5 lac and a trading loss, tax audit will be applicable, irrespective of turnover, unless you adopt 44AD.
Applicability of tax audit & opting presumptive taxation u/s 44AD.
The issue of profit being declared less than 8% of turnover is highly debated. In my experience, not getting an audit has always invited a notice.
I have made peace with this approach.
#taxation
#incometax
32
103
471
21
92
323
ITR form applicability if you are salaried and:
1. Dealing in F&O / Intraday and tax audit applies - ITR 3
2. Dealing in F&O / Intraday and tax audit does apply and not opting for presumptive - ITR 3
3. Dealing in F&O / Intraday and opting for presumptive - ITR 4
(1/2)
33
76
318
Useful summary of deductions under Chp VIA & Advance tax provisions released by ICAI. Applicable for AY 2023-24.
Students writing in May 2023 / Nov 2023 exams can use this.
#castudents
#caexams
#revision
#caintermediate
#cafinal
#incometax
#taxation
#superradacademy
(1/2)
4
100
320
What is the difference between LTCG under section 112A and 112 of the Income Tax Act, 1961?
A brief understanding:
Section 112A deals with primarily two types of assets -
✅Listed equity shares;
✅Equity-oriented funds (mutual funds having 65% or more equity).
(1/7)
6
88
315
Determination of residential status of individuals explained by a flow chart.
Practicing CAs and students appearing for May and Nov 2023 exams may refer to this.
#castudents
#caexams
#revision
#icai
#icaiexams
#cafinal
#caintermediate
#taxation
#incometax
#superradacademy
7
74
315
My student CA Tarnpreet Kaur at her convocation today!
❤️ Mighty proud.
Known her since 2017 and her transformation journey to this. Priceless.
7
6
303
Respected Nirmala Ma'am
@nsitharaman
,
It is an earnest request to address the ITR e-filing portal issues which are questioning the law itself. The due dates can't be met if the utility itself isn't accurately giving results.
Kindly clarify the rebate u/s 87A issue.
#incometax
31
103
314
As per section 54, LTCG on sale of residential house can be invested in purchase of a house property within 1 year before or 2 years after from the date of transfer.
There is no limitation on the number of existing house properties for claiming this deduction.
28
35
309
How many of us are filing our own as the last ITR today?
🙋♀️
89
14
310
We shared this with our clients today. It is a difficult step coz we send constant reminders to existing clients who probably don't understand our pain.
I am ready to let go or shift onus of responsibility on the assessee to file returns.
@IncomeTaxIndia
#extend_due_dates
🙏
22
61
302
We urge and request the govt to extend due dates today. Delay in decision is impacting the professionals greatly. Loss of clients and mental peace with risk of making errors while filing in haste.
#Extend_Due_Dates_Immediately
#IncomeTaxReturn
@nsitharamanoffc
@IncomeTaxIndia
21
256
293
I have given up. I am filing all my 87A rebate cases with a tax payable.
Cant wait for any clarifications anymore.
#incometax
#ITRfiling
29
15
295
Can't do a tax audit under so much pressure. My judgement is clouded with the hurry to finish. 😰
#pendown
is the only solution to this. I don't want my hard earned CoP at risk.
@nsitharamanoffc
@FinMinIndia
please understand that audit opinions are sacrosanct.
#Extend_TAR
10
266
286
When a new client comes to you, don't create a situation to throw the old CA under the bus. Rationalize with the client why something may/ may not have been happened.
We are of the same community. Give the benefit of doubt.
27
22
289
114
16
282
9
62
280
Income tax dept is paying personal attention to tweets of professionals who are posting issues with screenshots.
I was on call with them today where they were scrolling my account & addressing each issue.
Kudos to this micro attention being paid.
PS: They are watching us 😂🫢
25
13
274
"You ask, We answer"
We are asking for an extension.. When will you answer? 🙄
@nsitharamanoffc
@nsitharaman
@IncomeTaxIndia
#incometaxreturn
#ITRfiling
#extend_due_dates
#Extend_Due_Dates_Immediately
11
176
273
> HP loss not getting set off
> CFL schedule error to enter date
> Capital gains schedule error in totalling
My work load is well within due date.. But if we have to tackle these unresolvable issues, how does one proceed to file?
#Extend_Due_Date_Immediately
@IncomeTaxIndia
29
224
267
No ijjat for the CAs..
Be it the
@FinMinIndia
or
@sharktankindia
or the
@theicai
themselves.
Kuch aur karna chahiye tha?
29
99
264
Error in filing ITR 2. This is not resolved yet
@IncomeTaxIndia
. Trying to file both ways online and offline, but no luck.
#Extend_Due_Dates_Immediately
48
294
261
Every year ITR filing is getting more cumbersome.
Clients don't understand the agony of disclosures & the finance ministry doesn't co-operate with the professional community.
Practice like this is challenging especially when time spent is not fee commensurate.
#incometax
24
95
265
Anyone panicking yet?? 🥹
#itrfiling
#extend_due_dates
#Extend_Due_Date_Immediately
#incometax
#incometaxportal
@IncomeTaxIndia
Please consider extension. Not possible to file so many ITRs in such a short timeframe. It is cruelty and compromising on quality of work.
😢
19
154
249
My maximum for a non-audit client this time was 22k.
Salary > 3Cr
Foreign assets RSU disclosure
Sale of some of these foreign RSUs
Options trading (profit > 6% turnover)
Capital gains from Indian stocks
Other sources
I charged maximum 5000 for a ITR this time.
How much maximum did you charged?
956
62
2K
21
14
247
Happy CA day to my colleagues and friends!
15 years of being a CA and so much more to learn, so much more to do. 🤗
Keep shining 🌟
5
10
248
₹7,27,777 is the maximum Total Income (TI) to get rebate u/s 87A under new regime.
I.e. Even if TI is more than ₹7 lacs but less than ₹7.27 lacs, a partial rebate is allowed to the extent of difference between (B) Income tax liability on TI and (A) TI - 7 lacs. Rebate is B-A.
9
24
246
Filed one ITR where TDS on dividends were deducted. 26AS was extracted on June 16th - 5 days back!
Checked today and 26AS has been updated with dividends and additional TDS.
Have to revise the ITR. Will this keep happening in a loop till July 31st?? 🤕
#incometax
#ITRfiling
31
39
240
Dear professional colleagues, post anything on twitter today, but don' miss to hashtag.
#Extend_Due_Date_Immediately
#extendduedates
#Extend_Due_Dates_Today
4
313
230
It's a pity that people don't understand the meaning of internship. I have my articleship to help but the intention of the tweet was not rightly taken.
Those who wish to shame CAs and say pay your staff more, wish to tell them that first as a client you pay to the CA. Then talk.
19
4
229
Since ITR 1, 2 & 4 are available, I thought I would start filing ITRs for assessees with interest incomes/capital gains.
But, AIS & TIS report has not yet been updated.
I can already see July coming where all burden of filing will fall at once.☹️
#IncomeTax
@IncomeTaxIndia
32
43
233
Vacancy for articleship at Aditi Bhardwaj & Co. Chartered Accountants, Jeevanbimanagar, Bangalore.
We specialize in taxation matters & students will be provided a varied experience in this field. Those interested can share their resume at aditi.bhardwaj
@outlook
.com
#castudents
9
21
230
My home in Bangalore was broken into yesterday while we were away in Vizag. We don't keep much cash or jewellery at home. We were only worried about the laptops we hoard due to office requirements. They were all safe.
Moral: A CA can't take a peaceful vacation off. Hence proved.
24
11
228
Important journal entries for the chapter "Redemption of Debentures"
Recent amendment: A Debenture Redemption Reserve (DRR) needs to be created / maintained at 10% of the debentures issued in case of UNLISTED companies.
#caintermediate
#castudents
#icai
#icaistudents
#caexams
6
41
230
Have a habit of explaining everything in tree diagrams. Easy to remember.
AS 12 - Government Grants. Teaching mode on. 👩🏫
#caintermediate
#caclasses
#accountingstandards
#icai
#castudents
#icaiexams
#caexams
#superradacademy
10
10
222
Income tax e-filing portal is extremely slow. Can we have a faster site?
@IncomeTaxIndia
@nsitharaman
@FinMinIndia
61
95
223
When you love and be kind to yourself first, the world becomes a better place.
#loveforwhite
#picoftheday
6
5
223
Dear
@IncomeTaxIndia
,
54EC bonds were invested in July 2023 to avail capital gains exemption. However, the software isn't allowing data entry beyond March 31, 2023. This is an error because 54EC bonds can be bought within 6 months which can fall in the next financial year.
14
34
221
Set off & carry forward of losses sections summarised by ICAI in the student journal.
Note the requirement to file ITR on time for carry forward of losses.
Sharing for the benefit of CA students writing exams in May & Nov 2023.
Professionals may also use this for AY 2023-24.
1
64
213
Hiring for articleship at Aditi Bhardwaj & Co Chartered Accountants, Bangalore.
Interested candidates may share their resume (email in comments)
Above is for CA students who have cleared CA Intermediate or a direct entry student seeking articleship under the ICAI regulations.
1
25
210
Now, not able to login also. Constantly saying Request not Authenticated.
@IncomeTaxIndia
The struggle is real. Please help.
#IncomeTaxSiteIssues
#incometax
#ITRfiling
#duedate
20
153
213
Form TIS & AIS does not indicate whether the assessee engages in F&O / Intraday transactions. It only indicates if short term / long term assets were sold.
Hence, the need to expressly ask assessees for any transactions in derivatives for complete disclosures.
#incometax
#ITR
17
15
204
Suggest
@IncomeTaxIndia
to send reminder messages to taxpayers in the month of April/ May itself. This will avoid last minute panic when all clients contact in last 15 days of July.
Also, please amend the Act to change the due date of July 31. Portal isn't capable of July 31.
15
61
208
Last year the first extension was announced on May 20th and the second extension was announced on Sep 9th. Announcements were made timely so that work could be planned.
Request
@IncomeTaxIndia
to take similar steps so that assessees are not affected due to non-updation of AIS.
4
93
207
Income tax portal is down. Service unavailable.
@IncomeTaxIndia
@nsitharaman
@FinMinIndia
Please resolve!
#ITRfiling
#incometaxreturn
#incometax
#portaldown
25
141
208
Question: Is interest on gold loan taken for purchase of house property eligible for deduction u/s 24(b)?
a) Yes
b) No
c) Depends
140
14
201
Not able to file again. Site is throwing up errors.
@IncomeTaxIndia
#incometax
#itrfiling
#incometaxwebsite
#IncomeTaxSiteIssues
14
132
201
Stop this harassment. Stop the reminders.
Your portal was not ready on time. It is still not working fine. Disgraceful of the govt to keep the extension on hold.
@nsitharamanoffc
@IncomeTaxIndia
@FinMinIndia
@PMOIndia
#Extend_Due_Dates_Immediately
#incometax
3
193
199
Tax audit assessees 📣
Your due date for filing tax audit report and ITR is Jan 15 and Feb 15, 2022 respectively.
Kindly ignore the reminders of Dec 31, 2021 🙏
@IncomeTaxIndia
is causing a lot of inconvenience by sending them without specifying the tax audit ITR due date.
3
81
195
19
0
192
#CAintermediate
new syllabus of Paper-1: Advanced Accounting is a KILLER!
All Accounting Standards from AS 1 to AS 29 are included. This is Module 1 & 2 only.
Module 3 is not a saviour either. So if you are banking on the new syllabus.. You better keep your hopes low.
#icai
18
18
191
Summary of AS 4 and AS 5.
Extremely useful for a quick recap of these topics for CA Intermediate students.
#castudents
#caexams
#icai
#superradacademy
5
31
192
Done and dusted! Tomorrow is rest day, a bit of file management & e-verifications.
#incometax
#ITRfiling
#incometaxfiling
#IncomeTaxReturns
14
15
190
@IncomeTaxIndia
We humbly request you to consider extending due date to August 31st.
With AIS and 26AS updation happening late and the income tax portal having issues, the target of July 31st for filing umpteen no of ITRs in a short span is a tedious task.🙏
#incometax
#ITR
14
102
190
#incometax
#reporting
Form 26AS/ Annual Information Statement (AIS) reflects taxpayers' high value financial transactions as informed by banks, mutual funds, brokers & other such financial institutions to the tax department.
Following are the SFT reference numbers:
(1/7)
8
54
185
Imagine if cash were banned entirely.
There would be no scope of unaccounted income, changing hands and free flow of cash.
Do you think that day will come?
96
4
181
Interest on home loan for an under-construction property can be claimed only on completion. Till then, assessee cannot claim interest of ₹2 lacs u/s 24(b).
You can accumulate the interest during this period & start claiming 1/5th for 5yrs from the yr of possession.
#incometax
9
26
180
AS 10 (Revised): Property, Plant and Equipment
Part 1
✅ Definition
✅ Recognition criteria
✅ Recognition of Cost Incurred (When to capitalise?)
✅ Measurement at Recognition (How much to capitalise?)
#caclasses
#caexams
#icaiexams
#revision
#castudents
#superradacademy
6
30
182
Lost a very dear friend. Cant wrap my head around that we just had a chat yesterday and we were to meet on Friday.
Why are we losing people who are fit, having a healthy lifestyle and doing good for people? So unfair.
27
6
176
New tax regime 💡
If you are filing a belated return, the new tax regime u/s 115BAC cannot be adopted.
If you have opted the same with your employer and it reflects in the Form 16, the ITR will reject it and tax will be payable.
Consequences of filing late.
#incometax
9
32
177
"Something went wrong, please try again after sometime."
I wish I could say that if we missed the deadline.
#ITRfiling
#incometax
4
58
178
Taxation on sale of residential house:
If a property is held for less than 2 years, then the asset is treated as a short term capital asset. More than 2 yrs is long term.
◽Short term is taxed at slab rates.
◽Long term is taxed at 20% with indexation benefit.
1/4
#incometax
3
34
176
Savings interest is yet to reflect in the AIS and TIS reports for AY 2023-24
@IncomeTaxIndia
Assessees, please don't file in haste.
#incometax
#taxfiling
#taxation
#ITRfiling
20
23
173
We started our new foundation batch today for the December 2023 exams. New dreams, twinkle in their eyes and a limitless sky.. we are all set to achieve!
#newbeginnings
#happy
#newstart
#cafoundation
#superradacademy
Missed taking a pic of the class, so bear with my vanity 😊
20
4
170
Aspiring CAs/ New CAs may read this ✨
"Are you enjoying your life as a chartered accountant?"
P.S. I quit my job in 2014 & after that there was no looking back.
#learnings
Don't spend time on something coz you already spent so much time on it. 🌞
5
15
165