Well I can give 100 reasons why would a Taxpayer need Services of a CA for filing return of income. @IncomeTaxIndia@nsitharamanoffc You should consider removing this derogatory comment for a profession which helps you fulfil your Targets and is a catalyst for tax collection
You will need CA because CPC @IncomeTaxIndia will wrongly disallow losses in case of LLP which is not subjected to tax audit but subjected to LLP audit and where Govt has extended due date u/s 44AB but #CPCBangalore fails to realise that S. 44AB uses words "audit under any Act"
You will need #CharteredAccountant because CPC @IncomeTaxIndia will treat all your returns as defective u/s 139(9) and treat it as never being filed as your turnover is less then shown in 26AS. #CPC does not know that a taxpayer may follow Cash basis and such mismatch is natural.
You will need #CharteredAccountant because @IncomeTaxIndia portal suddenly shows tax demands of 2005 and earlier and automatically adjusts your future refunds. When contacted, they ask the taxpayer to bring records of 2005 when the Officer does not even have the file!
#CharteredAccountants have to attend to hundreds of useless, unproductive and non-remunerative calls from taxpayers when #CPC@IncomeTaxIndia sends unnecessary email reminders of fake outstanding demands and technical actions like "Rectification Rights is transferred to AO"
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It is said that the VALUE is in the eyes of the beholder so in the next 15 min, let me derive the VALUATION range for #Mamaearthipo with facts and figures.
A thread 🧵
#mamaearth became the 1st unicorn in 2022 with signs of profitability and is likely to be the 1st new age D2C Startup to have an IPO after audiotech brand #Boat withdrew its IPO plans earlier this year citing uncertain market; it is imp to understand the positioning of #Mamaearth
Although D2C Startups command a higher Valuation, approx 60% of the Sales of #mamaearth comes from third party e-commerce marketplace including Amazon, Flipkart and Nykaa
Honasa Balance Sheet shows huge Trade receivables of 141 Cr which shows that it is dependent on offline sales
In every MLM scheme, you need a Product to be marketed where the early participants gains whereas the last entrants lose money and are struck
In case of #Mamaearthipo , the "shampoo" is not the Product but the "Founders" are the Product.
Lets understand the Game!
A thread(1/n)
1. The Startup has raised $126 million ( 1000 Cr ) in 8 rounds to reach at the revenue of 920 Cr.
It is like paying you Rs. 100 to buy their product of Rs. 92
2. This game is for the Riches first wherein the early stage investors has to back the Startup to rope in more investors "but at higher Valuations" and it goes on while the Founders keep on paying ( burn cash) to make ppl buy their products to show growth #Mamaearth
Salient features of Code of Civil Procedures which every common citizens should know
A thread ( 1/n)
There are High Courts, District Courts and civil courts sub-ordinate thereto and Small Causes Court to which a Plaintiff can lodge his case (plaint) and the other party is called Defendent and the final decision is called DECREE which is formal expression of an adjudication.
Plaint is someone whose right is infringed and case is named "Plaintiff vs Defendent"
If case against Govt then "Plaintiff vs UOI or vs State"
The person in whose favour decision is passed will be called decree holder and other party is called judgement debtor.
Explore #Vincom Mega Mall Royal city or Vincom Mega Mall Smart city (has Kids Park for Rs. 500/-)
Spend time at lively Old Quarters Hanoi with nearly 40 streets and end the day with Coffee #TrainstreetHanoi
So here comes an "An Idea + flamboyant Founders who can Pitch + a legal entity" packaged as a Product wherein an existing investor is expected to recruit new investors at higher valuation.
New Age Investors are happy when their money is burnt with no resulting revenue growth because if there is enough revenue; to fund the expense means no need of follow-round