The major reason for tax liability in initial years of Faceless assessment would be instances arising out of communications and system lacuna and errors and then Faceless appeal would further add to the fuel with the same system shortcomings instead of coming to taxpayers' rescue
The taxpayer gets a stay of demand subject to 20% tax payment during pendency of the first appeal but after order of CIT(A), taxpayer is fastened with recovery of 100% tax so more revenue minded orders out of faceless appeals and SOPs will result into undue hardships for taxpayer
The power of CIT(A) is co-terminus with the power of AO. But the present structure of CIT(A) is not at all aligned with the new Structure of e-assessment which will result in unnecessary notices of enhancement of income and duplicacy of inquiries.
India has 22 regional languages and most State land revenue records etc are in regional language. Many businessman maintain their books of accounts too in the native language. So before accepting the post of CIT(A), the Govt official shall be expected to know all the 22 languages
Most Paper book runs into 500+ Pages. The online system at present allows files to upload up to 5 MB files. 1 single Sale deed upload required me to split into 10 parts when only 1 line was imp. Many docs are required to be produced in original to establish authenticity.
• • •
Missing some Tweet in this thread? You can try to
force a refresh
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