CA Nagachandra Somu (@snagachandra) header
CA Nagachandra Somu (@snagachandra) profile picture

Chartered Accountant | 🚀 Startup Consultant | 🌍 Cross-Border & NRI Taxation | ⚖️ Litigation & Appeals | ™️ Trademark Expert | 💼 Corporate Financial Advisor

Hyderabad, India
Joined February 2012
Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)Photo by CA Nagachandra Somu (@snagachandra)
If someone says AI will replace Chartered Accountants, ask them to open Twitter & search for #CA You already know what I mean😂🤣
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MCA Gives Relaxation of Additional fees and extension of time for Filing of Financial Statements and Annual return for the FY 2025-26
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eMudhra exits global SSL/TLS (website certificate) business, days after its weak keys were exposed saying this business was just 1% of its revenue However, Leaving right after the exposure sends a message that security was weak & they chose to exit instead of fixing it
Lot of noise about eMudhra today. In simple words: 8 of its digital "stamps" for certifying websites were so weakly made that one key was just the number 4. Anyone could copy them & fake a bank site Browsers have blocked them ✅ Your DSC is safe - not affected #DSC #PKI #CA
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#Big SBI data breach Around 3,900 customers details like name, mobile, DOB, address & CIF number were found on the dark web
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Lot of noise about eMudhra today. In simple words: 8 of its digital "stamps" for certifying websites were so weakly made that one key was just the number 4. Anyone could copy them & fake a bank site Browsers have blocked them ✅ Your DSC is safe - not affected #DSC #PKI #CA
eMudhra is investigating a security incident affecting a portion of our TLS certificate customers. This incident has no impact on customers using our enterprise applications, digital signature services, or other electronic signature solutions. We are actively engaging with affected TLS customers to provide the necessary support as we continue our investigation. Updates will be published at: emudhra.com/en/post/certific…
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All of us thanked @IncomeTaxIndia when they extended the TAR due dates However, we knew right then that the extension was impractical due to Navaratri and Dasara festivities Had we raised our concerns then and there, we might have been enjoying the festive season by now #TaxAuditDueDateExtension #TAR #TaxAudit
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CCMs started celebrating the extension of the due date, thinking that its their achievement
Tax Audit due date extended to 21st October 2026
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Tax Audit due date extended to 21st October 2026
The Central Board of Direct Taxes (CBDT) has decided to extend the due date of furnishing of Return of Income for Assessment Year 2026-27 in the case of persons mentioned at S. No. 2 in the Table below Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961 from 31st October, 2026 to 21st November, 2026. Accordingly, the 'specified date' for furnishing of the report of audit under the provisions of the Income-tax Act, 1961 for Assessment Year 2026-27, in the case of such persons, stands extended to 21st October, 2026 Press Release Issued.
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Does @theicai actually start caring about its members? The irony is that they are asking us to plan this on a Friday evening, followed by a bank holiday on Saturday, banks being forced to work on Sunday & a bank strike from Monday to Wednesday
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Don't laugh, it's a serious query from a non-audit client during audit season 😐 #extend_duedate_TAR #TAR_Extension #ExtendITRDuedate
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Asking for an extension is my right However, I cannot put my health at risk by working 18 hours a day or sacrificing sleep. That is purely my personal opinion #ExtendITRDueDate
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Don't know why some ICAI Branch Members, RCMs & CCMs are pursuing an extension of Tax Audit deadline only through writ petitions Were they elected to file writ petitions? I agree that something is better but Why not through ICAI?
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Dear @Infosys_GSTN @FinMinIndia, My client applied for withdrawal from 14A on 10th August 2026. Since then, Application has remained under validation & has not moved an inch When a query was raised 2 days ago, response stated that the "application is currently undergoing risk profiling as part of the registration processing workflow" How long is a taxpayer expected to wait? This is a genuine case involving a business that needs to operate Instead of introducing & implementing unnecessary measures like MDRUPI charges, Govt should first focus on facilitating ease of doing business & ensuring that essential taxpayer services function efficiently @nsitharaman @nsitharamanoffc
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It's a welcome move that my fraternity is raising its voice against the derogatory remarks made by members of an opposition party However, I would also respectfully ask: Where was the same concern when similar derogatory remarks were made on multiple occasions by members (including FM & PM) associated with the ruling party? IMO, we should apply the same principles and standards consistently, irrespective of which political party is involved
टैक्स चोरी के फर्जीवाड़े में CA का बहुत बड़ा हाथ रहता है। इनकम टैक्स ऑफिसरों ने लिखकर दिया है कि ऐसे CA के खिलाफ कार्रवाई होनी चाहिए। लेकिन 'ऊपर' से ऐसी किसी भी कार्रवाई के आदेश नहीं दिए गए, क्योंकि ये उन्हीं की 'C टीम' है। Income Tax Appellate Tribunal ने कहा है कि ऐसी टैक्स चोरी देश के लिए घातक है। इस काले धन से देश की इकॉनमी और सुरक्षा कमजोर पड़ जाएगी। इतना सब हो रहा है, लेकिन मोदी सरकार अपने लोगों को सुरक्षा कवच पहनाकर, एक्शन से बचा रही है। : @shaktisinhgohil जी 📍 दिल्ली
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Exactly why I stopped raising my voice for extensions If taxpayers and Chambers stay silent, why should professionals bear the hectic alone?
Tax Audit extension demand should ideally come from Trade Unions & Chambers of Commerce first - because the ultimate responsibility lies with the taxpayer. Then, Tax Associations should support the demand. And finally, individual Chartered Accountants should amplify the campaign on Twitter/X. But in real life, the reverse is happening. CA → Tax Associations → Trade & Industry The people most affected by the extension are often the last ones to demand it.
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CCFS Scheme 2026 extended till 15th September 2026
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Madhukar Hiregange Sir’s resignation from the ICAI Central Council is deeply alarming & raises serious questions about governance Frequent reversals in exam formats, with each Council going along without adequately considering their long-term impact on students & the profession, are concerning. This isn't an isolated issue either Sir has consistently been a strong voice on governance and tax administration, raising difficult but necessary issues. His reported resignation, along with surrender of his COP, is a loss ICAI should seriously introspect on - not brush aside This deserves answers, not silence His farewell note: linkedin.com/posts/madhukar-…
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Commission agents for refund processing?
Return filed on 23.07.2026 | refund of Rs. 62620 processed within 30 days, directly into bank account of the assessee. No agent, no cut, no commission, without visiting IT office. Only reason why middlemen and commission agents are against @nsitharaman ji .. Best Finance Minister
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One of the biggest issues taxpayers are facing: additional interest u/s 234B on Updated Returns. This has been going on for 2 years now. Many professionals, including me, have raised this with the department repeatedly but result is NIL This is a basic matter in tax law. No interpretation required. Yet the government continues to behave like a dictator on this - unwilling to even acknowledge a plain computational issue I fully understand that Govt is managing far bigger priorities & countless other pressing matters but its simply that this particular issue is small, basic & easily fixable - and shouldn't need years of representations We didn't want what the previous Govt did & they're not in power anymore. If the current Govt keeps doing the same, they may face the same heat too - if not today, then tomorrow
I have also come across many such cases. Rectification requires a lot of followups. Client is even hesitant to pay any extra fees. Some cost should be imposed on Department for such harassment.
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Social Media / Twitter fights among CAs, two categories 1. IT Cell CAs vs Normal CAs 2. Normal CAs vs Normal CAs Whether the UDIN/DSC posts were right or wrong - separate debate But #2 is a healthy fight. Pushing each other on practice and compliance only makes the profession better #PMCare #UDIN
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