A viral social media post has sparked intense debate about the lucrative nature of income tax return filing work during peak tax season. According to reports from Mint, X user Paritosh Sharma claimed that his friend in Pune, a chartered accountant who started three years ago, generated approximately ₹12 lakh in a few days by serving nearly 400 clients. The post has continued to generate discussion even after the July 31 ITR filing deadline has passed, highlighting the potential earnings during the peak tax season. As reported by Indiablooms, the post gained significant traction on social media, triggering widespread debate over the earning potential of chartered accountants during the tax filing season.
As reported by Mint, Sharma's friend charges ₹3,000 per client during the ITR filing season, which translates to the reported earnings of ₹12 lakh. The chartered accountant's business has expanded beyond basic tax filing, with clients approaching him for business registrations, accounting, and other compliance work. According to the social media post, the growing network brought so much work that the CA eventually had to hire two interns to manage the increased workload. According to Sharma's latest post, the CA began by helping friends and people in his network file their ITRs, and over the last three years, that small side practice has grown into a large client base. As reported by Indiablooms, Sharma further claimed that the CA's professional network expanded to the point where he now makes more from his practice than from his full-time job.
According to Mint reports, the July 31 ITR filing deadline was for taxpayers filing ITR-1 or ITR-2 forms who did not require audit. These forms can be submitted by individuals with capital gains, income from house properties, salary or pension, foreign assets, among others. More than 5.9 crore ITRs were filed ahead of this deadline as the government did not announce an extension this year. For many salaried taxpayers with straightforward income, filing can often be done online without professional help, but complex financial profiles require chartered accountants for accurate tax computation and compliance. As noted by social media users, ₹1,000-₹3,000 filing charges are common, with some CAs also taking 10% of the tax refund. However, as noted in recent discussions, users pointed out that clients with RSUs, heavy capital gains or NRIs are the ones who typically pay ₹3,000 or more per ITR, making the example potentially an anomaly in the current market.
As reported by Mint, social media users reacted with mixed responses to the viral post. While some were impressed by the earnings figure, others highlighted the intense workload involved in handling hundreds of ITR filings within a short period. A user noted that all CAs now ask for at least ₹10,000, while another claimed a similar Pune-based CA earns ₹80 lakh in just 2-3 months from approximately 4,000 clients at ₹2,000 per client. Concerns were raised about mental exhaustion, with one user commenting about the need to handle calls 24x7 and the lack of flexible hours compared to a regular job. Users questioned whether all 400 clients would pay on time or at all, and noted that salaried taxpayers typically pay ₹500 for ITR filing. However, some defended the earning potential, with one noting that personal consultation by CAs during ITR filing can justify such rates, and another stating that sensible people prefer CAs over online platforms at these rates.
