The Govt’s effort to ease the tax-filing woes of common man has resulted in an unintentional side effect. Apparently, less number of aspirants are expected to sit for CA exams this year after ease of filing will lead to low employment opportunities for these students.
A study undertaken by a manpower planning firm put forth numbers that corroborate the aforementioned news. The study pegs the drop in aspirants at around 50% and also says that the numbers could fall further.
“Future job prospects are an important driving factor for anyone who chooses a particular field. Not surprisingly CA has taken a beating after Income tax filing moved online. It takes a few clicks to file your returns, especially for the salaried class. Why should anyone hire the services of a chartered accountant,” said a senior HR consultant.
Many chartered accountants have reportedly closed shop after IT dept’s move. “I used to have around 100 clients daily during the tax filing month. Now there are hardly around 10. And they too haggle a lot. I have no other source of revenue. Govt should have thought about people like us before easing norms,” said a CA who has been in the tax filing business for the last 25 years.
With the bulk of aspirants now looking at Engineering as a career, sales of cigarette, tea and maggi are expected to skyrocket. Markets reacted sharply to the news with FMCG major HUL and ITC being the top gainers.
Opposition took no time in throwing muck at the Govt and calling them out for once again rendering many jobless due to its policies.
“Economy is in shambles. Unemployment is on an all time high. Modiji should help the CA community by making tax filing complicated. I propose all tax filing should be done offline,” said Rahul Gandhi while speaking at a press conference.