Are professional opportunities under CA going down?

There are CA members in Industry who are contesting ICAI election but they are also luring that our professional opportunity is going down. As I am concerned as a personal CA with 8 years of experience. I know something well about the CA profession that Development is also concerned in industry. I don't know if I will be a good or best Chartered accountant but opportunity knocks with assets in the industry of The CA profession. Now CA profession service is only a value addition service with the cheapest fees. Govt ask CA to pay taxes from your client business account but they are also cutting the opportunity of young professionals. Can I say that Govt is above CA profession. A series wise opportunity is reducing as always in the industry as follows:

1. Companies act 2013 come with Only 20 audits can be done by a single CA. After 2 years, they removed this exemption as the Companies act 1956 also does not contain this provision.
2. Income Tax Audit limit increased from 1 crore to 5 crore and now 10 crore.
3. GST audit is removed.
4. MSME company audit is in question?
5. CS signature on MSME company annual return is removed.
6. Income is exempted upto 5 Lacs through the indirect way.
7. New Tax slab of Income Tax return is also for income upto 15 Lacs.

Now the following opportunity is also created for which a young professional is required to create assets.

1. New Companies Act 2013
2. New Indian AS
3. New GST law
4. New Benami Law
5. NRI investment is increasing
6. FDI limits were removed
7. Subsidy scheme on loan and capital investment.

There are lots of negatives on industry development however there are lots of opportunities in the Indian market but limitation is like a dishonesty in development.

1. Price inflation is increasing.
2. Subsidy scheme is given.
3. New Law with all opportunities is removed.
4. The Government is tight on the recovery of Tax
5. The government's record of collection of taxes is negatively visible.
6. Investment in the market is opening with high returns.
7. Capital market is bing bang.
8. COVID fear is in question.
9. Govt fear of losing election.

Everything can not be written but this policy of election and this policy of development will never be an opportunity to understand the real picture of the economy. so please vote and ask your friend to vote.

Also Read:

• ICAI Elections 2021: A Complete Overview
• ICAI Election 2021: Election Code of Conduct
• ICAI Elections 2021 | Expectations from the New Torchbearers