"We trust that you will avoid using harsh language and will refrain from making unsubstantiated allegations against individuals and firms. Your constructive feedback and opinions are very valuable to all of us in the industry. "
I think it will be important to do a deeper analysis of the new ARN holder Cadre which has come up between Oct 2015 to Sep 2016. There would be a much higher proportion of spouse/ family of existing IFAs taking new ARNs especially from Apr 2016 onwards. This could be in view of reducing the service tax liability as the older ARNs could have income more than Rs. 10 Lakhs. This is a natural and practical move from the IFA side to get more post-service-tax income. However, to read this as a spectacular growth in ARNs might not be fully correct. If we look beyond the numbers at the ground reality, there are ARN holders not wanting their kids to come into this profession looking at the business being so much subject to the "whims and fancies" of the regulator.