ICAI

FAQ on treatment of Securities Premium Account under Ind AS on transition date

CA, CS, CMA - As the amount of Securities Premium Account had been utilised to provide for debenture redemption premium payable and to write off debenture issue expenses, what retrospective accounting adjustments in this regard are required to be done in the books under Ind AS on transition date....

Read More

Revised Ind AS Transition Facilitation Group Clarification Bulletin 5

CA, CS, CMA - It may be noted that if an entity does not have an unconditional right to defer the settlement of a liability then, the same shall be classified as current liability. In the given case, although it is expected that most of the customers will not surrender their connection and the deposit need not be refunded, but surrendering of the conne...

Read More

How to Disclose Demonetised / SBN / Old notes in Audit Report with FAQs

CA, CS, CMA - Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013 issued by the Auditing and Assurance Standards Board...

Read More

New disclosure and reporting requirement in Auditor’s Report

CA, CS, CMA - Regarding disclosure requirement and reporting requirement in the Auditor’s Report that the company has provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8th November, 2016 to 30th December, 2016. We would like to inform you that the Ministry...

Read More

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 7

CA, CS, CMA - Ind AS Transition Facilitation Group (ITFG) of Ind AS (IFRS) Implementation Committee has been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015, raised by preparers, users and other stakehol...

Read More

ICAI Proposes amendments to IFRS 8 and IAS 34

CA, CS, CMA - Exposure Draft issued by IASB on Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) is for comments only. Comments on the Exposure Draft need to be received by May 26, 2017....

Read More

Withdrawal of FAQs on Revised Schedule VI to Companies Act, 1956

CA, CS, CMA - ICAI withdraws Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012....

Read More

Apply for Common Proficiency Test to be held on 18th June, 2017: ICAI

CA, CS, CMA - Common Proficiency Test, an entry level test for the Chartered Accountancy course, is held twice a year in the month of June and December. The forthcoming Common Proficiency Test is scheduled to be held on 18th June, 2017 (Sunday). ...

Read More

Exposure Draft of Guidance Note on Division II- Ind AS Schedule III

CA, CS, CMA - Request to give comments/ suggestions on the Exposure Draft of the Guidance Note on Division II- Ind AS Schedule III to the Companies Act 2013 by 30th April, 2017...

Read More

CAs to update PAN details to avoid blocking of Income Tax e-filing account

CA, CS, CMA - It has been informed by the Income Tax Department that the e-Filing account of the members, who have not provided their PAN details to the Institute but are using e-filing account with Income Tax Department, will be blocked by the Income Tax Authorities after April 30, 2017 in case the same is not updated....

Read More

HC bans CA for issuing wrong Share Application Money Certificate

Council of ICAI Vs kailash Chander Agarwal & ANR. (Delhi High Court) - Proceeding to take cognizance of a report submitted by SEBI the Council of the Institute of Chartered Accountants constituted a Disciplinary Committee, forming a prima-facie opinion that the respondent was guilty of professional misconduct. Proceedings were initiated by the Disciplinary Committee. ...

Read More

Proved Misconduct by CA while he holds COP Punishable: SC

Council of The Institute of Chartered Accountants of India Vs. Deepak Gupta (Supreme Court) - Whether a practicing Chartered Accountant while he holds the certificate of practice issued by the Institute of Chartered Accountants of India would be liable for punishment for any misconduct committed during the existence of certificate...

Read More

CA in practice cannot run Business via Companies, Trusts & Firms

Council of Instt. of Chartered Accountants of India Vs Subodh Gupta & anr. (Delhi High Court) - The Institute of Chartered Accountants has made the instant Reference under Section 21(5) of the Chartered Accountants Act, 1949 in respect of the respondent being indicted for a misconduct other than such misconduct which is referred to in sub-Section (4) of Section 21....

Read More

HC held CA Guilty of Misconduct for non detection of Fraud

Council Of Instt Of Chartered Accountants of India Vs. Uma Shankar Jha & Anr. (Delhi High Court) - The respondent admitted that the firm J.S.Bedi & Co. was charged with the concurrent audit for the period in question and that it had carried out the concurrent audit under his supervision but denied any fraud perpetrated for the period of the audit. But surprisingly it was also simultaneously plead...

Read More

HC Stays disciplinary proceedings in Tax Audit Limit Violation issue

Shaji Poulose,Chartered Accountant Vs. ICAI (Kerala High Court) - Hon’ble High Court of Kerala has stayed the disciplinary proceedings initiated by ICAI against CA Shaji Poulose for exceeding the limit on number of tax audits. IN THE HIGH COURT OF KERALA AT ERNAKULAM Present: THE HONOURABLE MR. JUSTICE P.B.SURESH KUMAR Wednesday, the 3rd day of August 2016/...

Read More

Reg. Committee to dispose disciplinary cases in Profession Institutes

No.1-CA(10)/199/2017 - (19/04/2017) - The Government, in supersession of its earlier Order dated 27th March, 2017 has issued a revised Order dated 10th April, 2017 amplifying the Terms of Reference of the High Level Committee to look into issues related to disposal of the disciplinary cases in the professional Institutes....

Read More

ICAI added 5 new cities where CPT exam will be held in June 2017

Notification No. No.13-CA(EXAM)/CPT/June/2017/II - (15/03/2017) - It is notified for general information that Burhanpur, Chhindwara & Rewa (in the state of Madhya Pradesh) and Bhiwandi, Ichalkaranji (in the state of Maharashtra) are added to the list of cities where the Common Proficiency Test (CPT) is scheduled to be held on 18th June, 2017...

Read More

ICAI forms group to recommend on Election of VP & counting of votes

No.M-626/2017 - (22/02/2017) - The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017, has constituted a Group for making recommendations in the matter of Election of Vice President and all allied matters including counting of votes...

Read More

ICAI Increases Entrance, Annual Membership, COP & Restoration Fee

Notification No.1-CA(7)/179/2017 - (09/02/2017) - Council of the Institute of Chartered Accountants of India, with the prior approval of the Central Government, wherever required, hereby notifies the following rates of fee for entry of name in the Register of Members, annual membership fee, annual certificate of practice fee and fee for restoration...

Read More

ICAI Code of Conduct for elected, Co-opted & Nominated Representatives

No. ICAI /ESB/2016/02 - (22/12/2016) - This Code applies to elected and nominated members to the Council, Regional Councils and Managing Committees of Branches; and also to members nominated by the Institute to other bodies,...

Read More

Recent Posts in "ICAI"

ICAI Proposes amendments to IFRS 8 and IAS 34

Exposure Draft issued by IASB on Improvements to IFRS 8 Operating Segments (Proposed amendments to IFRS 8 and IAS 34) is for comments only. Comments on the Exposure Draft need to be received by May 26, 2017....

Read More
Posted Under: Income Tax |

Withdrawal of FAQs on Revised Schedule VI to Companies Act, 1956

CL&CGC/ 20/ 2017-2018 (25/04/2017)

ICAI withdraws Frequently Asked Questions on the Revised Schedule VI to the Companies Act, 1956 as issued by the Corporate Laws & Corporate Governance Committee in May, 2012....

Read More
Posted Under: Income Tax |

Apply for Common Proficiency Test to be held on 18th June, 2017: ICAI

Common Proficiency Test, an entry level test for the Chartered Accountancy course, is held twice a year in the month of June and December. The forthcoming Common Proficiency Test is scheduled to be held on 18th June, 2017 (Sunday). ...

Read More
Posted Under: Income Tax |

Exposure Draft of Guidance Note on Division II- Ind AS Schedule III

Request to give comments/ suggestions on the Exposure Draft of the Guidance Note on Division II- Ind AS Schedule III to the Companies Act 2013 by 30th April, 2017...

Read More
Posted Under: Income Tax |

CAs to update PAN details to avoid blocking of Income Tax e-filing account

It has been informed by the Income Tax Department that the e-Filing account of the members, who have not provided their PAN details to the Institute but are using e-filing account with Income Tax Department, will be blocked by the Income Tax Authorities after April 30, 2017 in case the same is not updated....

Read More
Posted Under: Income Tax |

Reg. Committee to dispose disciplinary cases in Profession Institutes

No.1-CA(10)/199/2017 (19/04/2017)

The Government, in supersession of its earlier Order dated 27th March, 2017 has issued a revised Order dated 10th April, 2017 amplifying the Terms of Reference of the High Level Committee to look into issues related to disposal of the disciplinary cases in the professional Institutes....

Read More

FAQ on treatment of Securities Premium Account under Ind AS on transition date

As the amount of Securities Premium Account had been utilised to provide for debenture redemption premium payable and to write off debenture issue expenses, what retrospective accounting adjustments in this regard are required to be done in the books under Ind AS on transition date....

Read More
Posted Under: Income Tax |

Revised Ind AS Transition Facilitation Group Clarification Bulletin 5

It may be noted that if an entity does not have an unconditional right to defer the settlement of a liability then, the same shall be classified as current liability. In the given case, although it is expected that most of the customers will not surrender their connection and the deposit need not be refunded, but surrendering of the conne...

Read More
Posted Under: Income Tax |

How to Disclose Demonetised / SBN / Old notes in Audit Report with FAQs

Implementation Guide on Auditor’s Report under Rule 11(d) of Companies (Audit and Auditors) Amendment Rules, 2017 and Amendment to Schedule III to Companies Act, 2013 issued by the Auditing and Assurance Standards Board...

Read More
Posted Under: Income Tax |

ICAI to take action against CA involved in money laundering

Our attention has been drawn to the media reports regarding the raids conducted by the Enforcement Directorate on the offices of the Chartered Accountants in New Delhi, who were alleged to be involved in the money laundering and hawala like transactions through shell companies....

Read More
Posted Under: Income Tax | ,
Page 1 of 20712345...102030...Last »

Browse All Categories

CA, CS, CMA (3,347)
Company Law (3,235)
Custom Duty (6,408)
DGFT (3,335)
Excise Duty (3,988)
Fema / RBI (3,146)
Finance (3,312)
Income Tax (24,333)
SEBI (2,654)
Service Tax (3,259)

Search Posts by Date

April 2017
M T W T F S S
« Mar    
 12
3456789
10111213141516
17181920212223
24252627282930