Not resorting to any populist measures, the Government has not touched the direct and indirect tax structures in principle in the Union Budget 2013- 14; neither has it touched the middle class. Some of the experts have felt that they were expecting something more miraculous in the Budget that could tackle the existing economic issues at hand.

1. In the year 2009, the Ministry of Corporate Affairs amended Accounting Standard (AS) 11, The Effects of Changes in Foreign Exchange Rates by inserting Paragraph 46. As per Paragraph 46, in respect of accounting periods commencing on or after 7th December, 2006 and ending on or before 31st March, 2011, at the option of [...]

In partial modification of the Institute’s Notification No. 13-CA(Exam)/M/2013 dated 19th December, 2012, it is notified for general information that in view of the Election to the Karnataka State Legislative Assembly, Group – 1, Paper 2, Strategic Financial Management of Final Examination and Group – 1, Paper – 2, Business Laws, Ethics and Communications of Intermediate

This is to inform you all regarding 2013 Guidance Note on Audit of Banks as also reporting in respect of total number and amounts of debits/ credits pursuant to Memorandum of Changes issued by the bank branch auditors and reporting thereof under the “Other Matters” Paragraph in the bank branch audit report.

In partial modification of the Institute’s Notification No.13-CA (EXAM)/CPT/ June/2013 dated 2nd January, 2013, it is notified for general information that the last date of receipt of duly filled Common Proficiency Test application forms, through online or otherwise, shall be 25th April, 2013, instead of 24th April 2013 (a gazetted holiday) as announced earlier.

ICAI has released today its Guidance Note on Statutory Audit of Banks for FY 2012-13. The 2013 edition of the Guidance Note has been updated to give effect to the changes brought in by the various Master and Other circulars of the Reserve Bank of India which affect critical aspects of banking operations, generally, and the [...]

In a very interesting move which may not be a good news for practicing CA, CS, CMA etc. who are engaged in practice in the area of Law and taxation,  Rajasthan Tax Bar Association have filed a petition before  Chief Commissioner of Income Tax (CCIT), Rajasthan and urged him  to not to allow any one [...]

The Council of the Institute with a view to harmonise the differences between the Accounting Standards issued by the ICAI and the Accounting Standards notified by the Central Government under the Companies (Accounting Standards) Rules, 2006, in February, 2008

Oil and gas is the lifeline of the economy of a country. The economic health of a country, among other factors, is also measured by the amount of oil and gas that is consumed in the country India, though having ample supply of natural mineral wealth, has traditionally been an importer of oil and gas. [...]

Tax Proposals of the Union Budget 2013-14 The aim of Budget 2013-14 aptly addresses the need of the hour i.e., to accelerate growth through sustainable development and inclusive growth. The tax proposals are also in tandem with this overall aim of the budget, proposed to be achieved by focusing on key areas, such as bringing [...]