In order to find out the quantum of black money parked by Indians in the country and abroad and to recommend ways to deal with the problem of black money Government had entrusted this work to three institutions in March, 2011.

The Government has approved a proposal to set up an IT platform to integrate Central and State indirect tax regime in the context of implementation of Goods and Services Tax (GST) in the context of implementation requires a strong IT Infrastructure and Service backbone to enable capture, processing and exchange of information amongst the various stakeholders in GST which includes tax payers, Central and States Governments, Banks, RBI etc.

Announcement 5th September 2012 The Institute has recently announced Direct Entry Scheme for admission to Intermediate (IPC) course for graduates/post graduates with specified marks and Intermediate level passed students of the Institute of Company Secretaries of India and the Institute of Cost Accountants of India. As a transition scheme, the Council of the Institute has [...]

The Committee for Capacity Building of CA Firms and Small & Medium Practitioners (CCBCAF&SMP), ICAI has arranged the ‘Excise & EXIM Compliance software’ for the Practitioners & CA Firms. The software is designed to facilitate Practitioners & CA Firms on various professional areas, namely Excise Manufacturing, Excise Trading and Export Import Documentation.The aforesaid software is free of cost for 2 financial years for the Practitioners & CA Firms. Please visit the website http://icai.org/new_post.html?post_id=8831&c_id=240, for details about the Excise & EXIM compliance software.

ompany Law Board while passing an order in the matter of Shri Rupak Gupta & Others v. M/s. Banaras House Pvt. Limited has taken a very serious note of the serious breach of duty by Notaries in the capital while attesting affidavits (like affidavits having blank spaces, non disclosure of the identity of the person signing the affidavits, notarization in the absence of the deponents and cases of false impersonation and false identification of deponent.

The Government had constituted an Expert Committee on General Anti Avoidance Rules (GAAR) to undertake stakeholder consultations and finalise the GAAR guidelines as well as a roadmap for implementation.

The Special Judge for CBI Cases, Saket, New Delhi has today sentenced Shri O.S.Chauhan, IAS(UT-1967), Former Additional Commissioner of Sales Tax, Government of NCT, Delhi to undergo three years Rigorous Imprisonment with fine of Rs. Five Lakh in a disproportionate assets case.

This is to bring to your kind notice that the Council has decided that the General Management & Communication Skills (GMCS) Course, presently being organized for 15 days for the CA students shall be organized twice during the period of articled training as under:

The Standing Committee on Finance has presented its report on Current Economic Situation and Policy Options to Parliament on August 30, 2012. The Committee has inter alia found that the investment climate in the country has suffered serious setback and investors confidence has been hit mainly because of the concerns over the impact of retrospective tax laws and new General Anti Avoidance Rules (GAAR).

The Committee, chaired by Dr. Parthasarathi Shome, has submitted its draft report after analysis of the GAAR provisions and noting the concerns expressed by various shareholders. The draft report has recommended certain amendments in the Income-tax Act, 1961; guidelines to be prescribed under the Income-tax Rules, 1962; circular to clarify GAAR provisions along with illustrations; and other measures to improve tax administration specifically oriented towards GAAR matters.