ICAI Website on Disciplinary Mechanism – https://disc.icai.or Dear Professional Colleagues, Greetings from the Institute of Chartered Accountants of India! At the outset, we at ICAI sincerely hope and wish that all of you are doing well and keeping yourself and your family safe from unprecedented life threatening COVID – 19 pandemic. When the entire world […]
Requirement of mandatory completion of 2 Structured CPE Hours, each on the topics of ‘Standards on Auditing’ and ‘Code of Ethics’ during every Calendar year, from Calendar Year 2020 onwards in Online/Virtual mode for COP holders and grant of structured CPE hours through Virtual CPE Meetings. Considering the interest and well-being of the members and […]
Notification No. 27/2020- Central Government notifies ‘Cochin Special Economic Zone Authority’, Kochi (PAN AAAGC0659L), a authority constituted by the Government of India, in respect of the specified income arising to that board under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 27/2020-Income Tax […]
In re Problems and Miseries of Migrant Labourers (Supreme Court) We take suo motu cognizance of problems and miseries of migrant labourers who had been stranded in different parts of the country. The newspaper reports and the media reports have been continuously showing the unfortuanate and miserable conditions of migrant labourers walking on-foot and cycles […]
In a news item in today’s Business Line it has been reported that SEBI has discontinued the use of POA between a client and broker in the equity markets. This is not correct – there is no restriction imposed on use of POA by broker.
Various representations have been received wherein the issue has been decided against the registered person by the adjudicating authority or refund application has been rejected by the appropriate authority and appeal against the said order is pending before the appellate authority.
After considering the lock down situation arising due to COVID-19 pandemic, it has been decided that period of 60 days granted to the Associations/NGOs vide this Ministry Public Notice of even number dated 18.3.2020 to enable them to apply for fresh registration after electronic submission of missing Annual Returns on the Portal along with the prescribed penalty, has been further extended for another 60 days.
Pandurang Ganpati Chaugule Vs Vishwasrao Patil Murgud Sahakari (Supreme Court) (1) (a) The co-operative banks registered under the State legislation and multi-State level co-operative societies registered under the MSCS Act, 2002 with respect to ‘banking’ are governed by the legislation relatable to Entry 45 of List I of the Seventh Schedule of the Constitution of […]
Auditing and Assurance Standards Board (AASB) of ICAI Institute of Chartered Accountants of India This document has been prepared to highlight key areas of focus in the current environment when undertaking procedures relating to subsequent events in accordance with the Standards on Auditing (SAs). This document does not amend or override the SAs and it […]
T. Krishnamurthy Vs ITO (Madras High Court) This is a case where details of investment in shares and immovable property were not originally disclosed by the petitioner at the time of filing of the original returns under section 139 of the Income-tax Act, 1961 for the respective assessment years. Therefore, two notices under section 148 […]
