ICAI’s SIA 110 establishes 10 Basic Principles for all internal audits, focusing on credibility (Independence, Integrity, Competence) and performance (Risk-Based Audit, Due Care). Adherence and documentation are mandatory.
The ICAI’s Preface defines Internal Audit as providing assurance on internal controls and risk management processes to enhance governance. It establishes the IASB’s functions, including formulating and reviewing SIAs, and emphasizes that compliance with these Standards will be mandatory in a phased manner for all members.
DGFT revises import conditions for pesticides and chemicals under Chapters 29 and 38 of ITC (HS), 2022, requiring CIB&RC permits and registration.
CBDT has notified a state housing authority as tax-exempt under Section 10(46A) of the Income-tax Act, effective AY 2024-25, allowing exemption for statutory development activities.
Understand how interest under the Income Tax Act is calculated, including Sections 234A–234D, 244A, and Rule 119A mechanics for taxpayers.
Certain clauses in Regulations 31A and 32 of the 2016 Liquidation Process Regulations were omitted to simplify compliance. The amendment applies prospectively to new liquidation cases, improving clarity for insolvency professionals.
GST rate cuts across steel, iron, agriculture, forest products, and tourism enhance Jharkhand’s competitiveness, jobs, and rural income.
From Oct 29, 2025, exports of chilled and frozen meat allowed only after proof of remittance to Meat Export Development Fund (MEDF), operated by APEDA.
Honda, Hero, and TVS are expanding EV production, launching new models, and integrating smart features to boost India’s two-wheeler EV adoption.
CBIC mandates online processing of Look Out Circulars via the LOC portal, discontinuing manual or email requests from March 1, 2024.
