CA, CS, CMA

NOC (Communication with previous auditor) – A tool, defense, weapon or?

What should be the correct procedure to adopt when a prospective client tells you that he wants to change his auditor and wants you to take up his work? Is NOC (no objection certificate) required from previous auditor?...

Read More

Direct & Indirect Taxes Updates- November 19

A. DIRECT TAXES UPDATES i) Income Tax circulars/ notifications/ rules/ clarifications/News- November- 2019 ♠ CBDT notifies Form 16D (certificate of deduction of tax at source) and 26QD (challan-cum-statement) in relation to section 194 M (deduction of tax at source for contractual or professional payment by Individual or HUF) (Notificat...

Read More

Treatment of Lease Equalisation Reserve created as per Ind AS 17 on transition to Ind AS 116

CA Tasnim Tankiwala Ind AS 116- Leases, is effective from annual period beginning on or after 1 April 2019. Ind AS 116 Supersedes Ind AS 17 – Leases from the date of its applicability. Under Ind AS 17, lease rentals under an operating lease were recognised as an expense/income on a straight line basis over […]...

Read More

Sale and Leaseback Accounting under Ind AS 116 ‘Leases’

A sale and leaseback transaction is one where an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) for consideration and leases that asset back from the buyer-lessor. Ind AS 116 makes significant changes to sale and leaseback accounting....

Read More

Ind AS 40 | Indian Accounting Standard-Investment Property | Summary

Do you think that there is only one standard which is applicable to Property Plant and Equipment: IND AS 16 Property, Plant and Equipment. The answer is No. Aren’t you Surprised? On one hand, it’s 100% true that you are required to apply IND AS 16 for most of your long-term tangible assets, but it’s […]...

Read More

ICAI debars an examiner for evaluating answer books while travelling in Bus/Tram

It has come to the notice of the Institute that an examiner was evaluating standard sample answer books while travelling in a bus/tram. The Institute has instructed all its examiners to not to evaluate and carry answer books while travelling. Accordingly, the conduct of examiner is found to be in violation of the Instruction to […]...

Read More

ICAI announces dates for convocation of Members

ICAI Convocation 2020 is to be held as per following schedule in which members newly enrolled during the period May 2019 to October 2019 will be awarded Certificate of Membership amidst august gathering of CA fraternity....

Read More

ICAI President’s Message – December 2019

Meeting with Ministry of Finance- Return filing issues- Based on the invitation received from Ministry of Finance for making a presentation on the practical difficulties in filing GST returns...

Read More

Deploy e-Form PAS-6 & Clarify on due date of e-Form PAS-6: ICSI

We request you to arrange to deploy the e-form PAS -6 at the MCA website or issue clarification that for the half year ending September 30, 2019, the period of sixty days for filing of e-form PAS-6 would start from the date of deployment of said e-Form....

Read More

ICAI members to pay Membership/ COP Fees by 31.12.2019

It is just a gentle reminder that Membership/Certificate of Practice Fees for the year 2019-20 became due for payment on 1st April, 2019. If not paid till date, kindly pay Annual Membership/COP Fees by 31st December 2019....

Read More

CA/ Advocates should not be arrested merely for filing Tax return(s)

Akhil Krishan Maggu & Anr. Vs Deputy Director, Directorate General of GST Intelligence & Ors. (Punjab and Haryana High Court) - Similarly, arrest of Chartered Accountant or Advocates who had filed returns or otherwise assisted in business but are not beneficiary or part of fraud merely on the basis of statement without any corroborative evidence linking the professional with alleged offence should be avoided. It is well know...

Read More

ICAI fined Rs. 50000 by Appellate Authority for not complying its directions

Anil Kumar Aggrawal Vs ICAI (Before the Appellate Authority) - Authority is of the view that further period of four months be given to the Institute to complete its entire proceedings on priority. The Institute is, however, burdened with penalty of Rs.50,000/- in each appeal payable to the Appellate Authority within 2 weeks from the date of receipt of this orde...

Read More

Authority of ICAI only can evaluate Professional misconduct of member and not the Appellant-company

Wholesale Trading Service Pvt. Ltd. Vs ICAI (Delhi High Court) - Wholesale Trading Service Pvt. Ltd. Vs ICAI (Delhi High Court) Conclusion: Since Appellant-company was carrying on the activity of filing and pursuing complaints against various Chartered Accountants as an organised activity, independent of the objects for which it was incorporated, therefore, it wa...

Read More

No Professional misconduct if auditor not obtains NOC from auditor prior to existing auditor

SSAY & Associates Vs ICAI (Delhi High Court) - Ssay & Associates Vs ICAI (Delhi High Court) Conclusion: Since the accounts filed with the Registrar of Companies for the years 2006-07 to 2008-09, that is, for the three years prior to the period for which KNA was appointed, had been audited by M/s Manu Sharma and Co. and therefore, there was n...

Read More

HC imposes penalty on a company for filing various frivolous petitions against CA / CA Firms

Wholesale Trading Services P Ltd. Vs ICAI (Delhi High Court) - Wholesale Trading Services P Ltd. Vs ICAI (Delhi High Court) Before concluding, it is also relevant to note that the petitioner has been filing various petitions before this Court in respect of complaints made before ICAI, despite having no particular interest in the matter. As noticed above, the pe...

Read More

ICSI Announces 100% Fee Waiver for students of J&K & Ladakh

Government of India has taken major initiatives to bring development in the Union Territories of Jammu & Kashmir and Ladakh. The Institute of Company Secretaries of India aligning with the initiatives of the Government of India, and to achieve a growth process in which people from different walks of...

Read More

Time Table of CA Final / IPC / Foundation / Intermediate Exams

Notification No. 13-CA (EXAM)/N/2019 - (14/08/2019) - ICAI declares Schedule of examination to be held in November 2019 for next Chartered Accountants Foundation Course {Under New Scheme}, Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme} and Final {Under Old & New Scheme} Examinations, Examinations in Post Qualification Course...

Read More

Draft Company Secretaries (Amendment) Regulations, 2019

Notification No. 710/1(M)/1 - (06/08/2019) - The following draft of certain regulations, further to amend the Company Secretaries Regulations, 1982 which the Council of the Institute of Company Secretaries of India proposes to make, in exercise of the powers conferred by sub-section (1) of section 39 of the Company Secretaries Act, 1980 (56 of...

Read More

E-Tender for Appointment of Concurrent Auditors by RBI

E-Tender for Appointment of Concurrent Auditors for the year 2019-20 w.e.f. October 01, 2019 to September 30, 2020 by Reserve Bank of India, HRMD, CO cluster and CSBD, CO....

Read More

ICAI notifies guideline for Mandatory issue of UDIN

Notification No.1-CA(7)/192/2019 - (02/08/2019) - A member of the Institute in practice shall generate Unique Document Identification Number (UDIN) for all kinds of the certification, GST and Tax Audit Reports and other Audit, Assurance and Attestation functions undertaken/signed by him which made mandatory from the following dates through announce...

Read More

Browse All Categories

CA, CS, CMA (4,376)
Company Law (5,172)
Custom Duty (7,494)
DGFT (4,053)
Excise Duty (4,279)
Fema / RBI (3,904)
Finance (4,054)
Income Tax (31,265)
SEBI (3,249)
Service Tax (3,483)

Recent Posts in "CA, CS, CMA"

ICAI debars an examiner for evaluating answer books while travelling in Bus/Tram

It has come to the notice of the Institute that an examiner was evaluating standard sample answer books while travelling in a bus/tram. The Institute has instructed all its examiners to not to evaluate and carry answer books while travelling. Accordingly, the conduct of examiner is found to be in violation of the Instruction to […]...

Read More
Posted Under: CA, CS, CMA |

NOC (Communication with previous auditor) – A tool, defense, weapon or?

What should be the correct procedure to adopt when a prospective client tells you that he wants to change his auditor and wants you to take up his work? Is NOC (no objection certificate) required from previous auditor?...

Read More
Posted Under: CA, CS, CMA |

ICAI announces dates for convocation of Members

ICAI Convocation 2020 is to be held as per following schedule in which members newly enrolled during the period May 2019 to October 2019 will be awarded Certificate of Membership amidst august gathering of CA fraternity....

Read More
Posted Under: CA, CS, CMA |

ICAI President’s Message – December 2019

Meeting with Ministry of Finance- Return filing issues- Based on the invitation received from Ministry of Finance for making a presentation on the practical difficulties in filing GST returns...

Read More
Posted Under: CA, CS, CMA |

Direct & Indirect Taxes Updates- November 19

A. DIRECT TAXES UPDATES i) Income Tax circulars/ notifications/ rules/ clarifications/News- November- 2019 ♠ CBDT notifies Form 16D (certificate of deduction of tax at source) and 26QD (challan-cum-statement) in relation to section 194 M (deduction of tax at source for contractual or professional payment by Individual or HUF) (Notificat...

Read More
Posted Under: CA, CS, CMA |

Treatment of Lease Equalisation Reserve created as per Ind AS 17 on transition to Ind AS 116

CA Tasnim Tankiwala Ind AS 116- Leases, is effective from annual period beginning on or after 1 April 2019. Ind AS 116 Supersedes Ind AS 17 – Leases from the date of its applicability. Under Ind AS 17, lease rentals under an operating lease were recognised as an expense/income on a straight line basis over […]...

Read More
Posted Under: CA, CS, CMA |

Sale and Leaseback Accounting under Ind AS 116 ‘Leases’

A sale and leaseback transaction is one where an entity (the seller-lessee) transfers an asset to another entity (the buyer-lessor) for consideration and leases that asset back from the buyer-lessor. Ind AS 116 makes significant changes to sale and leaseback accounting....

Read More
Posted Under: CA, CS, CMA |

Deploy e-Form PAS-6 & Clarify on due date of e-Form PAS-6: ICSI

We request you to arrange to deploy the e-form PAS -6 at the MCA website or issue clarification that for the half year ending September 30, 2019, the period of sixty days for filing of e-form PAS-6 would start from the date of deployment of said e-Form....

Read More
Posted Under: CA, CS, CMA |

ICAI members to pay Membership/ COP Fees by 31.12.2019

It is just a gentle reminder that Membership/Certificate of Practice Fees for the year 2019-20 became due for payment on 1st April, 2019. If not paid till date, kindly pay Annual Membership/COP Fees by 31st December 2019....

Read More
Posted Under: CA, CS, CMA |

Report on Audit Quality Review- 2018-19

Cases of financial irregularities continue unabated, both in India and abroad, bringing to the forefront yet again concerns over the need to improve audit quality. Reports of resignations of auditors to swift actions from various regulatory bodies against auditors continue to grab headlines on a routine basis these days. There are several...

Read More
Posted Under: CA, CS, CMA |

Latest ICAI , ICSI, CMA News

Chartered Accountants or Company Secretaries , Cost Accountants are a group of extraordinary people. Wherever they go, they bring difference. They’re talented, ambitious and are in demand. If you are thinking about a career which offers respect, prestige, great financial rewards, and better prospects becoming a Chartered Accountant, Cost Accountnat  or a Company Secretary is a perfect way to start. For becoming a CA, CMA or a CS you need to qualify the CA exam, CMA exam and the CS exam respectively. The CA, CMA and CS qualifications are exceptional prestigious and internationally respected which would offer you the skills, knowledge, and values to be a sought after business professional. The CA, CMA and CS qualifications comprises of relevant professional study and practical experience. The ICAI (Institute of Chartered Accountants of India) is the empowering body for Chartered Accountants in India, The ICAI (The Institute of Chartered Accountants of India )  for Cost Accountantgs in India and the ICSI (Institute of Companies Secretaries of India) is the regulating body of Company Secretaries in India. At Taxguru, we provide you with all the latest updates and announcement with respect to CA exam, CMA Exam and CS exam. Find all the latest news on ICAI and all the relevant updates related to CPT exam, IPCC and Finals. Get to know what’s new and what trending in the world of CS, CMA with all the latest news on ICSI, CMA here at Taxguru. At Taxguru, we publish blogs and articles at regular intervals for the enlightenment of our readers who are pursuing CA, CMA or CS or have completed the esteemed professional course. We ensure that we bring you all the latest insights and guidance in your journey towards your goal to achieve success in CA, CMA and CS exams. We keep you posted on all important and significant ICAI news and ICSI news and ensure to keep updated with the trending information from the world of these profound professions.