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CA, CS, CMA : GST disputes are increasing, creating substantial opportunities for Chartered Accountants in audits, adjudication, appeals, and ta...
CA, CS, CMA : The article explains how unusually flawless records may signal a managed presentation rather than genuine business performance, re...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for June 2026. It highlights filing requirements under income ta...
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CA, CS, CMA : The Court held that shares acquired in a buy-back are mandatorily extinguished under company law and therefore cannot be treated a...
CA, CS, CMA : ICAIs Board of Studies has announced free Live Virtual Classes for CA Final students appearing in May and November 2027 examinatio...
CA, CS, CMA : Apply for concurrent audit assignments at Punjab & Sind Bank for the year 2025-26. Criteria include FCA partner, RBI panel selecti...
CA, CS, CMA : ICAI has announced Live Virtual Revisionary Classes for CA Intermediate students appearing in the September 2026 examinations. The...
CA, CS, CMA : ICAI's Board of Studies has invited Expressions of Interest from qualified professionals and academicians for empanelment as facul...
CA, CS, CMA : The Institute of Company Secretaries of India (ICSI) has announced the first bi-annual Western Region Convocation for FY 2026–27...
CA, CS, CMA : The Delhi High Court held that one of the meetings relied upon for automatic vacation of the petitioner’s seat was convened with...
CA, CS, CMA : The Court examined whether a complaint arising from a family dispute can be entertained in misconduct proceedings. It held that su...
CA, CS, CMA : The High Court held that reassessment cannot be based on grounds not mentioned in the original Section 148A notice. Since no incom...
CA, CS, CMA : The court examined whether disciplinary findings based on impersonation and unauthorised audits could be reopened. It upheld dismi...
CA, CS, CMA : The High Court held that a direct appellate challenge to the final removal order was not maintainable. The appeal was withdrawn wi...
CA, CS, CMA : The vacancy circular highlights opportunities for professionals to contribute to financial reporting and auditing oversight. Appli...
CA, CS, CMA : ICAI notifies removal of 12 chartered accountants from membership rolls, with suspension periods, fines, and reprimands in select ...
CA, CS, CMA : ICAI Board holds CA not guilty in bribery case, finds no proof of knowledge or intent; mere receipt of packet without mens rea not...
CA, CS, CMA : The issue involved allegations of assisting in bogus accounting entries. The ruling held that without certification or statutory r...
CA, CS, CMA : The issue involved disciplinary action for professional and other misconduct under the Chartered Accountants Act. The authorities ...
All concerned may please note that due to administrative reasons beyond our control, the examination of ‘Elements of Business Laws and Management’ Paper of CS Foundation Programme scheduled to be held on 5th June, 2012 has been postponed. Fresh date for conducting the examinations of the above mentioned paper will be intimated separately. For any clarification/information in this regard, please contact the Student Services Section of the Institute at Tel.No. 0120-4522081/ 86 or at E-Mail id enroll@icsi.edu
I am also pleased to inform the members that the Institute has brought out Guidance Note on Maintenance of Cost Accounting Records. Since the Ministry of Corporate Affairs – Cost Audit Branch has extended to all companies engaged in production, processing manufacturing and mining activities and regulated industries, through a series of notifications, it was necessary for the Institute to explain the extent, scope and methodology of preparation and maintenance of requisite cost accounting records by the companies.
The Company Secretaries (Amendment) Regulations, 2012 (Published in the Gazette of India Extraordinary, Part III, Section 4 Dated June 04, 12 vide Notification No. 710/1(M)/2 dated 04.06.12)
Economists across the globe have extended countless explanations for the recurring trend of economic meltdown, now a part of business cycle. Uneven sharing of profit, i.e. less return of profit money to lower and middle level workers, has also been cited as one of the reasons. Generally it is seen that industries give back less money and, thereby, share very less profit with their workers in terms of their remunerations than the goods manufactured by them, i.e. price at which goods are sold at. Industries share this profit mainly with the top rung of their workers, i.e. management or policy-/strategy-makers, apart from putting it for fundamental investments.
In the Tamil Nadu Value Added Tax Act, 2006, after section 63, the following section shall be inserted, namely:—63-A. Accounts to be audited in certain cases.—(1) Every registered dealer whose total turnover including zero-rate sale and sale in the course of inter-State trade or commerce as specified in section 3 of the Central Sales Tax Act, 1956 (Central Act 74 of 1956) in a year, exceeds one crore rupees, shall get his accounts in respect of that year, audited by an Accountant and submit a report of such audit in the prescribed Form, duly signed and verified by the Accountant, to the Assessing authority, within such period as may be prescribed.
As per CPE learning which is eligible for CPE credit for Unstructured Learning Activities(ULAs), the members are required to submit their Self-declaration in the form enclosed once in a year before 31st May, to avail the CPE Hours Credit for the ULAs undergone by them in the previous year. These forms would have to be submitted to the concerned Decentralized Offices. The members could also submit the same to the Sub-Decentralized Offices for onward submission to the concerned Decentralized Offices.
Section 209(1) (d) of the Companies Act, 1956, incorporated in 1965, is the backbone of statutory cost accounting in the Indian corporate sector. This framework put to practice, through promulgation of Cost Accounting Records Rules by the Government, has inculcated a sense of cost consciousness in large number of industries/companies. The mechanism of maintenance of cost records, to a very large extent, has helped industry to face the fierce competitive forces arising out of post-1991 liberalization and globalization. It also served well the legal and non-legal requirements of various regulatory authorities, government agencies, tariff/price fixation bodies, research organisations, etc.
The members of the Institute are kindly aware that the Election to the 18th Council of the Institute of Cost Accountants of India were held in 2011 in accordance with the Cost and Works Accountants (Election to the Council) Rules, 2006 read with the Cost and Works Accountants Act, 1959 and the Cost and Works Accountants Regulations, 1959.
Once it is held that the office of a chartered accountant or of a firm of chartered accountants does not come within the expression of shop or commercial establishment as defined in the Act of 1961, the corollary would be that the provisions of the Act of 1961 cannot be applied to the office of a chartered accountant or of a firm of chartered accountants.
The Principal Judge, Small Causes Court, Pune, and thereafter the District Judge, Pune, negatived the contention of the Corporation holding that profession of Chartered Accountant is neither a trade nor a business. Advocate for the Respondents drew my attention to the judgment reported in Current Tax Reporter Volume 80 Phillipos & Company, Chartered Accountants & Ors. versus State. This is the Judgment of the Karnataka High Court, wherein it is held that Office of the Chartered Accountant or of a firm of a Chartered Accountant is not an establishment within the meaning of Section 2(i) of the Karnataka Shops and Commercial Establishments Act, 1961, it is neither a shop nor a commercial establishment.
