CA, CS, CMA : Explore the latest developments as the Comptroller and Auditor General of India adopts an end-to-end digital framework, delving in...
CA, CS, CMA : भारतीय सीए संस्थान ने २ नवंबर २०२२ को वर्ष २०२१-२२...
CA, CS, CMA : A CA firm who applied for empanelment with CAG for Financial Year 2012-13 can check the status of his Empanelment & Audit work all...
Goods and Services Tax : CAG is one of the pivotal offices in the Government of India who controls the entire financial system of the country. The appointm...
Goods and Services Tax : In this series, one of the important areas covered is CAG Reports. There is a general tendency to look at CAG Report as an additio...
CA, CS, CMA : Learn about the ICAIs opening of an online window to update branch details for empanelment applications. Deadline: 08 July 2024....
CA, CS, CMA : Provisional empanelment status of CA firms along with provisional point score for year 2024-2025 will be available on CAG website ...
CA, CS, CMA : Discover the catalytic role of audit in enhancing efficiency and effectiveness, as emphasized by the Comptroller and Auditor Gener...
CA, CS, CMA : Apply for Chartered Accountant firms/LLPs empanelment with CAG India for 2024-2025. Learn about the online application process, ke...
CA, CS, CMA : Stay informed about the Office of C&AG's new audit criteria for Chartered Accountant firms/LLP in 2024-2025. Learn about location-...
Income Tax : It seems CAs are under attack from all parts of the world for good or not so good reasons. Recently CAG in its report Criticised C...
Corporate Law : The Delhi High Court has dismissed two writ petitions filed by N.Gopalaswami (Former CEC) & others and Manohar Lal Sharma, Advocat...
Finance : The Delhi High Court has delivered a judgement in the case of Association of Unified Telecom Service Providers of India Versus Uni...
CA, CS, CMA : (1) These Regulations may be called Regulations on Audit and Accounts (Amendments) 2020 (2) They shall come into force on the date...
Corporate Law : This office has taken steps to treat the applications as abandoned in which no reply to examination report containing office objec...
Finance : Whether the Company has been listed on the stock exchanges? If yes, the names of the stock exchanges may please be indicated? If s...
The Comptroller and Auditor General of India (CAG) has come down heavily on the Tax Department for fostering “a perception that it has a tendency to opt for appeals even when it is on a weak wicket” and this “appealititis is more detrimental when applied on small taxpayers constituting a large chunk of appellants.”
CAG says: The contract was awarded to Maxxam who were the highest bidder. The OC says this is because they have vast experience & a professional staff. But that is irregular since the financial bids were opened only after considering the technical bids where all three firms were found at par by the OC. Giving contract to Maxxam caused an avoidable expenditure of Rs. 6.16 crore
The Comptroller and Auditor General of India (CAG) has now been empowered to vet all non-government organisations (NGOs) and other agencies involved in the government’s social sector schemes. The Planning Commission has decided that approvals for all social sector projects undertaken by various NGOs, normally outside the purview of CAG, will come with the rider that they will be subject to audit, if required.
The government is likely to ask all departmental enterprises and agencies, such as the National Highways Authority of India (NHAI), to dispense with the system of tender-based appointment of internal auditors. Instead, the Comptroller and Auditor General of India (CAG) and the Institute of Chartered Accountants of India (ICAI) will jointly finalise a panel of eligible audit firms for different categories of projects and entities, based on the project size, number of locations and turnover.
While the government is lobbying hard with Opposition parties to implement Goods and Services Tax (GST) from April next year, a study carried out to assess the current tax base in states and the compliance level could upset its gameplan. The study revealed rampant evasion to the extent of 50% in half of the 23 states where tax audits were carried out.
PATNA: A woman, as everyone knows, usually gives birth to a baby after nine months of pregnancy, but in Bihar 298 women claim to have delivered two to five children in a span of 60 days – at least that’s what records of incentives amount given to new mothers under a government scheme show.
The Comptroller and Auditor General of India has asked the state government to take speedy and effective action for realising Rs 10,221 crore of unrealised revenue from various departments. The report of the Comptroller and Auditor General of India (revenue receipts) for the year that ended 31 March 2009, which was tabled in the assembly on Thursday,
Asked if the annual exercise of the CAG was futile considering the little action taken on the anomalies pointed out by it, Rai said, “The Constitutional mandate of the CAG is to prepare the report and hand it over to the legislature. If the matter concerns any public undertaking, it is referred to the Committee on Public Undertaking and if it concerns any department, it is referred to the Public Accounts Committee.”
Companies managing to evade taxes on services received from abroad, such as management consultancy and banking, now may not be able to to do so as the government is all set to plug the loopholes in the system which helped flourish the practice till now.
The Central Bureau of Investigation (CBI), which hopes to complete the probe into the 2G Spectrum case within a year, has roped in the Comptroller and Auditor General (CAG) to help ascertain the alleged financial irregularities in distribution of new licenses and spectra in 2008 at prices fixed in 2001.
