chartered accountants

Key takeaways in transfer of Goodwill or share of profit in case of death of a CA

CA, CS, CMA - Key takeaways in transfer of Goodwill or share of profit in case of death of a Chartered Accountant In the wave of corona, the whole of CA fraternity is shocked by sudden demise of members of the institute in this CORONA Pandemic. The fraternity has lost many members during this year. Local fraternity tried to […]...

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How to have Peace of Mind while Studying for CS/CA/CMA Exams?

CA, CS, CMA - We hear how top athletes deal with pressure. You are mentally tough and at peace. This protects them and helps them cope or even thrive in adverse situations. It’s a mental difficulty. To give the best under high expectations or to face adversity. The question is, are some people born spiritually stronger than others? You […]...

Read More

Say This To Yourself Everyday

CA, CS, CMA - You are a Rank holder. You should follow one course until you successful. Don’t think of Job or practice just focus on clearing the CA Exam. Wake up early in the morning at 4 am and study with full focus. I need to clear this exam anyhow no matter what. Don’t ever waste your time […]...

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10 Advisory Points by a CA which are generally not followed by SMEs and Public at Large

CA, CS, CMA - 10 Advisory Points by a CA which are generally not followed by SMEs and Public at Large 1) GST ♦ Amendment of GST Registration – Updating all Place of Business, HSN and SAC Code of new products / services, Bank Accounts, Change in Management and Authorised Signatories ♦ Voluntary use of 8 digit HSN Codes […]...

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Recent Developments & Amendments in Goods and Services Tax

CA, CS, CMA - Self Certification basis instead of Annual Return / Reconciliation: Through amendment in Section 44 of the CGST Act, the requirement for certification of reconciliation statement (GSTR-9C) by a Chartered accountant/ Cost accountant has been removed. It is provided that the annual return, which shall include reconciliation statement, will ...

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Alleged Disgraceful Actions by Police Department against a CA

CA, CS, CMA - We regret to inform that now even the Police has started booking members belonging to the respectable fraternity of Chartered Accountants for bonafide actions done by these professionals in their routine course of work on behalf of their clients....

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ICAI to provide Financial Assistance to Members suffering from CORONA

CA, CS, CMA - The Managing Committee of the Chartered Accountants Benevolent Fund (CABF) ICAI has considered the difficulties being faced by Members in the time of pandemic and has decided to grant Medical Financial Assistance to the Members and their dependents suffering from CORONA....

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Allow CA & other professionals to operate during lockdown

CA, CS, CMA - Allowing CA and other professionals to carry on their activities during the lockdown period and Include CA and other professionals under Essential Services and Exempted categories during Lockdown period....

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ICAI Campus Placement Programme for Newly Qualified CAs

CA, CS, CMA - Registration for Jan-Feb, 2021 CA final examination pass out candidates begins on 8th April’21 and will end on 13th April’21 and no extension of date will be possible....

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Allow CAs to operate their offices with at least 50% capacity: BCSG

CA, CS, CMA - Bhayander CA Social Group (BCSG) has requested Municipal Commissioner of Mira Bhayandar Mahanagarpalika to advise the State Government to allow CAs to operate their offices with at least 50% capacity for facilitating timely compliances under diverse laws. Text of their representation is as follows:- BHAYANDER CA SOCIAL GROUP April 6, 2021...

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Withholding of CA Student Result for Criticism of ICAI; HC Grants relief

Risha Lodha D/O Bhagwat Singh Lodha Vs Institute Of Chartered Accountants of India (Rajasthan High Court) - Risha Lodha D/O Bhagwat Singh Lodha Vs Institute Of Chartered Accountants Of India (Rajasthan High Court) (1)  The petitioner, a young girl-student of 21 years of age, has knocked at the doors of this Court being aggrieved by extreme oppressive action of a professional body-The Institute of Charter...

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Disputes between CA Firms partners not governed by CA Act but by Partnership Act: Kerala HC

Disputes between the partners of a chartered accountants firm are not governed by the Chartered Accountants Act but by the Indian Partnership Act - High Court of Kerala...

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HC directs ICAI to recognise & record retirement of CA from Partnership Firm

Joshi John Vs Institute of Chartered Accountants of India (Kerala High Court) - Joshi John Vs Institute of Chartered Accountants of India (Kerala High Court) It is not disputed that ‘M/s. R. Menon and Associates’ is a partnership at will. Section 43 of the Indian Partnership Act, 1932 provides that when a partnership is ‘at will’, the firm may be dissolv...

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SC transfers petitions challenging validity of Tax Audit Limit of 60

The Institute of Chartered Accountants of India & Ors. Vs. Shaji Poulose & Ors. (Supreme Court) - The Institute of Chartered Accountants of India & Ors. Vs. Shaji Poulose & Ors. (Supreme Court) In the writ petitions, which are sought to be transferred, writ petitioners have challenged validity of Chapter VI of Guidelines No.1‑CA(7)/02/2008 dated 08.08.2008 issued by the Council of peti...

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Bail to CA who formed firms which later allegedly claimed fake ITC

Anup Ashopa Vs Union of India (Rajasthan High Court) - Anup Ashopa Vs Union of India (Rajasthan High Court) High Court allowed bail application of the petitioner who is a Chartered Accountant. The allegation against the petitioner who is a Chartered Accountant is of making fake firms who later on claimed input tax credit. Bail is subject to the conditio...

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RBI replies on signing of non-audited financials by CAs

DOR0021/04.03.001/2020-21 - (03/04/2021) - In reply to RTI by Nitin Pandurang Hargude on requirement of signing of project report, un-audited financials and certificate for utilisation of loan funds  vide Order No. DOR0021/04.03.001/2020-21 dated April 03 2021 RBI has replied as follows:- Query 1 Signing on Project Report for Loan Purposes ...

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Visakhapatnam GST Intelligence arrests CA for major GST fraud

F.No.DGGI/INV/GST/2045/2020 - (05/12/2020) - Directorate General of GST Intelligence (DGGI) Visakhapatnam Zonal unit has busted a major fake input tax credit (ITC) racket being operated by a 28 year-old Chartered Accountant based at Guntur....

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CBDT to validate ICAI UDIN during upload of Tax Audit Reports

Release ID: 1676103 - (26/11/2020) - The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website www.icai.org mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators. This was...

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ICAI – Clear Assessment if applying for membership after 3 years

Notification No.1-CA(7)/195/2020 - (14/09/2020) - ICAI proposes following Draft Regulations which provides that A Chartered Accountants has to appear and pass the Assessment if applying for membership after 3 years of clearing CA Finals or Members who have not renewed their membership for 3 years....

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NFRA bans another auditor in IL&FS case for 5 Years & levied penalty

NFRA Order No. NF-20012/1/2020 - (23/07/2020) - NFRA makes the following order in terms of Sec 132(4)(c) of the Companies Act, 2013. (i) A monetary penalty of Rs Five Lakhs is levied upon CA Rukshad Daruvala. (ii) In addition, CA Rukshad Daruvala is debarred for a period of five years from being appointed as an auditor or internal auditor or unde...

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Recent Posts in "chartered accountants"

Withholding of CA Student Result for Criticism of ICAI; HC Grants relief

Risha Lodha D/O Bhagwat Singh Lodha Vs Institute Of Chartered Accountants of India (Rajasthan High Court)

Risha Lodha D/O Bhagwat Singh Lodha Vs Institute Of Chartered Accountants Of India (Rajasthan High Court) (1)  The petitioner, a young girl-student of 21 years of age, has knocked at the doors of this Court being aggrieved by extreme oppressive action of a professional body-The Institute of Chartered Accountants of India (for short, ‘I...

Read More

Alleged Disgraceful Actions by Police Department against a CA

We regret to inform that now even the Police has started booking members belonging to the respectable fraternity of Chartered Accountants for bonafide actions done by these professionals in their routine course of work on behalf of their clients....

Read More
Posted Under: Finance |

Key takeaways in transfer of Goodwill or share of profit in case of death of a CA

Key takeaways in transfer of Goodwill or share of profit in case of death of a Chartered Accountant In the wave of corona, the whole of CA fraternity is shocked by sudden demise of members of the institute in this CORONA Pandemic. The fraternity has lost many members during this year. Local fraternity tried to […]...

Read More
Posted Under: Finance |

How to have Peace of Mind while Studying for CS/CA/CMA Exams?

We hear how top athletes deal with pressure. You are mentally tough and at peace. This protects them and helps them cope or even thrive in adverse situations. It’s a mental difficulty. To give the best under high expectations or to face adversity. The question is, are some people born spiritually stronger than others? You […]...

Read More
Posted Under: Finance |

Disputes between CA Firms partners not governed by CA Act but by Partnership Act: Kerala HC

Disputes between the partners of a chartered accountants firm are not governed by the Chartered Accountants Act but by the Indian Partnership Act - High Court of Kerala...

Read More

Say This To Yourself Everyday

You are a Rank holder. You should follow one course until you successful. Don’t think of Job or practice just focus on clearing the CA Exam. Wake up early in the morning at 4 am and study with full focus. I need to clear this exam anyhow no matter what. Don’t ever waste your time […]...

Read More
Posted Under: Finance |

10 Advisory Points by a CA which are generally not followed by SMEs and Public at Large

10 Advisory Points by a CA which are generally not followed by SMEs and Public at Large 1) GST ♦ Amendment of GST Registration – Updating all Place of Business, HSN and SAC Code of new products / services, Bank Accounts, Change in Management and Authorised Signatories ♦ Voluntary use of 8 digit HSN Codes […]...

Read More
Posted Under: Finance |

HC directs ICAI to recognise & record retirement of CA from Partnership Firm

Joshi John Vs Institute of Chartered Accountants of India (Kerala High Court)

Joshi John Vs Institute of Chartered Accountants of India (Kerala High Court) It is not disputed that ‘M/s. R. Menon and Associates’ is a partnership at will. Section 43 of the Indian Partnership Act, 1932 provides that when a partnership is ‘at will’, the firm may be dissolved by any partner giving notice in writi...

Read More

Recent Developments & Amendments in Goods and Services Tax

Self Certification basis instead of Annual Return / Reconciliation: Through amendment in Section 44 of the CGST Act, the requirement for certification of reconciliation statement (GSTR-9C) by a Chartered accountant/ Cost accountant has been removed. It is provided that the annual return, which shall include reconciliation statement, will ...

Read More
Posted Under: Finance |

Need of Voluntary Certification of GSTR-9C by CA/CMA

Need of Voluntary Certification of GSTR-9C (by Chartered Accountant / Cost Accountant) The Finance Bill 2021 has substituted the Section 44 of CGST Act, 2017, where annual return (GSTR-9) is required to be submitted along with self-certified reconciliation statement (GSTR-9C), earlier GSTR-9C was required to be certified by the Chartered ...

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Posted Under: Finance | ,

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