CA, CS, CMA : Automation is reducing repetitive accounting work such as GST filings, reconciliations, and data entry, but professional judgment ...
Goods and Services Tax : ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory time...
CA, CS, CMA : The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified wh...
CA, CS, CMA : The evolution from manual training to tech-driven learning highlights changing expectations. The key takeaway is balancing traditi...
CA, CS, CMA : Banks are asking CAs to issue end-use and KYC certificates without regulatory support. RBI confirms no such requirement exists, hi...
CA, CS, CMA : Chandigarh Chartered Accountants Taxation Association has requested CBDT to immediately release pending ITR e-filing utilities for...
CA, CS, CMA : The Sales Tax Bar Association requested reconsideration of Bar Council of India rules prohibiting advocates from entering partners...
CA, CS, CMA : ICAI has warned members and students against fraudulent calls, emails, and WhatsApp messages seeking confidential information and ...
CA, CS, CMA : The issue involves publication of the draft panel for statutory auditor appointments. ICAI has released the list based on existing...
Goods and Services Tax : Persistent technical issues prevented users from accessing the portal and completing filings. The representation seeks urgent fixe...
Goods and Services Tax : The Telangana High Court granted anticipatory bail to a Chartered Accountant accused in a share transfer fraud case, observing tha...
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...
Corporate Law : The case examined whether the accused could disprove liability under Section 138. The court upheld conviction as the presumption r...
CA, CS, CMA : The Court examined whether a complaint arising from a family dispute can be entertained in misconduct proceedings. It held that su...
Goods and Services Tax : The High Court granted a post-decisional hearing after finding that a proper Chartered Accountant’s certificate with UDIN was no...
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 ...
CA, CS, CMA : The issue concerns disciplinary action for professional misconduct. The ruling enforces removal from membership and bars practice ...
CA, CS, CMA : ICAI has established a new branch in Korba under Regulation 159 to expand its regional presence. The move enhances administrative ...
Janakalyan Sahakari Bank Ltd. invites applications from Chartered Accountant/Cost Accountant firms for appointment of Concurrent Auditors to conduct audits of its branches from 1st July 2023 to 30th June 2024.
Learn how to apply for empanelment as a Concurrent Auditor with J&K Bank for year 2023-24. Find eligibility criteria, guidelines for filling online application, and terms of engagement for Concurrent Auditors.
Directorate of Enforcement (ED) has taken a significant step in the Shakti Bhog Foods money laundering case by provisionally attaching 59 immovable and movable properties worth Rs. 28.67 Crore. The attachment has been made under the Prevention of Money Laundering Act (PMLA) and involves individuals such as Sunil Dhupar, former CA and statutory auditor of […]
Bank of Baroda has announced the appointment of Chartered Accountancy firms for concurrent audit assignments. This article provides an overview of the units and branches for which the appointments are being made, along with important details such as the duration of the audit and submission deadlines. 1. The appointment of 1 Chartered Accountancy Firm each […]
Institute of Chartered Accountants of India (ICAI) has issued notifications regarding the removal of CA Basudeb Mukhopadhyay and CA Subodh Kumar Maheshwari from the Register of Members. These disciplinary actions have been taken based on findings of professional misconduct and other misconduct, as determined by the Disciplinary Committee of the ICAI. CA Basudeb Mukhopadhyay, whose […]
Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section 148A(b) of the Income Tax Act is not valid if the escaped income is below Rs. 50 lakhs.
Institute of Cost Accountants of India (ICAI) issues a circular discontinuing the usage of the acronym ‘ICAI‘ as directed by the Hon’ble High Court of Delhi. The circular mandates the removal of all references to ‘ICAI‘ and the adoption of the acronym ‘ICMAI‘ across physical and virtual platforms. This decision comes after the Institute of […]
Explore the need for a Balance Confirmation Portal in auditing, a collaborative effort by ICAI and IBA to enhance audit integrity. Learn how it addresses challenges, reduces risks, and streamlines the external confirmation process, citing historical frauds like the SATYAM Scandal. The proposed portal aims to provide standardized, transparent, and cost-free access to information from public sector banks initially, with plans for future expansion. Stay informed about this innovative solution shaping the future of auditing.
Karnataka State Chartered Accountants Association (R.) addresses the significant issue of delay in income tax refunds. Read their comprehensive representation highlighting the challenges faced by taxpayers and suggestions for improvement.
National Financial Reporting Authority (NFRA) issues an order imposing a penalty on CA Gautam Guha of Rupees One Lakh (Rs. 1,00,000) for failure to report the non-compliance of M/s Nicco Uco Alliance Credit Limited with Accounting Standards (AS). The NFRA initiates an investigation into the role of statutory auditors based on irregularities observed in the […]
