The rescheduled Intermediate & IPC Examination shall be held on 9th December, 2020 and the Final (Old & New) Examination shall be held on 11th December, 2020 for the above-stated centres only at the same time....
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It has been reported by some Examination Centres that they are receiving threatening e-mails from some of the candidates appearing for the CA Examination scheduled for November, 2020....
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It has come to our knowledge that State of Gujarat has announced that there will be Curfew in the city of Ahmedabad during 21st and 22nd November, 2020 on the days on which Chartered Accountant Examinations November 2020 are also scheduled at the centres in the city of Ahmedabad....
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It is hereby informed that candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers relating to CA Examinations being held in November 2020 by e-mail at examfeedback@icai.in or by way of a letter, sent by Speed Post, at the following address, so as to reach us latest by 15th D...
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Change of certain Examination Centre / minor correction in the address for November 2020 - 1. L. D. Arts College, Opp. IIM Ahmedabad, Vastrapur 2. Mayo International School, Delhi....
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In continuation of Announcement dated 7th November 2020, it is informed that January/February 2021 examination will commence from 21st January 2021 in all cities where exam are currently scheduled for November 2020 Examination. Further details related to schedule of examination and admit card will be intimated soon after the last date of ...
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ICAI Change of certain Examination Centre / minor correction in the address for CA November 2020. It is hereby informed that due to un- avoidable circumstances, certain examination centre(s), as per details give below has been changed....
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The Institute has come across postings in the Social Media by some students stating that despite being tested Covid positive, they intend to appear for the CA Examinations - November, 2020....
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You are aware that November 2020 ICAI Examinations are scheduled from 21st November 2020 at 1085+ examination centres at global level. While understanding the impact of COVID-19 Pandemic, ICAI has already announced that a separate examination will also be conducted from 21st January 2021 besides May 2021 examination....
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Arrangement of the Discounted Diagnostic and Related Healthcare Tests for the Members of ICAI & their dependents : An initiative by the Committee for Members in Practice (CMP), ICAI...
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Dear Professional Colleagues, Prudent corporate governance practices are always the backbone of development and progress of economic ecosystem of any country. After globalisation and liberalisation were introduced to the largest democracy of the world, international businesses looked at India with a new perspective and exploited untapped ...
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Change of certain Examination Centre / minor correction in the address for November 2020 CA Exams. It is hereby informed that due to unavoidable circumstances, certain examination centre(s), as per details give below has been changed....
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The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Pre-Budget Memorandum - 2021 on Direct Taxes and International Tax to the Government. The memorandum contains suggestions for the consideration of the Government while formulating the tax proposals for the year 2021-22....
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REQUEST TO PASS DIRECTIONS u/s 30 C of the Chartered Accountants Act for adopting tough measures for the safe and smooth conduct of the CA Examinations going to be held from 21st November. Urgent attention is requested as there are only ten days to implement the suggestions to be made by you....
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The forthcoming CA examinations are scheduled to commence from 21st November 2020 to 14th December 2020 and it is once again reiterated and clarified that the examinations will be conducted as per notified schedule....
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The Ministry of Corporate Affairs (MCA) has taken up to build a new MCA21 v3 system – upgraded version of MCA- 21 portal to enable easy and secure access of MCA services. It is expected to be filled with latest features and technology. The core objectives of MCA21 v3 system are promoting automation, integration with external regulatory,...
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DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News CBDT issues notification extending the due dates for Income Tax Returns & Tax Audit Reports, as follows (Notification no. 88/2020 dated 29.10.2020) -Without tax audit- 31.12.2020 -Transfer pricing and tax audit- 31.01.2021 -Income Tax return FY 2018-19 -3...
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You are requested to relax the said general guidelines as a onetime measure to enhance it further to 90 for A Y 2010-21 due to the Covid-19 restrictions of travelling, maintaining social distance etc. This one-time measure will surely helpful to the members to complete their tasks with comfort....
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In case the student appears for some of the papers in a particular group and subsequently he/she opts out for any of the reasons as mentioned in (a) to (c) above, then he/she has to appear for all papers of the Group in the next examination cycle i.e. shifting of some of the paper(s) of the same Group is not allowed;...
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It has been decided to extend the last date for filling the Multipurpose Empanelment Form for the year 2020-21 for further 4 days, i.e., till 10th November 2020, Tuesday to mitigate the difficulties being faced by the firms in uploading of necessary data....
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Amit Jain & Ors. Vs Union of India & Anr. (Supreme Court) -
During the course of hearing, ICAI informed the Hon'ble Court that it had verified the position from the concerned examination centres and was informed by the said examination centres that they are not falling in any containment zones....
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Recognising the need for establishing uniform accounting principles and practices for all types of share-based payments for the companies following Accounting Standards under Companies (Accounting Standards) Rules, 2006, as amended under Section 133 of Companies Act, 2013, it is heartening to note that the Research Committee of the Instit...
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‘Guidance Note on Applicability of AS 25 to Interim Financial Results’ which was issued in the year 2008 and ‘Guidance Note on Measurement of Income Tax Expense for Interim Financial Reporting in the context of AS 25’ which was issued in the year 2006 to issue as ‘Guidance Note on Applicability of AS 25 and Measurement of Income...
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Clarification of Image Circulated on Social Media- ICAI places on record that an Image of Admit Card circulated is misleading & all Admit Cards have ICAI Official Emblem & Sign as Seal of Authenticity. Appropriate Action is being initiated against those spreading Misleading info Source- Tweet by ICAI...
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Exposure Draft of revised AS 21, The Effects of Changes in Foreign Exchange Rates, has been issued by the ASB for comments with the last date being December 3, 2020...
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1. How do I get my admit card? Admit cards in respect of all eligible candidates admitted to the Foundation, Intermediate (IPC), Intermediate, Final and Final-New examination, with their photographs and signatures on them, will be hosted on https://icaiexam.icai.org/ No physical admit cards will be sent to any candidate. Candidates are re...
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Background Material of Diploma in International Taxation (2020 – Fifth edition) containing: -International Tax – Transfer Pricing -International Tax – Practice (Part I & II) Tax laws in India are becoming more and more complex. Globalization of economies, signing and review of free trade agreements, increase in the number of...
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Technical Guide on BEPS Action Plans and Multilateral Instrument (MLI) – 2020 – First edition Considering the issue that profits should be taxed where the economic activities take place and no profit should suffer double taxation, in September 2013, the Finance Ministers of the G20 nations came out with a comprehensive action p...
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Basics of International Taxation – 2020 (fourth edition) – (Earlier known as Aspects of International Taxation – A Study) International Taxation due to its dynamic and ever changing nature has always been a complex subject not only to study but to practice. Due to increase in cross border transactions, mergers and acquisitions, ...
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ICAI has released the 8th Edition (August 2020) of the Guidance Note on Report Under Section 92E of the Income Tax Act, 1961 (Transfer Pricing). This Guidance Note was last revised in November, 2019. The ICAI has revised Guidance note on Report under Section 92E of the Income Tax Act, 1961 (Transfer Pricing) based on […]...
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Students who may have any concern related to above stated admit card for containment zone may submit the same at the below link for the attention of Examination Department. It is also directed that only students may fill up these details and any pseudo-unauthorised use will attract severe action for any impersonation....
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In continuation to the Announcements dated 15th July, 8th,13th and 23rd October 2020 made regarding revised schedule of Chartered Accountant November 2020 Examinations and uploading of Admit Card for November2020 CA Examinations; it is hereby notified for general information that Admit Card for Chartered Accountant November 2020 Examinati...
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Advisory to Students and Public at Large Regarding ICAI November 2020 Examinations Students and Public at large are hereby requested to note: > The ICAI Examinations to be held in November 2020 sill be held as per schedule horn 21st November 2020 announced as per Announcement Dated 13th October 2020 – https://www.icai.org/resourc...
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Further extension in the last date for Waiving-off Condonation fees due to late filing of various application Forms related to Students, Articled Assistants, Members & Firms amidst COVID-19 Pandemic – (31-10-2020) M&C-MSS SECTION The Institute of Chartered Accountants of India 31st October, 2020 Important Announcement Amid t...
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The Institute of Chartered Accountants of India (ICAI) since its very inception has always provided thought leadership to the generations in a proactive and progressive manner. ICAI has been playing a key role nationally, regionally and globally not only towards the growth of the profession, but also has been contributing to the business,...
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Globally, many jurisdictions have been taking steps for replacing existing Interbank offered rates (IBORs) with some alternate benchmark rates as a result of recommendations of Financial Stability Board. In this regard, IASB identified two groups of accounting issues that could affect financial reporting due to the reform:...
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Increase in the no. of Structured CPE hours being granted in online mode from 15 CPE hours to 20 CPE hours and extension of last date for completion of 20 Structured CPE hours through Digital Learning Hub or Virtual CPE Meetings from 31st October, 2020 to 31st December, 2020...
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Approach To Tax Audit Under Section 44AB Of The Income Tax Act, 1961 (Checklist) This document is a joint effort of the Direct Taxes Committee and the Taxation Audit Quality Review Board of ICAI. This checklist is designed to assist the members in enhancing the quality of tax audit under section 44AB of the Income […]...
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A fake announcement of 27.10.2020 is doing rounds on social media, making false assertion of postponement of ICAI Examination schedule. It is clarified that the examination schedule, as already announced, shall commence....
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1. Uploading of Admit Card: Admit Card for Chartered Accountant November 2020 Examinations will be uploaded on November, 2020.
2. Options to opt out from November 2020 attempt for all: Opt out window will open on 7. November, 2020...
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Notification No. S.O. 3717(E) -
(21/10/2020) -
The Multipurpose Empanelment Form for the year 2020-21 is live at https://meficai.org w.e.f. 23rd September 2020. The original date of submission was 12th October 2020 which was extended till 23rd October 2020....
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ICAI- BoS Practical Training Assessment Notes for Information and Guidance for Applicants -Online Application Form Starts at : 12:00 noon on Saturday, 03rd October 2020. -Last Date : Friday, 9th October, 2020 midnight. If a candidate had registered for the practical training assessment scheduled on March 22, 2020, he/ she will not have to...
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No. 13-CA (EXAM)/Advanced ICITSS/November 2020 -
(21/10/2020) -
It has been decided to conduct Advanced ICITSS - Adv. IT Test – in Computer Based Mode on Tuesday, the 10th November, 2020 from 10.30 AM to 12.30 PM (IST)....
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In continuation to the Announcement dated 20th August 2020 the window for empanelment of members to act as observers at the examination centres for the Chartered Accountants examinations, November, 2020 is reopened from 20th October to 25th October, 2020....
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Prime Minister, Shri Narendra Modi has approved Memorandum of Understanding between the Institute of Chartered Accounts of India (ICAI) and the Certified Practising Accountants, Papua New Guinea (CPA PNG)to work together in capacity building and strengthening the Accounting, Financial and Audit Knowledge base in Papua New Guinea....
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Prime Minister, Shri Narendra Modi has approved the Mutual Recognition Agreement between the Institute of Chartered Accounts of India (ICAI) and the Malaysian Institute of Certified Public Accountants (MICPA) to enable appropriately qualified CA (Chartered Accountant) members of either Institute to join the other Institute by receiving ap...
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No.1-CA(7)/193/2020 -
(19/10/2020) -
Public Relations Committee The Institute of Chartered Accountants of India 19th October, 2020 PRESS RELEASE ICAI Allows Provisional Registration in CA Foundation Course after passing Class X Examination With an aim to provide high quality education and keeping the future global business competencies in mind, the Institute of Chartered Acc...
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Notification No. 1-CA(7)/193/2020 -
(19/10/2020) -
1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....
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Further extensions regarding the validity of Peer Review Certificate in the wake of COVID -19 spurt across the country (16-10-2020)- Modifications in Part C of the Announcement hosted on 29.5.2020 Peer Review Board The Institute of Chartered Accountants of India 16th October, 2020 ANNOUNCEMENT Sub: Further extensions regarding the validit...
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All the stakeholders and general public are hereby informed that the Office of the Disciplinary Directorate of the ICAI is shifted from 3rd floor, ICAI Bhawan, I.P.Marg, New Delhi-110002 to the new premises at following address :...
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It is pertinent to note that following contents and features on the Websites of members and Firms are prohibited :- (1) Mention of Names of clients / Client Logo (2) Writing of Firm name in a manner tantamounting to Logo/Monogram
(3) Mention of Professional Fees, or fact of providing services free of charge...
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In view of prevailing circumstances; it has now been decided that the Chartered Accountant Examinations earlier scheduled from 1st November 2020 to 18th November 2020: now to be held from 21st November 2020 to 14th December, 2020 as per details given below....
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Students after passing Class 10th examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government or the State Government as equivalent thereto, may provisionally register in Foundation Course of ICAI....
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Artificial Intelligence, Blockchain, Cloud Computing, Cyber Security, Data Analytics, Internet of Everything, Robotic Process Automation are the new buzz words in today’s times and are the new ABCDEs of this era. With investments and valuations in these emerging technologies (broadly referred to as Industry 4.0), skyrocketing, companies...
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Submission Date for Online MEF Form for the year 2020-21 Approaching- Members may note that the last date for submission of online MEF form and declaration for the year 2020-21 is 12th October, 2020. Through MEF form, ICAI collects and distribute members’ data to exploit potential opportunities and facilitate new avenues of professional...
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The Board of Studies of ICAI is commencing Mock Test Papers from October 10, 2020 for students appearing in CA Foundation, IIPC & Intermediate; Final Old & New November, 2020 examination....
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Guidelines for Examination Centres, Examination functionaries and Candidates for November 2020 CA Examinations in wake of ongoing pandemic Novel Corona Virus (Covid-19)....
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SOPs for students appearing in November 2020 examination: A detailed instruction sheet containing the Do’s and Don’ts for all students appearing in the November 2020 examination is being issued separately....
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There is no requirement for submitting the Financial Statements i.e. Balance Sheets and Income & Expenditure Account for the applicants who have opted for the Presumptive Taxation Scheme under Section 44ADA of Income Tax Act, 1961 and have filed their ITR accordingly for the financial year 2018-19....
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DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT issues directions for disposal of appeals under Faceless Appeal scheme 2020 (Notification no. 77/2020 dated 25.09.2020) ♦ CBDT notifies the Faceless Appeals Scheme, 2020 (Notification no. 76/2020 dated 25.09.2020) ♦ CBDT notifies for 15C for Ap...
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The next practical training assessment is being conducted online from October 23 to October 27, 2020. The students who have completed their 1st/ 2nd year of practical training during April 1, 2019 – June 30, 2020 are eligible to appear in this test....
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The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain p...
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The Companies (Amendment) Act, 2020 (herein after referred to as ‘the Amendment Act’) got the assent of Hon’ble President as on 28th September, 2020 and is thus operative since that date. It was passed by the Lok Sabha on 19th September, 2020 and by the Rajya Sabha on 22nd September, 2020....
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Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India...
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It has been decided to conduct Advanced ICITSS - Adv. IT Test – in Computer Based Mode on Thursday, the 22nd October, 2020 from 10.30 AM to 12.30 PM (IST)....
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The Council of ICAI considering the request from Members at large has decided to extend the last date for payment of Membership/ COP fee from 30th September, 2020 to 30th November, 2020....
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ICAI has reported an increase of 37% in demand for newly qualified CAs for employment in industry through its campus placement programme concluded recently....
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Examination Department The Institute of Chartered Accountants of India 27th September, 2020 IMPORTANT ANNOUNCEMENT The Election Commission of India through its press conference held on 25th September 2020 has announced Schedule of General Election to the Legislative Assembly of the State of Bihar whereby election to the State of Bihar is ...
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Extension for completion of Orientation /IT Training Course by the Intermediate students, through the foundation route, to on or before 31st December, 2020 instead of on or before 31st October, 2020 and then be allowed to sit for their Final examination to be held in November, 2022....
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ED SAE 3410 is being issued in the context of ―Guidance Note on Reports or Certificates for Special Purposes‖, issued by the ICAI, which provides guidance on engagements which require a professional accountant in public practice to issue reports other than those which are issued in audits or reviews of historical financial information...
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Students at all levels may please note that the Institute on account of cancellation and merging of May 2020 examination with November, 2020 examination due to Covid-19 pandemic as a one-time measure has granted upto one year extension in the validity period of registration at all levels....
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Notification No. 1-CA(7)/196/2020 -
(23/09/2020) -
An articled assistant who has passed the Intermediate (Professional Competence) Examination or Professional Education (Examination-II) or Intermediate examination and has completed a minimum of eighteen months of practical training under these regulations shall be eligible for industrial training....
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Reckoning the date of revocation of the lockdown to be 30th September 2020 w.r.t extensions granted regarding the validity of Peer Review Certificate in the wake of COVID -19 spurt across the country...
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Digital Accounting Assurance Board of The Institute of Chartered Accountants of India (ICAI) invites comments on the following exposure drafts of Forensic Accounting and Investigation Standards (FAIS):...
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In continuation to the Announcement dated 20th August 2020, it is informed that the window for empanelment of members to act as observers at the examination centres for the Chartered Accountants examinations, November, 2020 is reopened from 16th September to 20th September 2020....
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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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Request for permitting availment of input tax credit under GST pertaining to Financial Year 2019-20 and correction in GSTR- 1 till March, 2021. Institute of Charted Accountant of India ICAI/IDTC/2020-21/Rep/16 10th September, 2020 Shri S.K Rahman Joint Secretary, Goods and Services Tax Council, 56′ Floor, Tower II, Jeevan Bharti Bui...
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It is suggested to devise a mechanism for receiving part payment of taxes till the industry recover and stabilises from the effect of Covid-19, which could be a win-win situation for both the Government, as they will receive early payment of taxes and at the same time taxpayers will not be required to pay interest on the part payment made...
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Considering that filing of Annual Return for registered persons having turnover upto 2 crore for the financial years 2017-18 and 2018-19 is optional. We request that software be accordingly modified allowing the taxpayers to file their Annual Return for financial year 2018-19, if they so wish, even if they have not filed their Annual Retu...
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Extension of Annual returns in Form GSTR 9 and GSTR 9A along with GST Audit Certificate in GSTR 9C from September 30, 2020 to December 31, 2020...
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Relief Measures Introduced in Insolvency Resolution Process in Country Due to Outbreak of Covid-19 Pandemic Message The outbreak of COVID-19 pandemic and the subsequent restrictions due to lockdowns have severely affected the wellbeing of economies across the world. It has completely jeopardized everyone’s life and the normal operation ...
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Registrar of Companies of various regions have extended the time for holding of Annual General Meeting (AGM) for the financial year ended on 2019-20 by three months from the due date. During the challenging time for everyone, companies are no exception. Preparation of the financials and submission for audit is challenging. Derailment in t...
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ICAI decided that the students of May 2021 Final course, exam, can undergo MCS and Advanced IT Course through Virtual Mode can undergo the aforestated Courses through virtual mode to be conducted by the respective regional and branch offices of ICAI....
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Whether the period of absence arising out of lockdown due to COVID -19 pandemic w.e.f 24th March, 2020 till 3rd May, 2020 shall be counted as leave or being on articleship for the students who are already registered and undergoing Practical Training as on 24th March, 2020....
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Examination Department The Institute of Chartered Accountants of India 8th September, 2020 IMPORTANT ANNOUNCEMENT Re-Opening Of Online Filling Up Of Examination Application Forms For Chartered Accountants Examinations, November 2020. Considering the prevailing COVID-19 situation and in the interest to mitigate the anxiety and hardships of...
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DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT notified the procedure for notification of Pension funds (PF) for claiming exemption under section 10(23FE) for income from Investment in Specified Infrastructure business (Notification no. 67/2020 dated 17.08.2020) ♦ CBDT notifies 34 authorities...
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I am happy to intimate that ICAI has almost doubled the number of examination centres in India, besides opening new overseas examination centres, taking ICAI presence to Africa besides middle east. This facility will make it convenient and safe for students to take the November 2020 examinations....
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ICAI has come out with a model for sustainability of MSME. MSME Business Continuity Checklist focused on a number of factors that require special attention by the management of MSME which can guide their initiative to face this tough time....
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The Digital Accounting Assurance Board of The Institute of Chartered Accountants of India (ICAI) invites comments on the following exposure drafts of Forensic Accounting and Investigation Standards (FAIS):...
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With an increasing number of Accounting, Financial and Loan irregularities, there is a pressing need of Forensic Accounting and Investigation professionals in India to conduct their professional assignments in a manner which is based on the comprehensive, qualitative and prudent set of Standards, and also to collect evidences which may be...
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Relaxation for provisionally registered students in the Intermediate Course till 31st July, 2020 through Direct Entry Route for appearing in May, 2021 Intermediate Examination on account of outbreak of COVID 19....
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Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) applicable for Standard-setting Activity from accounting periods beginning from April 1, 2020, and for the preparers of financial Statements from a future date...
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Updated Part B and C of IFRS Standards relevant for accounting year 2020-21 have also been hosted on the website. It is hereby mentioned that use of this guidance material is strictly subject to the copyright agreement with IFRS Foundation....
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This Compendium of Ind AS is an endeavour of ICAI to facilitate ease of reference and ready source of comprehensive literature for all those entities that are preparing financial statements under Ind AS, either mandatorily or voluntarily....
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Whether the student who had applied for May 2020 Exams be required to fill Examination Form For November 2020 afresh. Yes, the students of all courses who had applied for May 2020 Examinations will be required to fill form for November 2020 afresh on opening of window for the same. The students are allowed to change the group(s) as well a...
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V. Venkata Siva Kumar Vs Institute of Cost Accountants of India (Madras High Court) -
The issue under consideration is whether the petition filed by the CA for seeking to direct the Institute of Cost Accountants of India to use the acronym ‘ICOAI’ instead of ‘ICAI’ will be sustain by the High Court?...
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As we all know that COVID 19 is an unprecedented crisis and challenge which is currently being faced by the whole World. Amidst the spread of the pandemic and the imposition of lockdowns, there are various challenges before all the stakeholders in the corporate world. Regulators in many countries are revising the filing deadlines, changin...
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Dear Professional Colleagues, The mammoth world with all its beautiful bounties, geographical riches, scientific innovations, exotic cultures and vast army of extraordinary human capital is one large family interconnected with the common goal for global health, peace, prosperity and progress. The present global challenges emanating from p...
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This white paper explains the concepts, legal requirements, strategies, and global framework for the implementation of risk management. It also deals with fraud and reputation risk management and how the negative reputation of an entity may harm the operations and profitability. This white paper may be useful in performing the advisory ro...
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