ICAI

Last Minute Suggestions to CA Final/Inter Aspirants Appearing In Nov 2019

CA, CS, CMA - CA Final Exams will commence from 01st Nov 2019 and all of you whether appearing for Group 1 or Group 2 or Both Groups must be going through mixed emotions. Some must be excited; some must be scared but most of you must be nervous. Yes, it’s CA Final, Yes, it’s one of the toughest […]...

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ICAI UDIN Generation Process

CA, CS, CMA - It has been noticed by the Institute of Chartered Accountants of India that Financial Documents / Reports / Certificates are being signed by Non-CAs misrepresenting themselves as CA Members thereby misleading the Regulators, Authorities and Stakeholders. To curb this menace and malpractices, ICAI has conceptualised and implemented an in...

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FAQs on Assessment during Practical Training of CA Students

CA, CS, CMA - Director, Board of Studies FAQs for Assessment during Practical Training General 1. What is the purpose behind conducting practical training assessment? The practical training tests will help students to self-assess themselves and know as to what they have learnt during their training. 5. What is the duration of the 1st level test? 2 hour...

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Structural Changes in Examination System of ICAI

CA, CS, CMA - Friends, why I have decided to write on this topic because I believe that this is the need of the hour. Yes, structural changes are required in the Examination system of ICAI to save the reputation of this profession as I believe that if students in a country are not happy, then we cannot have […]...

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FAQs on Treatment of Dividend Distribution Tax

CA, CS, CMA - What is the presentation requirement as per Ind AS in India for dividend and dividend distribution tax thereon?...

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Cross border Transactions and Investments (2019)

CA, CS, CMA - India is now one of the front runners among the developing countries for attracting FDI. Its strong and stable growth and commitment to institutional reforms has made it one of the most attractive destinations for FDI. Cross border flow of capital, human resource and technology has increased manifold over the period of time, which in [&he...

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Technical Guide on Expatriates Taxation (Revised 2019 edition)

CA, CS, CMA - Continuous and rapid global integration has impacted the economies of different countries differently and in a positive manner. Consequently, knowledge, experience and skills of human capital have also been seamlessly shared, which in turn has placed expatriate employees in the most vital position. The income of an inbound expatriate or a...

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Background Material on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

CA, CS, CMA - Goods & Services Tax (GST) introduced in India on 1st July, 2017, subsumes seventeen tax legislations including various central legislations. The Hon’ble Union Finance Minister announced a dispute resolution cum amnesty scheme called “the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019” in the Union Budget 2019-20 for res...

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New Schedule of Postponed CA Exams

CA, CS, CMA - Foundation, Paper 1, Final Examination {Old as well as New Scheme}, Paper 5, IRM, Paper 1, INTT – AT, Paper 1, Intermediate / Intermediate (IPC), Paper - 5 which were postponed from the extant notified dates of 9th November 2019 and 11th November 2019, the said examinations in the said paper(s) shall now be held on 19th November 2019 (f...

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CA Exam Postponement – Important Announcement

CA, CS, CMA - As the Schools and Colleges in some parts of the Country are going to be closed on Monday, the 11th November 2019, the ICAI Examination of Intermediate/ Intermediate (IPC), Paper-5, Advanced Accounting scheduled for Monday I.e. 11th November 2019 at all examination centres across India and Overseas stand postponed to a future date....

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ICAI fined Rs. 50000 by Appellate Authority for not complying its directions

Anil Kumar Aggrawal Vs ICAI (Before the Appellate Authority) - Authority is of the view that further period of four months be given to the Institute to complete its entire proceedings on priority. The Institute is, however, burdened with penalty of Rs.50,000/- in each appeal payable to the Appellate Authority within 2 weeks from the date of receipt of this orde...

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Authority of ICAI only can evaluate Professional misconduct of member and not the Appellant-company

Wholesale Trading Service Pvt. Ltd. Vs ICAI (Delhi High Court) - Wholesale Trading Service Pvt. Ltd. Vs ICAI (Delhi High Court) Conclusion: Since Appellant-company was carrying on the activity of filing and pursuing complaints against various Chartered Accountants as an organised activity, independent of the objects for which it was incorporated, therefore, it wa...

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No Professional misconduct if auditor not obtains NOC from auditor prior to existing auditor

SSAY & Associates Vs ICAI (Delhi High Court) - Ssay & Associates Vs ICAI (Delhi High Court) Conclusion: Since the accounts filed with the Registrar of Companies for the years 2006-07 to 2008-09, that is, for the three years prior to the period for which KNA was appointed, had been audited by M/s Manu Sharma and Co. and therefore, there was n...

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Misconduct if a CA indulge in other business without permission

Yogendra N. Thakkar Vs Board of Discipline (Appellate Authority) - Appellant in this case was actually involved in the business of the company and he formed this company along with his family members in order to venture into a new business apart from the profession of chartered accountancy. The Appellant did indulge in the business without the permission of the Cou...

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Misconduct Proceedings against CA for Sexual Harrassment is valid : HC

Lalit Agrawal Vs ICAI & ANR (Delhi High Court) - Lalit Agrawal Vs ICAI & ANR (Delhi High Court) Hon;ble Court is unable to accept the contention that the Board of Discipline does not have the jurisdiction to examine the alleged misconduct which includes Sexual Harrassment on the part of the petitioner. Clause (2) of Part-IV of the First Schedu...

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TAR/ ITR Due date extended for J&K & Ladakh to 30th Nov 2019

F.No. 225/306/2019-ITA-II - (31/10/2019) - Extension of due date for filing of Income-tax Returns (ITR)/Tax Audit Reports (TAR) to 30th November, 2019 in respect of Union Territory of Jammu and Kashmir and Union Territory of Ladakh F.No. 225/306/2019-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct...

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CBDT extends due date for filing of Tax Audit Reports & Relevant ITRs

F. No. 225/157/2019/ITA.II - (27/09/2019) - On consideration of representations recd from across the country, CBDT has decided to extend the due date for filing of ITRs & Tax Audit Reports from 30th Sep, 2019 to 31st of Oct, 2019 in respect of persons whose accounts are required to be audited....

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Time Table of CA Final / IPC / Foundation / Intermediate Exams

Notification No. 13-CA (EXAM)/N/2019 - (14/08/2019) - ICAI declares Schedule of examination to be held in November 2019 for next Chartered Accountants Foundation Course {Under New Scheme}, Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme} and Final {Under Old & New Scheme} Examinations, Examinations in Post Qualification Course...

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ICAI notifies guideline for Mandatory issue of UDIN

Notification No.1-CA(7)/192/2019 - (02/08/2019) - A member of the Institute in practice shall generate Unique Document Identification Number (UDIN) for all kinds of the certification, GST and Tax Audit Reports and other Audit, Assurance and Attestation functions undertaken/signed by him which made mandatory from the following dates through announce...

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Change in Constitution of Appellate Authority under CA, CS, CMA Laws

G.S.R. 413(E) - (10/12/2016) - Central Govt makes further amendments in notification of Govt of India by which it notified Constitution of Appellate Authority under CA, CS & CMA Laws...

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Recent Posts in "ICAI"

ICAI fined Rs. 50000 by Appellate Authority for not complying its directions

Anil Kumar Aggrawal Vs ICAI (Before the Appellate Authority)

Authority is of the view that further period of four months be given to the Institute to complete its entire proceedings on priority. The Institute is, however, burdened with penalty of Rs.50,000/- in each appeal payable to the Appellate Authority within 2 weeks from the date of receipt of this order....

Read More

Cross border Transactions and Investments (2019)

India is now one of the front runners among the developing countries for attracting FDI. Its strong and stable growth and commitment to institutional reforms has made it one of the most attractive destinations for FDI. Cross border flow of capital, human resource and technology has increased manifold over the period of time, which in [&he...

Read More
Posted Under: CA, CS, CMA |

Technical Guide on Expatriates Taxation (Revised 2019 edition)

Continuous and rapid global integration has impacted the economies of different countries differently and in a positive manner. Consequently, knowledge, experience and skills of human capital have also been seamlessly shared, which in turn has placed expatriate employees in the most vital position. The income of an inbound expatriate or a...

Read More
Posted Under: CA, CS, CMA |

Background Material on Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019

Goods & Services Tax (GST) introduced in India on 1st July, 2017, subsumes seventeen tax legislations including various central legislations. The Hon’ble Union Finance Minister announced a dispute resolution cum amnesty scheme called “the Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019” in the Union Budget 2019-20 for res...

Read More

New Schedule of Postponed CA Exams

Foundation, Paper 1, Final Examination {Old as well as New Scheme}, Paper 5, IRM, Paper 1, INTT – AT, Paper 1, Intermediate / Intermediate (IPC), Paper - 5 which were postponed from the extant notified dates of 9th November 2019 and 11th November 2019, the said examinations in the said paper(s) shall now be held on 19th November 2019 (f...

Read More
Posted Under: CA, CS, CMA |

CA Exam Postponement – Important Announcement

As the Schools and Colleges in some parts of the Country are going to be closed on Monday, the 11th November 2019, the ICAI Examination of Intermediate/ Intermediate (IPC), Paper-5, Advanced Accounting scheduled for Monday I.e. 11th November 2019 at all examination centres across India and Overseas stand postponed to a future date....

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Posted Under: CA, CS, CMA |

CA Nov 2019 Foundation Exam Postponed by ICAI

In view of the reports gathered through electronic media about closure of school and colleges at various parts of the country, ALL EXAMINATIONS of the ICAI namely Foundation Paper 1, Final Paper 5, IRM Paper1, INTT AT and DISA ET Paper scheduled for Saturday, November 9th 2019 on all India basis and abroad stand postponed to a later date ...

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Posted Under: CA, CS, CMA |

Quick Referencer on Indian Accounting Standards

The need for converging to international financial reporting practices in India is now being realised with the adoption of Indian Accounting Standards by Indian companies that are converged International Financial Reporting Standards. With incorporating the aspects of international financial reporting framework and accounting practices, t...

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Posted Under: CA, CS, CMA |

ICAI clarifies on Effective Date of Validity of Peer Review Certificate

The Peer Review Certificate will henceforth be effective from the date of submission of final clean report irrespective of date of Peer Review Board meeting in which it is approved....

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Posted Under: CA, CS, CMA |

Guidance Note on Division III – Schedule III to Companies Act, 2013

Guidance Note on Division III to Schedule III to the Companies Act 2013 provides guidance on each of the items of the Balance Sheet & Statement of Profit and Loss. Few illustrations have also been included on application of the principles provided in the Guidance Note....

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Posted Under: CA, CS, CMA |

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