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CA, CS, CMA - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT extends limitation dates for passing of assessment or reassessment orders under the IT Act, that are getting time barred on 31st March, 2021 due to extension of limitation date by the notification dt. 31st December, 2020 has been extended to 30th Apr...
Read MoreCA, CS, CMA - THE FIVE ‘I’ APPROACH FOR RISK ADVISORY & INTERNAL AUDIT 1. Innovation – Change is the only constant. 2. Interaction – For good ideas and true innovation, you need human interaction, disagreement, argument and debate. 3. Impact -The only limit to your impact is your creativity and commitment. 4. Information ...
Read MoreCA, CS, CMA - Exposure Draft Standard for Audit of Smaller and Less Complex Entities (SA-SLCE) Your comments on this Exposure Draft should reach us by March 31, 2021 Comments are most helpful if they indicate the specific paragraph(s) to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wordin...
Read MoreCA, CS, CMA - Dear Professional Colleague, Sub: ITR 7 Guidance Note issued by CPC Bengaluru The Centralized Processing Center, Bengaluru has conducted an exclusive Webinar on ITR-7 for A.Y 2020-21 on 17.12.2020 from 04.00 PM to 05.30 PM for the benefit of Chartered Accountants, Tax Practitioners & Taxpayers. The following topics were covered du...
Read MoreCA, CS, CMA - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT issues notification and notifies Faceless assessment scheme 2021 and direction to give effect to the Faceless Penalty scheme,2021 (Notification No. 03/2021 dated 12/01/2021) ♦ Amount of remuneration u/s 9a(3)(m) of the Income Tax Act (Circular No...
Read MoreCA, CS, CMA - Board of Studies The Institute of Chartered Accountants of India 5th March, 2021 ANNOUNCEMENT Sub: Relaxation in the requirement to undergo 8 months Study Period to appear in November, 2021 Intermediate Examination in respect of students who had opted-out from November 2020 Examinations and opted for January 2021 examination after passing...
Read MoreCA, CS, CMA - It has been decided to conduct Advanced ICITSS - Adv. IT Test – in Computer Based Mode (CBT) on Tuesday, the 12th January, 2021 from 10.30 AM to 12.30 PM (IST)....
Read MoreCA, CS, CMA - Special Examination for Members of Foreign Accounting Bodies with whom the ICAI had entered into Mutual Recognition Agreement (MRA) / Memorandum of Understanding (MoU)...
Read MoreCA, CS, CMA - ICAI declares time table for next Chartered Accountants Foundation Examination to be held in June 2021 under New Scheme. Exam will be held on 24th, 26th, 28th & 30th JUNE 2021. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) Examination Department The Institute of Chartered Accountants of India 5th...
Read MoreCA, CS, CMA - ICAI President message for March 2021 on Public Advocacy: Assisting Government in Matters of Governance, Developing Profession for the Digital Era, Expanding Big, Going Global etc...
Read MoreThe 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...
Read MoreV. Venkata Sivakumar 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?...
Read MoreAmit 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....
Read MoreV. 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?...
Read MoreAnubha Shrivastava Sahai Vs The Institute Of Chartered Accountants of India (ICAI) & Ors. (Supreme Court) - Anubha Shrivastava Sahai Vs ICAI & Ors. (Supreme Court) As per sources During the hearing SC said to ICAI that those students who have not opted out can appear for ICAI exam, but those who cannot appear although not opted out should be considered as an opt out student and be adjusted in November...
Read MoreNo. PR/62/17-DD/87/17-DC/918/18, No. PR/172/13-DD/178/13/DC/513/2017, No. PR/310/14-DD/329/14-DC/599/17, No. PR/154/14/DD/181/14/DC/433/15, No. PR/G-67/18/DD/70/18/DC/963/18, No. PR/43/15/DD/76/15/DC/511/16, No. PR/237/15-DD/261/15/DC/767/2018 - (15/02/2021) - On 15th February ICAI notified that it has removed name of 7 members from the Register of Members for the period of 15 days to Two Years depending upon the nature of Professional Misconduct. Full text of such notifications are given below- THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA Notification...
Read MoreNotification No. IBBI/DC/56/2020 - (14/12/2020) - In the present matter, Mr. Guddeti was appointed as IRP by National Company Law Tribunal, Delhi Bench, Court – IV (AA) vide order dated 4th February 2020 initiating CIRP of CD on application under section 7 of the Code by M/s Amritvani Exim Private Limited claiming to be financial creditor and...
Read MoreF. No. 1-CA(7)/197/2020 - (10/12/2020) - ICAI vide its Draft Chartered Accountants (Amendment) Regulations, 2020 proposed changes to FORM ‘18’ related to PARTICULARS OF OFFICES AND FIRMS (See Section 2(2) of the Chartered Accountants Act, 1949, Regulation 53B and Regulation 190 of the Chartered Accountants Regulations, 1988). THE INSTI...
Read MoreRelease 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...
Read MoreNo.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...
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Notification No. 13-CA (EXAM)/Advanced ICITSS/December, 2020 - (22/12/2020) -
