ICAI

Need for Standards on Valuation in India

Income Tax - Corporate valuations is the main step towards corporate finance activity (which includes capital raising, M&A) and towards meeting regulatory/accounting requirements or for management purposes. ...

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Summary of Dubai (UAE) VAT (GST) Law to be implemented w.e.f 01.01.2018

Income Tax - State: United Arab Emirates, Value Added Tax: A tax imposed on the import and supply of Goods and services at each stage of production and distribution, including the Deemed Supply., GCC States: all countries that are full members of The Cooperation Council for the Arab States of the Gulf pursuant to its Charter....

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50 Suggestions on Post GST implementation issues

Income Tax - POST GST IMPLEMENTATION AND TRANSTION RELATED ISSUES 1. Difficulty in obtaining PAN by local bodies - Section 25(5) of CGST Act, 2017 provides that every person shall have a Permanent Account Number issued under the Income-tax Act, 1961 to be eligible for grant of registration....

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Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 11

Income Tax - `Ind AS Transition Facilitation Group’ (ITFG) of Ind AS Implementation Committee has been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015, raised by preparers, users and other stakeho...

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CA IPCC May 2017 Official Results Announcements

Income Tax - Institute of Chartered Accountants of India (ICAI) conducts Integrated Professional Competence Course (IPCC) exam twice a year in the months of May and November. Which will be now called CA Intermediate exam according to new amendments applied from 1 July 2017....

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Help in building a tax-compliant nation, Support Operation Clean Money

Income Tax - In the light of demonetisation, Income Tax Department (ITD) initiated Operation Clean Money (OCM) or Swachh Dhan Abhiyan on 31st January 2017 with the objective, to create a tax compliant society through a fair, transparent and non-intrusive tax administration....

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Educational Material on Ind AS 18, Revenue (Revised 2017)

Income Tax - Indian Accounting Standard (Ind AS) 18, Revenue , prescribes the recognition and measurement principles for revenue arising from certain types of transactions and events. Since revenue is an element which can influence the decisions of the users of the financial statements, the principles prescribed in the Standard need to be applied very...

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Various aspects related to IFRS- converged Ind AS

Income Tax - This publication contains an overview of various aspects related to IFRS- converged Indian Accounting Standards (Ind AS) such as road map for the applicability of Ind AS, carve-outs from IFRS/ IAS, changes in financial reporting under Ind AS compared to financial reporting under accounting standards, summary of all the Ind AS etc. It also...

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ICAI: Shifting from one Elective Paper to another under Revised Scheme of Education and Training

Income Tax - Students of Final (New) Course may please note that under the Revised Scheme of Education and Training, the students will be required to opt one of the following Electives papers and the examination of these Electives will be Open Book and Case Study based....

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Consultation paper on Accounting for Revenue and Non-Exchange Expenses for comments

Income Tax - This is to inform you that the International Public Sector Accounting Standard Board (IPSASB) has recently issued a Consultation paper on 'Accounting for Revenue and Non-Exchange Expenses' for comments which is enclosed herewith for your valuable comments and suggestions. ...

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Prosecution under PMLA cannot be dropped for Acquittal by ICAI Disciplinary Committee

Mahesh Agarwalla Vs Assistant Director, (Calcutta High Court) - The findings of the Disciplinary Committee by no stretch of imagination can be said to be binding on the criminal court where the accusation is to be proved on the basis of evidence adduced before it in accordance with law. Moreover, the findings do not render the substratum of accusation of conspir...

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CA guilty of misconduct for allowing use of his name in Prospectus despite Resignation

TChartered Accountants Act, 1949 & 2 Ors Vs. CA. Satish Kumar Gupta (Allahabad High Court) - Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the pub...

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SC quashes appeal against CA for issue of alleged wrong certificate based on manipulated figures

ICAI Vs M.S. Rathi Civil Appeal (Supreme Court of India) - The present appeal arises out of the order dated 12.08.2004 passed by the Division Bench of the High Court of Judicature at Bombay in Chartered Accountants Reference No. 5/2000....

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HC refuses to direct ICAI to expedite Professional Misconduct hearing

Wholesale Trading Services P Ltd. Vs ICAI and Anr (Delhi High Court) - The division bench of the Delhi High Court dismissed a petition filed against ICAI seeking expedite hearing on a complaint relating to Professional Misconduct. The petitioners, Wholesale Trading Services P Ltd, approached the High Court seeking a direction to the Institute of Chartered Accountants o...

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CA guilty of Professional Misconduct for giving forged challan copies

Council of the Institute of Chartered Accountants of India Vs Shri D.K.Agrawal (Allahabad High Court) - This Reference, under Section 21 (5) of Chartered Accountants Act, 1949 (hereinafter referred to as “Act, 1949”), has been received in this Court, sent by Council of Institute of Chartered Accountants of India (hereinafter referred to as “ICAI”) in the matter of D.K.Agrawal, FCA of M/s Dines...

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Date, Schedule,Center & Fees for December 2017 ICAI CPT Exams

No.13-CA (EXAM)/CPT/Dec./2017 - (07/08/2017) - Institute of Chartered Accountants of India is pleased to announce that Common Proficiency Test will be held on Sunday, 17th December, 2017 in two sessions as below, at the following centres provided that sufficient number of candidates offer themselves to appear from each centre....

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List of Students Passed CA CPT June 2017 Exams

NO.13-CA-EXAM/RESULT/CPT/JUNE 2017 - (18/07/2017) - Name Of The Candidates Who Have Been Declared Successful In The Common Proficiency Test (Examination) Held In June 2017 As Per Syllabus Specified By The Council Under Regulation 25d(3) Of The Chartered Accountants Regulations,1988 Are Hereby Published For General Information...

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List of Students Passed CA Final May 2017 Exams

NO.13 -CA EXAM/RESULT/FINAL/MAY, 2017 - (18/07/2017) - Names Of The Candidates Who Have Been Declared Successful In The Final Examination Held In May, 2017 As Per Syllabus Specified By The Council Under Regulation 31(Ii) Of The Chartered Accountants Regulations, 1988 Either In Both Groups Or In Group-1 Or In Group-2 As Indicated Against Their Names, Are...

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CA Final & IPC November-2017 Examinations dates & centres

Notification No. 13-CA (Exam)/N/2017 - (23/06/2017) - ICAI is pleased to announce that Intermediate (IPC) and Final examinations for November 2017 will be held on the dates given below at the following places provided that sufficient number of candidates offer themselves to appear from each centre....

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ICAI notifies Revised Scheme of Education and Training

Notification No.1-CA(7)/178/2016 - (25/05/2017) - ICAI notified Chartered Accountants (Amendments) Regulations, 2017 regarding New Scheme of Education and Training by amending Chartered Accountants Regulations, 1988....

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Recent Posts in "ICAI"

Help in building a tax-compliant nation, Support Operation Clean Money

In the light of demonetisation, Income Tax Department (ITD) initiated Operation Clean Money (OCM) or Swachh Dhan Abhiyan on 31st January 2017 with the objective, to create a tax compliant society through a fair, transparent and non-intrusive tax administration....

Read More

Educational Material on Ind AS 18, Revenue (Revised 2017)

Indian Accounting Standard (Ind AS) 18, Revenue , prescribes the recognition and measurement principles for revenue arising from certain types of transactions and events. Since revenue is an element which can influence the decisions of the users of the financial statements, the principles prescribed in the Standard need to be applied very...

Read More

Various aspects related to IFRS- converged Ind AS

This publication contains an overview of various aspects related to IFRS- converged Indian Accounting Standards (Ind AS) such as road map for the applicability of Ind AS, carve-outs from IFRS/ IAS, changes in financial reporting under Ind AS compared to financial reporting under accounting standards, summary of all the Ind AS etc. It also...

Read More

ICAI: Shifting from one Elective Paper to another under Revised Scheme of Education and Training

Students of Final (New) Course may please note that under the Revised Scheme of Education and Training, the students will be required to opt one of the following Electives papers and the examination of these Electives will be Open Book and Case Study based....

Read More

Need for Standards on Valuation in India

Corporate valuations is the main step towards corporate finance activity (which includes capital raising, M&A) and towards meeting regulatory/accounting requirements or for management purposes. ...

Read More

Consultation paper on Accounting for Revenue and Non-Exchange Expenses for comments

This is to inform you that the International Public Sector Accounting Standard Board (IPSASB) has recently issued a Consultation paper on 'Accounting for Revenue and Non-Exchange Expenses' for comments which is enclosed herewith for your valuable comments and suggestions. ...

Read More

Summary of Dubai (UAE) VAT (GST) Law to be implemented w.e.f 01.01.2018

State: United Arab Emirates, Value Added Tax: A tax imposed on the import and supply of Goods and services at each stage of production and distribution, including the Deemed Supply., GCC States: all countries that are full members of The Cooperation Council for the Arab States of the Gulf pursuant to its Charter....

Read More

Download ICAI FAQ’s and MCQ’s on GST

Indirect Taxes Committee of ICAI has come out with revised publication titled FAQ’s and MCQ’s on GST. This novel initiative of the Committee provides a comprehensive coverage of GST in easy to understand question answer format and written in lucid language which would facilitate the reader to easily comprehend the emerging law....

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Prosecution under PMLA cannot be dropped for Acquittal by ICAI Disciplinary Committee

Mahesh Agarwalla Vs Assistant Director, (Calcutta High Court)

The findings of the Disciplinary Committee by no stretch of imagination can be said to be binding on the criminal court where the accusation is to be proved on the basis of evidence adduced before it in accordance with law. Moreover, the findings do not render the substratum of accusation of conspiracy between the petitioner and the other...

Read More

CA guilty of misconduct for allowing use of his name in Prospectus despite Resignation

TChartered Accountants Act, 1949 & 2 Ors Vs. CA. Satish Kumar Gupta (Allahabad High Court)

Chartered Accountant Satish Kumar Gupta had resigned as Director of BLF before opening of the public issue of BLF irrespective of the fact that his resignation was allegedly accepted on 9.9.1997, in respect whereof no material was brought on record. Having resigned before the commencement of the public issue, his name could not have appea...

Read More
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