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Company Law - 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...
Read MoreCompany Law - 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...
Read MoreCompany Law - DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT extends due date for Income Tax Returns for FY 2018-19 from 31st July 2020 to 30th September 2020 (Notification no. 56/2020 dated 29th July 2020). ♦ CMDT amends rule 31a and form 26Q from 3rd July 2020 w.r.t. providing certain information related t...
Read MoreCompany Law - ♣ Section 134(5) of the Companies Act, 2013 requires board of directors of every company to state in its Directors’ Responsibility Statement that they have prepared the annual accounts on a going concern ♣ Also, Ind AS 1 - Presentation of Financial Statements and AS 1 - Disclosure of Accounting Policies requires the management to...
Read MoreCompany Law - One Person Company (OPC) is a choice of Business entity for entrepreneurs who want to have full control over the business. OPC is a type of Private Company as per Section 2(68) and Section 3(1) (c). Rule 3 of the Companies (Incorporation) Rules 2014 say, only a natural person who is an Indian citizen and […]...
Read MoreCompany Law - 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...
Read MoreCompany Law - Students, who have provisionally registered for the Foundation Course, may please note that in case of non-receipt of Original Mark Sheet from CBSE/State Board/ Affiliated Board are required to do as under:...
Read MoreCompany Law - That the Appellant has no locus standi to maintain the Writ Petition. The ICAI is a body corporate established by statute with right to sue or be sued in its name and the Petitioner (Appellant) cannot maintain the Petition....
Read MoreCompany Law - Institute of Chartered Accountants of India (ICAI) inaugurated its 2 new Chapters and 12 Representative Offices (nodal point) in a virtual event held on July 30, 2020 evening....
Read MoreCompany Law - With the constant support and inputs of all Council Colleagues, many initiatives have been undertaken and with this instant communication, we are pleased to share with you some of the technology-oriented initiatives undertaken by your ICAI for the benefit and betterment of all...
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 MoreManubhai And Shah LLP Chartered Accountants Vs Secretary, ICAI (Gujarat High Court) - ICAI had no power to conduct any disciplinary proceedings without written allegations and in the absence of any information as prescribed under Rules 7 of the Rules 2007 the prima facie opinion derived by the authority lacked jurisdiction and had no foundation....
Read MoreTrideep Raj Bhandari Vs ICAI (Delhi High Court) - ICAI was under an obligation to provide reasons to the complainant for its prima facie conclusion of the Chartered Accountant being member not guilty of any misconduct on the complaint made by a Complainant. ...
Read MoreDevendraa P. Kapur Vs ICAI & Others (Appellate Authority of ICAI) - On perusal of the record, it reveals that the Institute was negligent in the noncompliance of the directions of this Appellate Authority. The DC was required to seek extension of time from this Authority had there been any difficulty on any count to dispose of the matter within six months....
Read MoreAshok A Jain Vs Director (Discipline), ICAI (Appellate Authority of ICAI) - Ashok A Jain Vs Director (Discipline) (Appellate Authority of ICAI) Now coming to the question if this Board Resolution satisfies the requirement of Rule 3 (4) of the Rules. It has been contended on behalf of the Appellant that this Resolution is a general Resolution in favour of Simon Tippet and no...
Read MoreNotification No. G.S.R. 311(E) & G.S.R. 312(E) - (26/05/2020) - These rules may be called the Chartered Accountants Procedure of Meetings of Quality Review Board, and Terms and Conditions of Service and allowances of the Chairperson and members of the Board (Amendment) Rules, 2020....
Read MoreNotification No. F. No.1-CA(7)/193/2020 - (04/05/2020) - is registered with the Board of Studies of the Institute on or before 1st day of January or 1st day of July for the examination to be held in the months of May/June or November/December respectively; and has complied with such other requirements as may be decided by the Council from time to time.; a...
Read MoreF.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...
Read MoreF. 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....
Read MoreNotification 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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