ICAI

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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SAT Order – PWC Satyam Case

CA, CS, CMA - It is ripe time for ICAI to take initiative and show leadership in conveying and educating the investors, regulators and other stakeholders about the need to constructively assess the performance/review conducted by the auditor and then come to conclusion whether the auditors have failed to take reasonable procedures to identify the fraud...

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Comments on Exposure Draft of Standards on Internal Audit-SIA 350 and 390

CA, CS, CMA - A review of all the audit workpapers shall be carried out, to ensure these are sufficient and appropriate to allow the reviewer to arrive at the same conclusions, and formulate similar observations, as done by the audit staff. The documentation shall record the evidence of the supervision and review conducted, including the performance of...

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FAQ on certified copies of answer sheets under RTI

CA, CS, CMA - To establish and follow the law laid down by Supreme Court in the judgement ICSI Vs. Paras Jain, ICAI appointed CPIOs exclusively for providing certified copies under RTI dated 29th Aug 2019....

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Get CA/CMA Exam Answer Sheet copies for free & at nominal cost

CA, CS, CMA - Now CA students get Answer Sheet copies at Free of Cost and CMA students at nominal cost under RTI : Supreme Court Orders! RTI Act is the most revolutionary act for setting out the practical regime of Right to Information, the 3 Key building pillars behind the act are Responsibility, Transparency and Accountability, which empowered [&hell...

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Correction Window for CA Exams, Nov 2019 Extended to 18-09-2019

CA, CS, CMA - Candidates who had applied for Chartered Accountant Examinations i.e. Foundation Course {Under New Scheme}, Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme} and Final {Under Old & New Scheme} scheduled from 1st to 18th November, 2019 may kindly note that they can change their Examination City / Group / Medium through...

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ICAI: Applicability of legislative amendments in Indirect Taxes for Practical Training Assessments

CA, CS, CMA - Applicability of the legislative amendments and notifications and circulars in Indirect Taxes for Practical Training Assessments The cut off date for the applicability of the legislative amendments as well as the amendments made vide notifications and circulars in indirect tax laws for the purpose of practical training assessment is as un...

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Procedure to Obtain Information under RTI Act 2005 from ICAI

CA, CS, CMA - PROCEDURE FOR OBTAINING INFORMATION UNDER THE RIGHT TO INFORMATION ACT, 2005 FROM THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA. Any citizen of India can obtain the required information by making a request under his / her signature addressed to the Central Public Information Officer / Central Assistant Public Information Officer of The ...

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Advisory on Auditor’s Reporting on Section 197(16) of Companies Act, 2013

CA, CS, CMA - Section 197(16) of the Companies Act, 2013 requires as under: 'The auditor of the company shall, in his report under section 143, make a statement as to whether the remuneration paid by the company to its directors is in accordance with the provisions of this section, whether remuneration paid to any director is in excess of the limit lai...

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Solution to Difficulties in filing of online CA Exam Forms

CA, CS, CMA - Clarification on difficulties faced by candidates in on-line submission of application forms for appearing in CA exams to be held in November 2019 It has been brought to our notice that some candidates are experiencing difficulty in submission of exam forms on-line for appearing in CA exams to be held in November 2019. In this […]...

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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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CA can be held guilty of professional Misconduct for his act although unrelated to profession but which brings disrepute to the profession or ICAI

Council of the ICAI Vs Shri Gurvinder Singh & Anr. (Supreme Court of India) - Council of the ICAI Vs Shri Gurvinder Singh & Anr. (Supreme Court of India) The Supreme Court observed that the chartered accountants can be proceeded against for their acts which bring disrepute to the profession whether or not related to his professional work. The bench comprising Justice Rohi...

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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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ICAI Changes name of 17 Regional Council Branches as per change in City Name

No.1-CA.(7)/191/2019 - (04/05/2019) - ICAI at its meeting held on 25.03.2019 has approved to change the names of  17 Branches of Regional Councils of ICAI set up by the Council  as per the change in the name of Cities where these Branches are functioning. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA NOTIFICATION New Delhi, the 4th ...

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Tribunal constituted to decide ICAI December 2018 election disputes

S.O. 1591(E) - (12/04/2019) - Central Government hereby establishes a Tribunal consisting of the following persons to decide disputes arising under section 10A of the said Act in the matter of election to the Council of the Institute of Chartered Accountants of India held in December, 2018, namely:-...

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Recent Posts in "ICAI"

Correction Window for CA Exams, Nov 2019 Extended to 18-09-2019

Candidates who had applied for Chartered Accountant Examinations i.e. Foundation Course {Under New Scheme}, Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme} and Final {Under Old & New Scheme} scheduled from 1st to 18th November, 2019 may kindly note that they can change their Examination City / Group / Medium through...

Read More

FAQs on Treatment of Dividend Distribution Tax

What is the presentation requirement as per Ind AS in India for dividend and dividend distribution tax thereon?...

Read More

SAT Order – PWC Satyam Case

It is ripe time for ICAI to take initiative and show leadership in conveying and educating the investors, regulators and other stakeholders about the need to constructively assess the performance/review conducted by the auditor and then come to conclusion whether the auditors have failed to take reasonable procedures to identify the fraud...

Read More

Comments on Exposure Draft of Standards on Internal Audit-SIA 350 and 390

A review of all the audit workpapers shall be carried out, to ensure these are sufficient and appropriate to allow the reviewer to arrive at the same conclusions, and formulate similar observations, as done by the audit staff. The documentation shall record the evidence of the supervision and review conducted, including the performance of...

Read More

ICAI: Applicability of legislative amendments in Indirect Taxes for Practical Training Assessments

Applicability of the legislative amendments and notifications and circulars in Indirect Taxes for Practical Training Assessments The cut off date for the applicability of the legislative amendments as well as the amendments made vide notifications and circulars in indirect tax laws for the purpose of practical training assessment is as un...

Read More

FAQ on certified copies of answer sheets under RTI

To establish and follow the law laid down by Supreme Court in the judgement ICSI Vs. Paras Jain, ICAI appointed CPIOs exclusively for providing certified copies under RTI dated 29th Aug 2019....

Read More

Procedure to Obtain Information under RTI Act 2005 from ICAI

PROCEDURE FOR OBTAINING INFORMATION UNDER THE RIGHT TO INFORMATION ACT, 2005 FROM THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA. Any citizen of India can obtain the required information by making a request under his / her signature addressed to the Central Public Information Officer / Central Assistant Public Information Officer of The ...

Read More

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 was held that litigants, such as assessee,...

Read More

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 no necessity for […]...

Read More

Get CA/CMA Exam Answer Sheet copies for free & at nominal cost

Now CA students get Answer Sheet copies at Free of Cost and CMA students at nominal cost under RTI : Supreme Court Orders! RTI Act is the most revolutionary act for setting out the practical regime of Right to Information, the 3 Key building pillars behind the act are Responsibility, Transparency and Accountability, which empowered [&hell...

Read More

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