CA, CS, CMA - 1.’MDP CAs in Practice’ is an abbreviation of the term ‘Multi-disciplinary Partnership Firm of Chartered Accountants in Practice’. The provisions of the Chartered Accountants Act, 1949 and the Chartered Accountants Regulations 1988 amended way back and permit the members of the Institute of Chartered Accountant...
Read MoreCA, CS, CMA - Multi-disciplinary Partnership Firm of Chartered Accountants in Practice means the firm which has been approved to practice in its name by the Council of ICAI under Regulation 53B read with Regulation 190 of the Chartered Accountants Regulations, 1988 hereafter referred to as MDP. The Institute of Chartered Accountants of India has issued...
Read MoreCA, CS, CMA - Pursuant to amendment in section 16 of the Act, the Central Government has incorporated Rule 33A in the Companies (Incorporation) Rules, 2014 for prescribing provisions for allotment of a new name to the existing company under section 16(3) of the Act....
Read MoreCA, CS, CMA - Chartered Accountants generally team up with Lawyers, Company Secretaries, Cost Accountants, Actuaries, Values, Software Professionals, Venture Capitalists, and Retired Entrepreneurs and execute their professional assignments by utilizing their services as employees or on a contractual basis. With the notification dated July 08, 2021, the...
Read MoreCA, CS, CMA - To overcome the impact of challenges being faced by the corporates, Indian Government along with MCA and SEBI has taken several measures like deferment of CARO's applicability, extension of filing annual audited financial statements; relief for MSMEs & NBFCs, fiscal stimulus of upto Rs. 2 lakh crores to needy people through Aadhar based t...
Read MoreCA, CS, CMA - Institute of Chartered Accountants of India My Dear Professional Colleagues, For too long mankind, indiscriminately extricating natural resources has treated nature as a limitless source for its needs. In the process, what nature took millions of years to create is being used up and destroyed in a flip in the geological lifetime of the ea...
Read MoreCA, CS, CMA - The Exposure Draft of Amendments to Ind AS 1 requires companies to disclose their ‘material accounting policy information’ rather than their ‘significant accounting policies’. To assist an entity in determining whether accounting policy information is material to its financial statements amendments are proposed to Ind AS 1....
Read MoreCA, CS, CMA - ICAI endorses & supports Cabinet Decisions to approve the 30 amendments to LLP Act 2008 through the LLP (Amendment) Bill 2021 which will provide more traction & pace to ease of doing business policy. Cabinet approves the LLP (Amendment) Bill, 2021 for carrying out 30 amendments to the LLP Act, 2008. Cabinet approves de-criminaliza...
Read MoreCA, CS, CMA - The next practical training assessment is being conducted online from March 13-15, 2021. The students who have completed their 1st/ 2nd year of practical training during July 1, 2019 – December 31, 2020 are eligible to appear in this test....
Read MoreCA, CS, CMA - As the members are aware, the revised 12th edition of Code of Ethics has come into effect from 1st July, 2020. It is accessible on www.icai.org. It may further be recalled that the Council at its 393rd Meeting held on 30th June and 1st July, 2020 decided that due to the prevailing situation due to Covid-19, the effective date of the follo...
Read MoreCA V. Venkata Sivakumar Vs The Seretary, Institute Of Cost Accountants Of India & Ors. (Supreme Court of India) - CA V. Venkata Sivakumar Vs. The Secretary, Institute Of Cost Accountants Of India Use of acronym ICAI by Institute of Cost Accountants of India, Hon’ble Supreme Court disposed off the case filed by CA V. Venkata Sivakumar against Institute of Cost accountants in the first hearing itself. Writ ...
Read MoreAnubha Shrivastava Sahai Vs Union of India and Ors. (Supreme Court) - Anubha Shrivastava Sahai Vs Union of India and Ors. (Supreme Court) Initially, multiple issues were agitated before us, but eventually, we have confined our consideration only to one aspect of making the comprehensive scheme for optout. The Institute in response to the deliberations in Court yesterd...
Read MoreThe Institute of Chartered Accountants of India Vs The Institute of Cost Accountants of India (Delhi High Court) - Institute of Chartered Accountants of India Vs The Institute of Cost Accountants of India (Delhi High Court) Institute of Chartered Accountants of India has filed a writ with the Delhi high court against use of acronym ICAI by Institute of Cost Accountants of India. The Result will be of Interest to...
Read MoreRisha Lodha D/O Bhagwat Singh Lodha Vs Institute Of Chartered Accountants of India (Rajasthan High Court) - Risha Lodha D/O Bhagwat Singh Lodha Vs Institute Of Chartered Accountants Of India (Rajasthan High Court) (1) The petitioner, a young girl-student of 21 years of age, has knocked at the doors of this Court being aggrieved by extreme oppressive action of a professional body-The Institute of Charter...
Read MoreDisputes between the partners of a chartered accountants firm are not governed by the Chartered Accountants Act but by the Indian Partnership Act - High Court of Kerala...
Read MoreNotification No. 1-CA(7)/(199)/2021 - (29/07/2021) - Name of ‘Jammu Branch of NIRC of ICAI’ has been changed and the same shall now be known as ‘Jammu and Kashmir Branch of NIRC of ICAI’. The jurisdiction of Jammu and Kashmir Branch shall now cover all members and students within the jurisdiction of Union Territory of Jammu and...
Read MoreNotification No. 1-CA(7)/197/2021 - (08/07/2021) - ICAI vide Notification No. 1-CA(7)/197/2021 dated 8th July, 2021 notifies revised format of FORM 18 which is a form to Intimate PARTICULARS OF OFFICES AND FIRMS and Changes in the same. Revised form 18 is applicable from 8th July 2021. Regulation by which form is modified is called Chartered Account...
Read MoreNotification No. G.S.R. 432(E). - (23/06/2021) - MCA has notified Companies (Accounting Standards) Rules, 2021 on 23rd June, 2021. vide this notification has amended definition of Small and Medium Sized Company for applicability of Accounting Standards as recommended by the Institute of Chartered Accountants of India from 01.04.2021. Central Gover...
Read MoreNotification No. 1-CA(7)/196/2021 - (22/06/2021) - An articled assistant who has passed the Intermediate (Professional Competence) Examination or Professional Education (Examination-II) or Intermediate examination and has completed a minimum of eighteen months of practical training according to these regulations shall be eligible for industrial trai...
Read MoreNotification No.1-CA(7)/198/2021 - (27/05/2021) - 1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2021. (2) They shall come into force on the date of their final publication in the Official Gazette....
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Notification No. 1-CA(7)/(199)/2021 - 29/07/2021