Goods and Services Tax : ICAI clarified that ITC wrongly reversed under Table 4(B)(1) instead of Table 4(B)(2) can still be reclaimed within statutory time...
CA, CS, CMA : The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified wh...
CA, CS, CMA : Banks are asking CAs to issue end-use and KYC certificates without regulatory support. RBI confirms no such requirement exists, hi...
Company Law : The proposal to remove statutory audits for small companies risks eliminating independent financial scrutiny, potentially weakenin...
Corporate Law : The Bar Council of India has officially confirmed that the IGNOU-ICAI B.Com (Accountancy & Finance) degree meets all eligibility c...
CA, CS, CMA : ICAI has announced Live Virtual Revisionary Classes for CA Intermediate students appearing in the September 2026 examinations. The...
CA, CS, CMA : ICAI's Board of Studies has invited Expressions of Interest from qualified professionals and academicians for empanelment as facul...
CA, CS, CMA : ICAI has notified the Information Systems Audit (ISA) Assessment Test for 25 July 2026 in CBT mode. The announcement specifies eli...
CA, CS, CMA : ICAI has clarified that members coaching students or having relatives appearing in the examinations are not eligible for Observer ...
CA, CS, CMA : The Sales Tax Bar Association requested reconsideration of Bar Council of India rules prohibiting advocates from entering partners...
CA, CS, CMA : The Delhi High Court held that one of the meetings relied upon for automatic vacation of the petitioner’s seat was convened with...
CA, CS, CMA : The Court examined whether a complaint arising from a family dispute can be entertained in misconduct proceedings. It held that su...
CA, CS, CMA : The High Court held that a direct appellate challenge to the final removal order was not maintainable. The appeal was withdrawn wi...
CA, CS, CMA : The court affirmed disciplinary action where an auditor failed to detect ever-greening of assets and misreporting in audit account...
Income Tax : The ITAT Delhi has deleted a ₹25,000 penalty under Section 271A, ruling that F&O turnover for a trader should be calculated base...
CA, CS, CMA : ICAI notifies removal of 12 chartered accountants from membership rolls, with suspension periods, fines, and reprimands in select ...
CA, CS, CMA : ICAI Board holds CA not guilty in bribery case, finds no proof of knowledge or intent; mere receipt of packet without mens rea not...
CA, CS, CMA : The issue involved allegations of assisting in bogus accounting entries. The ruling held that without certification or statutory r...
CA, CS, CMA : The issue involved disciplinary action for professional and other misconduct under the Chartered Accountants Act. The authorities ...
Corporate Law : The amended guidelines mandate minimum CPE hours for all practicing members. Non-compliance will lead to discontinuation of the Ce...
ICAI Handbook on Personal Guarantors to Corporate Debtors under The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 was implemented with the provisions relating to insolvency and liquidation of corporate persons coming into force in December 2016. Implementation of individual insolvency and bankruptcy was intended to be notified in a phased manner […]
ICAI Handbook On Resolution Plan Under The Insolvency and Bankruptcy Code, 2016 The Insolvency and Bankruptcy Code, 2016 (IBC) has been introduced with the overall objective of promoting entrepreneurship and balance the interest of all stakeholders by consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals […]
The ICAI, on July 08, 2021 has notified the revised Form 18 i.e. disclosure of particulars relating to office and firms under the Chartered Accountants Regulations, 1988 through Notification No. 1-CA(7)/197/2021, dated July 8, 2021 the ‘Chartered Accountants (Amendment) Regulations, 2021. With the change in form 18, CA firms are now allowed to have partnership […]
Update on New Income Tax eFiling Portal : ICAI is continuously engaged as a stakeholder in streamlining the Portal. We sincerely believe that our concerted actions will help in delivering a glitch free & effective eFiling portal for public use soon. The Institute of Chartered Accountants of India Members may recall the meeting chaired by […]
ICAI notifies Revised FORM 18; Allows Partnership with CA, CS, CMA etc. 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 […]
Cabinet approves Memorandum of Understanding (MoU) between Institute of Cost Accountants of India (ICoAl) and the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK)
Guidance Note on Accounting for Derivative Contracts (Revised 2021) The Research Committee of ICAI issued the Guidance Note on Accounting for Derivative Contracts to establish uniform accounting principles for accounting of derivative contracts. In view of global developments in respect of Interbank Offered Rates (IBORs), the same has been revised. A report on “Reforming Major […]
ICAI signs MoU with Qatar Financial Centre (QFC) for export of accounting services to Qatar & exploring professional and business opportunities for ICAI members
Institute of Chartered Accountant of India Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 5th July, 2021 FREQUENTLY ASKED QUESTIONS Sub: Frequently Asked Questions on Circular regarding Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 issued by the Ministry of […]
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT issues Notification extending various Income Tax due date extended to the 30th September, 2021) (including for imposition of penalty under Chapter XXI, Linking of Aadhhar with PAN, for assessment or reassessment completion under section 153 or section 153 B the Income-tax Act. Notification No. 74/2021-Income […]
