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 The appeal was withdrawn wi...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...
Companies (Auditor’s Report) Order, 2020 is not applicable for the IPCC, Intermediate, Final (Old) and Final (New) examinations to be held in May 2021.
UNIQUE DOCUMENT IDENTIFICATION NUMBER (UDIN) FOR PRACTICING CHARTERED ACCOUNTANTS UDIN FOR PRACTICING CA Unique Document Identification Number (UDIN) is a unique number, which will be generated by the system for every document certified/ attested by a Chartered Accountant and registered with the UDIN portal available at https://udin.icai.org. Registration Process UDIN is 17 digit number. The algorithm […]
The International Affair Policy and International Curriculum launched by ICAI is a step in the right direction to enhance ICAI’s global presence and recognition.
Pass Percentage and Toppers of Chartered Accountants Intermediate ( Old & New Course) & Foundation Examination held in November, 2020. THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA (Set up by an Act of Parliament) Public Relations Committee The Institute of Chartered Accountants of India 8th February, 2021 ICAI Press Release The Institute of Chartered Accountants […]
ICAI had entered into an MOU with al (ITAT) whereby ICAI extended the facility of using ICAI infrastructure at branches for conducting camp hearings of ITAT as and when required at ICAI branches& offices across the country including Srinagar & Ladakh.
Dear Professional Colleague, Sub: ITR 7 Guidance Note issued by CPC Bengaluru The Centralized Processing Center, Bengaluru has conducted an exclusive Webinar on ITR-7 for A.Y 2020-21 on 17.12.2020 from 04.00 PM to 05.30 PM for the benefit of Chartered Accountants, Tax Practitioners & Taxpayers. The following topics were covered during the webinar: Guidance for filing ITR-7 for A.Y 2020-21. Common […]
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ CBDT issues notification and notifies Faceless assessment scheme 2021 and direction to give effect to the Faceless Penalty scheme,2021 (Notification No. 03/2021 dated 12/01/2021) ♦ Amount of remuneration u/s 9a(3)(m) of the Income Tax Act (Circular No. 1 of 2021 dated 15.01.2021) Budget Highlights > No […]
The Finance Bill, 2021 has introduced a spate of proposals on business taxation and personal taxation as well as proposals relating to assessment and dispute resolution. The significant proposals on direct taxes are briefed hereunder –
HIGHLIGHTS OF THE UNION BUDGET-2021 -22- Tax proposals- International Taxation – 1. Addressing mismatch in taxation of income from notified overseas retirement fund [Section 89A]
The Council Year 2020-21 is reaching its finality very soon. As per the tradition, I will be completing my tenure as the President of ICAI to move ahead, with a feeling of great satisfaction that we as a team are able to contribute for our alma mater, despite the challenges posed by pandemic.
