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 The appeal was withdrawn wi...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...
Union Budget 2019 Highlights – International Taxation 1. Relaxation in conditions of special taxation regime for offshore funds [Section 9A] In case of the investment fund incorporated or registered outside India, which satisfies certain conditions as provided in subsection 3 of section 9A of the IT Act, the fund management activity carried out through an […]
Results of the Common Proficiency Test (CPT) held in June 2019 are likely to be declared on Thursday, the 18th July 2019. – (11-07-2019) THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA [Set up by an Act of Parliament] July 11, 2019 IMPORTANT ANNOUNCEMENT The results of the Common Proficiency Test (CPT) held in June 2019 […]
ICAI vide its letter dated 08th July 2019 objected to News Item titled ‘Parvez par aniyamittaon ka bhari bharkam bojh’ published in Amar Ujala, Jammu on June 10, 2019 and News Item titled ‘Sacking of J&K Bank head opens up a can of worms’ published in The Times of India dated June 10, 2019. Text […]
INDIRECT TAXES 1. Benefiting Domestic Industries: Custom duty on imports of many products have been increased such as Automobile parts, Electronic & electrical equipment etc. This will give boost to the domestic industry. 2. Resolving litigation: Sabka Vishwas (Legacy Dispute Resolution) Scheme proposed for quick disposal of pending 3.65 Lacs Crore -central excise and service […]
ICAI GUIDANCE NOTE ON DIVISION II-IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Government is bringing out several changes in the Companies Act, 2013 from time to time to enhance transparency by way of mandating additional disclosures. Towards the same, the Ministry for Corporate Affairs has issued a Notification […]
ICAI GUIDANCE NOTE ON DIVISION I-NON IND AS SCHEDULE III TO THE COMPANIES ACT, 2013 (Revised July 2019 Edition) The Division I to the Schedule III of the Companies Act, 2013 lays down the format for preparation of the financial statements by the Companies that are required to comply with Companies (Accounting Standards), Rules, 2006, […]
A total of 29 sections were amended and 2 new sections were inserted through the earlier ordinances, which were promulgated on 2nd November, 2018 (Ordinance 9 of 2018) and on 12th January, 2019 (Ordinance 3 of 2019). -The Companies (Second Amendment) Ordinance 2019 was issued by the Government on 19th February, 2019 -It is based on […]
In this Exposure Draft, the International Accounting Standards Board (Board) proposes targeted amendments to IFRS 17 Insurance Contracts, issued in May 2017 to respond to concerns and challenges raised by stakeholders as IFRS 17 is being implemented.
The 70th Chartered Accountants Day of ICAI was celebrated today i.e. on July 1st all across the country with great enthusiasm and zeal. July 1st is a landmark day in the history of ICAI as on this day ICAI was set up to regulate the Profession of Chartered Accountancy in India in the year 1949. This CA Day was more special as the Institute has reached a significant milestone i.e. Platinum Jubilee of its glorious existence.
Unique Document Identification Number (UDIN) being made mandatory from 1st July, 2019 for all Audit/Assurance/Attest function – (01-07-2019) It has been noticed by the Institute of Chartered Accountants of India that Financial Documents / Reports / Certificates are being signed by Non-CAs misrepresenting themselves as CA Members thereby misleading the Regulators, Authorities and Stakeholders. To curb this […]
