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 The appeal was withdrawn wi...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...
The proposition that right to use a copyright is different from right to use a copyrighted article is recognized and it is only the right to use a copyright which is covered within the definition of royalty.
Explanation 5 to Section 9(1)(vi) has been introduced by Finance Act, 2012 w.e.f. 1st June 1976 to clarify that royalty includes and has always included consideration in respect of any right, property or information, whether or not the right, property or information is used directly by the payer or is located in India or is in the control or possession of the payer.
Expansion of definition [Explanation 6 to section 9(1)(vi)] of process so as to include transmission by satellite, cable, optic fiber or by any other similar technology within definition of Royalty should be dropped as it is negatively impacting telecom sector and leading to
The anomalous position may be rectified by making suitable amendment in section 2(19) defining a Co-operative Society, by including therein a society registered under the Central Act currently applicable.
EXPOSURE DRAFT PREFACE TO THE FRAMEWORK AND STANDARDS ON INTERNAL AUDIT* (Last date for comments- January 17, 2018) The Internal Audit Standards Board of The Institute of Chartered Accountants of India (ICAI) invites comments on proposed revision to the Preface to the Framework and Standards on Internal Audit. Comments are most helpful if they indicate […]
Concessional Fare offer in booking of Air tickets from Jet Airways for Members of ICAI: An arrangement by the Committee for Capacity Building of Members in Practice (CCBMP), ICAI
Recently social media is abuzz about removal of membership of around 12000 Chartered Accountants for non payment of their annual membership fees. The names of members, whose annual membership fees are not received before the due date, are removed from the Register of Members, with effect from 1st October 2017. Members were required to pay […]
Digital Era and the Chartered Accountancy Profession –Survey Report 2017 is a crucial step to take the pulse of the challenges profession faces in digital era, and making the profession digital ready.
The Institute of Chartered Accountants of India (ICAI), has released Digital Competency Maturity Model (DCMM) for Professional Accounting Firms to enable the members/ firms to assess the current digital competence of their firms and building their firms competencies for their own growth and the profession at large.
Service Tax 1. Transition provision for tax paid on receipt basis Rule 6 of Service Tax Rules, 1994 provides that in case of such individuals, partnership firms and one-person companies whose aggregate value of taxable services provided from one or more premises is Rs. 50 lakhs or less in the previous financial year, the service […]
