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 The appeal was withdrawn wi...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 Finance Bill, 2017 proposes to amend section 79 to provide that where a change in shareholding has taken place in a previous year in the case of a company, not being a company in which the public are substantially interested and being an eligible start-up as referred to in section 80-IAC of the Act
An issue arises as to whether the proposed amendment intends to take out sale of jewellery completely from TCS levy or intends to retain the TCS levy on jewellery but with lower threshold of Rs. 2 lakhs.
Whether a practicing Chartered Accountant while he holds the certificate of practice issued by the Institute of Chartered Accountants of India would be liable for punishment for any misconduct committed during the existence of certificate
Section 50CA and section 56(2)(x)(c)- Fair Market Value to be full value of consideration in case of transfer of unquoted shares –Amendment required in view of double taxation in the hands of seller as well as buyer
I feel extremely privileged to take over as 65th President of ICAI, in the 68th year of its glorious existence and recognition. Realising my increased involvement in the affairs of my dear profession, I feel humbled, as nothing could be more satisfying in the career of a professional than serving his/her alma-mater
The Finance Bill 2017 proposes to insert sub-section (5A) in the existing section 45 to provide that the capital gains arising to an individual or Hindu undivided family under a Joint Development Agreement shall be taxed in the year in which completion certificate for the whole or part of the project is received
In order to avoid the unintended hardship to small taxpayer, the limit of exemption under section 56 may be increased from 50,000 to Rs. 5 lakhs.
The Finance Bill 2017 proposes to insert sub-section (5) in existing section 23 to provide that where the house property consisting of any building and land appurtenant thereto is held as stock-in-trade and the property or any part of the property is not let during the whole or any part of the previous year
Only such expenditure for acquisition of asset may be disallowed which has been incurred in cash and accordingly, depreciation under section 32 may be permitted for balance portion expended in non-cash mode.
Section 44AB – Increased threshold for presumptive tax cases under section 44AD – Consequential amendments required in section 194A/ 194H/ 194I & 194J
