CA, CS, CMA : Explore the ethical issues in auditing, their consequences, and strategies for maintaining integrity. Understand how ethical stand...
CA, CS, CMA : Delve into the CRB Scam case study of 1996, exposing loopholes exploited by Bhansali, implications on public funds, and the vital ...
CA, CS, CMA : Discover how SQC-1 enhances your firm's quality control, ensuring compliance and boosting credibility. Unlock your full potential ...
CA, CS, CMA : Discover the Supreme Court's ruling on ICAI's 60 tax audits limit per Chartered Accountant, its implications, and future impact on...
CA, CS, CMA : Analysis of ICAIs disciplinary action against EY India affiliates for professional misconduct, implications, and insights into reg...
CA, CS, CMA : ICAI announces the extended deadline to 10th September 2023 for online empanelment of members as observers for the Nov/Dec 2023 CA...
CA, CS, CMA : CMA Santosh Pant elected Chairman of Northern India Regional Council of ICMAI for 2024-25. Key members include CMA Satya Narayan M...
CA, CS, CMA : ICAI President's August 2024 message highlights India's economic growth, recent exam results, and the Union Budget's role in achie...
CA, CS, CMA : ICAI schedules Advanced ICITSS - Adv. IT Test in CBT mode for August and September 2024. Check eligibility, test dates, applicatio...
CA, CS, CMA : ICAI has declared the CA Foundation June 2024 results. With 91,900 candidates and a 14.96% pass rate, find detailed results and an...
CA, CS, CMA : Delhi High Court rules that ICAI can hold entire CA firms accountable for misconduct, even if individual guilt isn't found. Full j...
Income Tax : Explore the detailed analysis of P. A. Jose Vs Union of India judgment by Kerala High Court regarding the valuation methodology fo...
CA, CS, CMA : Despite concerns over elections, Delhi High Court rejects plea to delay CA exams. Detailed analysis of the judgment provided....
CA, CS, CMA : Delhi High Court ruling upholds disqualification of bid by Sunshine Caterers in IRCTC tender due to non-mention of certified infor...
Income Tax : In the case of Cavalcade Properties Pvt. Ltd. vs. DCIT, ITAT mandates re-evaluation of advances against flat bookings, challenging...
CA, CS, CMA : Explore Section 12(e) of the Partnership Act 1932 and its implications on sharing firm financials with legal heirs. Detailed analy...
Company Law : Explore NFRA's order under Companies Act 2013 on CA Krishna Bihari Chaturvedi for audit misconduct at DHFL branches in FY 2017-18....
CA, CS, CMA : Explore the detailed analysis of a professional misconduct case under the Chartered Accountants Act 1949. Learn about findings, ch...
CA, CS, CMA : Explore the ICAI Board of Discipline's ruling on an audit dispute where the respondent's communication via registered post was dee...
CA, CS, CMA : The ICAI's Board of Discipline reprimanded CA Devarajan K.E. for misconduct, following an investigation into professional and othe...
ICAI has announced the Date Sheet/ Time Table for CA Final & CA IPCC for upcoming November 2014 Exams and the CA Final Exam would be beginning from 7th November and ending on 21st November 2014 and the CA IPCC Exam would be beginning from 8th November and ending on 20th November 2014. Related ICAI Notification is as follows :-
The Customs Act, 1962 proposed to be amended so that a reference in said Act to a Chief Commissioner of Customs or a Commissioner of Customs may also include a reference to the Principal Chief Commissioner of Customs or the Principal Commissioner of Customs, as the case may be. Further, Principal Chief Commissioner of Customs and Principal Commissioner of Customs also proposed to be included in the class of officers of customs.
Personal Taxation Basic exemption limit to be increased from Rs. 2 lakhs to Rs. 2.5 lakhs for taxpayer below the age of 60 years and from Rs. 2.5 lakhs to Rs. 3 lakhs, in case of senior citizens. The existing limit of deduction under section 80C to be increased from Rs. 1 lakh to Rs. […]
Result of the Common Proficiency Test (CPT) held in June, 2014 is likely to be declared on Wednesday, the 16th July, 2014. The result of the Common Proficiency Test (CPT) held in June, 2014 is likely to be declared on Wednesday, the 16th July, 2014 around 4.00 P.M. and the same as well as the […]
Finance Act, 1984 introduced Section 44AB under Income-tax Act, 1961 w.e.f Assessment Year 1985-86. Under this section, if the total sales / turnover or gross receipts for previous year exceed the prescribed limits then assessee is required to get his accounts audited by an “Accountant”. This audit is popularly known as Tax Audit.
ANNOUNCEMENT Modification in the Council Guidelines No. 1-CA(7)/02/2008 dated 8th August, 2008 as contained in Appendix No. (34) to the Chartered Accountants Act, 1949 The Council of the Institute at its 331st meeting held in February, 2014 decided to increase the specified number of tax audits from 45 to 60 and an Announcement dated 11.2.2014 […]
The Uttar Pradesh (UP) Government vide Section 21 of The Uttar Pradesh Value Added Tax Act 2008 and Rule 42 thereof has already recognized Cost Accountants for the purpose of Auditing of Books of every taxable dealers under the Act. Now The UP Government has issued an amendment to Rules vide Government Notification no. Ka.Ni.-2-684/XI-9(295)/07-U.P.VATRULES-08-order-(114)-2014, […]
Clarifying Certain Auditors’ Concerns under Companies Act, 2013 – The Council recently considered the issue of date of applicability of section 143(3)(i) of the Companies Act 2013, requiring the Statutory Auditor to report on adequacy and operating effectiveness of internal financial controls in the Statutory Auditor’s report. It also considered section 143(12) of the said Act, envisaging the Statutory Auditor to report Frauds committed or being committed against the Company to the Central Government.
Advocate B.S.K.RAO 1. Below are the accounting bodies of various country’s world over on date, In spite of this, they have separate bodies/legislation for regulation of Tax Professionals. Reason being, situation similar to that of latest Supreme Court verdict in the case of Bar Council of India Vs A.K.Balaji about Practice of Law by only […]
Section 54- Investment in residential house Several disputes are in existence as to whether an assessee can buy more than one house under provisions of section 54 of the Income-tax Act, 1961. In the recent times High Courts and ITAT have taken a consistent view that in order to avail the exemption u/s 54 of […]
