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 The appeal was withdrawn wi...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...
Generally, consolidated financial statements of an entity are required to be presented under the relevant legal or regulatory requirements. In India, these requirements are met by presenting consolidated financial statements prepared under the applicable Accounting Standards
Amendment to AS 2, 4, 6, 10, 13, 14, 21 and 29 issued by the Institute of Chartered Accountants of India, pursuant to issuance of amendments to Accounting Standards by the MCA
Implementation of the GST regime, the biggest tax reform since Independence, is now a step closer with the Hon’ble President of India Shri Pranab Mukherjee recently giving his assent to the much- awaited Constitution Amendment (GST) Bill after being ratified by more than 16 States across the nation.
We all as dignified professional, with utmost sincerity and perseverance do discharge our professional duties. We have commanded our fields and we do perform our duty to the best of our efforts, but somehow I feel, that our fraternity fails to collect the professional fees which is our legitimate right.
A number of issues are constantly being faced by the SMPs and companies in the implementation of Ind AS. In view of this, it has been decided to launch a Support-desk for implementation of Ind AS, so as to address the difficulties faced by the members and stakeholders as early as possible.
Invitation for empanelment as Resource Persons for the Career Counselling programmes to be organized by the Career Counselling Committee in the Year 2016-17
The Ministry of Finance, Department of Revenue has formed a Standing Committee on TDS. The Committee aims at exchanging ideas on enhancing voluntary compliance of TDS / TCS and at the same time strengthening partnership with tax practitioners and tax deductors / collectors and third party partners, promoting education and awareness of TDS/TCS provisions amongst the deductors / collectors & tax payers and minimizing scope for grievances.
The Direct Taxes Committee at its 53rd meeting held on 30th August, 2016, while considering an item `Constitution of a Committee by the Government of India to examine the desirability and feasibility of having a new Financial Year’, decided to request the President, ICAI to constitute a Study Group for examining the desirability and feasibility of having a new financial year
Readers may note that this Guidance Note supercedes the Guidance Note on Audit Reports and Certificates for Special Purposes, issued by the ICAI in 1984. Members of the Institute of Chartered Accountants of India (ICAI) are often called upon to issue reports/certificates for special purposes e.g. reports/ certificates required under the tax laws, Government welfare […]
Companies Act 2013 requires auditors to express their opinion on existence of internal financial controls in place and their operating effectiveness, and this is in addition to their expression of opinion on financial statements. Initially this reporting requirement was applicable to financial statements ending on 31st March, 2015 but due to lack in compliance guidelines this applicability got deferred
