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 The appeal was withdrawn wi...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...
MCA Appeals to Avoid Last Minute Filing of Return: To avoid last minute rush and system congestion in MCA21 towards end of October and November 2013, I request all of you to expedite filing of balance sheet and annual return without waiting for the last days of the months
ICAI has requested CBDT to extend the due date of e‐filing of income‐tax returns, tax audit reports and report under section 92E of the Income‐tax Act, 1961
ICAI has constituted a committee to look into amendments if any to be made in rules related to three consecutive term restriction on the continuance as member of the Regional Council vis-à-vis corresponding applicable rules pertaining to Central Council elections. The Committee will submit its report to the President within 15 days.
This document deals with those FAQ’s which are not covered in the e-filing portal. The members may visit the www.incometaxindiaefiling.gov.in for other FAQ’s.
ICAI President’s Message – September 2013 – (30-08-2013) Dear Friends, I sincerely express our gratitude to everybody who has helped in shaping the journey of the accountancy profession of India in the past. I would extend my deep appreciation to all of them for their sheer sense of wisdom and keenness to guide our profession, […]
The Council of ICAI, at its 326th meeting held from 27th to 29th July 2013 considered the issue relating to application of Standard on Auditing (SA) 700¸ Forming An Opinion And Reporting on Financial Statements to such cases
As the members are aware, e-filing of Tax Audit Reports has been made mandatory from the AY 2013-14 onwards vide Notification No. 34/2013 dated 01-05-2013. In order to e-file Tax Audit Report a Chartered Accountant requires to register himself in the e-filing portal as a Tax professional.
Ethical Standards Board of ICAI which engaged in bringing our awareness of the provisions of Code of Ethics among members and devise ways to acquaint the members belonging to all areas of the country, including the remote areas.
The Committee on Accounting Standards for Local Bodies of the Institute of Chartered Accountants of India invites comments on any aspect of this Exposure Draft of Accounting Standard for Local Bodies (ASLB) 31, ‘Intangible Assets’.
WHY A NEW LAW WAS NEEDED? The changing national and international economic environment Exponential growth of the Indian economy Changes in the stakeholders’ expectations Manifold Increase in Number of Companies Year No. of Companies 1956 30,000 approx 2013 11,00,000 approx The need of a legal framework was felt to enable the Indian corporate sector to […]
