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 The appeal was withdrawn wi...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...
Every year 1st of July is celebrated as the Foundation Day of ICAI as it was on this day in 1949 that the Parliament passed the Chartered Accountants Bill. Deputy Chairman of Rajya Sabha and the Guest of Honour at the celebration, Shri K. Rehman Khan said that the Chartered Accountancy profession has played a very important role in the economic growth of India during last 60 years. He expressed the view that the profession should not be restricted to audit the accounts of only the corporates or the business but should also be allowed to audit the public finance or the Government spending.
The Corporate Affairs Minister, Mr Salman Khurshid, has called for higher representation of women in the chartered accountancy profession, similar to the 33 per cent reservation for women in Parliament. “If there can be 33 per cent representation for women in Parliament, then why not something like that in the chartered accountancy profession too?,” Mr Khurshid said at the Chartered Accountants’ Day celebrations organised by the Institute of Chartered Accountants of India (ICAI) held here.
As part of our responsibility to train officials of various departments of the Government and public sector undertakings on the matter of IFRS implementation, meetings were held with the Secretary, Ministry of Urban Development, CMD, Power Finance Corporation, Finance Advisor, Department of Telecommunications, etc. As a matter of follow-up, details of the training programmes/workshops are being sent wherever desired. Also, meetings with officials of various Departments and public-sector undertakings are being arranged. It shall be our sincere endeavour to perform the role in a manner befitting the ICAI as expected of us by the Ministry of Corporate Affairs.
Maytas Infra Ltd today maintained that it has documentary evidence to show that Mahindra Satyam (Satyam Computer) was the ultimate beneficiary of Rs 324 crore, which was handed over as inter-corporate deposits (ICDs). This is part of Rs 392 crore ICDs, which the erstwhile promoters of Maytas Infra Ltd, passed on to other corporate entities, including Mahindra Satyam.
India’s apex audit and accounting body wants more regulatory powers to prevent frauds such as the one perpetrated by B. Ramalinga Raju, the founder of Satyam Computer Services Ltd. The Institute of Chartered Accountants of India (Icai), in a report to the ministry of corporate affairs (MCA), has asked that its committees be given the power to summon witnesses and ask for production of records of companies when it is investigating corporate and accounting frauds perpetrated by audit firms.
The Mahindra group and the various enforcement agencies appear to have different viewpoints on the treatment of the Rs 1,230-crore, which Mr Ramalinga Raju had personally invested in the erstwhile Satyam Computer Services between 2007 and 2009.
The next Professional Competence Examination (PCE), Integrated Professional Competence Examination (IPCE) and Final Examinations of the Institute will be held from 8th November-2010 to 22nd November-2010 at the following centres :
Three persons, including a former IAF staffer, who were arrested by the CBI for cheating a chartered accountant of over Rs 75 lakh, were on Wednesday remanded in judicial custody by a sessions court. The accused had allegedly cheated the complainant on the pretext of helping him to sell his products and getting some of his projects pending with the government cleared.
The Direct Taxes Committee has been receiving emails/ letters from various members seeking opinion on tax related queries. It may however be noted that as a matter of policy the Committees of the Institute do not undertake to express any view which would amount to an opinion or interpretation of a statutory provision.
ICAI Celebrating CAs Day on July 1st ,2010. Successfully Completed 51 Years by ICAI. ICAI formed on July 1st, 1949.ICAI is One of the Most Powerful Accounting Body World Wide. ICAI has Very Big Impact in India.ICAI Produced 153,600 Chartered Accountants ( CA ) till April 2009( Data : Wikipedia ). There is always Best Future for future Chartered Accountants.
