The Protocol provides for source-based taxation of capital gains arising from alienation of shares acquired on or after 1st April, 2017 in a company resident in India with effect from financial year 2017-18.
In the CA curriculum, the relationship between Principal and Article Trainee is that of a teacher and a student. As Principal, our members play a significant role in nurturing their articled trainees and moulding them to acquire professional skills that ultimately lead them to success–in examination as well as in their professional life post-examination.
The Implementation Guide addresses the various issues relating to the auditor’s reporting responsibilities on the financial statements prepared under the Indian Accounting Standards (Ind AS) framework especially during the transition phase of first time implementation of Ind AS Framework.
The issue of deactivating of the e-filing accounts of the members of the ICAI by the Income Tax Department on account of the mismatch in ‘Name’/ ‘PAN No.’ / ‘Date of Birth’ in the Income Tax records and the records available with the ICAI was taken up with the Income Tax Authorities on 26th August 2016.
Ministry of Corporate Affairs, has decided that a group be formed for formulation of ICAI’s response to Ministry of Corporate Affairs on regulation of foreign firms, joint auditorship and other related matters.
The Auditing and Assurance Standards Board of ICAI has issued Implementation Guide on Audit of Internal Financial Controls over Financial Reporting with Specific Reference to Smaller, Less Complex Companies.
The Reserve Bank of India today announced a package of measures for the development of fixed income and currency markets. These measures are intended to further market development, enhance participation, facilitate greater market liquidity and improve communication.
The Reserve Bank of India today placed on its website the Draft Large Exposures (LE) Framework for comments. The salient features of the proposed Large Exposures (LE) Framework include: The Large Exposure (LE) limit in respect of each counterparty and group of connected counterparties, under normal circumstances, will be capped at 20 percent and 25 […]
India, today took another major step in the fight against tax evasion, round tripping and base erosion/profit shifting. The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of an Agreement and the Protocol between the India and Cyprus for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income.
The Union Finance Minister Shri Arun Jaitley reviews the Implementation of Insolvency and Bankruptcy Code (IBC) 2016; Calls for quick action to implement the IBC in a time bound manner
