There is a rumor doing rounds on Various Yahoo, Facebook and whatsapp group, which say that tax audit limit been increased to 60 from existing limit of 45. These groups are claiming the same been told them by a Central Council member (CCM) of Institute of Chartered Accountants of India (ICAI) . We have searched Official […]
The Union Finance Minister, Mr P. Chidambaram, released the Budget Manual in Hindi here today. It is for the First time that Budget Manual has been prepared in Hindi by the Finance Ministry. The Budget Manual in Hindi is a comprehensive 266 page document which captures the content of the Union Budget as well as […]
The Intermediate and Final Results for December 2013 Term Examination results are likely to be declared on 21st February 2014. For convenience of the students the online results would be available on the following servers: 1. http://examicai.in 2. http://examicmai.org
The Central Government has approved two additional attempts to all categories of candidates w.e.f. Civil Services Examination 2014 with consequential age relaxation of maximum age for all categories of candidates, if required from February 07, 2014. Source- Ministry of Personnel, Public Grievances & Pensions- Press Release Dated 11-February, 2014
Dear Members, We are glad to inform you the following ICAI Awards 2013 to Western Region Best Regional Council Western India Regional Council (WIRC) (jointly with Eastern India Regional Council (EIRC)) Best Students Association Western India Chartered Accountants Students Association (WICASA)
Halwa ceremony marking the commencement of Budget printing process for Interim Budget 2014-15 was held in North Block yesterday in the presence of the Union Finance Minister Shri P.Chidambaram. Interim Budget 2014-15 is to be presented on 17th February, 2014.
Government’s Clarification on the Reports that Finance Ministry Pays interest on Excess Tax Refund This is with reference to the news report appearing in certain section of media that the Finance Ministry pays Rs.37, 365 cr. in interest on excess tax refund and similar reports. The emphasis of these reports is that huge interest was […]
Announcement 1 : Manner of Reporting on Section 227(3)(bb) of the Companies Act, 1956. Announcement 2 : Reference to the Accounting Standards Applicable to the Companies in the Auditor’s Report and Limited Review Reports and various Engagement Standards. Announcement 3 : Amendment to the “Auditor’s Responsibility” Paragraph Included in the Independent Auditor’s Report. Announcement 4 […]
I. The Council of the Institute of Chartered Accountants of India, at its 329th Adjourned meeting, held on 03rd and 04th January, 2014 at New Delhi noted that the illustrative formats of the independent auditor’s report (in respect of a Company) as given in SA 700, SA 705 and SA 706 contain the references to “Profit and Loss Account” at various places. The term was being used since the Schedule VI to the Companies Act, 1956 also used this term.
The Council of the Institute, at its 329th (Adjourned) meeting held on 03rd and 04th January 2014 at New Delhi noted that reporting by the statutory auditors of the Company on clause (3)(bb) of section 227 of the Companies Act, 1956 is a legal requirement in cases where the company had appointed separate branch auditor/s.
