IBBI seeks to appoint a Chartered Accountant (CA) firm as Internal Auditor for performance of work defined in the later part of this tender document. The appointment of CA firm shall be for a period of two years, i.e., for the financial years 2019-20 and 2020-21.
The Government has not held any consultation regarding taxation of digital businesses as such. However, to address the challenges posed by the enterprises who conduct their business through digital means and carry-out activities in the country remotely, the following measures have been taken:
ICAI ARF assigned the task of reopening of the books and recasting of the financial statements of IL&FS, IFIN and ITNL from Financial Year 2012-13 to Financial Year 2017-18
E-Capsule Compiler for Quick Revision The Board of Studies has recently launched e-Capsules on ICAI Cloud Campus which are a compilation of subject-wise capsules published in “The Chartered Accountant Student” – a monthly journal released by the Board of Studies. The capsules have been started in the Students’ Journal from April, 2017 and are continuing […]
Educational Material on Indian Accounting Standard (Ind AS) 111, Joint Arrangements This Educational Material on Ind AS 111, Joint Arrangements will provide guidance to the stakeholders in how an entity that is a party to a joint arrangement to determine the type of joint arrangement by assessing its rights and obligations and to account for those […]
Today, on February 12, 2019, ICAI elected its new Torchbearers CA. Prafulla P. Chhajed as the President and CA. Atul Kumar Gupta as the Vice-President for year 2019-20.
The level of income-tax compliance has continuously increased over the last three Financial Years, which is reflected in the number of Income-Tax Returns filed over this period, as given hereunder: – S.No. Financial Year Total Number of Income Tax Returns filed Percentage increase over previous Financial Year (a) (b) (c) (d) 1 2015-16 4.63 Crore […]
Standards on Auditing (SAs) recognize the importance of ‘External Confirmations’ as audit evidence. Relevant extracts of some SAs regarding external confirmations are reproduced below.
It has come to the notice of CBDT, through some media reports that Rs. 36 lakh have been recovered from a startup, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax. It has been alleged that this was in violation of the CBDT instructions dated 24th December, 2018 pertaining to recovery of dues in Angel Tax cases.
Five Years Rigorous Imprisonment To Then Assistant Director Of Income Tax And A Private Person For Accepting Bribe Of Rs. One Lakh The Special Judge, CBI Cases, Dhanbad (Jharkhand) has sentenced Sh. Swarn Singh, then Assistant Director, Income Tax (Investigation), Dhanbad to undergo five years Rigorous Imprisonment with a fine of Rs. one lakh and […]
