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Fact Sheet on Amendment in India’s export policy on Rice
Recent changes in India’s rice-export rules have helped keep a check on domestic prices without reducing the availability for exports. The changes have been done keeping in mind the need to support th...
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CA Firms mandated to assess their current level of maturity model using AQMM
Public Relations Committee The Institute of Chartered Accountants of India 21st September, 2022 ICAI Press Release Firms mandated to assess their current level of maturity model using Audit Quality Ma...
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Representation to extend due date of filing of Income Tax Audit reports
Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st October, 2022. ALL INDIA FEDERATION OF TAX PRACTITIONERS Dated: September...
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Technical Guide on Audit of Charitable Institutions under Section 12A of Income-tax Act, 1961
ICAI Technical Guide on Audit of Charitable Institutions under Section 12A of Income-tax Act, 1961 Dynamics of the income-tax law, compel sharpening of skill sets in the arena for effective performanc...
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Clarification on Media Reports regarding Oil Ministry seeks windfall tax review
There have been some media reports which states that ‘Oil Ministry seeks windfall tax review’. The reports, quoting Ministry of Petroleum & Natural Gas’ letter of August, 2022 have stated that the Min...
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Transfer/postings of 155 officers in the grade of Pr. CIT/Pr. DIT
Office Order No. 204 of 2022, Dated: 19.09.2022 transfer/postings of 155 officers in the grade of Principal Commissioner of Income Tax/ Principal Director of Income Tax (Pr. CIT/Pr. DIT). F.No.A.22011...
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83 transfer/postings in the grade of CCIT/DGIT
Office Order No. 203 of 2022-Income Tax Dated: 19.09.2022 on transfer/postings of 83 officers in the grade of Chief Commissioner of Income Tax/ Director Generals of Income Tax (CCIT/DGIT). F. No. A-22...
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CBDT notifies Form ITR-A & rules for modified return by successor entity
CBDT notifies new Income Tax Rule 12AD modified return of income under section 170A to be furnished by a successor entity to a business reorganisation and relevant Form ITR-A vide Notification No. 110...
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Amendments in IBBI Liquidation & Voluntary Liquidation Process Regulations
Amendments in IBBI (Liquidation Process) Regulations, 2016 and IBBI (Voluntary Liquidation Process) Regulations, 2017 1. Streamlining the constitution of SCC Present framework ❖ Reg. 31A -*Stakeholder...
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What are Professional Misconducts of a Chartered Accountant
PART- 1 Don’ts 1. A Practicing Chartered Accountant abstain from soliciting clients or professional work either directly or indirectly by circular, advertisement, personal communication, or interview...
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Representation on Income Tax outstanding demand collection drive
KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R.) Date: 19th September 2022 To, Smt. Nirmala Sitharaman Hon. Union Minister of Finance and Corporate Affairs Government of India Hon’ble Madam, SUB...
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Representation to extend due date of filing of Income Tax Audit reports
Representation to extend the due date of filing of Audit reports under Income Tax Act, 1961, from 30th September, 2022 to 31st October, 2022. ALL INDIA FEDERATION OF TAX PRACTITIONERS Dated: September...
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Exposure Draft of AS 113, Fair Value Measurement
Accounting Standards Board The Institute of Chartered Accountants of India 19th September, 2022 Exposure Draft of AS 113, Fair Value Measurement The Indian Accounting Standards (Ind AS), as notified b...
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Income Tax Audit Clinic
Direct Taxes Committee The Institute of Chartered Accountants of India 12th September, 2022 Tax Audit Clinic Dear Professional Colleagues, As you are aware that the Direct Taxes Committee of the ICAI...
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Banking sector to make a big contribution to make India a developed nation
Banking sector has to make a big contribution to making India a developed nation by 2047: Union Finance Minister Smt. Nirmala Sitharaman at 75th AGM of Indian Banks’ Association Union Finance Minister...
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Better utilize AI, data-analytics & other technologies to identify tax evasion
Finance and Corporate Affairs Minister inaugurates ‘Kendriya GST Parisar’ residential complex for CGST officers at Kharghar, Navi Mumbai We need to better utilize AI, data-analytics, IoT and other tec...
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GST Council Newsletter for the month of August, 2022
GST Revenue collection for August, 2022 ₹1,43,612 crore gross GST revenue collected in the month of August, 2022 The gross GST revenue collected in the month of August, 2022 is ₹1,43,612 crore of whic...
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Net Direct Tax collections for FY 2022-23 have grown at 23%
Gross Direct Tax collections for the Financial Year (FY) 2022-23 register a growth of 30%. Net Direct Tax collections for the FY 2022-23 have grown at 23%. Advance Tax collections for the FY 2022-23 s...
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HPZ Token Bitcoin fraud – ED carried out search operations under PMLA
Directorate of Enforcement (ED) has carried out search operations under the Prevention of Money Laundering Act (PMLA), 2002 (on 14.09.2022) Press Release 16.09.2022 Directorate of Enforcement (ED) has...
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ICSI Request for exemption from delayed filing fee for Charge related forms
Keeping in view the technical difficulties faced by stakeholders, ICSI request MCA to consider granting exemption from delayed filing fee for these 5 charge related forms, i.e., Form CHG-1, CHG-4, CHG...