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Guideline- Joining/Association with “Networks” by ICAI Members in Practice
AnnouncementJoining/Association with “Networks” by Members in PracticeIt has come to the knowledge of the Institute that many members in practice are joining/associating themselves with “Networks” whi...
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Tax Exemptions to Startups
4 Major Tax Exemptions to Startups 4 Major Tax Exemptions to Startups includes Income Tax Exemption on profits under Section 80-IAC of Income Tax (IT) Act, Tax Exemption on Investments above Fair Mark...
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MOS Finance: DRI must employ new-age technology to fight smuggling networks
Ministry of FinancePosted On: 04 DEC 2019Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs, said that sharing information, using data analytics and usage of non-intrusive technolog...
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Draft of Accounting Standards for Local Bodies (ASLBs) 4, ‘Effects of Changes in Foreign Exchange Rates’
ICAI/TD/CP&GFM/2019-20 Date: December 6, 2019Dear Sir/Madam,Sub: Exposure Draft of the Accounting Standards for Local Bodies (ASLBs) 4, ‘The Effects of Changes in Foreign Exchange Rates’ for comments....
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Govt clarifies on change in the constitution of GOM on IGST
Press Release GST Council 10.12.2019Modification in constitution of GM on IGSTNew Delhi: With reference to some news being circulated in a section of social and other media about the change in the con...
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Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements
Announcement on Applicability of ‘Implementation Guide on Resignation/ Withdrawal from an Engagement to Perform Audit of Financial Statements’ to Statutory Auditors of Listed Entities and their Materi...
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List of CGST nodal officers for IT Grievance Redressal
IT Grievance Redressal mechanism inter alia envisages that taxpayers shall make an application to the field officers or the nodal officers where there was a demonstrable glitch on the Common Portal in...
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Govt finalises 34.46 Lakh GST Refund Application till 02.12.2019
Ministry of FinanceGoods & Services Tax refundPosted On: 10 DEC 2019 5:41PM by PIB DelhiA number of companies applied for a Goods & Services Tax (GST) refund since the introduction of the tax regime....
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Sanctioned for prosecution given to 366 cases in violation of CSR norms
Ministry of Corporate AffairsPosted On: 10 DEC 2019 5:38 PM by PIB DelhiWhenever any violation of Corporate Social Responsibility (CSR) provisions is reported, action against such non-compliant Compan...
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SFIO’s prepares 55 reports on fraud & misappropriation by Companies
Ministry of Corporate AffairsSFIO’s Market Research Analysis Unit prepares 55 reports on fraud & misappropriation by Companies; SFIO assigned 12 for probePosted On: 09 DEC 2019 4:38PM by PIB DelhiDuri...
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Government amended IEPFA Rules, 2016 to simplify refund of claims
Ministry of Corporate AffairsPosted On: 09 DEC 2019 4:39PM by PIB DelhiThe Investor Education & Protection Fund (Accounting, Audit, Transfer and Refund) Rules 2016 have been amended vide GSR No.571 (E...
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ICAI debars an examiner for evaluating answer books while travelling in Bus/Tram
It has come to the notice of the Institute that an examiner was evaluating standard sample answer books while travelling in a bus/tram.The Institute has instructed all its examiners to not to evaluate...
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Government designates Special Court under Black Money Law
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)(Investigation Division-V)Notification No. 102/2019-Income TaxNew Delhi, the 4th December, 2019S.O. 4344(E)—In exercise of the...
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8000 taxpayers file returns in 4 days of blocking of eway bill
PRESS RELEASEBlocking of e way bill on non-tiling of GST Returns has been implemented from November 28th, 2019, The NIC Karnataka in association with GSTN has developed a module in eway bill system. w...
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INSOLVENCY AND BANKRUPTCY BOARD OF INDIA - Teaching experience cannot be classified as experience in management for IP Registration
One needs to discern the predominant nature of duties of a person to determine, if he is having experience in management. Coming to the role of manager vis-à-vis teaching professional, it may be noted...
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Income Tax search on Share Brokers unearths Illegal Gain of Rs. 5500 Crore
Ministry of FinanceIncome Tax Department conducts search & survey operations on Share Brokers/Traders across IndiaPosted On: 07 DEC 2019 6:49PM by PIB DelhiOn 3rd December 2019, the Income Tax Departm...
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MOS Finance: DRI must employ new-age technology to fight smuggling networks
Ministry of FinancePosted On: 04 DEC 2019Shri Anurag Thakur, Minister of State for Finance & Corporate Affairs, said that sharing information, using data analytics and usage of non-intrusive technolog...
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Fund Manager Regime | Section 9A | Draft Rules for Comments
F No 142/15/2015-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 5th December, 2019Subject: Framing of rules with respect of Fund Manager Regime u...
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18,782 cases filed under Insolvency & Bankruptcy Code
Ministry of Corporate Affairs18,782 cases filed under Insolvency & Bankruptcy CodePosted On: 03 DEC 2019 4:20PM by PIB DelhiAs on 30th June, 2019, a total of 18,782 cases have been filed under Insolve...
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3 New Functionalities on registration on GST Portal
1. Taxpayers can now see all the GSTINs mapped to same PAN across India, at the time of filing the Part A of the registration application form for new registration, on same PAN.2. Taxpayers applying f...