Clarification regarding non-inclusion of audits conducted under sections 44AD, 44AE and 44AF in the
Posted Date : 23-Aug-2011 , 05:13:07 pm | Posted By CASANSAAR
In order to clarify the doubt raised by majority of members in respect of inclusion of audits conducted under sections 44AD, 44AE and 44AF of the Income-tax Act, 1961 in the specified number of tax audit assignments, the extracts of Para 6 of Chapter VI “Tax Audit assignments under section 44A...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1424
|
 |
India Inc can soon tap CAs for arbitration services
Posted Date : 19-Aug-2011 , 04:44:23 pm | Posted By CASANSAAR
For corporates faced with commercial disputes, a cost effective mechanism that would also ensure their speedy disposal is on the anvil.
The Institute of Chartered Accountants of India (ICAI) is piloting a new initiative by empanelling its members as arbitrators.
This move could help bring down t...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1039
|
|
ICAI
Posted Date : 17-Aug-2011 , 08:02:48 am | Posted By CASANSAAR
Status of In-charge of Head office or branch of Chartered Accountant Firm
ICAI has considered the issue regarding status of In-charge of a Head Office of a firm of chartered accountants or its Branch Office and clarified that- “A member designated In-charge of an office of a chartered accou...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1091
|
|
ICAI to submit report in Sept on black money
Posted Date : 13-Aug-2011 , 07:39:40 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will submit a report to the Central Board of Direct Taxes (CBDT) next month with its recommendations on tackling issues related to black money.
"A nine-member committee is looking into India's Double Taxation Avoidance Treaty Agreemen...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 754
|
|
CAs should audit social welfare schemes: ICAI
Posted Date : 09-Aug-2011 , 08:21:30 am | Posted By CASANSAAR
The Centre and the state governments must allow certified Chartered Accountants to audit the financial expenses of social welfare schemes and cooperative societies, said G Ramaswamy, president, Institute of Chartered Accountants of India (ICAI).
"We have sent the proposal to respe...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1024
|
|
Announcement of KYC Norms by ICAI
Posted Date : 04-Aug-2011 , 11:16:04 pm | Posted By CASANSAAR
All the members of Institute of Chartered Accountants of India (ICAI), who are in practice, are hereby informed that the Council has formulated the following Know Your Client Norms (KYC norms) at its 307th Meeting held on 13th July, 2011, which shall be recommendatory in nature, and appl...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 2417
|
|
SC asks ICAI to proceed against Satyam auditor after October 3
Posted Date : 01-Aug-2011 , 09:55:45 pm | Posted By CASANSAAR
The Supreme Court today directed accounting regulator ICAI to initiate disciplinary proceedings against Talluri Srinivas, auditor embroiled in the multi-crore Satyam accounting fraud, only after October 3. A bench of Justices D K Jain and A K Ganguly asked the Institute of Chartered Accountants of I...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1047
|
|
ICAI asks govt. to amend Income Tax Act
Posted Date : 30-Jul-2011 , 07:26:40 am | Posted By CASANSAAR
Institute of Charted Accountants of India, ICAI appeal ed the government to amend the Income Tax Act in order to empower Accountants to examine foreign bank accounts closely in black money cases. Briefing reporters in New Delhi on Friday G Ramaswamy, President of ICAI said that an empowered group ha...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1201
|
|
EXPOSURE DRAFT OF TAXONOMY FOR NON-BANKING FINANCIAL COMPANIES (NBFCs)
Posted Date : 29-Jul-2011 , 08:30:49 am | Posted By CASANSAAR
XBRL (eXtensible Business Reporting Language) is a novel way of electronic communication of business and financial data that is of immense utility to the capital markets and the investing community. Those who stand to benefit include all who collect business data, including governments, regulators, ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1137
|
|
ICAI recommends action against auditor
Posted Date : 28-Jul-2011 , 07:20:09 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI), which has been set up by an Act of Parliament, has decided to recommend to the High Court that a member CA R Laxminarayan of C C Chokshi & CO be removed from the Register of Members for one year for professional misconduct.
The ICA...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1841
|
|
ICAI - Handbook on "The Process of E-filing of Income Tax Returns"
Posted Date : 26-Jul-2011 , 07:13:08 am | Posted By CASANSAAR
A Handbook on "The Process of E-filing of Income Tax Returns"
For more detail click here...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1479
|
|
ICAI allows audit firms with limited liability
Posted Date : 19-Jul-2011 , 07:10:37 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has allowed audit firms to convert into limited liability partnership (LLP) firms in a move that could set a trend for consolidation in the space dotted with several small entities.
At the same time, the regulator for chartered accountants has...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1259
|
|
ICAI to submit suggestions on black money by August end
Posted Date : 11-Jul-2011 , 09:01:07 pm | Posted By CASANSAAR
Accounting regulator ICAI today said it will submit to the government, its suggestions on the ways to deal with the menace of black money and retrieving illegal money stashed in tax havens and overseas banks by the end of August. "We (the Committee) have had our first meeting. Right now we are colle...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1023
|
|
CBI arrests an Income Tax Officer and a Chartered Accountant in a bribery case
Posted Date : 09-Jul-2011 , 07:57:30 am | Posted By CASANSAAR
The Central Bureau of Investigation has arrested an Income Tax Officer and a Chartered Accountant, both of Aurangabad for demanding and accepting a bribe of Rs.15,000/- from the complainant.
A complaint was received at CBI, ACB, Pune from the complainant against the ITO Ward (1)(2), Auranga...
Continue Reading...
Category :
ICAI |
Comments :
1 | Hits : 2007
|
|
ICAI to suggest ways to deal with black money
Posted Date : 08-Jul-2011 , 07:37:08 am | Posted By CASANSAAR
As the heat turns on the government on the issue of black money, the Institute of Chartered Accountants of India (ICAI) on Thursday said it would suggest to the finance ministry ways to track and control illicit money.
A committee, consisting of nine members of ICAI’s central council ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1164
|
|
CA institute asked to define
Posted Date : 02-Jul-2011 , 07:27:26 am | Posted By CASANSAAR
The CA institute must delve deep into the concept of “presumptive loss” and look at defining it, Mr K. Rahman Khan, Deputy Chairman of the Rajya Sabha, has suggested.
“Now that the CAG has said that calculating presumptive loss and reporting it was very much within its dom...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1085
|
|
63rd foundation day of the Institute of Chartered Accountants of India (ICAI)
Posted Date : 01-Jul-2011 , 10:14:51 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) today celebrated its 63rd foundation day. It was on this day in 1949 the Chartered Accountants Act was passed by the Parliament. At a function organised in Vigyan Bhawan, New Delhi Shri Rameshwar Thakur, Pas...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1180
|
|
ICAI wants SBI to explain clean-up act
Posted Date : 11-Jun-2011 , 08:25:49 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will write to State Bank of India (SBI) in a week asking the country’s largest commercial bank to explain the high provisioning it made in the fourth quarter of the fiscal 2010-11. SBI’s huge provisioning resulted in a plunge in its ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 893
|
|
Political parties to go corporate as EC mulls accounting rules
Posted Date : 29-May-2011 , 08:36:32 pm | Posted By CASANSAAR
In an effort to curb the use of black money in the electoral process, the Election Commission now plans to ask political parties to conduct their finances in a corporate fashion by getting their accounts audited and publishing their audited finance sheets annually.
The EC has received a hos...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 908
|
|
CCBCAF & SMP initiative for prescribing the Minimum Recommended Scale of Fees for the Professional Assignments done by the Chartered Accountants
Posted Date : 06-May-2011 , 11:25:34 am | Posted By CASANSAAR
The Committee for Capacity Building of CA Firms and Small & Medium Practitioners, ICAI (CCBCAF & SMP) has taken a major initiative for prescribing the Minimum Recommended Scale of Fees for the professional assignments done by our members of ICAI. The recommendation is about the fee to be cha...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1401
|
|
ICAI
Posted Date : 28-Apr-2011 , 11:09:58 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI)’s annual international meet started in Dubai on Thursday. More than 800 delegates from various GCC countries attended the inaugural session of the two-day conference hosted by Dubai chapter of the Institute.
Held under the theme “Wo...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 886
|
|
ICAI plans online knowledge base
Posted Date : 26-Apr-2011 , 11:58:14 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India is all set to start its online facility aimed at enhancing knowledge base and updating the skills of chartered accountants across India.
“To enhance the knowledge base of members and chartered accountancy firms, the ICAI has init...
Continue Reading...
Category :
ICAI |
Comments :
1 | Hits : 1405
|
|
ICAI prepares draft accounting standards for political parties
Posted Date : 21-Apr-2011 , 09:02:51 pm | Posted By CASANSAAR
Accounting regulator Institute of Chartered Accountants of India today said it has prepared draft accounting standards for political parties on a request from the Election Commission. "The council has approved uniform financial statement and accounting and auditing framework for political parties," ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1007
|
|
Icai issues notice to Price Waterhouse
Posted Date : 17-Apr-2011 , 08:50:02 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (Icai) has asked Price Waterhouse (PWC) India to show reasons why it should not be deregistered in regard to its association as auditor to Satyam Computer Services Ltd.
The notice by the institute, which regulates the profession of chartered accou...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 1566
|
|
FinMin, industry to discuss takeover code on Thursday
Posted Date : 17-Apr-2011 , 08:46:29 pm | Posted By CASANSAAR
The finance ministry has called a meeting of industry chambers and chartered accountants on Thursday to seek their views on the revised takeover code that proposes to make acquisitions costlier. It has also called members of the panel that drafted the proposals for the meeting.
The ministry wan...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 889
|
|
ICAI may propose fresh shares for subscribers of overpriced IPOs
Posted Date : 09-Apr-2011 , 11:26:03 pm | Posted By CASANSAAR
Concerned that scores of initial public offerings (IPOs) that hit the market of late appear to have been overpriced, the Institute of Chartered Accountants of India (ICAI) is considering recommending a formula for the companies to compensate their shareholders by doling out fresh shares.
The IC...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 835
|
|
Indian Accounting Firm Is Fined $7.5 Million Over Fraud at Satyam
Posted Date : 06-Apr-2011 , 09:29:52 pm | Posted By CASANSAAR
The Indian affiliate of PricewaterhouseCoopers routinely failed to follow the most basic audit procedures, the United States Securities and Exchange Commission said Tuesday as it penalized the firm for its failed audits of Satyam Computer Services, the Indian company that falsely reported more than ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 777
|
|
Balance sheets of IPLs delayed
Posted Date : 06-Apr-2011 , 09:26:44 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) will take a few more months to submit its report on the balance sheets of eight Indian Premier League (IPL) franchises, amid indications that accounting regulator has stumbled upon violations of auditing norms by some teams in the league.
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 801
|
|
ICAI panel to guide, support cooperative sector
Posted Date : 02-Apr-2011 , 08:19:33 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has formed a committee to guide and support the cooperative sector in streamlining their audit procedures and raise governance levels, President G Ramasamy said today.
The ICAI has suggested replicating the successful laws in the sector in ...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 858
|
|
Suggestions of ICAI Accepted in the Finance Bill, 2011
Posted Date : 26-Mar-2011 , 10:28:27 pm | Posted By CASANSAAR
Direct Tax- Suggestions of ICAI considered in the amendments to Finance Bill, 2011 as passed in the Lok Sabha
Indirect Tax- Suggestions of ICAI considered in the amendments to Finance Bill, 2011 as passed in the Lok Sabha
...
Continue Reading...
Category :
ICAI |
Comments :
0 | Hits : 902
|
|
|
