Category: ICAI

Feedback on Income-tax Arrear Demand Verification Portal invited by ICAI to identify problem areas/issues in the facility at incometaxindiaefiling website

Feedback on Income-tax Arrear Demand Verification Portal invited by ICAI ICAI Announcment The Income Tax Department has launched an “Arrear Demand Verification Portal at https://incometaxindiaefiling.gov.in/ which can be accessed by the assessees with their respective user-id. This portal provides various options in the assessee’s dashboard for settling/modifying the …

ICAI Motto Song- Suggestions invited for Recomposition

ICAI Motto Song- Suggestions invited for Recomposition Dear Colleague The “ICAI Motto Song” played during all important events of ICAI is a source of inspiration for the CA fraternity and has a grand meaning that encourages us all to stay alert, dynamic while retaining the long cherished ideals of ‘Excellence, Independence, Integrity’ which …

ICAI-Amended MCA Accounting Standards applicable for accounting periods commencing on/after publication of notification in official Gazette.

ICAI Announcement Applicability of Accounting Standards amended by MCA vide Notification dated March 30, 2016 1.   The Ministry of Corporate Affairs, Government of India, vide Notification No. G.S.R. 739(E), dated 7th December, 2006, notified Companies (Accounting Standards) Rules 2006, in the Official Gazette Rule 1, sub-rule (2), provided that …

ICAI Guidance Note on CARO 2016

Companies (Auditor’s Report) Order, 2016 (CARO 2016) issued by the Ministry of Corporate Affairs (MCA) is applicable for audits of financial statements for periods beginning on or after 1st April 2015 (FY 2015-16) The new reporting requirements of CARO 2016 are distinguished and from earlier CARO Orders.  ICAI has come up …

ICAI guidelines-Chartered accountants responding to tenders for exclusive CA practice areas shall be liable for disciplinary action

ICAI has issued the following guidelines whereby any chartered accountant member responding to an exclusive areas of practice (like audit and attestation) shall be liable for disciplinary action. Council Affairs 4th April, 2016 ANNOUNCEMENT – RESPONDING TO TENDERS The matter pertaining to responding to tenders issued by various users of professional …