ICAI advises chartered accountants to file NFRA-2 for 2018-2019 and also for the year ending 31/03/2020 immediately to avoid penal consequences.
As per Rule 5 of NFRA Rules 2018, the auditors of specified class of companies are required to file an annual return with NFRA in the prescribed form (NFRA-2) on or before 30th November every year.
For the reporting period FY 2018-19, the Government had already allowed extension upto 4th September 2020.
Practicing Chartered Accountants have been advised to file the form NFRA-2 for the FY 2018-19 and FY 2019-20.
Recently NFRA reported that at least 1011 auditors/audit firms have not yet filed form NFRA-2 for the reporting period 2018-19.
In view of the above ICAI has advised chartered accountants to file NFRA-2 for the reporting period 2018-2019 and also for the year ending 31/03/2020, immediately, without any delay, if not filed already to avoid penal consequences.
Mere non-deduction of TDS by the deductor on a transaction does not change the character of the transaction to make…
ICAI has extended the last date to online submit Multipurpose Empanelment Form (MEF)- 2026-27 from 29th August 2026 to 9th…
Can a demand notice be issued u/s 156 for non-payment of Dividend tax u/s 115-O, when as per assessment order…
The issue already examined and adjudicated by the quasi-judicial authority, i.e., CIT(Appeals), cannot be reopened on the same set of…
One TDS is deducted, credit has to follow, failure of deductor to deposit the amount to the credit of the…
Merely because assessee did not explain purpose of cash withdrawal from bank, it can not be taxed u/s 69C as…