ICAI relaxes study period for students appearing in May 2022 Intermediate Exam

Relaxation in Study Period for students appearing in May, 2022 Intermediate Examination after passing July, 2021 Foundation Examination

ICAI has given relaxation in study period for students who are appearing in May, 2022 Intermediate Examination after passing July, 2021 Foundation Examination

Students who have cleared July, 2021 Foundation Examination are required to register in Intermediate Course till November 1, 2021 in order to appear in May, 2022 Intermediate Examination

As per ICAI Announcement, in order to remove hardship caused to the students due to postponement of May, 2021 Foundation Examination, it has been decided that such students are allowed to appear in the Intermediate Examination to be held in May, 2022 after completion of six months Study Period in place of eight months Study Period.

• Penalty u/s 271B for unfilled column 40 in Tax Audit Report Form 3CD deleted by ITAT
• Merely ex-parte rectifying computation without amending assessment order not make it nullity- ITAT
• Once assessee discharges primary onus, it shifts to AO to bring evidence to contrary – ITAT
• Cost Inflation Index for FY/Tax Year 2026-27 notified by CBDT. See Up-to-date Table of CII
• Power of CIT(A) u/s 251(1)(a) to remand case can be exercised only in best judgment assessment