ICAI clarifies on confusion on eligibility of Category IV Individuals/Proprietor CAs for Bank branch audit The Multipurpose Empanelment Form (MEF) for the year 2021-22 has been hosted and is available at https://meficai.org. Both individuals and proprietor Chartered Accountants in practice are eligible to empanel, as in earlier years. …

Guidelines for Investment and/or Trading in Securities by Employees of AMC(s) and Trustees SEBI had specified the norms for investment/ trading in securities by employees of AMC(s) and Trustees of Mutual Funds. Subsequently, SEBI partially modified it. Now based on the representations SEBI has decided to review the …

Maintenance of current accounts in multiple banks by Stock Brokers Stock brokers may open appropriate no. of current accounts in multiple banks – SEBI SEBI vide circular no. SMD/SED/CIR/93/23321dated November 18, 1993 on “Regulation of Transactions between Clients and Brokers” mandated that all the stock brokers shall keep …

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 …

  CBDT guidelines on eligibility of exemption under clause (23FE) of section 10 of the Income-tax Act, 1961   Central Board of Direct Taxes CBDT has issued Circular No. 19 of 2021 dated 26th October, 2021 giving guidelines under clause (23FE) of section 10 of the Income-tax Act, …

  MCA Relaxed additional fees for delay in filing Form 8 for FY 2020-2021 by LLPs upto 30th December, 2021   Ministry of Corporate Affairs has Relaxed additional fees in case of delay in filing Form 8 (the Statement of Account and Solvency) for the Financial Year 2020-2021 …