No bar on acceptance of more than 15% fees from a single client by chartered accountants – ICAI Clarifies that only requirement is of disclosure ICAI Announcement Sub. : Clarification on Fees from a single client As the members are aware, the revised Code of Ethics will come …

ICAI Guidance Note and FAQ on Going Concern Key Considerations for Auditors amid COVID-19.  The going concern concept is a fundamental principle of accounting. It assumes that an entity will remain in business for the foreseeable future.  An entity is assumed to be a going concern in the absence …

No adverse Income Tax notice to be issued to taxpayers during April-June 2020 – CBDT issues its Interim Central Action Plan 2020-21  Amidst the nation-wide lockdown, CBDT has issued its Central Action Plan (CAP) for the first quarter (April 2020 to June 2020) for the Financial Year 2020-21. …

Submission of scanned copy Pre-shipment Inspection Certificate for customs clearance of metal scrap and waste imports   Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade   Dated: 6th May 2020 TRADE NOTICE No. 9 /2020-2021 To1. Customs Commissionerates 2. Regional …

Govt increases maturity period of KVP, reduces maturity value of NSC VIII issue & National  Savings Recurring Deposit Scheme, interest rates of National Savings (Monthly Income Account) Scheme also reduced The Govt has increased the maturity periods of various popular savings schemes of common man namely; (i) Kisan …

CBDT gives relief on residency provisions due to lockdown & suspension of international flights Govt has granted relief on residency status to NRIs/foreign visitors whose stay in India got prolonged due to lockdown.  Further, as per tweet by CBDT, Circular for determining the residential status in such cases …