Study Group for Examining the Desirability and Feasibility of having a New Financial Year - ICAI
PrintListen to this Article
Madam/Dear Sir,
The Direct Taxes Committee at its 53rd meeting held on 30th August, 2016, while considering an item `Constitution of a Committee by the Government of India to examine the desirability and feasibility of having a new Financial Year’, decided to request the President, ICAI to constitute a Study Group for examining the desirability and feasibility of having a new financial year and giving recommendation to the Council with regard to inputs to be given to the Committee formed by the Ministry of Finance for the said purpose. The Committee also recommended that the group should comprise of Central Council members preferably from Research Committee, Accounting Standards Board, Auditing & Assurance Standards Board, Indirect Taxes Committee, Corporate Laws & Corporate Governance Committee, Direct Taxes Committee and Committee on Accounting Standards for Local Bodies.
On a request made by Secretary, Direct Taxes Committee to the President to constitute the Group, the President, in the authority given to him by the Council at its 351st meeting held on 12th February, 2016, has constituted the said group. The composition of the same is as under:-
CA. Naveen N.D. Gupta, Chairman, Direct Taxes Committee (Convenor)
CA. Sanjiv Kumar Chaudhary, Chairman, Research Committee
CA. Shiwaji B. Zaware, Chairman, Accounting Standards Board
CA. Shyam Lal Agarwal, Chairman, Auditing & Assurance Standards Board and Committee on Accounting Standards for Local Bodies
CA. Madhukar N. Hiregange, Chairman, Indirect Taxes Committee
CA. Dhinal Ashvinbhai Shah, Chairman, Corporate Laws & Corporate Governance Committee.
CA. Kuldeep Vashisht, Secretary, Direct Taxes Committee would act as Secretary to the aforesaid Group.
Since the inputs of the ICAI are to be submitted to the said Committee of the Ministry of Finance by 30th September, 2016, after due consideration by the Council at its 359th meeting to be held on 16th and 17th September, 2016 at Noida, the Group is required to submit its report positively before 15th September, 2016.
Yours faithfully,
( V. Sagar )
Secretary
Category : ICAI | Comments : 0 | Hits : 454
The CA Institute has proceeded and notified its revised exam dates (announced on March 19) for the intermediate course examination and final examination despite a pending Supreme Court hearing slated for April 29 on postponement plea filed by some CA Students. An ICAI notification—gazetted on April 25 —showed that the intermediate course exams will be held on May 3, 5 & 9 (Group I) and May 11, 15 and 17 (Group II). The final exams are scheduled for May 2, 4 and 8 (Group ...
The Institute of Chartered Accountants of India (ICAI) has found gross negligence by edtech firm Byju's auditors, ICAI president Ranjeet Kumar Agarwal said on Wednesday. "Our inspection has found gross negligence on accounting practices by individual auditors of Byju's and accordingly we have recommended to the Financial Reporting Review Board (FRRB) to take punitive actions on auditors concerned," Agarwal told news agency PTI. Agarwal said, "The FRRB wil...
The Enforcement Directorate (ED) raided premises linked to Delhi Chief Minister Arvind Kejriwal’s personal secretary Bibhav Kumar, and Aam Aadmi Party (AAP) Rajya Sabha MP, Past President of ICAI Sh.ND Gupta in connection with a money laundering probe related to the Jal Board case. The central probe agency had last month arrested Jagdish Kumar Arora, the former chief engineer of the Delhi Jal Board. The probe agency claims that Arora awarded a contract worth Rs 38 crore to NKG Infrastru...
A bench of justice Bharav D Karia had observed that the activity of a CA includes that of accounting, auditing, refereeing, receivers, arbitrators and special commissioners as prescribed by the ICAI to be carried out on-premises and at places of managing partner may determine The Gujarat high court has ruled that a Chartered Accountancy (CA) firm should be classified as a professional establishment rather than a shop, commercial or retail entity and as a result, its employees are deemed ineli...
Notice Sent to Kumar Vishwas by Advocate (CA) Dr. Suneel Maggo for his Derogatory Remarks against Professionals (Chartered Accountants and Company Secretaries). We had discussed the matter with Advocate Suneel Maggo and the same has been uploaded on the youtube but on the pressure of Kumar Vishwas, Video has been removed 2 times. In his notice to Kumar Vishwas, He asked for Sorry to the Professional else Next Defemation Notice to Kumar Vishwas for his Derogatory Remarks against Chartered A...
Comments