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Posted Date : 10-Nov-2014 , 08:02:19 am | Posted By CASANSAAR
Chartered accountants’ apex body ICAI has started proceedings against a former Reebok India official for his alleged involvement in the Rs 870 crore scam at the sportswear maker that came to light in 2012. The Rs 870 crore scam was allegedly committed by the company’s former man...
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Posted Date : 08-Nov-2014 , 08:13:51 am | Posted By CASANSAAR
The Enforcement Directorate (ED) today raided the premises of xxxxxxxxxxxxxxxxxx, a Chartered Accountant’s firm at Cuttack Road here in connection with its investigations pertaining to the operations of the Seashore Group of Companies, a major player in the mega chit fund scam in Odisha. &nbs...
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Posted Date : 06-Nov-2014 , 08:27:47 am | Posted By CASANSAAR
Completing its proceedings against errant members involved in Satyam scam of 2009, chartered accountants' apex body ICAI has cancelled their memberships and has imposed a fine of Rs five lakh each against them. In the wake of Satyam scam, disciplinary action was initiated against the concerned ...
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Posted Date : 03-Nov-2014 , 10:27:35 pm | Posted By CASANSAAR
in terms of decision taken by the council at its 337 meeting held during 29th to 31st october, Shri V. Sagar, Joint Secretary is hereby designated as ‘Acting Secretary’ of the Institute w.e.f. 31st October, 2014. subsequent to Shri T.Karthikeyan, Secretary, having been releived...
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Posted Date : 02-Nov-2014 , 09:26:43 pm | Posted By CASANSAAR
The Institute of Chartered Accounts of India is investigating allegations that a chartered account, who figures on the CBI's list of undesirable contact men (UCM), allegedly doctored balance sheets of a company. Sources said it wasn't an isolated instance, but they have been n...
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Posted Date : 30-Oct-2014 , 09:05:16 pm | Posted By CASANSAAR
The Gurgaon police on Monday booked a man for allegedly hacking an income tax returns account of an employee in March this year.The police said Deepak Rao, a resident of Sector 17A, had filed a complaint at the Sector 18 police station, alleging that his password had been changed by an unknown perso...
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Posted Date : 15-Oct-2014 , 05:14:59 pm | Posted By CASANSAAR
Exemption(s) in a paper(s) are granted to candidates of Intermediate and Final examinations, in terms of Regulation 37C(8) and Regulation 38C(6), respectively, of the Chartered Accountants Regulations 1988.The rules in this regard are provided in the Guidance Notes made available to the candidates a...
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Posted Date : 14-Oct-2014 , 08:56:17 am | Posted By CASANSAAR
THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(EXAMINATION DEPARTMENT) In terms of the decision of the Finance Committee of the Institute taken at its 23rd meeting on the recommendations of the Examination Committee, it was decided to charge a sum of Rs.500/- per person as the education verificati...
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Posted Date : 08-Oct-2014 , 09:13:37 pm | Posted By CASANSAAR
The apex body of chartered accountants ICAI is in the process of making changes to the Indian accounting standards as part of efforts to converge with international norms. The government wants companies to adopt the new Indian Accounting Standards (Ind AS) - converged w...
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Posted Date : 01-Oct-2014 , 02:39:27 pm | Posted By CASANSAAR
October 1, 2014 Empanelment of members for the assignment of “Checkers” for CA examinations to be held in November 2014Checking of totaling of marks etc in the answer books of CA examinations, after they have been evaluated by the examiners, is being assigned/carried out by members of t...
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Posted Date : 30-Sep-2014 , 03:12:06 pm | Posted By CASANSAAR
Empanelment of members to act as Observers for CA examinations/Common Proficiency Test (CPT) to be held in November/December 2014ICAI had invited applications from eligible members to undertake the assignment of Observers in the CA examinations/CPT to be held in Nov. 2014 vide announcement dated 29t...
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Posted Date : 19-Sep-2014 , 10:23:41 pm | Posted By CASANSAAR
ATTENTION OF MEMBERSICAI initiative on order dated 20th August, 2014 pronounced by a Bench ofIncome Tax Appellate Tribunal, Mumbai Members are aware of the general remarks against ICAI made by Hon 'ble ITAT Mumbai Bench in respect of its order dated 20th August, 2014 wherein the tax advice gi...
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Posted Date : 09-Sep-2014 , 05:07:24 pm | Posted By CASANSAAR
This Exposure Draft, published by the International Accounting Standards Board (IASB), contains proposed amendments to IAS 12, Income Taxes. The proposed amendments are in response to a request to the IFRS Interpretations Committee (the ‘Interpretations Committee’) to clarify the re...
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Posted Date : 06-Sep-2014 , 09:23:56 am | Posted By CASANSAAR
A Chartered Accountant from Vijayawada allegedly cheated the special court for economic offences here by producing a fake death certificate though he was alive. The court issued a non bailable warrant against him and he was arrested. The CA, Nadella Srinivas Rao had many high flying...
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Posted Date : 05-Sep-2014 , 09:11:11 am | Posted By CASANSAAR
ITAT dismisses Assessee's plea to condone 2984 days delay in filing of appeal, rejects 'Improper Advice' given by CA Firm as ground for Condonation / "Sufficient Delay"; Tribunal taken aback by CA Firm's Affidavit, stating that it had advised Assessee not to file an appeal with ITAT on same...
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Posted Date : 03-Sep-2014 , 08:15:45 am | Posted By CASANSAAR
The Council of the Institute has clarified that the earlier restriction of maximum of 20 partners permitted for firms under section 11 of the Companies act, 1956 is no more applicable to the firms as Section 464 of the Companies Act, 2013 has been notified w.e.f 01.04.2014 wherein sub-section (1) pr...
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Posted Date : 01-Sep-2014 , 08:25:34 am | Posted By CASANSAAR
New Indian Accounting Standards (Ind-AS), being formulated in alignment with International Financial Reporting Standards (IFRS), are likely to be notified by December this year. "We have targeted the completion of amendments to Ind-ASby November 30. It is expected that these would be notified ...
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Posted Date : 28-Aug-2014 , 04:40:39 pm | Posted By CASANSAAR
The Peer Review Board (PRB) with an aim to improving the quality of review has designed a web - format to simplify the system of uploading and updating the details of reviewers online and the same has already been uploaded on the Institute’s website. Data fed in that form will help the Peer Re...
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Posted Date : 26-Aug-2014 , 08:22:34 am | Posted By CASANSAAR
Asking the Chartered Accountants to keep a watch on fiscal transactions to check scams and financial irregularities in the country, Chief Minister Anandiben Patel on Monday said that people have got a wrong perception about chartered accountants helping convert “black money” into “...
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Posted Date : 23-Aug-2014 , 04:38:56 pm | Posted By CASANSAAR
Recalling the words of the Prime Minister Narendra Modi that his government does not believe in a high taxation regime, Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan today said this was possible by maintaining extraordinary integrity, fairness and putting heart and mind in...
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Posted Date : 18-Aug-2014 , 01:04:14 pm | Posted By CASANSAAR
We have no news of release of TAR Utility Schema neither to postpone it so far, hampering tax audit work to a stand still all over India. No Tax audit is possible to be executed since 25th of July, due to CBDT unplanned Notification No. 33/2014 dtd 25.7.2014. This is height of our patience and causi...
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Posted Date : 13-Aug-2014 , 08:02:09 am | Posted By CASANSAAR
In a relief for the the Institute of Chartered Accountants of India (ICAI), the Delhi High Court has stayed an order of the competition watchdog directing a probe against the institute. The Competition Commission of India (CCI) had in February this year passed an order directing its Directo...
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Posted Date : 07-Aug-2014 , 10:27:46 am | Posted By CASANSAAR
A Lot of Professional Colleagues are getting email from ICAI (email@icai.ind.in) to fill the details & send it to jorapur@icai.in. Every one are confused about such emails. ICAI should clarify about such kind of emails Some Questions arises in the Mind... 1. ICAI have all the D...
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Posted Date : 06-Aug-2014 , 08:30:28 am | Posted By CASANSAAR
The government today said last fiscal revenues worth over Rs 153 crore were available with the regional councils of the Institute of Chartered Accountants of India (ICAI), and councils of the Institute of Cost Accountants of India had about Rs 40 crore. These amounts are provisional figures for 201...
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Posted Date : 03-Aug-2014 , 09:34:12 am | Posted By CASANSAAR
J&K Bank held its 76th Annual General Meeting (AGM) here today. Chairman and CEO JK Bank Mushtaq Ahmad speaking on the occasion said the bank during 2013-14, continued with its rapid expansion of multi-delivery channels. He said the bank added a total of 92 business units...
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Posted Date : 02-Aug-2014 , 08:28:54 pm | Posted By CASANSAAR
Central Bureau of Investigation has arrested S K Jain Chairman and Managing Director Syndicate Bank along with five others for allegedly accepting bribe from private companies to extend them credit facilities. The agency had conducted raids across 20 locations in cities ...
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Posted Date : 31-Jul-2014 , 12:56:36 pm | Posted By CASANSAAR
The Central Board of Direct Taxes has through, Income-tax (7th Amendment) Rules, 2014, notified new Forms of tax audit reports namely Form No. 3CA, 3CB and 3CD.The said notification can be downloaded from the link below: https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Notification%20N...
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Posted Date : 31-Jul-2014 , 08:47:13 am | Posted By CASANSAAR
As part of an integrated exercise for introduction of a new Indian Accounting Standard (Ind AS), the Government has initiated moves to put in place a Tax Accounting Standard (TAS) too. The simultaneous exercises, experts told BusinessLine, will avoid confusion in determining taxable co...
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Posted Date : 25-Jul-2014 , 08:41:17 am | Posted By CASANSAAR
A S Durga Prasad has been elected as the new President of the Institute of Cost Accountants of India (ICAI). The members elected P V Bhattad as Vice President of the apex body of cost accountants. Both have been elected for 2014-15 year. Prasad has more than 37 years of exper...
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Posted Date : 22-Jul-2014 , 07:08:23 pm | Posted By CASANSAAR
In respect of “Recognition of seniority of a CA Firm on its conversion to LLP”, the O/o C&AG has informed as under:(a) The LLP firms registered with ICAI only will be considered for empanelment.(b) The seniority of such firms will be maintained as per policy in-vogue based on the poi...
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