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MCA Year Ender 2023: Transformative Changes in Corporate Governance
Ministry of Corporate Affairs Year Ender 2023: Paving the Path for Progressive Corporate Governance In the dynamic landscape of corporate governance, the Ministry of Corporate Affairs (MCA) has relent...
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CBDT issues guidelines on TDS under section 194-O of Income-tax Act, 1961
Introduction: Circular No. 20 of 2023, issued by the Central Board of Direct Taxes under the Ministry of Finance, provides crucial guidelines under sub-section (4) of section 194-O of the Income-tax A...
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Department of Economic Affairs Year 2023: Achievements & Global Leadership
The Ministry of Finance’s Department of Economic Affairs (DEA) reflects on a transformative year, marking the inception of ‘Amrit Kaal,’ a 25-year journey toward India’s centenary of independence in 2...
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Ministry of Finance Year Ender 2023: Department of Financial Services
In a resounding Year Ender for 2023, the Ministry of Finance reflects on the exceptional accomplishments of the Department of Financial Services (DFS), a driving force behind India’s financial landsca...
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SEBI Considers Amendments to Rumour Verification Regulations
The Securities and Exchange Board of India (SEBI) has recently introduced a Consultation Paper seeking public input on pivotal amendments to its regulations concerning the verification of market rumou...
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CAG: Empanelment of Chartered Accountant firms/LLPs for year 2024-2025
The Professional Development Committee of The Institute of Chartered Accountants of India (ICAI) has announced the empanelment of Chartered Accountant firms/LLPs for the year 2024-2025. This opportuni...
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RBI Guidelines Clarification: Concurrent Audit & SCAs/SAs Appointments
Introduction: The Professional Development Committee at The Institute of Chartered Accountants of India brings an important announcement regarding the clarification of guidelines issued by the Reserve...
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Ministry of Finance Year Ender 2023: Revenue Department Achievements
The Ministry of Finance culminates the year with a comprehensive review of the Department of Revenue’s initiatives in 2023. Under the stewardship of the Central Board of Direct Taxes (CBDT), the Depar...
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CBDT notifies Ravenna Investments Holding B.V as pension fund U/s. 10(23FE)
Introduction: Central Board of Direct Taxes, under the Ministry of Finance, has issued Notification No. 106/2023 dated December 27, 2023, amending provisions related to income tax. This notification s...
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Request to Implement SOP for Timely Disposal of Income Tax Appeals with CIT
Chartered Accountants Association Advocates for Timely Resolution of Income Tax Appeals In a formal communication addressed to the Honorable Minister for Finance, Govt. of India, the Chartered Account...
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Draft CCI (Determination of Turnover or Income) Regulations, 2023
Introduction: The Competition Commission of India (CCI) has issued a call for comments on the draft of the “Competition Commission of India (Determination of Turnover or Income) Regulations, 2023.” Th...
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EPFO SOP on freezing/de-freezing the MID/UAN/Establishment
The Employees’ Provident Fund Organisation (EPFO) ensures the swift provision of social security benefits to members under various schemes. In the pursuit of protecting funds from potential fraud, imp...
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GST Council Newsletter for the month of November 2023
Introduction: The November 2023 GST Council Newsletter (Issue-56) brings pivotal updates on the Goods and Services Tax, including robust growth, amnesty for appeals, and the introduction of biometric...
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Appeal to Stop Unlawful GST Notices on false & unscrutinized grounds
Introduction: The Punjab Accountants Association, representing accounting professionals across the state, addresses a critical concern in a memorandum to the Honourable Finance Minister, Punjab. The a...
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Format for Board resolution to opening a new branch office
ON THE LETTERHEAD OF THE COMPANY EXTRACT OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF M/s _______________ LIMITED HELD ON ______(Date) AT: ______(Time) AT THE REGISTERED OFFICE...
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IFSCA Establishes Expert Committee for Transition Finance Framework
Introduction: The International Financial Services Centres Authority (IFSCA) has taken a monumental step in aligning with the global push for Sustainable Finance. The establishment of an Expert Commit...
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NFRA Inspection 2022: Analysis of Price Waterhouse LLP Audit Compliance
The National Financial Reporting Authority (NFRA) conducted a meticulous audit quality inspection of Price Waterhouse Chartered Accountants LLP in December 2022, in line with Section 132 of the Compan...
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SRBC & Co. LLP Audit Inspection Report 2022: NFRA Findings Revealed
The National Financial Reporting Authority (NFRA), mandated by Section 132 of the Companies Act 2013, plays a pivotal role in monitoring compliance with Auditing Standards and ensuring the quality of...
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Deloitte Haskins & Sells LLP Audit Quality Inspection 2022 Report
Deloitte Haskins & Sells LLP, a prominent audit firm registered under Firm Registration No. 117366W / W-100018, underwent an audit quality inspection initiated by the National Financial Reporting Auth...
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NFRA Inspection Report 2022: Key Observations on B S R & Co. LLP’s Audit Quality
National Financial Reporting Authority (NFRA) conducted a rigorous audit quality inspection of M/s B S R & Co. LLP, a prominent Chartered Accountant firm, mandated under Section 132 of the Companies A...