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Digital Accounting, Faceless Assessment & March 2020 GST Return
Digital AccountingCOVED-19 gives us a lesson to work from anywhere and not necessarily from fixed office place. Rendering accounting service from anywhere needs transformation of physical accounting s...
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Expert panel formed to address statutory bank branch audits queries
Auditing and Assurance Standards Board – Online Panel of Experts for Addressing Bank Branch Audit Related Queries for Financial Year 2019-20 – (02-05-2020)AUDITING AND ASSURANCE STANDARDS BOARD CONSTI...
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ICAI & ICAI RVO issues Concept Paper on All About Fair Value
Financial reporting in India has undergone a significant transformation owing to the adoption of Indian Accounting Standards (Ind AS) and fair value is the guiding principle in financial reporting acr...
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Draft Guidance Note on Applicability of AS 25 & Measurement of Income Tax Expense for Interim Financial Results
Exposure DraftGuidance Note on Applicability of AS 25 and Measurement of Income Tax Expense for Interim Financial Results(Last date of comments: May 31, 2020)Exposure DraftGuidance Note on Applicabili...
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Draft Guidance Note on Accounting by E-commerce & Cloud Computing Companies
Exposure DraftGuidance Note on Accounting by E-commerce and Cloud Computing Companies(Last date of comments: May 31, 2020)Research CommitteeThe Institute of Chartered Accountants of India(Set up by an...
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Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020
MCA has issued Companies (Appointment and Qualification of Directors) Second Amendment Rules, 2020 which are applicable from 29th April 2020 and by this Registration of details of Independent Director...
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Draft Procedure for Submission of Audit Files to NFRA
File No.NF-20011/3/2020-O/o CGM(AK)Government of IndiaNational Financial Reporting Authority7th Floor, Hindustan Times House,Kasturba Gandhi Marg, New DelhiNo. NF-20011/3/2020Dated. 28.04.2020NOTICESu...
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ICSI Requests MCA for Relaxations from Company Law Compliance
The Institute of Company Secretaries of India (ICSI) on 30th April, 2020 has made a Request to Shri Injeti Srinivas, IAS Secretary Ministry of Corporate Affairs, for relaxations in the provisions of t...
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Guidelines for Funding for Research Studies on Corporate Governance
GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRSNEW DELHI-110 003Phone : 011-24698970, Fax : 24698972NANDITA MISHRAEconomic AdviserD.O. No. 361/4/2020-R&ADated: 29.04.2020Greetings from Ministry of Co...
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Representation to reduce TDS rate on Professional Fees to 2%
A representation is been made to CBDT Chairman by leading accounting and CA Organisations of India and it is been requested that current rate of 10% under section 194J of the Act should be reduced to...
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Conceptual Approach to Board Reporting Framework A Post COVID-19 Corporate Governance Perspective
Conceptual Approach toBoard Reporting FrameworkA Post COVID – 19Corporate Governance PerspectivePrepared by:Management Accounting CommitteeThe Institute of Cost Accountants of India(Statutory body und...
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Discussion Paper Business Combinations—Disclosures, Goodwill & Impairment
Discussion Paper Business Combinations—Disclosures, Goodwill and Impairment issued by the IASB for commentsThe implementation of high quality Indian Accounting Standards (Ind ASs) by Indian Companies...
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ICAI advisory on mentioning fees in Advertisements issued by Members
Institute of Chartered Accountants of IndiaAdvisory on Mentioning Fees in Advertisements issued by Members – (28-04-2020)AdvisoryCertain concerns have been raised by members as to whether it is permis...
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Tax Audit Report- Applicability of Clause 30C & Clause 44 deferred
Tax Audit Report (Form 3CD- Applicability of Clause 30C & Clause 44 deferred till March 31, 2021Central Board of Direct Taxes (CBDT) has issued Circular No. 10/2020 dated April 24, 2020 by which t...
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UIDAI allows Aadhaar updation facility through CSCs
UIDAI allows Aadhaar updation facility through Common Service Centre (CSC)Ministry of Electronics & IT, vide press release 1618913 dated 28th April, 2020 has Announced major relief to Aadhaar holders,...
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Advisory issued by GSTN Portal on filing Form GST PMT-09
Taxpayers deposit money using challan and the paid amount gets credited in the particular head in the Electronic Cash ledger and the same can be utilized in settling liabilities of that head only. In...
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Corrigenda to Income Tax Circular No. 09 of 2020, Dated: 22.04.2020
IT(A)/1/2020-TPLGOVERNMENT OF INDIAMINISTRY OF FINANCEDEPARTMENT OF REVENUECENTRAL BOARD OF DIRECT TAXESNew Delhi, the 27th April, 2020CORRIGENDA TO CIRCULAR NO.9 OF 2020 DATED 22.04.2020In the Circul...
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CBDT deffer GST & GAAR Reporting in Tax Audit Report by one more year
Income Tax Circular No. 10/2020-Income -Regarding reporting requirement under clause 30C and clause 44 of the Form 3CD defers GST & GAAR Reporting in amended Income Tax Audit Report amidst Covid-19.In...
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Guidelines for home quarantine during COVID-19
Government of IndiaMinistry of Health & Family WelfareDirectorate General of Health Services(EMR Division)Guidelines for home quarantineScopeDetection of a travel related/unrelated suspect case of nov...
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Guidelines for Home Isolation of very mild/pre-symptomatic COVID-19 cases
Government of IndiaMinistry of Health & Family WelfareGuidelines for Home Isolation of very mild/pre-symptomatic COVID-19 cases1. ScopeThe present guidelines are in addition to guidelines on appropria...