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CBDT notifies Faceless Assessment Scheme on 13th August 2020

S.O. 2746(E). —In exercise of the powers conferred by sub-section (3B) of section 143 of the Income-tax Act, 1961 (43 of 1961), the Central Government...

Clarification on existing Entrepreneurs Memorandum, Udyog Aadhaar Memorandum and New Udyam Registration

This refers to Notification No. S.O. 2119(E) dated 26.06.2020 issued by Ministry of Micro, Small & Medium Enterprises(MSME) regarding criteria for the classification of enterprises...

CBDT Releases Guidance on Mutual Agreement Procedure

India has a large network of Double Taxation Avoidance Agreements (‘DTAAs’ or ‘Tax Treaties’, hereinafter) with various countries. The DTAAs, inter-alia, provide rules and mechanisms...

Plea seeking to direct ICMAI to not use acronym “ICAI” dismissed

The Appellant is a qualified chartered accountant and member of the third Respondent, namely, the Institute of Chartered Accountants of India (ICAI or CA Institute),...

No bank shall open current accounts who have availed credit facilities in the form of CC/OD

No bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking...

Representation by CAAS on Hardship faced by Taxpayers due to sluggish GST refund process

Greetings from Chartered Accountants Association Surat. As you are now well aware that our Associations works for ensuring best practices in tax compliances vis-à-vis providing...

ICAI released a List of Additional Examination Centres

In continuation to Important Announcement No. 13-CA (EXAM),/N/2020 dated 15th July 2020, while considering the ongoing COVID-19 pandemic and in the interest of the well...

Government working with RBI on Industry’s need for loan restructuring

The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman on 31st July 2020 said that the government is working with RBI on the...

MCA notifies Companies (Indian Accounting Standards) Ind AS Amendment Rules,2020

In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government, in...

Opinion of the Council of the ICMAI on Statutory Audit and eligibility for appointment as Internal Auditors

All public or private companies that are covered under section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules,...


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