ICAI’s Draft Guidance Note on Transfer Pricing Report u/s 92E of Income Tax
ICAI has released Exposure Draft of Guidance Note on Transfer Pricing Report u/s 92E of the Income-Tax Act, 1961, incorporating amendments made by the Finance Act, 2020.
ICAI Advisory on Certification of CSR Funds Utilisation
ICAI issues Advisory for Members/ Companies to obtain an Independent Practitioner’s Report on Utilisation of CSR Funds, from the auditor/ CA in practice of the third party/ NGO through …
CAG Empanelment for PSU Audits (2020-21) by CA Firms/ LLPs
Status of provisional CAG Empanelment for FY 2020-21 along with score points of applicant CA Firms/LLPs will be available from 28th May 2020 to 4th June 2020 on the …
Schedule VII (CA 2013) amended; PM CARES Fund inserted in CSR Policies Activities
MCA amends Schedule VII to the Companies Act 2013, relating to CSR Policies Activities. Accordingly, the words "Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES …
RBI extends Pre/ Post Shipment Export Credit/ Advance Period from 12 to 15 Months
RBI has notified extension of Period of Advance from 12 months to 15 months in the case of all Pre/ Post Shipment Export Credits disbursed upto 31 July 2020, …
ICAI’s Guidelines for Auditor’s Consideration (COVID-19)
ICAI has issued different Guidelines which prescribes key points/ questions for Auditor's Consideration, like Physical Inventory Verification, Going Concern, Subsequent Events, Auditor's Reporting, Financial Reporting & Auditing of Financial …
ICAI extends Practical Training Commencement Deadline (Nov. 2020 Final Exam)
ICAI extends Practical Training/ Articleship commencement deadline from 31st May 2020 to 31st July 2020 for appearing in November 2020 Final examination, due to lock down in the country …
No Penal Damages for PF Deposit Delays during Lockdown (COVID-19): EPFO
EPFO has provided relief to employers from levy of penal damages for any delay in deposit of PF contribution(s)/ administrative charges due for the period during Lockdown (COVID-19).
Restoration of ICAI Membership/ Certificate of Practice (COP): 2019-20
ICAI has announced a Scheme for “Retrospective Restoration of Membership/ Certificate of Practice (COP)" for the Financial Year 2019-20. Members can apply under this Scheme till 31st May 2020 …
25% Reduction in TDS/ TCS Rates from 14th May 2020 (FY 2020-21)
TDS Rates for non-salary payments and TCS Rates for specified receipts have been reduced by 25% in respect of the remaining period of Financial Year 2020-21 (i.e. during 14th …