ICAI Announced an announcement on 14/05/2020 regarding fake social media pages which are misleading and creating false impression on ICAI. ICAI Announcement is as follows:- Kind Attention: All Members, Students of the Institute of Chartered Accountants of India (ICAI) and Public at Large. This is to inform all the Members and Students of ICAI and […]
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ICAI Mock Test Papers (Series-1) for July 2020 CA Examination
ICAI has announced Mock Test Papers (Series-1) for July 2020 CA Examination on 08/05/2020. This is the first time that ICAI is going to conduct Mock Test LIVE. Board of Studies of ICAI is commencing the Mock Test Papers (Series-1) from May 11 till 27, for July 2020 CA Foundation, IIPC & Intermediate ; Final […]
ICAI is providing 75% Concession in Registration Course Fee
75% Concession in Registration Course Fee for all levels of CA Courses for the Candidates/ Students from Newly formed Union Territories of Jammu & Kashmir and Ladakh and for 8 North-Eastern States. Candidates/Students from newly formed Union Territories of Jammu and Kashmir, Ladakh and 8 North-East States, namely, Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, […]
Draft Regulation to change in CA course registration criteria
ICAI has asked for suggestion for the draft regulation to change in CA registration criteria. Suggestion can be sent on [email protected] by email. Draft Regulations (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2019.(2) They shall come into force on the date of their final publication in the Official Gazette. In the […]
RBI Announces ₹ 50,000 crore Special Liquidity Facility for Mutual Funds (SLF-MF)
RBI Notified on 27th April 2020 Heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom. The stress is, however, confined to the high-risk debt MF segment […]
Never asked for a report, Inquiry being initiated: CBDT
On 26 APR 2020 CBDT Clarified:- The Central Board of Direct Taxes (CBDT) has said today that there is some report circulating on social media regarding suggestions by a few IRS officers on tackling COVID-19 situation. It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report. No […]
Reverse Charge On GST
Normally, seller collects GST from Buyers and pays it to the government. But In some cases buyers pay GST directly to the government. This is called reverse charge on GST. There are two type of reverse charge scenarios provided in law. First is dependent on the nature of supply and/or nature of supplier. This scenario […]
CA Final Risk Management Notes
The new CA Final syllabus has a new introduction of an optional paper where students can choose one from six available options. The examination is designed to be an open book case study examination. Here I am sharing CA Final Risk Management Notes which were issued by ICAI. These CA Final Risk Management Notes are […]
Budget Highlight 2020
60 lakhs new taxpayers added via GST introduction New simplified GST returns from April 2020 FDI elevated during period 2014-2019 to $284bn Central government debt reduced to 48.7% of GDP in 2019 16 points action plan for agricultural & irrigation sector under aspirational India New Education Policy will be announced soon ECB and FDI will […]
President’s Message – November 2019 – (31-10-2019)
My dear Professional Colleagues, Overarching principles like morality, selflessness, ethics and integrity guide every tiny nuance of all spheres of our lives, whether it is social, political, economic or professional. Their importance goes beyond establishing the distinction between right and wrong, instead they form the very foundational structure of our society. Mahatma Gandhi gave us […]