TRAI releases panel of auditors for audit of Digital Addressable System

 Auditor_list_21102021_0.pdf (trai.gov.in)

Senior citizens will be able to claim over Rs 10,000 as maintenance charge if this Act gets passed in Parliament

New Delhi: With the aim to improve the status of senior citizens in India, the Central government is working on several changes, including the Maintenance and Welfare of Parents and Senior Citizens (Amendment) Bill,

Eight years before the PMC Bank scam was unearthed, a whistle-blower warned RBI about a gigantic fraud.

 

In September 2019, RBI imposed restrictions on the bank after discovering financial irregularities, including under-reporting of bad loans.

Ten days ago, the Reserve Bank of India (RBI) permitted a proposal by financial services firm Centrum Financial Services to take over the troubled Punjab and Maharashtra Co-operative (PMC) Bank. Centrum, along with payment service company BharatPe, is poised to form a small finance bank

Relief to taxpayers, regarding late fee, for delay in filing Form GSTR-3B returns as on 5/6/21

Relief to taxpayers, regarding late fee, for delay in filing Form GSTR-3B returns

05/06/2021

The Government, vide Notification No. 19/2021, dated 1st June, 2021, inter alia, has waived the late fee payable, in excess of amount as specified in the Tables, as given below:

(Note: Please refer to respective State/UT Notifications for waiver of State/UT tax).

Vacancy for Semi qualified/CA Inter in Turner & Townsed

 Company Description

At Turner & Townsend we’re passionate about making the difference. That means delivering better outcomes for our clients, helping our people to realize their potential, and doing our part to create a prosperous society.

Every day we help our major global clients deliver ambitious and highly technical projects, in over 110 offices

Can Introduction of weekly exams be a alternative for ICAI, ICSI and other institutes to conduct exams smoothly - A White Paper

 Currently all institutes ICAI, ICSI and others are carrying out Biannual examinations spanning just little over 30 days in a year for almost over 10 lakh students combined across India and abroad. In earlier years ICAI used to conduct Sunday tests for Intermediate and foundation students for eligibility test only on passing which students could appear Intermediate or foundation or final exams. If the same is applied in current pandemic situation for conducting for eg Foundation, IPCC and Final exams every Sunday it will

CBDT issues circular extending various Income Tax compliance due dates on 25/6/21

Circular_No_12_2021.pdf (incometaxindia.gov.in)

PIL for CA exams postment now listed for 28/6/21 in Supreme Court hearing

 As per SC diary case status the PIL is listed for hearing on 28/6/21. Click here for further details https://main.sci.gov.in/case-status. Dairy No. 13269

NEW RBI Norms for CA – Audit Giants Can’t Continue Their Cosy Arrangements with Private Banks and NBFCs

 

EXECUTIVE SUMMARY. The integrity of audits in private sector banks and non-bank financial companies (including housing finance) has received a major boost, while large global and domestic audit firms have been dealt a body blow by the Reserve Bank of India’s new  guidelines for the

Extension of various Due Dates under Income Tax w.e.f 1st May 2021

 

With 3.50 lakh new Covid positive cases per day in India will ICAI be able to conduct CA exams in May 2021 on schedule?

 Well the situation on ground is very grim with hospitals running out of beds and oxygen in major cities as far as covid virus spread is concerned. The situation is much more worst than in April 2020. The lockdowns than had helped limit the spread but so called second wave of this pandemic has outnumbered the spread by five times what it was last year same time around. 

Students will clearly remember that last year May 2020 attempt had to be cancelled after multiple postponements by ICAI up to August 2020. ICAI than tried to conduct the November 2020 exams on

Clause 44 of Income Tax Audit Form 3CD requiring GST expenditure details made applicable from 1st April 2021