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i am surprised

Punit Tibrewal (student ) (1684 Points)

10 December 2009

ICAI had made a request to CBDT for extension of due dates of filing of return to 1st oct, 2009 but i am surprised CBDT didnt pay heed to the request...!..(source - .www.icai.org/post.html )

i am literally surprised ....this made me think really hard.....

what does it mean..? ICAI dont have the mere influence to change the due dates when we know that most of the returns are filed by chartered accountants...!.....we boast that CA couse is the premium course in commerce.....i am not denying that

but my point is u will never find involvement of chartered accountants in most of the govt financial regulations ....can i conclude that ICAI really dont have any saying in the Indian Financial system...???

plz give ur valuable comments

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24 Replies

Prabeer (B. COM (H) CA & CS Final) (5484 Points)
Replied 10 December 2009

Mr. Punit Tibrewal its not like that, although I'm not denying the facts raised by you as I too was a bit surprised with the subject matter (I.T. Return filing date) in sep'09.

To be specific ICAI is a regulatory body for Chartered Accountants (Auditors). I think you've understood the facts now.

Punit Tibrewal (student ) (1684 Points)
Replied 10 December 2009

chartered accountants are nt mere auditors ...they r also experts in taxation & law matters....

CA AYUSH AGRAWAL (Kolkata-Pune-Mumbai) (26986 Points)
Replied 10 December 2009

Ya...... Goverment ke upper kuch nahi hai, na ICAI, na Hum , Na TUM.

Punit Tibrewal (student ) (1684 Points)
Replied 10 December 2009

i agree ayush...par Govt icai ki sunta kyu nahi hai...??????????

vijay singhal (article) (299 Points)
Replied 10 December 2009

GOOD POINT ......BUT I LIKE TO KNOW THE REASON SPECIFIED / TAKEN INTO ACCOUNT BY RBI WHILE TAKING DECISION

Rahul Bansal (Finalist) (35929 Points)
Replied 10 December 2009

AGREE WITH PUNIT

Punit Tibrewal (student ) (1684 Points)
Replied 10 December 2009

the country is introducing IFRS, New direct tax code, GST, Companies Bill...etc..

can any1 tell me how much saying ICAI has in these matters...?

The Harshit Aggarwal (B.Com(H) ,CS Final) (5278 Points)
Replied 10 December 2009

Originally posted by :AYUSH AGRAWAL
"	Ya...... Goverment ke upper kuch nahi hai, na ICAI, na Hum , Na TUM.	"

Agree !!

CA. Dashrath Maheshwari (TaXpert) (15090 Points)
Replied 11 December 2009

CBDT is a board having various masterminds with great knowledge and qualification above ICAI president. After discussion they found that there is no need to Change the date.

Actually, we also can think, what is the need to change the date in present electo-techno era.

One can easily make-out books of accounts within a month or by-month in computer-era. However, CBDT already given dates of canicule.

But, its not like that, Govt. is hearing enough to the ICAI, even all the accounting standards etc. issued by ICAI, are being accepted by the govt. bodies and corporates.

There are many more things, which are being accepted , with or without modification.

ICAI है इसका मतलब ये नही की हमारी हर बात मानी जाए.

3 Like

CA. ANKUR JAIN (CA.....) (2800 Points)
Replied 11 December 2009

Agrrrrreeeeeeeeee with DM sir!!!

CA Mani (Credit Analyst) (2809 Points)
Replied 11 December 2009

Agreed with DM

CA Harish Suwalka (Chartered Accountant ( Bhilwara )) (4125 Points)
Replied 11 December 2009

I think ICAI can only give suggestion to cbdt but it can't force them to apply the suggestions

(Guest)

The CBDT is trying to implement the best available thoughts. ICAI should not make an issue for this. If CBDT agree with ICAI to extend the date, nothing will change. All of our corporate sector has develop the 11th hrs work attitude.

I think in this computer era the period of 6 months from end of financial year is enough. No need to change the last date

Krunal Raichura (Financial Advisory) (2134 Points)
Replied 11 December 2009

CBDT had extended due date of filing returns for Pune, Kolhapur and Sangli tax payers by one month. This was due to the disruption caused because of Swine Flu.

I am happy to inform you that Mr. Arun Giri, CA, had himself visited Delhi and requested the CBDT to grant extension for the above constituency. On his request and considering the need of it, the extension was granted.

I agree to Mr. Maheshwari, its true that government cannot (and should not) listen to everything that ICAI says.

ICAI's role I believe is well defined and it cannot interfere in the matters of government, regulations.