CAclubindia News

New and revised standards on auditing

19 May 2016 at 10:44

Revised SA 700, Forming an Opinion and Reporting on Financial Statements. New SA 701, Communicating Key Audit Matters in the Independent Auditor�s Report. Revised SA 705, Modifications to the Opinion in the Independent Auditor�s Repo

Posted in Audit | 2 comments | 9819 Views

Total 2891 kg gold collected under Gold Monetisation Scheme

17 May 2016 at 10:50

Finance Ministry reviews the progress of Gold related Schemes; Total gold collected under Gold Monetisation Scheme (GMS) is 2891 kgs; Banks asked to put concerted efforts to mobilize more gold under the GMS in order to achieve the Scheme�s obje

Posted in Others | 4896 Views

The Income Declaration Scheme 2016 to open from 1st June 2016

16 May 2016 at 10:46

The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons who have not declared income correctly in earlier years to come forward and declare such undisclosed income(s).Under the Sch

Posted in LAW | 2 comments | 9060 Views

Pre-MEF Data Verification

14 May 2016 at 10:58

As you are aware, every year, Professional Development hosts an online form popularly known as MEF ie., Multipurpose Empanelment Form at www.meficai.org This year in order, to make the Members aware as to what information is going to flow from Instit

Posted in Others | 4386 Views

Budget session concludes - Over a dozen reform Bills passed

14 May 2016 at 10:58

Budget session concludes ; Session productive, says Minister Shri M.A.Naqvi Government�s outreach to opposition resulting in better functioning of Parliament, says MinisterSittings of Parliament and Bills passed by Lok Sabha over last 2 years

Posted in Others | 3150 Views

Big Boost to Ease of Doing Business- Passing of Bankruptcy Code

13 May 2016 at 10:38

Big Boost to Ease of Doing Business- Passing of Bankruptcy Code; Code is a comprehensive and systemic reform, which will give a quantum leap to the functioning of the credit market and would take India from among relatively weak insolvency regimes to

Posted in Others | 3330 Views

Change in process of Assignments of checkers for exams

13 May 2016 at 10:38

The examination process inter alia includes a procedure of having the answer books checked, after evaluation by examiners, by Checkers to ensure that all answers have been evaluated, marks awarded have been carried forward to the cover page of the an

Posted in Exams | 14 comments | 9888 Views

Indirect tax collection grows by 41.8 percent in April 2016

12 May 2016 at 10:26

Indirect Tax Collections During the month of April 2016 is Rs. 64,394 Crore which is an increase of 41.8% as compared to the collections made in the corresponding Period Last Year (April 2015): Excise Collections Register A Growth of 70.7% while Serv

Posted in Income Tax | 2793 Views

Preparation of Panel of CA and Firms having experience for Forensic Auditing

11 May 2016 at 16:11

Central Bureau of Investigation (CBI) has sought the help of the Institute of Chartered Accountants of India for investigation of important Forensic Audit assignments. Chartered Accountants firms having prior sufficient experience and expertise in fo

Posted in Professional Resource | 4869 Views

Non filing of ITRV for earlier years

11 May 2016 at 11:19

Circular No. 13/2016 : Verification of tax-returns for Assessment Years 2009-2010, 2010-2011, 2011-2012, 2012-2013, 2013-2014 and 2014-2015 through EVC which are pending due to non-filing of ITR-V Form and processing of such retruns To download th

Posted in Income Tax | 2 comments | 9198 Views