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GST revenue collection for April 2024 highest ever at Rs 2.10 lakh crore

   01 May 2024 at 17:21

GST collections breach landmark milestone of Rs 2 lakh crore Gross Revenue Records 12.4% y-o-y growth Net Revenue (after refunds) stood at Rs 1.92 lakh crore; 15.5% y-o-y growth

Posted in GST |   129 Views


Businessman Faces One-Year Jail Term for Bounced Cheques to Income Tax Department

   01 May 2024 at 09:03

A recent verdict by a Gandhinagar court has landed Chandkheda resident Mehulkumar Barot in hot water, resulting in a one-year prison sentence.

Posted in Income Tax |   246 Views


ICAI Seeks Tax Incentives for Green Energy Projects in Pre-Budget Proposal

   01 May 2024 at 09:00

The Institute of Chartered Accountants of India (ICAI) has put forth a series of recommendations in its Pre-Budget Memorandum 2024, urging for targeted tax deductions and incentives.

Posted in Professional Resource |   933 Views


Redefining Accountancy in the AI Era: Insights from ICAI President

   01 May 2024 at 08:59

Amidst the dynamic landscape of technological advancements, Artificial Intelligence emerges as a radiant constellation, charting the course towards a future where innovation and technology intersect to redefine human potential.

Posted in Professional Resource |   1539 Views


ICAI Takes Action Against 3 EY Affiliates and Retired Partner for Professional Misconduct

   30 April 2024 at 14:29

ICAI has made a decisive move, passing an order against auditing powerhouse EY's three affiliates and a retired partner, alongside disciplinary action against S V Ghatalia & Associates, LLP, and its partner for "professional misconduct."

Posted in Audit |   2790 Views


ICAI CCM Dhiraj Khandelwal Clarifies On NFRA Order of Rs 1 Crore Penalty

   30 April 2024 at 11:11

In a recent development, CCM Dhiraj Khandelwal has addressed the concerns on 'X' surrounding the NFRA order imposing a significant penalty on Audit Firm M/s Dhiraj & Dheeraj.

Posted in Audit |   12477 Views


Patanjali Foods Faces Show Cause Notice Over Rs 27.46 Crore ITC

   30 April 2024 at 08:53

Patanjali Foods, the renowned firm led by yoga guru Ramdev, finds itself under the radar of the GST intelligence department.

Posted in GST |   2787 Views


ICAI releases Exposure Draft of Guidance Note on Reports on Audit u/s 12A/10(23C)

   30 April 2024 at 08:50

Exposure Draft - 'Guidance Note on Reports on Audit under Section 12A/10(23C) of the Income-tax Act,1961' for Public Comments

Posted in Income Tax |   306 Views


Supreme Court Denies Plea to Postpone CA May 2024 Exams Amid Election Overlap

   29 April 2024 at 12:44

In a landmark decision today, the Supreme Court declined to intervene in a plea seeking to postpone the Chartered Accountancy (CA) exams slated for May 8 and May 14, 2024, citing clashes with election dates on May 7 and May 13.

Posted in Students  2 comments |   4428 Views


NFRA Imposes Rs 1 Crore Monetary Penalty on Audit Firm M/s Dhiraj & Dheeraj

   29 April 2024 at 09:26

Audit Firm M/s Dhiraj & Dheeraj, along with CA Piyush Patni (EP) and CA Pawan Kumar Gupta (EQCR), have been found guilty of professional misconduct.

Posted in Audit |   17712 Views