The most comprehensive news portal for Chartered Accountants and Other Professionals around the world.
Saturday, June 13, 2020
Friday, June 12, 2020
‘Postpone Examinations Till November’, demand ICAI Students on twitter
With less than two months to go, anxiety is looming large among
lakhs of candidates appearing for CA July 2020 exams due to the
corona-virus pandemic and the subsequent lockdown, which they say has
derailed their preparations.
While many state education board postponing the exams, CA students demanded that the ICAI July
While many state education board postponing the exams, CA students demanded that the ICAI July
Parotta and roti are separate: Authority for Advance Rulings' Karnata bench hence different GST rates applicable to both
If you like your parotta, you are not going to like what's coming.
As per a recent rule by the Authority for Advance Rulings' Karnata bench, parotta and roti are separate. Distinguishing between the two Indian varieties of shortbread, the GST ruling said that
As per a recent rule by the Authority for Advance Rulings' Karnata bench, parotta and roti are separate. Distinguishing between the two Indian varieties of shortbread, the GST ruling said that
EOW arrests Congress MLC and Chairman of Shivajirao Bhosale Co-op Bank based on FIR filed by Chartered Accountant appointed as RBI Auditor
PUNE: The city police’s economic offences wing recently filed a chargesheet against Nationalist Congress Party’s sitting MLC Anil Bhosale and three other accused, pegging the total embezzlement
RBI asks SBI to appoint a qualified chartered accountant as CFO whose estimated package is Rs.1 crore
The Reserve Bank of India (RBI) has asked State Bank of India (SBI) to
appoint a qualified chartered accountant (CA), with relevant experience,
as its chief financial officer (CFO). At present, SBI does not have a
CA in its top ranks — deputy managing director (DMD) or chief general
manager.
A senior SBI executive said due to the central bank's directive, the bank has decided to opt for an
A senior SBI executive said due to the central bank's directive, the bank has decided to opt for an
Friday, May 29, 2020
Will ICAI be able to conduct exams in July
Thank fully ICAI is taking all efforts to conduct examinations on revised schedule but the fact remains that situation is way away from normal. The ground reality is many states have started converting schools and colleges into quarantine centres due to increasing spread of covid 19. So obvious question arises is as to how institute proposes to conduct exams in these states where
Thursday, May 21, 2020
Whatsapp can be used for virtual hearing by GST and Excise Authorities says CBIC
Virtual hearing of all demand notices relating to indirect taxes including goods and services tax (GST) can be done through Whatsapp, authorities in Thane tax zone said a notice while issuing
GST applicable on Director's Remuneration
Goods and services tax authorities in some states have sent notices to companies seeking information about the remuneration
of directors and the tax paid on them. This comes as only a few
companies have started operations following the staggered opening up of
the nationwide lockdown to counter
Friday, May 8, 2020
Free Online Revision classes for CA Final, Inter & Foundation
*Revision classes for CA Final, Inter & Foundation (no fees)*
1.) *International Tax Course* starting from *9th May 6PM* 8 weekends, 16 classes, 1.5 hours each, Practical Experience
Course coverage:- Basic to Best
1.) *International Tax Course* starting from *9th May 6PM* 8 weekends, 16 classes, 1.5 hours each, Practical Experience
Course coverage:- Basic to Best
Saturday, May 2, 2020
Friday, May 1, 2020
Tuesday, April 21, 2020
Is India economic super power in making with unprecedented fall in crude oil prices
Huge savings in freight cost and yes this will be kind of permanent savings to most of the extent. Why permanent? With electric vehicles penetration in passenger and goods vehicle oil demand was anyways falling nine pins with point of no return. India can reap benefits out of this opportunity like never before. Freight cost is the major cost for all industries especially manufacturing. Take any
Sunday, April 12, 2020
Contribution to PM CARES Fund qualifies as CSR expenditure, Contribution to CM’s Relief Fund does not: MCA
Ministry of Corporate Affairs, Government of India has clarified that a contribution made to ‘PM CARES Fund’ shall qualify as CSR expenditure under Item No viii of Schedule
Saturday, April 11, 2020
CANeWsBeta*- Monthly Top Commentator Contest win Rs.1000/- p.m
Seasons Greetings to all our viewers!
CANeWsBeta is happy to announce Top Commentator Monthly Contest. Now win Rs.1000 talktime or recharge of utility bills or DTH services by just commenting on the our news articles at :https://canewsbeta.blogspot.com/
Terms & Conditions of the contest:
Friday, April 10, 2020
How to withdraw from EPF if you need money due to coronavirus
The government has recently amended the EPF withdrawal rules which
allow an EPF member to withdraw money in case of emergency due to
COVID-19.
The government announced last week that you can withdraw a certain amount from your Employees' Provident Fund (EPF) corpus, if you are facing financial problems due to the coronavirus-related
The government announced last week that you can withdraw a certain amount from your Employees' Provident Fund (EPF) corpus, if you are facing financial problems due to the coronavirus-related
Vacancy for CA in P&G
Description
About Procter & Gamble:
Procter & Gamble is one of the largest FMCG (Fast Moving Consumer Goods) company in the world with strong brands like Pampers, Ariel, Always, Gillette and Oral B just to name a few. For more
Notice Inviting Expression of Interest for engagement of Chartered Accountants Firms for Statutory Audit of various units of the Institute of Chartered Accountants of India (ICAI) for the financial year 2020-21.
-
Apr, 15 2020
-
The Institute of Chartered Accountants of India, Multi Location, Multi State
Notice Inviting Expression of Interest for engagement of Chartered Accountants Firms for Statutory Audit of various units of the Institute of Chartered Accountants of India (ICAI) for the financial year 2020-21.
Address :
Notice Inviting Expression of Interest for engagement of Chartered Accountant Firms for Internal Audit of various units of the Institute of Chartered Accountants of India (ICAI) for the financial year 2020-21.
-
Apr, 15 2020
-
The Institute of Chartered Accountants of India, Multi Location, Multi State
Notice Inviting Expression of Interest for engagement of Chartered Accountant Firms for Internal Audit of various units of the Institute of Chartered Accountants of India (ICAI) for the financial year 2020-21.
Address :
Tender for chartered accountant services for Nathdawara Temple Board
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Apr, 15 2020
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Nathdawara Temple Board, Nathdwara Rajasthan
Tender for chartered accountant on retainer ship.
Address :
Tuesday, April 7, 2020
ICAI: Standard 12 Students Can Provisionally Register For CA Course
| Announcement |
| 5th April 2020 |
|
Sub: Allowing provisional registration in the
Foundation Course of Institute of Chartered Accountants of India (ICAI)
for students who have been allotted either admit card and/or appeared
in one or more papers of Class XII examinations
Due to the outbreak of the COVID -19 pandemic, the CBSE/ICSE/State Boards have postponed Class 12th Board examinations that were to be held from 19th March 2020 and onwards. In view of above, such candidates who are not able to register themselves in the Foundation due to non-appearance in all papers of class 12th Examination, the Competent Authority has decided to relax the eligibility criteria for registering in Foundation Course, as a one-time measure, which is as |
Monday, April 6, 2020
Request for Proposal (RfP) for Appointment of Chartered Accountant firm / LLP / company for Handling Direct Tax matters of DICGC for FY 2020-2021
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Apr, 07 2020Request for Proposal (RfP) for Appointment of Chartered Accountant firm / LLP / company for Handling Direct Tax matters of DICGC for FY 2020-2021
Address :
Statewise official Active Covid-19/Coronavirus cases in India as on 6/4/2020 9 a.m alongwith detailed analysis of statewise increase/decrease
| S. No. | Name of State / UT | Total Confirmed cases (Including 66 foreign Nationals) | Cured/Discharged/ Migrated |
Death |
|---|---|---|---|---|
| 1 | Andhra Pradesh | 226 | 1 | 3 |
| 2 | Andaman and Nicobar Islands | 10 | 0 | 0 |
| 3 | Arunachal Pradesh | 1 | 0 | 0 |
| 4 | Assam | 26 | 0 | 0 |
| 5 | Bihar | 30 | 0 | 1 |
| 6 | Chandigarh | 18 | 0 | 0 |
| 7 | Chhattisgarh | 9 | 3 | 0 |
| 8 | Delhi | 503 | 18 | 7 |
| 9 | Goa | 7 | 0 | 0 |
| 10 | Gujarat | 122 | 18 | 11 |
| 11 | Haryana | 84 | 25 | 1 |
| 12 | Himachal Pradesh | 13 | 1 | 1 |
| 13 | Jammu and Kashmir | 106 | 4 | 2 |
| 14 | Jharkhand | 3 | 0 | 0 |
| 15 | Karnataka | 151 | 12 | 4 |
| 16 | Kerala | 314 | 55 | 2 |
| 17 | Ladakh | 14 | 10 | 0 |
| 18 | Madhya Pradesh | 165 | 0 | 9 |
| 19 | Maharashtra | 690 | 42 | 45 |
| 20 | Manipur | 2 | 0 | 0 |
| 21 | Mizoram | 1 | 0 | 0 |
| 22 | Odisha | 21 | 2 | 0 |
| 23 | Puducherry | 5 | 1 | 0 |
| 24 | Punjab | 68 | 4 | 6 |
| 25 | Rajasthan | 253 | 21 | 0 |
| 26 | Tamil Nadu | 571 | 8 | 5 |
| 27 | Telengana | 321 | 34 | 7 |
| 28 | Uttarakhand | 26 | 4 | 0 |
| 29 | Uttar Pradesh | 227 | 19 | 2 |
| 30 | West Bengal | 80 | 10 | 3 |
| Total number of confirmed cases in India | 4067* | 292 | 109 | |
| *States wise distribution is subject to further verification and reconciliation | ||||
Total rise of 472 cases in India compared to 5/4/2020. Also see status as on 5/4/2020 click here
Total average percentage increase across India of 20.54% in a day.
There is reduction in percentage increase of cases in following states compared to 5/4/2020 ie in 24 hrs:
Sunday, April 5, 2020
Saturday, April 4, 2020
Statewise official Active Covid-19/Coronavirus cases in India as on 5/4/2020 9 a.m alongwith detailed analysis of statewise increase/decrease
| S. No. | Name of State / UT | Total Confirmed cases (Including 65 foreign Nationals) | Cured/Discharged/ Migrated |
Death |
|---|---|---|---|---|
| 1 | Andhra Pradesh | 161 | 1 | 1 |
| 2 | Andaman and Nicobar Islands | 10 | 0 | 0 |
| 3 | Arunachal Pradesh | 1 | 0 | 0 |
| 4 | Assam | 24 | 0 | 0 |
| 5 | Bihar | 30 | 0 | 1 |
| 6 | Chandigarh | 18 | 0 | 0 |
| 7 | Chhattisgarh | 9 | 3 | 0 |
| 8 | Delhi | 445 | 15 | 6 |
| 9 | Goa | 7 | 0 | 0 |
| 10 | Gujarat | 105 | 14 | 10 |
| 11 | Haryana | 49 | 24 | 0 |
| 12 | Himachal Pradesh | 6 | 1 | 1 |
| 13 | Jammu and Kashmir | 92 | 4 | 2 |
| 14 | Jharkhand | 2 | 0 | 0 |
| 15 | Karnataka | 144 | 12 | 4 |
| 16 | Kerala | 306 | 49 | 2 |
| 17 | Ladakh | 14 | 10 | 0 |
| 18 | Madhya Pradesh | 104 | 0 | 6 |
| 19 | Maharashtra | 490 | 42 | 24 |
| 20 | Manipur | 2 | 0 | 0 |
| 21 | Mizoram | 1 | 0 | 0 |
| 22 | Odisha | 20 | 0 | 0 |
| 23 | Puducherry | 5 | 1 | 0 |
| 24 | Punjab | 57 | 1 | 5 |
| 25 | Rajasthan | 200 | 21 | 0 |
| 26 | Tamil Nadu | 485 | 6 | 3 |
| 27 | Telengana | 269 | 32 | 7 |
| 28 | Uttarakhand | 22 | 2 | 0 |
| 28 | Uttar Pradesh | 227 | 19 | 2 |
| 29 | West Bengal | 69 | 10 | 3 |
| Total number of confirmed cases in India | 3374* | 267 | 77 | |
| *States wise distribution is subject to further verification and reconciliation | ||||
Total rise of 472 cases in India compared to 4/4/2020. Also see status as on 4/4/2020 click here
Total average percentage increase across India of 16.26% in a day.
There is reduction in percentage increase of cases in following states compared to 4/4/2020 ie in 24 hrs:
ICAI should come out with Guidance note on Audit procedures during epidemic to prevent health risk of articles and members
With Lock down nearing completion in India and businesses to resume in staggered manner members and articles will also have to resume audit assignments. In this scenario what is worrisome is the health risk of members and articles who conduct their audits at client places on which they have little control with regard to cleanliness and hygiene. Also reaching client places requires travelling in
Statewise official Active Covid-19/Coronavirus cases in India as on 4/4/2020 9 a.m
COVID-19 Statewise Status Also see status as on 22/3/2020 click here
| S. No. | Name of State / UT | Total Confirmed cases (Including 57 foreign Nationals) | Cured/Discharged/ Migrated |
Death |
|---|---|---|---|---|
| 1 | Andhra Pradesh | 161 | 1 | 1 |
| 2 | Andaman and Nicobar Islands | 10 | 0 | 0 |
| 3 | Arunachal Pradesh | 1 | 0 | 0 |
| 4 | Assam | 24 | 0 | 0 |
| 5 | Bihar | 29 | 0 | 1 |
| 6 | Chandigarh | 18 | 0 | 0 |
| 7 | Chhattisgarh | 9 | 3 | 0 |
| 8 | Delhi | 386 | 8 | 6 |
| 9 | Goa | 6 | 0 | 0 |
| 10 | Gujarat | 95 | 10 | 9 |
| 11 | Haryana | 49 | 24 | 0 |
| 12 | Himachal Pradesh | 6 | 1 | 1 |
| 13 | Jammu and Kashmir | 75 | 3 | 2 |
| 14 | Jharkhand | 2 | 0 | 0 |
| 15 | Karnataka | 128 | 12 | 3 |
| 16 | Kerala | 295 | 41 | 2 |
| 17 | Ladakh | 14 | 3 | 0 |
| 18 | Madhya Pradesh | 104 | 0 | 6 |
| 19 | Maharashtra | 423 | 42 | 19 |
| 20 | Manipur | 2 | 0 | 0 |
| 21 | Mizoram | 1 | 0 | 0 |
| 22 | Odisha | 5 | 0 | 0 |
| 23 | Puducherry | 5 | 1 | 0 |
| 24 | Punjab | 53 | 1 | 5 |
| 25 | Rajasthan | 179 | 3 | 0 |
| 26 | Tamil Nadu | 411 | 6 | 1 |
| 27 | Telengana | 158 | 1 | 7 |
| 28 | Uttarakhand | 16 | 2 | 0 |
| 28 | Uttar Pradesh | 174 | 19 | 2 |
| 29 | West Bengal | 63 | 3 | 3 |
| Total number of confirmed cases in India | 2902 | 184 | 68 | |
ICAI CA Final May 2019 Question Papers with Suggested Answers (Old Course)
| Subject | Question Paper | Suggested Answers |
|---|---|---|
| Paper 1: Financial Reporting | Download | Download |
| Paper 2: Strategic Financial Management | Download | Download |
| Paper 3: Advanced Auditing and Professional Ethics | Download | Download |
| Paper 4: Corporate and Allied Laws | Download | Download |
| Paper 5: Advanced Management Accounting | Download | Download |
| Paper 6: Information Systems Control and Audit | Download | Download |
| Paper 7: Direct Tax Laws | Download | Download |
| Paper 8: Indirect Tax Laws | Download | Download |
Friday, April 3, 2020
Thursday, April 2, 2020
Wednesday, April 1, 2020
Monday, March 30, 2020
Why there cannot be recession in India
Its a fact that there will be no recession in India ever.
In India a child is brought up by teaching him all religious rituals and making him visit religious places regularly and during his school vacations. And thing he is taught religiously is to donate at such religious places either money or in kind. Now you must be wondering how it is connected to recession. Here's how believe it or not on average every earning member in India has sub conscious habit built into him to donate a certain percent of his monthly or new income to religious places as
In India a child is brought up by teaching him all religious rituals and making him visit religious places regularly and during his school vacations. And thing he is taught religiously is to donate at such religious places either money or in kind. Now you must be wondering how it is connected to recession. Here's how believe it or not on average every earning member in India has sub conscious habit built into him to donate a certain percent of his monthly or new income to religious places as
Saturday, March 28, 2020
Friday, March 27, 2020
Thursday, March 26, 2020
Finance Minister covid 19 fiscal package highlights
Finance Minister fiscal package highlights
- Rs.1.72 lac crore fiscal package
- Insurance coverage for all nurses doctors sanitisation workers Rs.50 lac per person
- Under Pm gareeb kalyan scheme 80 crore poor people to get additional 5kgs wheat or rice 1kg pulse for 3 months free of cost.
- Direct transfers to Farmer mnrega jan dhan yojna pensioners Ujwala yojna epfo construction workers
Farmers: 8.69 crore farmers to get 2000 each in April 1st week
Mnrega: wage increase 5crore families Rs. 2000per worker additional benefit
Old age widows disabled : ex gratia 1000 per senior citizens above 60 yrs age in two installments through DBT
Jan dhan women ac holders: ex gratia of 500 pm for 3 months through DBT
Ujwala yojna: bpl families to get free LPG cylinders per month for 3 months to 8 crore
Monday, March 23, 2020
Sunday, March 22, 2020
ICAI: CA May exams on schedule, will analyse the situation in mid-April
An official from the Institute of Chartered Accountants of India
(ICAI), the professional body which conducts the Chartered Accountant
(CA) exams in the country, said the body will analyse the
Statewise official Active COVID-19/Coronavirus cases in India as 22.03.2020
(*including foreign nationals, as on 22.03.2020 at 11:45 AM)
Saturday, March 21, 2020
Surprisingly ICAI/ICSI/ICMA have still not declared postponement of article ship in wake of coronavirus scare
It is indeed surprising that prestigious institutions like ICAI/ICSI/ICMA have still not declared postponement of article ship in wake of current coronavirus scare. This has forces articles to take to
ICAI announces Exemption from Completion of MCS Course & Adv.ITT to appear in Final May 2020 Examination
| Announcement |
|
Exemption from Completion of Management and
Communication Skills Course (MCS Course) & Advanced Information
Technology Training (Adv.ITT) to appear in Final May 2020 Examination
The Council at its meeting held on 20th March,2020 invoked the powers under Regulation 205 of |
Statewise official Active COVID-19/Coronavirus cases in India as 21.03.2020
- Total number of passengers screened at airport : 14,59,993
Total number of Active COVID 2019 cases across India * :
Friday, March 20, 2020
Thursday, March 19, 2020
June CFA Program Exams POSTPONED
From the CFAI
June CFA Program Exams POSTPONED
For the safety of our global community, CFA Institute has made the decision to postpone the June 2020 CFA Exam administration.
Knowing that candidates have spent hours studying and preparing for the June exam, we want to giv
June CFA Program Exams POSTPONED
For the safety of our global community, CFA Institute has made the decision to postpone the June 2020 CFA Exam administration.
Knowing that candidates have spent hours studying and preparing for the June exam, we want to giv
Sebi postponed Q4, FY20 earnings Due date
Mumbai: The Securities and Exchange Board of India (Sebi) on Thursday relaxed certain listing disclosure obligations due to fast-spreading coronavirus pandemic, giving the companies a bit of a breather to compile their results.
Among other things, the markets regulator allowed companies to submit their
Among other things, the markets regulator allowed companies to submit their
Wednesday, March 18, 2020
CPA Canada has cancelled all CPA PEP and Common Final Examination will ICAI and ICSI also follow?
VANCOUVER – Safety concerns over the novel coronavirus are impacting
Canada’s professional education program for aspiring accountants. The
Chartered Professional Accountants of Canada (CPA Canada) has
cancelled all April CPA Professional Education Program (CPA PEP) and CPA
Invitation To Online Tender And Instructions To Tenderers For Appointment Of Firms Of Chartered Accountants
Invitation To Online Tender And
Instructions To Tenderers For Appointment Of Firms Of Chartered
Accountants Empanelled With Comptroller & Auditor General For
Undertaking Internal Audit & Physical Verification In Fci Rajasthan
Region.
Address :
Address :
ICAI postpones Advanced ICITSS- Information Technology Test
| ANNOUNCEMENT |
| 13th March, 2020 |
|
Postponement of Advanced ICITSS- Information Technology Test scheduled to be held on 15th March, 2020.
The Council at its Special Meeting held on 12th March, 2020 has reviewed the Advisory to Regional Councils and Branches, issued on 11th March 2020 regarding avoiding large gathering as |
Tuesday, March 17, 2020
Get ready for biggest bull run history has witnessed till date.
Get ready for biggest bull run history has witnessed till date. Coronavirus has only affected supply chain and not demand chain. Almost all analysts are speaking of adverse effects of supply chain and No one is factoring in the demand chain. Demand for fmcg such as cleaning agents like soaps
Supreme Court says: All AGR dues to be paid, no self-assessment or objections to be entertained
Source: Money control
Vodafone share prices fall by 40% from days high
Hearing the Department of Telecommunications (DoT) plea in regard to the adjusted gross revenue (AGR) case, a bench of the Supreme Court of India on March 18 held that no further objections to its orders would be allowed against payable dues.
In its order, the three-judge bench led by Justice Mishra, and comprising Justices S Abdul Nazeer and MR Shah held that no self-assessment can be done and no further objection would be entertained.
The SC order stated: "No self-assessment can be done and no further objection would be entertained. Actions of telcos are tantamount to seeking to bypass our judgement. All dues as per our judgement
Vodafone share prices fall by 40% from days high
Hearing the Department of Telecommunications (DoT) plea in regard to the adjusted gross revenue (AGR) case, a bench of the Supreme Court of India on March 18 held that no further objections to its orders would be allowed against payable dues.
In its order, the three-judge bench led by Justice Mishra, and comprising Justices S Abdul Nazeer and MR Shah held that no self-assessment can be done and no further objection would be entertained.
The SC order stated: "No self-assessment can be done and no further objection would be entertained. Actions of telcos are tantamount to seeking to bypass our judgement. All dues as per our judgement
Cent Bank Home Finance Ltd Invites Applications For Empanelment As Concurrent Auditors
-
Mar, 18 2020
-
Cent Bank Home Finance Ltd, Bhopal, Madhya Pradesh
Invites Applications For Empanelment As Concurrent Auditors
Address :
Monday, March 16, 2020
Will ICAI and ICSI be able to conduct its examinations as scheduled in May and June 2020?
It may seem to early to ask this question but it is apparent in wake of current situation created by coronavirus in India and world at large
As per latest news many states likes Maharashtra, Delhi, Tamil Nadu have announced closure of all schools, colleges, educational institutions, classes, etc. Maharashtra Govt as per reports has
As per latest news many states likes Maharashtra, Delhi, Tamil Nadu have announced closure of all schools, colleges, educational institutions, classes, etc. Maharashtra Govt as per reports has
Saturday, March 14, 2020
GSTR 9 and 9C due date for FY 2018-19 postponed by GST council
The 39th GST Council took an array of decisions, including an increase in the tax rate on mobile phones
and specified parts to 18 percent from 12 per cent. GST on handmade,
machine-made matchsticks has been rationalised to 12% while GST on MRO
(maintenance repair overhaul) services
Maharashtra Govt orders closure of all accounts in Pvt banks by Mar 31
Mumbai, March 13 (IANS) Cracking the
whip, the Maharashtra government on Friday ordered closing of all
accounts in private and cooperative banks and shifting them to public
sector banks (PSBs).
A notification
to this effect was issued here asking all government departments, state
public sector
Thursday, March 12, 2020
Tuesday, March 10, 2020
Monday, March 9, 2020
Three Infosys employees held for taking bribes from taxpayers
Three Infosys
employees, attached to the Income Tax department's Centralised
Processing Centre here, were arrested for allegedly taking bribes from
tax-payers for speedy processing of their refund, police said on Sunday.
According to police, the key accused among the three was attached to the CPC's data division and
According to police, the key accused among the three was attached to the CPC's data division and
Sunday, March 8, 2020
Thursday, March 5, 2020
Wednesday, March 4, 2020
Tuesday, March 3, 2020
Companies Amendment Rules, 2020- Appointment and Qualification of Directors
MCA vide notification dated 28th February, 2020,
extended the last date for registration of Independent Directors in the
Data Bank of independent director for next two months i.e. within 5
months from 1st December, 2019.
The Central Government therefore prepare the following standards further to alter the Companies (Appointment and Qualification of Directors) Rules, 2014, i.e. .:-
The Central Government therefore prepare the following standards further to alter the Companies (Appointment and Qualification of Directors) Rules, 2014, i.e. .:-
Monday, March 2, 2020
Friday, February 28, 2020
Major key clause wise changes/ Comparison in/of CARO 2020 v CARO 2016
MCA in place of existing the Companies (Auditor Report) Order, 2016 has notified CARO 2020 after consultation with National Financial Reporting Authority (NFRA) constituted under section 132 of the Companies Act, 2013.
Every report made by the auditor under
section 143 of the Companies Act on the accounts of every company
audited by him, to which this Order applies, for the Financial Years commencing on or after the 1st April, 2019, shall contain report on matters specified in paragraphs 3 and 4 of the CARO 2020.
This Order may be called the Companies (Auditor Report) Order, 2020
Applicability: –To every company including a foreign company as defined in clause (42) of section 2 of the Companies Act, 2013 (18 of 2013)
Exception:
(i) A banking company as defined in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949);
(ii) An insurance company as defined under the Insurance Act, 1938 (4 of 1938);
(iii) A company licensed to operate under section 8 of the Companies Act;
Key Changes/Highlights between CARO 2016 and new CARO 2020
| CARO 2016 | CARO 2020 | Nature of Change | ||
| Clause No | Matter | Clause No. | Matter | |
| i (a) | Whether the company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets | i(a)(A) | Whether the company is maintaining proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment; | No Change |
Tally releases new version of software with browser access, to enable GST e-invoicing
Highlights
- This will help entrepreneurs with business information like business reports and invoices.
- The customers remain in custody of their business data, while getting access to it using a simple web browser.
- Tally has about 17 lakh paying customers in India and the company says GST has given it a
Thursday, February 27, 2020
Monday, February 17, 2020
Massive fire breaks out at GST Bhavan
The fire broke out on the 8th floor of the GST Bhavan. At 12:42 pm Mumbai Fire Brigade
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