The government on Tuesday reassured chartered accountants and lawyers that training unemployed youth to be 'Income Tax Preparers' was not aimed at depriving them of work.
The apex body for accountants, ICAI, on Friday said it will seek explanation from R S Lodha on the structure of his audit firms following a complaint for alleged breach of its Code of Ethics and flouting of Companies Act.
The corporate affairs ministry has asked its field officers to expedite the inspection of the books of Byju's and submit the report, a senior official said on Monday as trouble continues to brew at the edtech firm. The ministry, which is implementing the companies law, will decide the further course of action after receiving the report from its regional office. In July 2023, the ministry had asked the office of the regional director in Hyderabad to conduct an inspection of the company Think & Learn Pvt Ltd, which is registered in Bengaluru.
Finance Minister Nirmala Sitharaman on Saturday unveiled 'transformative' tax reforms that ranged from a simpler income tax law to higher TCS threshold for remittances and income tax benefits for middle class.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Samkit Maniar answers readers' personal income tax queries
ICAI intends to investigate the chartered accountants of PNB but the bank allegedly refuses to give the information sought.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
The Election Commission on Friday virtually made it mandatory for political parties to deposit their funds in banks and not to exceed ceiling limits in financial assistance for candidates to ensure transparency and accountability.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
ICAI has also imposed a fine of Rs 5 lakh on each of the three accused in Satyam case.
The Institute of Chartered Accountants of India will soon ask the International Accounting Standards Board to upgrade India's ranking in terms of compliance with international accounting standards to positive from negative.
rediffGURU Samkit Maniar answers readers' personal income tax queries
Management accountants are the conscious keepers of an organisation, says Charles Tilley, chief executive officer, Chartered Institute of Management Accountants (CIMA), UK. In conversation with Business Standard, he highlights how the profession of a cost accountant has evolved over the years to be known as management accountancy.
Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms.The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny. The auditors concerned were associate firms of international auditing entity PricewaterHouseCoopers.
The leaders also noted the "negative impacts" of the war in Ukraine with regard to global food and energy security, especially for developing and least-developed countries.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
The big four global accountancy firms -- PricewaterhouseCoopers, KPMG, Ernst & Young and Deloitte -- are circumventing laws to provide auditing services in the country, says a report of an Institute of Chartered Accountants of India's committee.
'My parents had no idea what CA is or how difficult it is to crack the exam.'
The Institute of Chartered Accountants of India has declared the dates for its examinations.
Election Commission is considering an overhaul of the accounting practices of parties.
Auditor Deloitte flagged three transactions, including recoveries from a contractor identified in the Hindenburg report, as it issued a qualified opinion on the accounts of Adani Ports & Special Economic Zone.
The issue relates to alleged Rs 870-crore (Rs 8.7-billion) financial fraud at the company last year.
Company balance sheets could soon acquire a new look, with the government asking ICAI to suggest ways to strengthen reporting norms following Satyam Computer Services scandal 7. ICAI sources said the mandate from the government was to ensure that company managements did not use notes to accounts as a cover-up for misdemeanours. The special group will submit its recommendations over the next few weeks.
Shanti Ekambaram, president of consumer banking at Kotak Mahindra Bank, talks about her success mantras, career and money management lessons she learnt, work-life balance for working moms and what India's youth should aspire for.
The ED also alleged that Kejriwal, during his questioning, said AAP communication in-charge Vijay Nair 'did not report to him' but to his cabinet colleagues Atishi and Saurabh Bharadwaj and that his interaction with Nair was 'limited'.
The Institute of Chartered Accountants of India had issued show-cause notice to Bhagat, who sought time till March 31 to give his response.
Mizoram's social structure also contributes to the happiness of its youth. "It is the upbringing that adds to youth being happy or not, we are a casteless society. Also, parental pressure for studies is less here," said Sister Lalrinmawii Khiangte, a teacher of Eben-ezer Boarding School, a private school in the state.
Indian charitable trusts, including Tata Trusts and top corporate donors, are stumped by a new tax law proposed in the Budget, which reduces tax breaks for the donor organisations. The Finance Bill proposes that if a charitable organisation donates to another charity, then only 85 per cent of the donation will be considered as application of income for the donor organisation. Trust officials say this is a major setback for the donor organisations, including corporate foundations and intermediary organisations, which work with various implementing agencies at the grassroots level.
