Govt approves renewal of MoU between ICAI and CBFS, Oman

  Press Information Bureau Government of India Ministry of Corporate Affairs 10-March-2017 15:50 IST Government approves renewal of the Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the College of Banking and Financial Studies (CBFS), Oman The Government has approved the renewal of the Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and the College of Banking and Financial Studies (CBFS), Oman with the aim of developing a mutually beneficial relationship in the best interest of members, students and the Institutes. It is expected that through this mechanism, an opportunity will be provided to ICAI members to expand their Professional horizons and substantial goodwill be generated for India, Indian Citizens and Indian Chartered Accountants in the Sultanate of Oman

Read More Govt approves renewal of MoU between ICAI and CBFS, Oman

Canada Chapter of ICAI launched helpline for Members

  The Institution of Chartered Accountants of India (Setup by an Act of Parliament) TORONTO CHAPTER Toronto Chapter Launches Helpline for CPA Candidates Canada (Toronto) Chapter of ICAI launched helpline for Members interested for getting CPA Canada membership – (09-03-2017) Greetings! , In continuation of our efforts to help our members acquire CPA designation, we are pleased to inform you that we have launched a helpline platform in this regard. We are very fortunate to have our members Dweep Mehta, Priyanka Baidya, Saoli Chakraborty (recent successful CPA Candidates) who have offered their guidance to members who are interested in pursuing CPA. The CPA Canada helpline will be structured as follows: An email cpahelpline@icaitoronto.com has been created for members to send their inquiries to CPA helpline team at their convenience.The CPA helpline team will monitor and review the

Read More Canada Chapter of ICAI launched helpline for Members

ICAI (Institute of Cost Accountants of India ) to train 15 lakh traders in GST basics

  The Institute of Cost Accountants of India plans to train 15 lakh traders across the country over the next one year in GST basics, according to CMA Manas KR Thakur, National President. Addressing a press conference here, he said, “We were among several other professional bodies who have been assigned this job by the Government.” “There were about 22 lakh indirect tax assessees currently across India. And once GST is implemented, this number will go up to 70 lakh. So, the Government wants us to train traders and new assessees in familiarising them with filling in forms etc. We have commenced training and are creating a pool of trainers who would subsequently train others on the fundamental aspects of the Goods and Services Tax,” informed Thakur. Speaking about ICAI’s

Read More ICAI (Institute of Cost Accountants of India ) to train 15 lakh traders in GST basics

MOCK TEST – ICAI

  With a view to further encourage the students to evaluate their preparation for the examination, the Board of Studies has prepared Mock Test Papers for Intermediate (IPC) and Final Course students to assess their preparation for the main examination to be held in May, 2017. All our Regional Councils and Branches have been advised to conduct Mock Tests under examination conditions and ‘Special Counselling Sessions’ for the benefit of Intermediate (IPC) and Final Course students in the months of March – April, 2017. Students are advised to contact the respective Regional Councils/Branch(es) to ascertain the exact date(s) and venue for the Mock Tests and ‘Special Counselling Sessions’ so as take advantage of the same which will help them to assess their preparation for the main examinations. Director, Board of

Read More MOCK TEST – ICAI

ICAI invites suggestions on Mid Term Review of FTP 2015-20 / SEIS

  Dear Professional Colleague, Sub: Inviting your valuable suggestions/inputs on the Mid Term Review of the Foreign Trade Policy 2015-20 on Services Exports from India Scheme (SEIS). At the outset, with best compliments from us, it is stated that the office is in receipt of a letter from the Ministry of Corporate Affairs seeking ICAI’s suggestions for the Mid-Term Review of the Foreign Trade Policy 2015-20 in order to account for the changes in the circumstances over period and as a measure of mid-term course correction. The Ministry has sought general suggestions and specific recommendations from the Institute on Services Exports from India Scheme (SEIS).Foreign Trade Policy 2015-20 (relevant pages from 60 to 70) and Relevant Annexures are available at http://www.icai.org/post.html?post_id=13365 The Foreign Trade Policy of India directly affects our members and their firms. In view thereof,

Read More ICAI invites suggestions on Mid Term Review of FTP 2015-20 / SEIS

ICAI Invites EOI from CA Firms for Indian Railway Accounting Project

  Inviting expression of interest from eligible Firms of Chartered Accountants ICAI Accounting Research Foundation (ICAI ARF) established by the Institute of Chartered Accountants of India in January, 1999, as a Section 25 Company under the Companies Act, 1956 (now a Section 8 Company under the Companies Act, 2013), for promoting research in the areas of accounting, auditing, capital markets, fiscal policies, monetary policies and other related disciplines. ICAI ARF hereby invites proposals from eligible Chartered Accountant Firms having preferably their Head Office at following places to be associated for handling its upcoming project of Indian Railways for conversion of its books of accounts from hybrid to accrual accounting: RFP No. Zonal Railway Place State Minimum Team Requirement Team Leader Team Member ARF/RFP/Mar 17/01 Central Railway Mumbai Maharashtra 1 5 ARF/RFP/Mar 17/02

Read More ICAI Invites EOI from CA Firms for Indian Railway Accounting Project

ICAI submits Post-Budget Memoranda-2017

  We have noted with great satisfaction that the suggestions given by the Committee in the past have been considered very positively. In formulating our suggestions in regard to the Finance Bill 2017, the Direct Taxes Committee and Committee on International Taxation of the ICAI have considered in a balanced way, the objectives and rationale of the Government and the practical difficulties/hardships faced by taxpayers and professionals in application of the provisions of the Income-tax Act, 1961. We are confident that the suggestions of the Direct Taxes Committee and Committee on International Taxation of ICAI given in this Memorandum shall receive positive consideration. In this memorandum, suggestions on the specific clauses of the Finance Bill, 2017 relating to Income-tax Act have been given in detail. DOWNLOAD/READ FULL MEMORANDA

CPE hour increased to 120 Hours : ICAI

  CPE Hours Requirements for the Block Period of 3 years (1-1-2017 to 31.12.2019) to be complied with by different categories of Members A. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who are residing abroad) are required to: a. Complete at least 120 CPE credit hours in a rolling period of three-years. b. Complete minimum 20 CPE credit hours of structured learning in each calendar year. c. Balance 60 CPE credit hours (minimum 20 CPE credit hours in each calendar year) can be completed either through Structured or Unstructured learning (as per Member’s choice). B. All the members (aged less than 60 years) who are not holding Certificate of Practice; and all the members who are residing abroad (whether

Read More CPE hour increased to 120 Hours : ICAI

Narendra Modi govt hands 34 chartered accountants names to ICAI for money laundering investigation

  The government has shared names of 34 chartered accountants (CAs) with the Institute of Chartered Accountants of India (ICAI) for investigation after the professionals were allegedly found to be involved in money laundering through shell companies during the demonetisation period, ICAI president Nilesh S Vikamsey said on Tuesday. Last week, the government had said it had been found that 559 beneficiaries had laundered nearly Rs 3,900 crore with the help of 54 professionals who have been identified. It had said information was shared with various agencies, including ICAI. The ICAI has started the process of identifying the names given to them, and show-cause notices would be issued to these professionals depending on nature of their involvement. The ICAI chief said if prima facie guilt is established in their investigation,

Read More Narendra Modi govt hands 34 chartered accountants names to ICAI for money laundering investigation

Changes in submission of Examination Forms of ICAI

  Announcement 2nd February 2017 For the attention of candidates of CA examinations Submission of CA Examination Application forms on-line It is hereby informed that sale and submission of physical i.e. OMR examination application forms have been discontinued with effect from May 2017 examination onwards. Henceforth, all candidates will be required to submit examination application forms on-line only at http://icaiexam.icai.org . They will also be required to pay the exam fee on-line. In this connection, candidates are advised to note the following changes made with effect from May 2017 examinations onwards: 1. Final candidates and Direct Entry candidates of Intermediate (IPC), through graduate/post graduate route are required to scan and upload their Certificate of Service, duly signed by their Principal/s on the above mentioned portal. Unless the Certificate of Service

Read More Changes in submission of Examination Forms of ICAI