Page Contents
ICAI has formed a special group to interact with the Government on a day-to-day basis for the formation of the National Financial Reporting Authority (NFRA) Rules.
Govt intends to amend the laws aimed at streamlining the functioning, in particular disciplinary aspects, of the three ICAI, ICWAI and ICSI professional bodies. A bill to amend the relevant provisions of the legislation governing the three bodies is expected to be launched during the second half of Parliament’s budget session.
The idea is to step up the oversight of the three bodies after a committee recommended several amendments almost three years ago. In fact, some of the proposals have been accepted and legal changes are being made in consultation with the institutions.
Also Read : NFRA’s Consultation Paper on Statutory Audit and Auditing Standards for MSMCs
New cheque clearing process in India starting from October 4, 2025 Existing System (Until Oct 3, 2025) : Clearing Method:… Read More
Overview on Tax Treatment on Gratuity in India What is Gratuity? Gratuity is a lump sum paid by an employer… Read More
Taxation Comparison: Gold Coin vs Gold Jewellery Tax Aspect Gold Coin Gold Jewellery ITR Reporting Treated as a capital asset.… Read More
Crypto Taxation & ITR Reporting Guide Tax on Profits from Crypto (Virtual Digital Assets)- Taxation U/s 115BBH Applicability on Virtual… Read More
Savings Account – Rules for Transactions to Avoid Income Tax Scrutiny The Income Tax Department monitors high-value transactions through banks’… Read More
Quick Guide on GST Marginal Scheme What is GST Marginal Scheme Meaning : The GST Margin Scheme is applicable primarily… Read More