Finance Minister @PiyushGoyal upholds the role of Chartered Accountants in Nation Building, healthy economy and GST implementation in the programme of #GSTForNewIndia organized by @cbic_india in New Delhi @theicai #CADay https://t.co/aBZzyZQ49h

Income Tax E filing Portal asking to re-update the Contact details of already updated logins
Posted on 6th July 2018 at 11 AM
The E filing Portal of Income Tax is asking to update the contact and address details even though the same are entered earlier notifying…

ICAI UDIN aims to address concerns of CAs with respect to forgery and fake use of name by Non CAs.
ICAI have launched Unique Document Identification Number (UDIN) facility which is a unique number, which will be generated by the system for every document…

CBIC Launches Web-help service for the taxpayers for faster resolution of query
CBIC have launched Web-help service for the taxpayers where they can get faster resolution of their query.
This can be accessed on the website http://cbec-gst.gov.in  through

Finance Ministry increases threshold limits to file appeals against taxpayers to reduce litigations
In a highly welcome step In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate…

Disciplinary body for auditors won't have power to create accounting standard, but can penalise auditors

ICAI submits 7th set of 121 Suggestions on Critical GST Issues to FM Indirect Tax Committee of ICAI have submitted its 7th Set of very very critical and important Suggestions having 121 GST legal and implementation issues to Finance Minister on 12th July…

Income Tax Return E filing portal crashes, work of tax professional hampers
The Income tax portal crashed today since afternoon. Work of thousands of Tax professionals across country have come to a standstill because of the same before the deadline of 31st…

CBDT modifies Tax Audit Report form 3CD, brings major changes related to GST, SFT and Cash transactions
The Central Board of Direct Taxes have modified the Form 3 CD popularly knows as Tax Audit Report IN THE MIDDLE OF THE YEAR via Income–tax (8th Amendment)…

Representation to CBDT for due date extension of ITR by one month The Direct Tax Committee of ICAI have submitted a representation to Chairman CBDT on 23rd July 2018 for extension of due date for filing of Income Tax Returns due on 31st July 2018.
The representation…

Due date for filing ITR extended by 1 month for categories which required to file ITR by 31st July.
The Central Board of Direct taxes have extended the due date for assessees falling under the category who were required to file Income Tax Return by 31st July…

Banking company & NBFC to pay GST under Reverse Charge Mechanism for receiving services from Individual DSA
Ministry of Finance, Govt of India have notified Services supplied by individual Direct Selling Agents (DSAs) other than a body corporate,
partnership…

ICAI issues 3rd Edition of “E-publication on E-way Bill under GST”  
In erstwhile VAT regime, for movement of goods, there was need of continuous monitoring of borders by States due to practices of goods moving without bills or multiple movements under the…

Amarjit Chopra, Chairman of NACAS, strongly defends the auditing community.

ITR preparation utilities and schema for ITR & TAR revised wef 1st August 2018
The Central Board of Direct taxes have revised the Income Tax Return preparation utilities (Excel as well as Jave based) for all ITRs i.e. ITR 1 to 7 wef 1st August 2018. The schema…