E India CA

Professional Updates for Chartered Accountants

By

RBI introduces a Single Master Form (SMF) as a one stop Form for Foreign Investments in Indian Entities

RBI introduced Single Master Form reporting to subsume all foreign investments related reporting requirements, irrespective of the mode or instrument through which the foreign investment is made. Indian entities directed to input the data on total foreign investment received by such entities till date in a dedicated interface to be ...

By

CAs, lawyers and valuers now in the line of FIR for bank frauds

Lawyers, chartered accountants and valuers, who collude with fraudulent borrowers, will soon find their names in FIRs lodged by banks.Shaken by the Nirav Modi fraud, India's second largest lender, Punjab National Bank (PNBNSE -0.78 %), last week directed its offices that FIRs be filed not just against borrowers and guarantors but als...

By

Illegal trades: Sebi gives tax dept, government information on 15,000 entities

NEW DELHI: Continuing efforts to crack down on illegal trading activities, SEBI has shared its findings on nearly 15,000 entities that have indulged in non-genuine trades through illiquid stock options with the income tax (I-T) department and the ministry of corporate affairs, according to a senior official. The markets regulator ...

By

SEBI’s new regulations sync with the Insolvency and Bankruptcy Code

A lot has been said and written on the Indian insolvency law—the Insolvency and Bankruptcy Code, 2016 (IBC). It is one of the big-bang reforms of the Modi government that seems to have started yielding tangible results. All the action and media attention has been focused on the 12 large stressed companies, which were referred to un...

By

National Financial Reporting Authority (NFRA) for Chartered Accountants expected to rollout in Two Months

The National Financial Reporting Authority (NFRA), a new proposed regulatory for erring Chartered Accountants and CA Firms to be implemented in two months, reports said. As per a report in Moneycontrol, the proposed auditors’ watchdog, National Financial Reporting Authority (NFRA), will soon become a reality and is expected to be s...

By

ICICI Bank moves NCLT against Punj Lloyd under Insolvency Code

New Delhi: ICICI Bank Ltd on Thursday moved the National Company Law Tribunal (NCLT) against Punj Lloyd Ltd seeking initiation of insolvency proceeding under the Insolvency and Bankruptcy Code (IBC) for recovery of outstanding dues of Rs852 crore. A two-judge NCLT bench headed by M. M. Kumar issued a notice to Punj Lloyd. At 2.16p...

By

Finance Ministry Likely to Launch Annual GST Return Forms in Next Council Meet

The finance ministry is drafting an annual return form for the filing of the Goods and Services Tax that will be brought upon in the upcoming GST Council meet. This will help the revenue department collect additional data from taxpayers. Sources in the finance ministry informed the form has to be filed additionally along with the ex...

By

Angel Tax – Changing Paradigm of Taxation for Startups

Ministry of Commerce and Industry, Govt. of India through Department of Industrial Policy and Promotion (DIPP), with an intent to building a stronger eco-system for nurturing innovation and growth of the Start-ups in the country, has come up with a new notification (G.S.R. 364(E)) on 11th April, 2018 (“Notification”) dealing wit...