Request for Information Post-implementation Review: IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosure of Interests in Other Entities

RELEVANT EXTRACT  IASB conducts Post-implementation Review of already issued IFRS Standards to identify whether these Standards provide information that is useful to users of financial statements; whether there are requirements that are difficult to implement and may prevent the consistent implementation of the standards; and

Gazette Notification No.1-CA(7)/197/2020 dated 10th December, 2020

RELEVANT EXTRACT  No. 1-CA(7)/197/2020.—The following draft of certain regulations further to amend the Chartered  Accountants Regulations, 1988, which the Council of the Institute of Chartered Accountants of India  proposes to make, is hereby published, as required by sub-section (3) of Section 30 of the Chartered 

Important Announcement regarding the Last Date of Payment of Membership/ COP Fees

RELEVANT EXTRACT  Considering hardship caused to the Members due to various reasons, last date for payment of Membership/COP fee is further extended to 31st December 2020. Members are requested to pay their Membership/COP fee online immediately. Additional Secretary M&C-MSS Section Noida Source -

Handbook on Social Activities by CAs amid COVID-19

RELEVANT EXTRACT  The CSR Committee of ICAI, acknowledging the role played by Chartered Accountants in their individual capacity during the Covid 19 pandemic, has released HANDBOOK ON SOCIAL ACTIVITIES BY CHARTERED ACCOUNTANTS AMID COVID 19. The Handbook is available at Warm regards, Chairman & Vice

To be successful involve in decision making processes

Involve in decision making processes that will give you access into the system and will provide you guidance   Move beyond your day to day work and involve yourself in the high level meetings in which issues related to processes are discussed and business decisions

Relaxation of additional fees and extension of last date of filling of CRA-4 (form for filing of cost audit report) for FY 2019-20

RELEVANT EXTRACT  Considering the difficulties faced by the corporates and professionals due to the continued disruption in certain parts of the country and to provide greater Ease of doing business, the Ministry of Corporate Affairs, GOI has clarified via Circular No. 38/2020 dated 1st December,

Important Announcement regarding the Last Date of Payment of Membership/ COP Fees

RELEVANT EXTRACT  The members are aware that in order to mitigate the hardships faced by some of the Members due to various reasons, the Institute had extended the last date of payment of Membership/ COP Fees for Financial year 2020-2021 to 15th December, 2020. In

Last date extended till 15th December,2020 to apply for 14th ICAI Awards being organised by Committee for Members in Industry & Business (CMI&B)

RELEVANT EXTRACT  About ICAI & CMIB The Institute of Chartered Accountants of India (ICAI), established, by an Act of the Indian Parliament, continues its operation as the Single Largest Statutory Accounting body of the world. ICAI stands on Four Pillars - Regulator, Standard Setter, Educator

IMPORTANT ANNOUNCEMENT – Last Date for Payment of Membership/COP Fee is further Extended to 15th December 2020

RELEVANT EXTRACT  Considering hardship caused to the Members due to various reasons, last date for payment of membership/COP fee is further extended to 15th December 2020. Members are requested to pay their membership/COP fee online immediately. Additional Secretary, M&C-MSS Section Source -

51 Beautiful Quotes by “JACK MA”

Jack Ma, is a Chinese business tycoon, investor and philanthropist. He is the co-founder and former executive chairman of Alibaba Group, a multinational technology conglomerate having a net worth of more than $50 billion. Ma is a strong proponent of an open and market-driven economy.

Learn the art of delegation – an important tool for success

The first rule of management is delegation. Don't try and do everything yourself because you can't.                                                                    -Anthea Turner-   Delegation plays a very important role in your success. If you really want to grow, you need to delegate the authority to other members in

7 important deductions in income tax you should not miss out

As you are aware that Chapter VI A of the Income Tax Act, 1961 provides for various deductions which we can claim from total income while computing the taxable income. There are some very important deductions but very commonly known but not claimed generally because

GST on Flat Maintenance Charges

GST on Flat Maintenance Charges collected from members   Maintenance charges paid by residents to the Resident Welfare Association are exempt up to Rs. 7,500. If the amount charged by Resident Welfare Association exceeds Rs. 7,500 per month per member, GST is chargeable on the

Presumptive taxation for who are in hiring or leasing of goods carriages – Section 44AE

Meaning of presumptive taxation scheme As per sections 44AA of the Income-tax Act, 1961, every person who is engaged in business or profession is required to maintain regular books of account under certain circumstances. Income-tax Act has framed the presumptive taxation scheme under sections 44AD,

Invest on training – It’s very important

We assume that till now you have learnt a lot in your learning phase (first 3-4 years of job) and growth phase (next 4 years after learning phase) both. You have transformed yourself from a job seeker to a boss who is handling a team

Investment Planning

We assume that till now, you have invested a good span of time in your career, so definitely you have earned a good amount of money. Though you have parked that money intelligently in various options, but below is a suggestive approach for better investment