new delhi times
TRANSCRIPT
Volume 1 | Issue 4 July, 2019
ICAI’s very own Amazon ! CDS (Central Distribution System), is an initiative from ICAI to make sale of all ICAI publications - faster and easier.
ICAI has developed this portal with the intention of providing study material to its Registered Students at their door step and to sell ICAI publications and other artefacts to Students, Members and other stakeholders online and deliver the same at the doorstep of the buyer.
ICAI has developed an online store portal for its students, members and for other stakeholders. This portal provides options to purchase all relevant publications and artefacts online. Anyone interested can generate his/her own accounts and place his/her orders on online store. Students, upon successful registration to the course, will be allotted coupon(s) against registration. Foundation Course students will be allotted 1 coupon, Intermediate and Final course students will be allotted 2 coupons. The Intermediate and Final course students can choose to use their coupons as per their requirement.
https://icai-cds.org/
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Video lectures of Foundation Course
(https://icai.org/elearning)
Entire Foundation course material is available on Digital Learning Hub. The learning is facilitated with videos with Chapter wise Content accessible on desktop/mobile device mode.
Students can access the same FREE of Cost !
Two Million UDIN’s
Members have attested over Twenty Lakh Certificates/ Tax Audits/ GST Audits since launch of UDIN. It signifies the immense professional opportunity as well as the phenomenal response by all stakeholders. It’s worthwhile to mention that other 2 sister institutes ICSI & ICMAI are also emulating our model !
This unique initiative has placed ICAI as a global leader with many countries keen to emulate the same. Several instances of detection of Fraudulent Certificates have also been reported and appreciated by members.
NEW DELHI TIMES Professional Updates from the Desk of CA. Aniket Talati
Volume 1 | Issue 4 July, 2019
Overseas Campus Placement for CAs & Inter CAs I am happy to inform that in a bid to provide global opportunities to the Chartered Accountants, Committee for Export of CA Services (of which I am Vice Chairman) is organising its overseas campus placement on 18th - 21st October 2019 along with CMI&B of ICAI. It is under the Champion Sector initiative of GoI. In a step forward to the ICAI’s initiative that started last year, accountants(Inter CAs) have been included in this overseas placement drive. I request all professionals who wish to avail themselves of this opportunity to register for the placement programme, which starts from 16th August 2019.
• Register https://cmib.icai.org from Aug 16, 2019
Interviews @ Ahmedabad on 20th / 21st Oct
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REPRESENTATIONS TO GOVERNMENT
• CBDT: Status - Successful It has been decided by CBDT to extend the due date of filling of Income Tax Returns from July 31 to August 31
www.incometaxindia.gov.in/news/order-for-extension-of-due-date-for%20filing-of-itrs-23-07-2019.pdf
Volume 1 | Issue 4 July, 2019
Some recent videos on SSP which members would find useful are listed below for ready reference
• SSP: First time Login creation https://youtu.be/7Sd754ba1-8
• Membership Fee Payment. https://youtu.be/VBMxDn-yZ9k
• Apply for Membership(Form2) https://youtu.be/lhAxuTnMXfA
• Register as Fellow(Form3) https://youtu.be/VQoZYt_LpJA
APPROACH TO UPGRADE EXISTING ACCOUNTING STANDARD
The Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs in February 2015, are applicable to the specified class of companies. Accounting Standards notified under Companies (Accounting Standards) Rules, 2006, and those issued by the ICAI are applicable to entities to whom Ind AS are not applicable.
However, on the basis of the discussions held at various standard setting forums, such as, the Accounting Standards Board (ASB) of the Institute of Chartered Accountants of India (ICAI), NACAS and the Ministry of Corporate Affairs (MCA) , it had been decided to upgrade Accounting Standards to bring them nearer to Ind AS. In this context, t h e A S B a n d t h e C o u n c i l , I C A I , h a d finalised the Approach Paper for upgradation of existing Accounting Standards which provides broad approach which may be followed in the upgradation of the AS.
In pursuance to the discussions held at 383rd meeting of the Council held on May 21, 2019, the Hon’ble President, ICAI, has constituted a Group of Central Council Members (CCMs) to review the same. I have been nominated as a part of the group and would be raising genuine concerns of
small and medium practitioners. I am of the firm belief that the time is right for India to take lead as a global standard setter not simply emulate and import foreign standards. The impact of this exercise would be huge since basic accounting standards that are applicable to firms / proprietors / non corporate entities would be affected. It will have an impact on the entire accounting landscape.
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FROM THE DESK OF CA. ANIKET S. TALATI, COUNCIL MEMBER, ICAI (Author may be reached directly on [email protected] or 9825551448 for any queries or issues relating to the profession)
DISCLAIMER :
This Newsletter is to provide information only and the author has no liability for the content of information or for the consequences of any action taken on its basis. Readers should use their judgement for reliance on information provided. Any views or opinions presented are solely those of Author and do not represent views of ICAI. The information provided herein may change through Circular/Notification/Act/Law/ Judicial decision/ Statue.