Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT Audit :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TDS :: form 3cd :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company
 
 
« ICAI »
 Notification CPT - June, 2017
 Notification Final - May, 2017
 Result of the Chartered Accountants Final Examination held in May 2017 and Common Proficiency Test (CPT) held in June 2017 declared.
 Invitation for expression of interest from software development companies for providing software relevant to the Practitioners & CA Firms of ICAI by 31 August, 2017.
 Alternate website for CA Final and CPT May/June 2017 Results
 CPE Events 17th July - 22th July 2017
 Result of the Chartered Accountants Final Examination held in May 2017 and Common Proficiency Test (CPT) held in June 2017 are likely to be declared on Tuesday, the 18th July 2017.
 Result of the Information Systems Audit [ISA] Assessment Test held on 24th June 2017 is likely to be declared on 18th July, 2017.
  Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 10
 Announcement for revision in fee of Expert Advisory Committee (applicable with effect from July 1, 2017)
 IFRS Taxonomy Update - IFRS 17 Insurance Contracts

CAs to get new rules for auditing books of political parties
September, 26th 2011

Call it corporatisation of political parties. Taking a step ahead towards introducing financial accountability among the political parties in India, the auditing regulator Institute of Chartered Accountants of India (ICAI) is set to issue guidelines on standard accounting norms to its member chartered accountants (CAs) across the country within a fortnight.

Political parties would be required to furnish their financial statements annually, which need to be vetted by CAs, who would be required to follow these guidelines. We are ready with the final version of the guidelines and well send it within two weeks, said G Ramaswamy, president, ICAI.

The ICAI had submitted a set of recommendations on uniform accounting and auditing framework to the Election Commission (EC) in May and the latter has forwarded it to the law ministry for suggestions.

The recommendations have been forwarded to the law ministry for further suggestions and for any amendments if required, an EC official said.

It is a positive step as there will be some transparency in income and expenditure, though a lot may still be done under cover, but important thing is a beginning towards disclosure would be made, said Gurudas Dasgupta, member of Parliament, CPI(M).

ICAI had also sent the recommendations to the Central Board of Direct Taxes (CBDT). This move will help in functioning of our new investigation unit, which is to monitor election expenditures, funding to political parties and enforce compliance to tax laws by political parties, a CBDT source said.

The EC has already set up a separate expenditure monitoring cell last year. It has deployed income tax officials of the investigation wing to assess conduct.

ICAI has recommended all parties should follow a common format of financial statements, which includes balance sheet, income and expenditure account, and cash flow statement.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions