« Top Headlines » Open DEMAT Account in 24 hrs  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money  ITAT Cuts ?4.85 Lakh Penalty After ?14.02 Lakh Interest Income Was Missed in ITR  ITR filed under old regime, tax calculated under new regime; Delhi ITAT gives taxpayer relief  ITAT Delhi Quashes Tax Notice on AMU PG Student’s ?18.34 Lakh Stipend, Declares It Tax-Free Under Section 10(16)  Advance tax deadline September 15: What happens if you missed the previous instalment payment?  How much gold jewellery can you keep at home? Nagpur ITAT explains rules on ownership, gifts, taxability  ?5.31 lakh TDS refund allowed by ITAT Delhi: Why absence of an original ITR did not block the taxpayer  Missed the ITR Filing Deadline? How to Claim Your Income Tax Refund and Correct Mistakes Before December 31, 2026  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session)  GST Return Preparation & ITC Analysis with TallyPrime (Hinglish Session) «  India gives a reason to cheer to accountants... Auto Mission Plan seeks tax holidays to attract mega... » ICAI to develop taxanomy January, 29th 2007 The Institute of Chartered Accountants of India (ICAI) said it would soon constitute a committee consisting of regulators to develop a taxanomy for the promotion of Extensible Business Reporting Language (XBRL) in India.    The committee will comprise regulators and stock exchanges including the RBI, SEBI, Ministry of Company Affairs, IRDA, BSE and NSE.    We have decided to constitute a committee which will consist of 10 to 12 members for the development of taxanomy. Taxanomy is a dictionary of financial terms, said ICAI President T N Manoharan.    The committee will be constituted by next month. ICAIs council had discussed the need for promoting XBRL in India. XBRL is a technology-cum-accounting language which will facilitate financial reporting in a uniform manner. Around 11 countries have already introduced XBRL.    ICAI has also finalised the adoption of the systems audit standards in India, which would allow members with Diploma in Information Systems Audit qualification to avail the benefits of these standards in the systems audit discipline.    The institute is in the process of signing an MoU with the US based ISACA (Information Systems Audit and control Association).