« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  Excise audit to be expedited... ST tribunal bench in Vizag... » Centre can nominate RBI official to ICAI September, 15th 2006 The legal decks have been cleared for the Central Government to nominate a person "holding position" under the Reserve Bank of India to the Central Council of the Institute of Chartered Accountants of India (ICAI). So far, no RBI official could be nominated to the ICAI council. The Centre has, through new rules, specifically said that persons holding a position under RBI can be nominated to the Central Council of ICAI. The Centre has also been empowered to nominate persons holding position in any other organisation under Government control to the Central Council. This may imply that the Centre could rope in persons from the SEBI or the IRDA into the Central Council of the institute. The next round of Government nomination to the ICAI council is expected to take place in January next year, after the elections to the council are held in December 2006. Expansion of council The Central Government has also approved an expansion in the strength of the ICAI council from 30 members to 40. In the expanded council, the Government can have eight nominees. The remaining 32 would have to be elected from among the members of the ICAI. It has also now been stipulated that a Government-nominated person should not be a member of the institute. Persons of eminence The Government can also choose its nominees from among persons of eminence in the fields of law, banking, economics, business, finance, industry, management and public affairs. Hitherto, the ICAI central council's strength stood at 30 members - 24 elected members and six government nominees. Out of the six Government nominees, there was a nominee each from the Ministry of Company Affairs, the Comptroller and Auditor-General and the Central Board Of Direct Taxes (CBDT). Meanwhile, the Central Council, which met on Wednesday, decided to adopt the same proportion of increase (as that of the strength of the central council) to the five regional councils also, the ICAI President, Mr T.N. Manoharan, said.