#practicing ca

[vinod-narayan-united-forever]

EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT THE EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS MAY / JUNE 2014.

The Institute intends to draw a Panel from amongst its Members for acting as Observer at the examination centres in various cities during the Chartered Accountants Examinations to be held from 26th May to 9 th June, 2014 and the Common Proficiency Test to be held on 22nd June, 2014 (Sunday). It may kindly be noted that the assignment to act as Observer shall be given in the city of Professional Address of the Member only. Members who are interested to act as Observer at the examination centres during the examination days have to fill up an online form available at http://icai.org/app_forms/observer_may2014.html from 7 th February 2014 to 28 th February 2014. The Examination Department will not entertain empanelment application form in any other mode.

Refer link given below for the announcement - http://220.227.161.86/32147exam22241.pdf

[vinod-narayan-united-forever]

Section 44AB - Tax Audit Limit

In view of the enhancement of professional competence of members to perform quality services in an IT-enabled environment, the Council of the Institute at its 331st meeting held from 10th to 12th February, 2014 has decided to increase the "specified number of tax audit assignments" for practicing Chartered Accountants, as an individual or as a partner in a firm , from 45 to 60. The said limit will be effective for the audits conducted during the financial year 2014-15 and onwards. Accordingly, the Council Guidelines No.1-CA(7)/02/2008, dated 8th August,2008 stands amended from 1.4.2014 as under:- In the Council General Guidelines, 2008, the Council Guidelines No.1-CA(7)/02/2008, dated 8th August,2008, in Chapter VI "Tax Audit assignments under Section 44AB of the Income-tax Act, 1961 ", in Explanation given in Para 6.1, in sub-para(a) and sub-para(b), the figure "45" be substituted with the figure "60".