Samsara & Associates

03/02/2023

Amendment related to msme in Section 43B of Income Tax Act - Finance bill 2023

12/12/2021

We are now at "Room No. 229, 2nd Floor, Kamlalaya Center, 156A Lenin Sarani, Kolkata - 700013".

07/05/2020

https://www.cnbctv18.com/economy/up-govt-exempts-industries-from-all-labour-laws-for-3-years-5870231.htm/

The only labour laws that will apply, include, Building and Other Construction Workers Act, Section 5 of Payment of Wages Act, Workmen Compensation Act, Bonded Labour Act.Get latest Business online at cnbctv18.com

04/05/2020

Communication with the Retiring Auditor through E-mail - clarification from the ICAI

The members have raised concerns that during the period of ongoing lock-down, it is not possible for the Incoming Auditor to communicate with the Retiring Auditor through the mode(s) of communication permissible in terms of provisions of Code of Ethics.

The existing Code of Ethics, 2009 , provides, under commentary to Clause (8) of Part-I of First Schedule to The Chartered Accountants Act, 1949 as under :-

“Members should therefore communicate with a retiring auditor in such a manner as to retain in their hands positive evidence of the delivery of the communication to the addressee. In the opinion of the Council, communication by a letter sent “Registered Acknowledgement due” or by hand against a written acknowledgement would in the normal course provide such evidence.”
Due to the existing constraint of communication through above mentioned modes, it has been decided that the members may communicate with the Retiring Auditor vide E-mail , provided an acknowledgement of such communication is received from the Retiring Auditor’s E-mail address registered with the Institute or his last known official E-mail address. Such acknowledgement of communication would be deemed as valid evidence of positive delivery of communication.

24/04/2020

Gold price may zoom to 82k per 10gm by end of 21

14/04/2020

ICAI allows Use of Electronic Signature for Signing Audit Reports and Certificates.

In an announcement issued by The Institute of Chartered Accountants of India said that, from the provisions of the Indian Evidence Act, 1872 and the Information Technology Act 2000, it may be said that these Acts allow the use of electronic signature for authentication of different documents. The members of ICAI may use an e-signature for signing audit reports and all other reports issued pursuant to any attestation engagement and certificates.

However, the members must ensure compliance with all the requirements relating to signature prescribed in the relevant law or regulation, Standards on Auditing and other relevant announcements/ clarifications issued by ICAI. The requirement of mentioning UDIN is also appliable for digitally signed reports / certificates.

This announcement will come into force from immediate effect.

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09/04/2020

Odisha extends lockdown till April 30, first state to do so..

Odisha CM Naveen Patnaik has announced that the lockdown in the state has been extended till April 30, becoming the first state in the country to do so. All educational institutions in Odisha will also remain closed till June 17, the state government announced. PM Narendra Modi had announced the nationwide lockdown till April 14.