News

Ola Electric has reversed a Rs 57 crore provision for a PLI-related penalty despite no MHI approval, drawing auditor scrutiny over the accounting treatment.

Ola Electric Subsidiary Reverses Rs 57 Crore Penalty Provision After Missing an Investment Milestone under PLI Scheme 

The Direct Taxes Committee of ICAI has released the eleventh edition of a publication titled "Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 (Revised 2026)." 

ICAI Releases Eleventh Edition of Guidance Note on Tax Audit under Section 44AB of Income Tax Act, 1961 (Revised 2026)

Judgement

ROC imposed a Rs 7 lakh penalty on company and its directors for failing to maintain a compliant Audit Committee under the Companies Act, 2013.

ROC Penalises Company and Directors for Breach of Audit Committee Requirements under Section 177(2)

Police rescued a GST audit team after hundreds of traders allegedly blocked them inside a Sowcarpet shop, sparking a major protest.

GST Officials Rescued After Traders Block Audit Team in Chennai

The JPC has proposed major amendments to corporate laws, including higher small company limits, CSR relaxations, audit reforms, and LLP changes, though the Bill is yet to become law.

Corporate Laws (Amendment) Bill, 2026 Proposes Major Changes in Company Compliance Rules

The ICAI has officially announced the result declaration date for the Information Systems Audit (ISA) Assessment Test held on July 25, 2026.

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Ola Electric Subsidiary Reverses Rs 57 Crore Penalty Provision After Missing an Investment Milestone under PLI Scheme

ICAI Releases Eleventh Edition of Guidance Note on Tax Audit under Section 44AB of Income Tax Act, 1961 (Revised 2026)

ROC Penalises Company and Directors for Breach of Audit Committee Requirements under Section 177(2)

GST Officials Rescued After Traders Block Audit Team in Chennai

Corporate Laws (Amendment) Bill, 2026 Proposes Major Changes in Company Compliance Rules

ICAI Announces ISA Assessment Test Declaration Date; Scorecard to Be Released on isaat.icai.org