ICAI draft proposes minimum requirements, disclosure norms for information systems audits
Exposure draft of IS Audit Standards proposes principles, quality benchmarks and disclosure norms amid rising digital and cyber risks.
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MCA extends deadline till January 31 for filing financial statements, annual returns
Companies can now file their financial statements and annual returns for the financial year 2024-25 until January 31, 2026. This extension is granted without any additional fees. The Ministry of Corporate Affairs made this decision following requests from various stakeholders…
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India’s growth outlook steady amid global headwinds: Report
India stands out as a resilient growth story among major economies. Domestic demand, easing inflation, and leadership in key sectors support this outlook. UBS highlights that countries with strong internal drivers are better positioned to navigate global volatility. India’s expanding…
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Will AI kill jobs? Government data tells a different story
Contrary to fears of job losses, Artificial Intelligence is creating new opportunities in India, with the AI talent base projected to double by 2027. Government initiatives like FutureSkills PRIME are actively reskilling and upskilling the workforce in emerging technologies. AI…
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India imposes tariff on some steel products for three years to curb cheap imports
India has imposed a three-year safeguard duty of 11% to 12% on select steel imports, mainly to curb shipments from China. The tariff will start at 12% in the first year, ease to 11.5% in the second, and fall further…
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Income Tax notice for credit card spending: The red-flag transactions you must avoid
Using credit card users for ‘money rotation’ to earn rewards can result in tax notice if no proper explanation is given. This practice, where money is cycled through cards without real spending, is now classified as ‘manufactured spending’. Tax officials…
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