[CA Debayan Patra] Professional Updates

MEF Last Date (Reminder): 20/11/2021 Regards CA Debayan Patra

How to cast a valid vote in the ICAI Elections 2021 has been illustrated here. Regards, *CA Debayan Patra*

I had a conversation with a representative from the team of CAs guiding Infosys. It is understood that there is no generic problem. There could be specific problems with the json files. So, if any one is facing any problem with any step in relation to tax audit filing, a mail should be sent to efilingwebmanager@incometax.gov.in. In case the json file is invalid, it was requested that the json file may also be emailed so that they can trace specific issues with the files and come out with solutions. Regards CA Debayan Patra

I, CA Debayan Patra (Ballot Sl. No.8) hereby humbly seek your 1st/Best Preference Vote in the Regional Council Elections of EIRC. Details: www.debayanpatra.com

Extension till 31.12.2021: ROC Filing 1. Relaxation on levy of additional fees in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and MGT-7/MGT-7A for the financial year ended on 31.03.2021 under the Companies Act, 2013. Notification link: https://www.mca.gov.in/bin/dms/getdocument?mds=osdCvwS9QzyTDgXk3q%252BtPQ%253D%253D&type=op Regards, CA Debayan Patra

Multipurpose Empanelment Form The MEF for 2021-22 has been hosted at https://meficai.org/ with initial instructions. The Form will be live soon. Regards, CA Debayan Patra 9903956968, 9331016968 patra.debayan@gmail.com

9 CPE National Conference on GST 23rd to 25th October, 21 Registration URL: https://bit.ly/3lEgZsZ Organized by GST & Indirect Taxes Committee, ICAI Hosted by EIRC of ICAI Supported by: Jharsuguda, Sambalpur & Rourkela Branches of EIRC Notes 1. Plz join only using email id provided at the time of registration. 2. Registration on first-cum-first-served basis. 3. Link to join event will be sent to e-mail given at time of registration, at least 30 minutes before start of event. 4. Link to join cannot to be shared with anybody else. 5. For registration, please visit eirc website, after that enter the fields of Name, Surname, MRN, Contact Number & Mail-id in the registration box that will be opened up. Fees – Rs. 150 (GST Inclusive). Helpline : 9681014294, 9123038095

You can now change your Polling Booth for the ICAI Elections to be held on 3rd & 4th December to your preferred Booth anywhere in India Link: changebooth.icai.org Option (one-time) to be given by: 1. Within Region: 18th Nov,21 2. Outside Region: 11th Nov,21 Announcement: https://www.icai.org/post/election2021-option-to-get-polling-booth-re-alloted Regards, CA. Debayan Patra 9903956968, 9331016968 patra.debayan@gmail.com

*You can now change your Polling Booth for the ICAI Elections to be held on 3rd & 4th December to your preferred Booth anywhere in India* *Link:* changebooth.icai.org *Option (one-time) to be given by:* *1.* Within Region: 18th Nov,21 *2.* Outside Region: 11th Nov,21 *Announcement:* https://www.icai.org/post/election2021-option-to-get-polling-booth-re-alloted Regards, *CA. Debayan Patra* 9903956968, 9331016968 patra.debayan@gmail.com

ICAI against exempting small firms from mandatory statutory audit - says NFRA has no jurisdiction over MSMEs. https://www.business-standard.com/article/economy-policy/icai-against-exempting-small-firms-from-mandatory-statutory-audit-121101100020_1.html Regards, CA Debayan Patra

IMPORTANT ANNOUNCEMENT - ICAI EXAMS, DEC,2021 Exam Forms re-opened. Can be filled & filed on 11th and 12th Oct, 21.  Details: https://icai.org/post/re-opening-of-online-filling-up-of-examforms-dec2021 Regards, CA Debayan Patra

*ICAI President's Message* NFRA has no jurisdiction on the issue of Audit of Small Companies No need for us to reply to NFRA individually If we have any suggestions, we should directly write to president@icai.in Suggestions will be considered by ICAI in the presentation ICAI is preparing President, ICAI reiterated that the MCA has no plans of removing audit of Small Companies Link to the video: https://youtu.be/HwnFaRA43-I Regards CA Debayan Patra

*"NFRA Consultation Paper & it's implications": Limited seats: Register Now* *Day & Date* – Thursday, the 7th October 2021 *CPE Hours* : 3 (Structured) *Time*: from 5.00 PM to 8.00 PM *Topic* NFRA Consultation Paper & it's implications *Moderator* CA. Amarjit Chopra, Past President, ICAI *Panelists* Prof. R Narayanaswamy, Chairman,Technical Advisory Committee, NFRA CA Dipankar Chatterjee, Former CCM, ICAI CA P R Ramesh, Former Chairman, Deloitte *Registration URL* https://bit.ly/3izzbBN *Notes* 1. Join only using email id provided at time of registration. 2. Registration on first-cum-first-served basis. 3. Link to join event will be sent to e-mail given at time of registration, at least 30 minutes before start of event. 4. Link to join cannot be shared with anybody else. 5. For registration, please visit EIRC website, after that enter the fields of Name, Surname, MRN, Contact Number & Mail-id in the registration box that will be opened up. *Fees* – NIL. *Helpline* : 9681014294, 9123038095

*Open Letter to NFRA Chairman* https://www.google.co.in/amp/s/taxguru.in/company-law/open-letter-chairman-nfra-opposing-consultation-paper-abolishing-statutory-audit.html%3famp

Sharing as Received: 1. We urgently require 2 nos of Qualified CA's in our firm having post qualification experience of 10 years in statutory and internal audit preferably steel.Should possess good knowledge of Ind AS and preferably worked on SAP Expected CTC ranging between Rs. 15- 18 lacs 2. We urgently require 2 nos of Qualified CA's in our firm having post qualification experience of 3- 4years in statutory and internal audit. Should possess good knowledge of Ind AS and preferably worked on SAP Expected CTC ranging between Rs. 6 Lac to 7 Lac 3. Require 2 nos semi qualified/ graduate having experience in field of audit of manufacturing companies for more than 4 years. Expected CTC ranging between Rs. 3 Lac to 4 Lac Location : Kolkata, Kharagpur, orissa, Asansol Gaurav More Contact no-9836627993 Email CV @ gauravmore1@yahoo.com

Very Very Important - NFRA - Consultation Paper Please refer https://nfra.gov.in/sites/default/files/NFRAConsultationPaperMSMCs.pdf NFRA has brought out a consultation paper whereby it has invited suggestions by 10th November, 2021. It questions the requirement of Statutory Audit of Micro, Small and Medium Companies. Four questions have been raised to which comments have been invited. It is high time that we save the Profession by giving our comments emphasising the need for the audit. We must send it from as many mail ids as possible (Members, Articles, Office Staff, their family members, friends, etc) Following are the Questions related to Issues about the Auditing Areas of MSMCs: Question No. 1 - Do you think that Micro, Small and Medium Companies (MSMCs) depending upon some criteria and threshold should be exempted from the mandatory statutory audit under Companies Act, 2013? If not, why not and if yes, what would be the criteria and thresholds for exemption? Question No. 2 - Do you think there is a requirement for a separate set of auditing standards for MSMCs as it exists for accounting standards? If no, why not and if yes, what should be the basis for the same? Question No. 3 – The cost of conducting an audit as per the prescribed standards is an important input for the responses to Questions 1 and 2. Do you agree with the approach for estimating standard cost of audit computed by NFRA? If not, which areas/ assumptions need changes? Question No. 4 - Do you think the current exemption thresholds for CARO, ICFR and statutory audit applicability need to be standardised and made uniform? If no, why not and if yes, what would be the criteria and thresholds? Last date for receiving the comments is 10 November 2021. Email: comments-tac.paper@nfra.gov.in Postal: The Secretary, National Financial Reporting Authority 7th-8th Floor, Hindustan Times House, 18-20, Kasturba Gandhi Marg, New Delhi 110001. I am sure that these issues will also be discussed by ICAI and MCA. But let us also play our roles in our individual capacities first. Regards, CA Debayan Patra

Extension of Last Date for Payment of ICAI Membership/COP Fees to 31.12.2021 for the year 21-22 Refer https://www.icai.org/post/extension-of-last-date-for-payment-of-membership-cop-fee-2021-22 Regards CA Debayan Patra