Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

ICAI goes Digital, won’t accept Cheques/ DDs beyond 6th May

As part of converting to the digital platform and to go user-friendly, the Institute of Chartered Accountants of India ( ICAI ) will not accept payment in cash or any other physical form beyond 4th May 2019.

“The ICAI has been continuously evolving ways to automate and re-engineer processes in order to make transactions easier and user-friendly. One such step has been the creation of SSP (Self Service Portal), an initiative from ICAI to make applications (Forms) and transactions (Services) – faster and easier. The full-scale Student and Member / Firm Services by ICAI will be put to implementation starting the third week of May 2019,” the ICAI said in a statement.

“ICAI has scheduled a one-time migration activity from the old system to a new system from 6th May 2019. The entire IT Systems (including e-services) with respect to Members and Student Services will not be available between 6th May to 22nd May 2019 and the Regional Offices will not be able to process any form or any other transaction. However, the membership renewal link will be available and Members will be able to make fee payments through online mode. However New Students of Foundation Course and Direct Entry will also be able to register,” it said.

“Very Important: As entire ICAI is moving towards new Digital platform, PHYSICAL DAK including CHEQUES / DD’s will not be accepted by Regional Offices and Branches beyond 6th May 2019,” it emphasized.

it said that with effective from 22nd May 2019 (Wednesday), ICAI will accept only Online Application forms only through e-services at the link https://www.icai.org/new_post.html?post_id=5509 on the website www.icai.org.

“Important: Members are requested to update and validate their e-mail address and mobile number (one-time activity) before 6th May 2019 to ensure access to the new system, as all transactions henceforth in the new system will be OTP based transactions,” the announcement said.

Currently, the ICAI is receiving cheques and DDs from students and members for various services such as renewal of membership and exam applications. From now, onwards, the payments would be accepted only through the digital platform.

Read more at: https://www.taxscan.in

Share This!



No comments:

Post a Comment