V S Vadivel FCA, ACS

About V S Vadivel FCA: Mr. V S Vadivel, FCA is a notable Author, Chartered Accountant, Company Secretary, and Academician from India. He has so far authored 41 books on various topics of direct taxation and auditing meant for ready reference and useful guidance of chartered professionals and others. To know more about Mr. V S Vadivel, FCA, Chartered Accountant, his books, and publications you may please visit vsvadivelfca.in

Audit: Questions & Answers: Qn: While conducting a bank audit, whether separate UDINs are required to be generated for LFAR, Tax Audit, and Statutory Audit Report? Ans: In a bank audit, a single UDIN covers the Bank Audit Report, including LFAR and certificates, as it's per assignment per signatory per date. However, a separate UDIN is needed for the Tax Audit Report because it's a distinct assignment.

The ICAI should halt its new drive (started in May 2024) for enhanced CA mass production in India. Liberalized evaluation, a reduced syllabus, and fewer papers will damage the CA profession's reputation. This will negatively impact new CAs.

The so-called prestige of Chartered Accountants in India is declining, with new CAs facing a devaluation of their credentials. Recent changes to the CA course by ICAI and increased CA production since May 2024 may threaten future job prospects, potentially mirroring the employment challenges faced by Indian engineers. These trends pose significant challenges for both ICAI and its professional graduates.

Alert: Gone are the days when Chartered Accountants (CAs) in India were highly admired as accomplished professionals of business excellence. Now, newly qualified CAs are treated like ordinary undergraduates due to the recent dilution and devaluation of the CA course by @theicai The day is not far when Indian CAs will struggle in the job market, just like engineers. Too much of anything is good for nothing; CAs are no exception. Yet, ICAI has accelerated mass production of CAs since May 2024. It seems @theicai has learned nothing. Tough days lie ahead for @theicai and its so-called products — Indian CAs.

Dear @theicai: Revert to the previous exam structure of 2 exams per year with 4 subjects per group. Focus on maintaining the CA profession's integrity, rather than solely increasing the number of CAs. The current 3 exams per year with 3 subjects per group policy risks producing underqualified and unemployed professionals.

Income Tax Rules 2026: In a welcome move to simplify tax filing, the Income Tax Department in India has proposed allowing taxpayers to choose between the old and new tax regimes directly in their return form, instead of filing a separate declaration. Currently, certain taxpayers — particularly individuals, HUFs, and others with business or professional income — must file Form 10-IEA electronically under Rule 21AG of the Income-tax Rules, 1962, to opt for the old tax regime. This form must be submitted on or before the due date for filing the return.

Iran vs. Trump: War of Words Escalates Tensions between Iran and the United States continue to escalate, and the rhetoric has intensified. Mehdi Mohammadi, an advisor to the Speaker of the Iranian Parliament, Mohammad Bagher Ghalibaf, has issued a "stern warning" to US President Donald Trump. 'Surrender, or we will send you back to stone age' The Iranian advisor has reportedly stated that Trump has a window of 20 hours to back down; otherwise, he will have to face severe consequences. This Iranian statement comes at a time when the deadline for Donald Trump's threat to obliterate Iran if it refuses to reopen the Strait of Hormuz is drawing to a close.

The ICAI has gone totally mad, watering down the CA syllabus like cheap chai and flushing the prestige of the noble profession down the Ganges. Cutting papers from 8 to 6, shoving MCQ nonsense at every level – what ridiculous tamasha is this? The ICAI's recent CA syllabus revisions, including reducing papers and introducing MCQs, are perceived as a significant dilution of standards, damaging the profession's reputation.

HDFC Bank, India's largest private sector lender, has experienced a significant sell-off in the March 2026 quarter, with foreign investors offloading nearly Rs 35,000 crore worth of shares. This led to a 26.2% drop in the bank's shares, the steepest decline since March 2020, when the stock fell over 33%. The downturn coincides with the unexpected resignation of Chairman Atanu Chakraborty.

A major win for the Adani Group in terms of acquiring JAL. The shares of major Adani Group companies traded in positive territory during the intraday trade on Monday, April 06, after the Supreme Court of India refused to stay the conglomerate's Rs 14,543 crore resolution plan for bankrupt Jaiprakash Associates (JAL). The Apex Court's decision came as a major win for the Adani Group in terms of acquiring JAL. The National Law Appellate Tribunal (NCLT) and national Company Law Appellate Tribunal (NCLAT) had earlier cleared Adani's resolution for the Jaiprakash Associates Ltd (JAL). Anil Agrawal's Vendantam challenged Adani's plan approval, saying its higher bid was ignored in the process, lacking fairness and transparency.

The shares of major Adani Group companies traded in positive territory during the intraday trade on Monday, April 06, after the Supreme Court refused to stay the conglomerate's Rs 14,543 crore resolution plan for bankrupt Jaiprakash Associates (JAL). The apex court rejected Vedanta Ltd, one of the bidders to buy JAL, in its challenge.

Iran vs. Trump: Iran’s 10-point peace proposal: 1. Guarantee that Iran will not be attacked again 2. Permanent end to the war, not just a ceasefire 3. End to Israeli strikes in Lebanon 4. Lifting of all US sanctions on Iran 5. End to all regional fighting against Iranian allies 6. In return, Iran would open the Strait of Hormuz 7. Iran would impose a Hormuz fee of $2 million per ship 8. Iran would split these fees with Oman 9. Iran to provide rules for safe passage through Hormuz 10. Iran to use Hormuz fees for reconstruction instead of reparations.

President Trump threatened potential military action against Iran if the Strait of Hormuz remains closed, stating Iran could be "taken out" swiftly and key infrastructure targeted if no agreement is reached.

Pakistan has proposed a two-stage plan to end the US-Israel war on Iran and reopen the Strait of Hormuz. Esmaeil Baghaei, spokesperson for Iran’s Ministry of Foreign Affairs, acknowledged Islamabad’s diplomatic efforts, saying the proposal has been shared with both Iran and the United States. Under the plan, an immediate ceasefire would come into effect, followed by the reopening of the Strait of Hormuz. The peace proposal allows a 15 to 20-day window to negotiate and finalise a broader peace settlement. The tentative agreement, referred to as the “Islamabad Accord,” envisions a regional framework governing the strait, with final in-person negotiations expected to take place in Pakistan’s capital.

The ICAI should return to a twice-yearly exam schedule with four subjects per group. The primary goal should be the quality, not just the quantity, of CAs in India. ICAI should reinstate a twice-yearly exam schedule with four subjects per group, prioritizing the quality of Indian CAs to avert a bleak future for the profession.

The ICAI President, Vice President, and Council Members should prioritize the profession's integrity over inflated membership numbers. Falsely claiming a demand for 5 million CAs in India (in 2047) and pursuing membership growth without considering actual needs undermines the profession's prestige. ICAI's success isn't dependent on sheer size.

ICAI should revert to a bi-annual exam cycle with four subjects per group for both Intermediate and Final levels. ICAI's primary objective should not solely focus on increasing the number of CAs in India.

The ICAI is welcome to take student-friendly measures, provided they exclude reducing papers, diluting the syllabus, and liberal evaluation. The ICAI's "new way of easing" the examination, starting May 2024, is potentially detrimental. Be alert, ICAI.

CA Exam Results: Declaration Dates and Timings Should Be Fixed. The CA Institute must end the unwanted tradition of announcing: "Results are likely to be declared by the afternoon/evening of..." For example: "Results of the CA Intermediate & Foundation Examinations (January 2026) are likely to be declared by the afternoon of 8th March 2026". Instead, ICAI should announce results on a fixed date at a specific time. The CA students should not be forced to wait for hours. The Institute should not prolong candidates' anxiety.