« Top Headlines » Open DEMAT Account in 24 hrs  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money  ITAT Cuts ?4.85 Lakh Penalty After ?14.02 Lakh Interest Income Was Missed in ITR «  Tax sleuths on Satyam trail... Satyam scam: Auditors in the line of fire... » CAs could be barred for lifetime, if found guilty, says ICAI January, 08th 2009 Apex chartered accountants institute ICAI has so far barred CAs from practising for a maximum of five years in 41 cases, but may ban those involved in auditing Satyam books for life, if found guilty. We have written to the disciplinary committee of ICAI. If found guilty, CAs involved in Satyam Computer's auditing could be banned for lifetime, Institute's President, Mr Ved Jain said here. Mr Jain said before the body takes any action against the members involved in the fraud, it needs to collect all facts and information so we are looking into that and we will start our proceedings, he added. So far ICAI has taken action against 122 CAs in various auditing irregularities, he said. As many as 41 cases were big, where CAs were debarred from practising for five years, Mr Jain said. He said the institute cannot take action against PriceWaterHouseCoopers, auditors of Satyam Computer, but only against individual CAs. We will ensure that to any person who has not worked according to our standards and our expectations, severe punishment be given, he said. In fact, the ministry of corporate affairs announced that role of directors and auditors at Satyam will be scanned by ICAI and the apex body of Company Secretaries - ICSI. Following a letter from Satyam Chairman Mr Ramalinga Raju, who accepted that he had misrepresented facts in the company's balance sheet, the role of auditors and accountants for the company has also come under scanner.