Taxontips
No Result
View All Result
Sunday, June 1, 2025
Login/ Register
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Talk to an Expert
  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
No Result
View All Result
Taxontips
No Result
View All Result

Multipurpose Empanelment Form (MEF) – 2023-24 | Now Open

ADMIN by ADMIN
September 20, 2023
in Business & Other News
0
ICAI has announced a new MBA programme for Diploma in Management and Business Finance
100
SHARES
1.2k
VIEWS
image_pdfPDFimage_printPrint

Professional Development Committee (PDC) is pleased to host the Multipurpose Empanelment Form (MEF) for the year 2023-24, which is available at www.meficai.org. Before filling the MEF, Members are advised to go through the Advisory.

Registration / Login Credentials
Existing Applicants:

Applicants of MEF 2023-24 can login with MEF 2022-23 credentials. If you have forgotten the password, go to “Forgot Password” button to retrieve the password.

New Applicants:
Please register by using:

  • FRN & Date of Establishment if Applicant is a Partnership Firm/LLP/Proprietary Concern
  • MRN & Date of Birth if Applicant is an Individual.

In our continuous efforts to improve the MEF processes, we have introduced a new feature known as the “Category Calculator” which is available at https://app.meficai.org/Cats. This feature will help you to know the Category as per the revised norms of RBI dated 6th March, 2023.

Last date for submission of online Form is 6th October, 2023.

1. Eligibility for filing MEF

  • Partnership/LLP Firms which are in existence as on 1st July, 2023.
  • Proprietary Firms which are in existence as on 1st July, 2023.
  • Member holding Full-time Certificate of Practice as on 1st July, 2023 and practising in individual name.

2. Procedure of filing MEF

  • Green Fields are non-editable fields which exhibit the data related to Firms/Members/ Partners/Paid Employees which are fetched from the SSP of ICAI.
  • White Fields are editable fields which exhibit the data from the last year’s MEF which are to be updated by the Applicants as per the actuals.
  • Any change in the data in Green field will be considered in MEF only if the same is reflected in SSP of ICAI. Applicants may indicate such change in Grey colour fields in MEF for information purpose.
  • MEF provides the facility of page-wise saving and is editable any number of times before submission, but once submitted, cannot be edited.

3. Important Parameters of Credit Scaling in MEF

  • The Applicant will get the credit of the partner/proprietor only if she/ he is exclusively associated with the Applicant from 1st July, 2023 to the date of second verification.
  • The second verification is subsequent verification of the records of the Member/Firm as on 1st July of the respective year with the latest SSP (Self-Service Portal) records which is normally in the month of October.
  • The Applicant applying in individual capacity will get the credit only if she/he is exclusively associated from 1st July, 2023 to the date of second verification.
  • Out of the multiple firms with Common Partners, only one firm can apply for Bank Branch Auditors’ (BBA) Panel. In case both / all the firms apply, the MEF of all these firms will be rejected for Bank Branch Auditors panel.
  • In case, the firms are having common partner(s)/proprietor(s) as on 1st July, 2023 and only one firm applies then the same will be eligible but the credit of common partner(s)/proprietor(s) shall not be given.
  • The details of the common partner(s) and their association with other firms, and/or practising in Individual name/Sole practice will be reflected after logging in the MEF.
  • Members associated with more than one entity as indicated below even for any one day from 1st July, 2023 to the date of second verification will not be treated as exclusively associated with the Applicant:
    • Member is not holding full time CoP
    • Proprietor/Partner is also having Sole Practice (Individual)
    • Proprietor having more than one Proprietary Concern
    • Partner/Proprietor/Sole Practitioner is in employment.
    • Proprietor/Partner is also partner in any other concern.

4. Unique Code Number (UCN)

  • UCN will be allotted to all first-time eligible Applicants for Bank Branch Auditor’s panel.
  • The Applicants who are not eligible for Bank Branch Auditor’s panel will also be allotted UCN, if any of the partners/proprietor/ Member practising in individual name is exclusively associated with Applicant as on 1st July, 2023.
  • Any Member who has been allotted UCN while practicing in individual name should continue to use the same UCN even on forming proprietary firm.

5. Experience of Bank Audit

  • Experience of Bank Audit as Statutory Auditor of a Branch of a Public Sector Bank or of a Private Sector Bank with deposit of not less than Rs. 500 Crore of the Bank as a whole (and not that of a Branch) is to be mentioned. (The experience of Statutory Central Audit of J & K Bank will also be reckoned as Public Sector Bank Audit experience.)
  • If applicant has audited both Public Sector Banks and Private Sector Banks in the same year, then experience will be counted as 1 year only.
  • Member will be considered to have such experience only if he/she has signed the Audit Report/conducted the Audit.
  • The experience gained in the capacity of Articled/Audit Assistant or paid employee/assistant is not to be included while mentioning the audit experience in MEF.

6. Submission of Declaration

  • The Declaration for the MEF is to be validated with One Time Password (OTP).
  • OTP will be sent to the Email-id and Mobile Number as registered in SSP of ICAI. Any modification required in email or mobile number, has to be done in SSP and will be reflected in MEF on real time basis.
  • The Declaration will be valid only if OTP is validated by all the partners/ proprietor/ Member practicing in individual name. In case, the OTP is not validated by any partner/(s), the applicant may mention the reason thereof. However, the credit of such partner will not be given to the applicant.
  • OTP of the partner who retires between 1st July 2023 and the date of submission of MEF is not required if it is updated in SSP database.
  • It is desirable that the draft MEF before submission should be shared with all the partners internally for their perusal so that they are able to validate the declaration through OTP.

7. Submission of Financial Documents

    • The Financial Documents are to be submitted by all the Applicants of MEF (Firm and continuing Partners), failing which the application cannot be submitted.
    • The Applicants are required to upload the financial documents before the submission of MEF by clicking on the icon.
    • The following Financial Documents for Financial Year 2021-2022 are to be submitted:

Partnership Firms:
    • For Firms:
      • Complete Income Tax Return in JSON format
      • Income Tax Return Acknowledgement
      • Statement of Computation of Total Income of the Firm
      • Balance Sheet as on 31st March 2022 along with Schedules
      • Income & Expenditure Account for the financial year 2021-2022 along with Schedules.
    • For Partners:
      • Complete Income Tax Return in JSON format
      • Income Tax Return Acknowledgement
      • Statement of Computation of Total Income of the Partner
Sole Proprietor / Individual practicing in individual name:
    • Complete Income Tax Return in JSON format
    • Income Tax Return Acknowledgement
    • Statement of Computation of Total Income of the Member
    • Balance Sheet as at 31st March 2022 along with Schedules
    • Income & Expenditure Account for the financial year 2021-2022 along with Schedules

 

Applicants who have opted for Presumptive Taxation scheme under Section 44ADA of Income Tax Act, 1961 and have filed their ITR accordingly for the financial year 2021-2022 shall select the respective tab in Financial Documents page. Such Applicants need not submit Balance Sheets and Income & Expenditure Account.

 

All the Financial Information shall be filled in absolute numbers only e.g. Gross Professional Receipts of the Firm of 2 Lakhs 56 thousand 2 hundred 56 rupees shall be mentioned as 2,56,256 and not as 2.56 lakhs.

8. Final Preparation of Panel for Bank Audit

  • The credit for only the continuing partners from 1st July 2023 to the date of second verification will be given.
  • In case any of the Partner(s) retires / leaves between 1st July 2023 and the date of second verification the credit will not be given for such Partner(s).
  • The credit will not be given for those Partners who have joined after 1st July 2023, even through merger. However, credit for those partners will be given next year, if continuing in the same firm.
  • In case of any paid Chartered Accountant Employee resigns between 1st July 2023 and the date of second verification and another paid Chartered Accountant Employee joins during the same period, credit will be given to such paid Chartered Accountant Employee.
  • In case, the Firm is closed/merged between 1st July 2023 and the date of second verification, the name of such firm will not be included in the Panel.
  • In case, the COP status of an individual applicant changes from full-time to part-time/no COP from 1st July 2023 to the date of second verification, such applicant will not be included in the Panel.

9. Complaint filing Mechanism

  • For any clarification / query / complaint regarding MEF 2023-24, please lodge the same under the tab “MEF Complaint Entry” available at meficai.org for quick resolution.
  • Query/ complaint can be lodged by using MRN / FRN by the Applicant and on successful lodging, a Complaint number will be generated which can be used for future references.
  • Applicant can view the status of complaints by using MRN/FRN.
  • In case, the complaint is not resolved within 3 working days, Applicant can write at mefpdc@icai.in mentioning the complaint Number or call on the following numbers between 2 PM to 5 PM on all working days by quoting Complaint Number
Ms. Priya Duggal 92055 59866
Mr. Manish Bhardwaj 92055 59865

10. Others

  • To calculate the Category you may use calculator https://app.meficai.org/Cats.
  • PDC hosts draft MEF Panel generally in the month of November so that the applicants can verify.
  • The Institute reserves right to call for additional information / documents from the Applicant as may be considered appropriate.
  • While all efforts are being taken in preparing the panel, in the event of any inadvertent mistake or omission, the Institute will not be responsible in any manner.
  • The Institute does not undertake any responsibility with regard to the allotment of audit.
  • Any modification in MEF will be accepted in compliance with the MEF/RBI Norms applicable at the time of preparation of the Panel.
  • Members are advised not to correspond directly with the authorities concerned like RBI, NABARD, etc. on matters related to empanelment.

To read more on MEF CLICK ME.

Connect with us on: LinkedIn, Telegram, Instagram, Facebook, Twitter and Youtube for regular Updates.

image_pdfPDFimage_printPrint
Tags: Due date extendedICAIICAI updatesMEFMEF due date extendedMEF formmultipurpose empanelment formtaxontips
Previous Post

Extension of time limit for Tax audit of trust and file Form 10B and Form 10BB and ITR 7

Next Post

Advisory: Geocoding Functionality for the Additional Place of Business – GST website

Related Posts

Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances
Business & Other News

Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws

May 8, 2025
Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances
Business & Other News

Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws

April 10, 2025
IDBI Bank invites online applications from practicing partnership firms of Chartered Accountants within India for Concurrent Auditor
Business & Other News

Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]

March 17, 2025
IDBI Bank invites online applications from practicing partnership firms of Chartered Accountants within India for Concurrent Auditor
Business & Other News

Statutory Audit of Trade Receivables in Indian Companies [Company law]

March 4, 2025
Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances
Business & Other News

Statutory Compliance Calendar for February 2025 | Income tax, GST and various other laws

February 7, 2025
IDBI Bank invites online applications from practicing partnership firms of Chartered Accountants within India for Concurrent Auditor
Business & Other News

Statutory Audit of Inventories for Indian Companies [Company Law]

January 7, 2025
Next Post
Data of GST website under comparison of liability declared and ITC claimed tab not available

Advisory: Geocoding Functionality for the Additional Place of Business - GST website

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Google Custom search

Recent Posts

  • Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
  • Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
  • No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
  • Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]

Recent Comments

  • k.salam on Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • Brendan Gleeson on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • Kovac Ryker on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • Hailey Bradwell on Clarification for the purposes of Section 269ST of the I.T. Act in respect of dealership/distributorship contract in case of Co-operative Societies
  • ADMIN on Submit response to confirm/ revise the refund claim – Why are you getting this mail and how to get refund

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Browse Topics by Date

June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30  
« May    
  • GSTR 9/ 9C extended : AGAIN

    GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning

    6537 shares
    Share 2615 Tweet 1634
  • How to pay Membership and COP fees of ICAI for 2020-21 |

    6444 shares
    Share 2578 Tweet 1611
  • Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods

    5902 shares
    Share 2361 Tweet 1476
  • Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020

    4855 shares
    Share 1942 Tweet 1214
  • SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type

    4083 shares
    Share 1633 Tweet 1021

Recent Notification

Compliance due dates for June, 2020 | Compliance calendar for June, 2020 | 20+ compliances

Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws

May 8, 2025
Tatva Chintan Pharma Chem Limited IPO details and capital gain tax on selling IPO allotment | Capital gain on IPO

ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]

May 2, 2025

RSS Taxontips

  • Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
  • ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
  • Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
  • No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
  • Statutory Audit of Cash and Cash Equivalents in Indian Companies [Company Law]
  • Statutory Audit of Trade Receivables in Indian Companies [Company law]
  • Statutory Compliance Calendar for February 2025 | Income tax, GST and various other laws
  • Budget 2025 updates | Income tax and GST updates
  • Assessee receiving message for 80GGC donation for AY 2022-23 from Income tax department
  • Statutory Audit of Inventories for Indian Companies [Company Law]

Categories

  • Budget News
  • Business & Other News
  • Case Laws
  • GST news
  • Income Tax News
  • News

Site menu

  • Home
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST Registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • Q & A
  • About us
  • Contact us
Taxontips

TaxOnTips provides you all tax related solutions in easy way and update you with its regular updates & notifications Visit us for details.
We are based in Jaipur, India

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

No Result
View All Result
  • Login/Signup
  • Income Tax
    • Income Tax Return
    • Tax Notice/ Personal consultation
    • Compliance Notice
    • Faceless Assessment
  • GST
    • GST registration
    • GST Consultation
  • News
    • Income Tax News
    • GST news
    • Budget News
    • Business & Other News
  • About us
  • Contact us
  • Ask an expert/ Talk to an expert
  • Q & A
  • Privacy Policy
  • Terms of use

© 2019-2023 Taxontips.com - Tax assistance at your Fingertips

Book Phone consultation with expert

Sitting home or at your office and don't have time to visit CA's office or don't know where to consult CA. Book your consultation with an expert practicing Chartered Accountant and get your query solved.

Book a phone consultation for 30 minutes with our expert at a very basic cost.

Book consultation

No thanks, I'm not interested!