Announcement relating to taxation papers for students appearing in May 2010 examination PE-II [Income-tax and Central Sales Tax], PCC/IPCC [Taxation], Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws] - (22-02-2010)

Announcement relating to taxation papers for students appearing in May 2010 examination PE-II [Income-tax and Central Sales Tax], PCC/IPCC [Taxation], Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws] - (22-02-2010)

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Announcement relating to taxation papers for students appearing in May 2010 examination  

  PE-II [Income-tax and Central Sales Tax], PCC/IPCC [Taxation],

Final (Old) Course [Direct Taxes] and Final (New) Course [Direct Tax Laws]

(1)   Fringe Benefit Tax is not applicable from A.Y.2010-11 and hence, is not relevant for May 2010 examination. 

(2)   Consequential Notification of new perquisite rules on 18.12.2009 not to apply for May 2010 examination

Consequent to abolition of fringe benefit tax, certain benefits taxed earlier as fringe benefits in the hands of the employer would now be taxable as perquisites in the hands of the employees.  For this purpose, new perquisite valuation rules have been notified vide Notification No.94/2009/ F.No.142/25/2009-S.O.(TPL), dated 18.12.2009 with retrospective effect from 1.4.2009.  However, the new perquisite valuation rules would be applicable only for November 2010 examination.  They would not be applicable for May 2010 examination, since only notifications/circulars issued up to 31^st October, 2009 are relevant for May 2010 examination.

(3)   Applicability of erstwhile Rule 3 for May 2010 examination 

(a)   Therefore, the erstwhile Rule 3 would be applicable for May 2010 examination. All the perquisites which were earlier taxable in the hands of the employee, only if the employer was not liable to pay fringe benefit tax, would now be taxable in the hands of the employee in all cases, since no employer is liable to pay fringe benefit tax for A.Y.2010-11. 

(b)   Rule 3(7), providing for valuation of “other fringe benefits and amenities”, is based on the terms of the provisions contained in the erstwhile clause (vi) of section 17(2).  The Finance (No.2) Act, 2009 has amended section 17(2) by including certain other perquisites under clauses (vi) and (vii) of section 17(2). Consequently, the residual clause, namely, clause (viii) of section 17(2), now provides for taxing the value of any other fringe benefit or amenity as may be prescribed.  Therefore, the Rule 3(7), prescribing the fringe benefits or amenities in terms of the erstwhile clause (vi) [now clause (viii)] of section 17(2)] have been given in the latest study material relevant for May 2010 examination.

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ISCA NOTES & Information Technology ACT 2008 (2 FIles uploaded)

Friends.. There might be a sure shot question in the forthcoming exam…

The Information Technology Act 2000 is covered under Chapter 14 of Paper 6: MICS ( Final Old ) and Chapter 10 of Paper 6: Information Systems

This act was amended in the Year 2009. And keeping in mind the institute’s eternal inclination towards all the recent amendments I would say that we all should go through amendments made in the Act (since the changes are of significant importance too!).

and i am also hereby uploading ISCA (CA FInal NEW)notes with past papers analysis which are prepared by Nikunj S. Shah B.Com., LL.B., FCA, DISA(ICA), CIA(USA), ACFE --- which would sure shot help u to score well marks.



Or click here to download: http://www.box.net/shared/qfbgsa7vyf

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CA Results Analysis

RESULT ANALYSIS OF CHARTERED ACCOUNTANTS PROFESSIONAL EDUCATION ( EXAMINATION-II) , PROFESSIONAL COMPETENCE AND INTEGRATED PROFESSIONAL COMPETENCE EXAMINATIONS HELD IN NOVEMBER-2009

P R E S S R E L E A S E

The results of the Chartered Accountants Professional Education Examination-II (PEE-II) ,Professional Competence(PCE) and Integrated Professional Competence Examinations(IPCE) were declared recently.          The details of percentage of candidates passed in the above said examinations are given below: EXAMINATION GROUP No.of candidates appeared No.of candidates passed % of pass PEE-II Both Group 3407 43 1.26 Group – I 7025 682 9.71 Group - II 9191 525 5.71 EXAMINATION GROUP No.of candidates appeared No.of candidates passed % of pass PCE Both Group 37661 5810 15.42 Group – I 46955 12053 25.66 Group - II 58180 15275 26.25 EXAMINATION GROUP No.of candidates appeared No.of candidates passed % of pass IPCE Both Group 7601 844 11.10 Group – I 25587 2942 11.50 Group - II 7737 1038 13.42   Tuesday, February 02, 2010 Ministry of Corporate Affairs THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA DECLARES RESULTS OF PROFESSIONAL EDUCATION EXAMINATION ( PEE-II ), PROFESSIONAL COMPETENCE EXAM ( PCE ), AND INTEGRATED PROFESSIONAL EDUCATION EXAMINATION ( IPCE ) 17:52 IST The Institute of Chartered Accountants of India ( ICAI ), functioning under the aegis of Ministry of Corporate Affairs, here today announced the results of Professional Education Examination ( PEE- II ), Professional Competence Exam (PCE ) and Integrated Professional Education Examination ( IPCE ) held in November, 2009. In the PEE- II Shri Avinash Karwa of Solan ( H.P.) topped by scoring 64.5%. Shri Nafih Omer of Dubai ( UAE ) came second and Kumari Isha Sen of Allahabad has been placed third. Kumari Rupali Gupta of Jaipur topped the PCE by scoring 76 % , whereas Kumari Lakshami Niranjani G. of Coimbatore came second with 74.5 %. Shri Nitin Naraindas Wadhwani of Ulhasnagar has been placed third with 73.5 %. In the IPCE Kumari Amita Maheshwari of Jodhpur was placed first by scoring an impressive 77 %. Second place was achieved by Kumari Bhumika Rajiv Shah of Mumbai by scoring 75 % , whereas Kumari Sonam Bhandari of Howrah with 74.14 % came third. The Chartered Accountancy Examination is held twice every year. The Curriculum of the Chartered Accountancy Course has been designed, developed and maintained in such a way that the members of the Profession can become the valued Trustees of the World Class Financial Competence, Good Governance and Competitiveness. ------------------ KKP/ska

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Friends annoyed refreshing website for CA Results---here its gets directly refreshed

 Friends you may b Anoyed refreshing ICAI website 4 results then visit http://taxpertstudents.blogspot.com/ page gets refreshed Automatically

Best of luck for the results. 




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Supplementary Study Paper for PCC/IPCC and CA Final May and Nov 2010 students

Supplementary Study Paper for PCC/IPCC and CA Final Students May and Nov 2010 Exams

Hereby i m attaching herewith the link to download the Supplementary Study paper

PCC/IPCC: http://www.box.net/shared/u16un066ij 

CA Final: http://www.box.net/shared/7udnv1g3vp 

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FBT ADJUSTMENT AGAINST ADVANCE TAX-CBDT CIRCULAR

CIRCULAR NO

2/2010, Dated: January 29, 2010

Sub: Adjustment of “Advance Tax in respect of Fringe Benefits” for Assessment Year 2010-11 against “Advance Tax” – matter regarding.

The Finance Act, 2005 introduced a levy namely Fringe Benefit Tax (FBT) on the value of certain fringe benefits as contained in Chapter XII H (Sections 115 W to 115 WL) of Income Tax Act, 1961. By the Finance (No. 2) Act, 2009 a new Section 115 WM was inserted to abolish the FBT with effect from Assessment Year (A.Y.) 2010-11. Consequently, benefits given to employees are taxed as perquisites in the hands of employees in terms of amendments to Clause 2 of Section 17 of Income Tax Act, 1961. However, during the current Financial Year 2009-10 some assessees have paid “advance tax in respect of fringe benefits” for Assessment Year 2010-11. In such cases the Board has decided that any installment of “advance tax paid in respect of fringe benefits” for A.Y. 2010-11 shall be treated as Advance Tax paid by assessee concerned for A.Y. 2010-11. The assessee can adjust such sum against its advance tax obligation in respect of income for A.Y. 2010-11 or in case of loss etc claim such payment as refund as advance tax paid in A.Y. 2010-11.

2. This circular may be brought to the notice of all officers in the field for compliance.

Hindi version to follow

F. N0.385/05/2010-IT (B)

(Ansuman Pattnaik)
Director (Budget)

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Results of the Chartered Accountants PE–II, PCE and IPCE held in November, 2009 are likely to be declared on Friday, the 29th January, 2010 around 2 P.M. - (21-01-2010)

January 21, 2010
The results of the Chartered Accountants Professional Education – II, Professional Competence Examinations and Integrated Professional Competence Examination held in November, 2009 are likely to be declared on Friday, the 29th January, 2010 around 2 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank) on all India basis will be available on the following website:

http://www.caresults.nic.in

Arrangements have also been made for the students desirous of having results on their e-mail addresses to pre-register their requests at the above website, i.e., http://www.caresults.nic.in from 22nd January, 2010. All those registering their requests will be provided their results through e-mail on the e-mail addresses registered as above immediately after the declaration of the result.

Further facilities have been made for students of Professional Education – II, Professional Competence Examinations and Integrated Professional Competence Examination held in November, 2009 desirous of knowing their results with marks on SMS. The service will be available through MTNL, India Times and Reliance.

For getting results through message students should type:

i) for Professional Education - II Examination result the following

CAPE2(Space)XXXXX (Where XXXXX is the five digit PE II examination roll number of the candidate)

e.g. CAPE2 00171

ii) for Professional Competence Examination result the following

CAPCE(Space)XXXXX (where XXXXX is the five digit PCE examination roll number of the candidate)

e.g. CAPCE 00197

iii) for Integrated Professional Competence Examination result the following

CAIPCE(Space)XXXXX (where XXXXX is the five digit IPCE examination roll number of the candidate)

e.g. CAIPCE 00297

and send the message to:

52001 - for DOLPHIN AND TRUMP users only

58888 - for all mobile services - India Times

51234] - for Reliance subscribers (Also accessible through R-World and Voice Portal – To call 51234815 from Reliance Mobiles)

(G. SOMASEKHAR)
ADDITIONAL SECRETARY (EXAMS.)

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