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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Import & export rate for the month of January & February (Issued by custom authorities)

Click at the below mentioned link to download
January Rates:  Exchange rates

February Rates: Exchange rates

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

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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