Friday, 27 December 2013

Studying Law After XIIth

Hello people!  So January is just around the corner and  so are your pre-boards!

I'm sure you'd be juggling between various issues at this moment. Like pre-boards, boards, filling up forms for colleges, and most importantly which course or programme to take up? Frankly, please don't get so paranoid, it'll all get over soon!! Just focus on your present, forget what's already happened,  and plan your future carefully as thats what will help you!

Further, regarding the greater concern in your lives, which you'd be hearing each day from those annoying old aunties, "Beta, aage kya karna chahte ho?". Don't feel lost or get demotivated if you haven't thought of anything yet, it's okay, you are not the only one!

Tuesday, 24 December 2013

CMA June 2014 Exam: Companies Act 2013 Not Applicable

As per Notification No. BOS/01-12/13-14 dated 18th December 2013 of the Institute of Cost Accountants of India, Companies Act 2013 will not be applicable for testing in the June 2014 session of the Institute's examinations.

The applicability of the new Act for the December 2014 session will be notified in due course.

Sunday, 15 December 2013

Gurgaon Property Tax Calculator & Form

The Municipal Corporation of Gurgaon saw a huge rush at their office on 10th December, 2013, which was the last day to pay property tax and avail a rebate of 30%.

To ease the pressure and give Gurgaon residents some more time to pay their taxes, the MCG extended the Property Tax deadline to 31st December, 2013.

Thursday, 12 December 2013

CPE Hours Requirement for CA's (2011-2013)

Clarification on Applicability of CPE hours requirement for the newly enrolled members during the block of three years 1.1.2011 to 31.12.2013. – (09-12-2013)

1. As per the Statement on CPE a member is exempted only for the particular calendar year during which he gets his membership for the first time.

2.  For Example: members enrolled at any point of time during the Calendar year 2011 (1st January-31st December, 2011) are exempted for the Calendar Year 2011. For the Calendar Years 2012 & 2013 they would be required to comply with proportionate CPE hours requirement. Members enrolled during the year 2011 with COP would be required to complete 60 CPE hours in the calendar year 2012 and 13. Out of 60 CPE hours, minimum 40 CPE hours should be under Structured Learning and 20 CPE hours under Structured/Unstructured Learning as per choice and Non-COP holders are required to complete 30 CPE hours under Structured/Unstructured Learning as per choice.

Wednesday, 11 December 2013

Tax Saving Investments: Section 80C of Income Tax Act

Background for Section 80C of the Income Tax Act (India) / What are eligible investments for Section 80C:

Section 80C replaced the existing Section 88 with more or less the same investment mix available in Section 88.  The new section 80C has become effective w.e.f. 1st April, 2006.  Even the section 80CCC on pension scheme contributions was merged with the above 80C.  However, this new section has allowed a major change in the method of providing the tax benefit.  Section 80C of the Income Tax Act allows certain investments and expenditure to be tax-exempt.  One must plan investments well and spread it out across the various instruments specified under this section to avail maximum tax benefit. Unlike Section 88, there are no sub-limits and is irrespective of how much you earn and under which tax bracket you fall.

The total limit under this section is Rs 1 lakh. Included under this heading are many small savings schemes like NSC, PPF and other pension plans. Payment of life insurance premiums and investment in specified government infrastructure bonds are also eligible for deduction under Section 80C

Most of the Income Tax payee try to save tax by saving under Section 80C of the Income Tax Act.
However, it is important to know the Section in toto so that one can make best use of the options available for exemption under income tax Act.   One important point to note here is that one can not only save tax by undertaking the specified investments, but some expenditure which you normally incur can also give you the tax exemptions.

Besides these investments, the payments towards the principal amount of your home loan are also eligible for an income deduction. Education expense of children is increasing by the day. Under this section, there is provision that makes payments towards the education fees for children eligible for an income deduction
Sec 80C of the Income Tax Act is the section that deals with these tax breaks. It states that qualifying investments, up to a maximum of Rs. 1 Lakh, are deductible from your income. This means that your income gets reduced by this investment amount (up to Rs. 1 Lakh), and you end up paying no tax on it at all!
This benefit is available to everyone, irrespective of their income levels. Thus, if you are in the highest tax bracket of 30%, and you invest the full Rs. 1 Lakh, you save tax of Rs. 30,000. Isn’t this great? So, let’s understand the qualifying investments first.

How to Prepare for Class XII Boards

Hey People! It’s December, for some it is Christmas month and for some it is one-month-less-in-BOARDS.

I know, many of you may won’t peruse it further after reading ‘BOARDS’.
BOARDS, as for some, give them a horror feeling, some feel a trickling of terror in their veins for a second, some feel goosebumps, some think oh-shit-school-life-over.

See, little nervousness is obvious, but be sure it doesn’t effect your studies or health.
Try to keep yourself calm after reading my further words.

You’ve barely 3 months left, actually less than 3 months, in which February is of 28 days and unfortunately 2014 is not a leap year. Oh no no! Please don’t hate February, it is my birthday month. You have already missed first 8 days of December. Sorry, I’m not in a mood to scare you, but to make you aware of reality.

BOARDS will give you a thunder effect in your body, I’ve gone through the same conditions but it’s not the time to get panic but to pull up your socks and to give your best. It’s the time to KEEP CALM AND STUDY. Give your everything to these three months and trust me these three months, in return will give you your bright future.

Tuesday, 10 December 2013

ICSI: Admit Cards for December 2013 Attempt

Admit cards for December 2013 attempt are available. Click here to download the admit cards.

Sunday, 24 November 2013

Admit cards for CA-CPT December 2013

Click here to download the admit card for CA-CPT December 2013 attempt

Tuesday, 5 November 2013

Indian Evidence Act, 1872 - Bare Act

Click here to download the Indian Evidence Act, 1872

Actuarial Sciences: Frequently Asked Questions

Frequently Asked Questions:

Q. How frequently will the entrance exam be held? 
A. The exam will be held at least twice in a year. As of now the planned months are: December and June.

Q. What is the mode of examination? Is it online or offline?
A. It is a computer based examination where the examinees have to be present at t heir chosen testing centre administered initially in forty one cities within India at fifty one centers.

Monday, 4 November 2013

Consumer Protection Act, 1986 - Bare Act

Click here to download the Consumer Protection Act, 1986

Actuarial Sciences: Past Question Papers and Solutions

Each examination session is known as a "Diet" in the actuarial sciences course. You can access the past question papers and answers from the following links.

Sunday, 3 November 2013

Information Technology Act, 2000 - Bare Act

Click here to download the Information Technology Act, 2000

Simplified Procedures for Transmission of Securities


Sub: Standardisation and Simplification of Procedures for Transmission of Securities

1. SEBI has reviewed the process being followed by the Share Transfer Agents (STAs) and the Depositories / Issuer companies (in-house STAs) for effecting transmission of securities held in physical as well as dematerialized mode.

Saturday, 2 November 2013

Specific Relief Act, 1963

Click here to download the Specific Relief Act, 1963

Friday, 1 November 2013

Tuesday, 29 October 2013

Transfer of Property Act, 1882 - Bare Act

Click here to download the Transfer of Property Act, 1882

Sunday, 27 October 2013

About Actuarial Sciences

What do Actuaries do?

Make Financial Sense of the Future

Actuaries are experts in assessing the financial impact of tomorrow's uncertain events. They enable financial decisions to be made with more confidence by:

- Analyzing the past - Modelling the future - Assessing the risks involved, and - Communicating what the results mean in financial terms.

Thursday, 24 October 2013

Payment of Wages Act, 1936 - Bare Act

Click here to download the Payment of Wages Act, 1936


Who should take the CPA exam?

CPA exams may be taken by individuals interested in working with MNCs as finance professionals.

Which organisations take part in delivering the CPA exams?

AICPA (American Institute of Certified Public Accountants) – Prepares and administers the Uniform CPA Examinations

State Boards of Accountancy –There are 55 Boards of Accountancy (for 50 US states and 5 US jurisdictions) each of which set various eligibility criteria for candidates to qualify for the CPA exams

National Association of State Boards of Accountancy (NASBA) - All the state & territorial boards of accountancy are members of NASBA. NASBA plays the role of a central clearinghouse where all jurisdictions submit information on eligible candidates and from which all jurisdictions receive advisory scores and other examination data

Prometric –Provides the infrastructure for computerized testing of the Uniform CPA Examinations through its network of computer-based test centers

Wednesday, 23 October 2013

Minimum Wages Act, 1948 - Bare Act

Click here to download the Minimum Wages Act, 1948

About CPA (USA)

CPA stands for Certified Public Accountant, and refers to a trusted financial advisor who helps individuals, businesses, and other organizations plan and reach their financial goals. It is the highest accounting credential in the United States, and its exams are conducted by the American Institute of CPAs (AICPA). The CPA license is issued by one of the 55 states or territories of the United States all of which are members of NASBA (National Association of the State Boards of Accountancy).

CPA is the US equivalent of the Indian CA qualification and there is a huge demand for CPAs in the USA, as well as in other countries of the world where American companies have operations.

Tuesday, 22 October 2013

CIMA - Subjects' Syllabus Guide (Level 3 - Strategic)

Strategic Level (level III)
Interacting with Competitive Env. Mgmt.
Management Control Systems
Formulation of Financial Strategy
Change Management
Risk and Internal Ctrl.
Financial Decisions
Evaluation of Strategic Options
Review and  Audit of Control Systems
Investment Decisions and Project Control
Implementation of Strategic Plans
Management of Financial Risk

Risk and Control in Information Systems

For more exam resources, click here

Monday, 21 October 2013

CIMA - Subjects' Syllabus Guide (Level 2 - Management)

Management Level (Level II)
Str. Mgt. & Assessing Competitive Env.
Pricing & Product Decisions
Group Financial Statements
Project Management
Cost Planning & Competitive Advantage
Issues in Recognition & Measurement
Management of Relationships
Budgeting & Mgt. Control
Analysis & Interpretation of Financial Accounts

Control & Performance Measurement of Responsibility Centres

Developments in External Reporting


For more exam resources, click here

Friday, 18 October 2013

Customs Act, 1962 - Bare Act

Click here to download the Customs Act, 1962

CIMA(London) - Exam Resources

Exam Resources
Operational Level (Level 1)
E1: Enterprise Operations
P1: Performance Operations
F1: Financial Operations
Management Level (Level II)
E2: Enterprise Management
P2: Performance Management
F2: Financial Management
Strategic Level (level III)
E3:Enterprise Strategy
P3: Performance Strategy
F3: Financial Strategy

For more information  and resources on CIMA(London), click here

Thursday, 17 October 2013