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.