Tuesday, February 24, 2009

Govt reduces excise duty, service tax by 2 percent

Government today reducedrates of excise duty and Service tax by two per cent. The general excise duty has been reduced from 10 per cent to 8 per cent. The rate of service tax cut from 12 per cent to 10 per cent. Duty on bulk cement has been reduced from 10 per cent to 8 per cent.

Saturday, February 21, 2009

CA Final - Inputs for exams - Paper 8 - In Direct Taxes

Hi Frenz,

I'm just putting down the points that i followed for the CA - Final exams. The books / points referred in the note below need not necesarily be followed. You can always follow other books/ points.

Paper 8 – In Direct Taxes

1. (Gurukripa - Padhuka Publications) / Vaideeshwaran / Ajay Jain book is sufficient. (Follow only one latest book)

2. If you have attended classes than first read class notes and then read the reference material

3. Read the provisions deeply because the questions will be very tricky.

4. Time will NOT be a constraint. You can attend 100 marks very easily. (This is a scoring subject. Target should be above 70 marks)

5.Preference of Study can be as follows
a. Excise
b. Customs
c. Cenvat
d. Service Tax (32 Services)

6. The pattern of the question paper is as follows:

a. You have to attend 6 out of 9 questions
b. No choice in ST Questions

8. Please go through the RTP prescribed for your attempt, atleast 10 marks comes from RTP

9. Please read recent amendments & get the amendments book from the Institute relevant to your attempt. Atleast 20 marks will come amendments

10. Please get the select case laws book from the institute relevant for your attempt. Atleast 10 marks will come from the select case laws.


Further Suggestions / Inputs / Comments are invited.
Thank You.

Friday, February 6, 2009

CA Final - Inputs for exams - Paper 7 - Direct Taxes

Hi Frenz,

I'm just putting down the points that i followed for the CA - Final exams. The books / points referred in the note below need not necesarily be followed. You can always follow other books/ points.

Paper 7 – Direct Taxes

1. (Gurukripa - Padhuka Publications – Authored Sekar) / Manoharan / Singhania is sufficient

2. If you have attended classes than first read class notes and then read the reference material

3. Read the provisions deeply because the questions will be very tricky.

4. Time will be a constraint. You can spend at the max half an hour for each question. Always try to attend 100 marks but don't lose heart if you are not able to attend 100 marks. Attending anything between 90 to 100 marks is really good.

5. Just 2 months before the exams Mr. Sekar /TG Suresh will discuss the important topics for the relevant attempt. At least 50% of the questions in exams are from his important questions. So check out with people who have completed the latest batch of his classes.

6. When you go through the above authored material you will find many similar problems in a topic, while doing your first reading cut out the similar problems so that before exams you have the least problems for preparing.

7. The pattern of the question paper is as follows:

a. You have to attend all the questions (There is no choice)

8. Please go through the RTP prescribed for your attempt, atleast 10 marks comes from RTP

9. Please read recent amendments & get the amendments book from the Institute relevant to your attempt. Atleast 20 marks will come amendments

10. Please get the select case laws book from the institute relevant for your attempt. Atleast 10 marks will come from the select case laws.

11. Keep practising the problems during your preparations. It will give you momentum and will let you know which problem will take how much time in exams

12. Wealth Tax – Sure 10 marks.

13. Assessment Procedure / Appeals / Refunds / Penalties – 10 marks sure

14. 10 -15 marks problem surely (Anyone from the following topics)

a. Sec 115 JB
b. Partnership
c. Computation of Taxable Business Income
d. Computation for Individual / Salary

Further Suggestions / Inputs / Comments are invited.
Thank You.

Tuesday, February 3, 2009

Important Announcement - CA Examinations 2009 - (03-02-2009)

IMPORTANT ANNOUNCEMENT
Since the Elections to the Lok Sabha and Legislative Assemblies of some States are likely to be held in the months April and May, 2009, it has been decided to hold the next Chartered Accountants PE-II, PCE, Final (Old and New course), IRM, MAC (Part I), TMC (Part I), CMC (Part I), ITL & WTO Examinations tentatively from 1st to 15th June, 2009 instead of May, 2009. Similarly, the next Common Proficiency Test (CPT) in paper-pencil mode is likely to be held tentatively on Sunday, the 28th June, 2009. The detailed Examination Notification containing the exact date schedule for the various examinations and the examination Centres will be issued shortly and hosted on the Institute's website.

This is for the advance information of students and all others concerned.

(G. SOMASEKHAR)
SR. JOINT SECRETARY (EXAMS)