Sunday, November 27, 2011

TDS Chart For Direct Tax Code ( DTC )

In DTC There are Implementation changes and some Changes in Salary TDS.

For Making it More Clear to Understand I made an Excel with an Comparative to Income Tax Act, 1961.

Click Here

Do Put Your Comment To Make it More Easier.

Thank You


Saturday, November 12, 2011

Period for expiry of cheaque 3 months

Period for expiry of cheaque is 6 months As per the new notification of RBI From 1st April, 2012 it's going to be 3 months only.  RBI/2011-12/251 DBOD.AML BC.No.47/14.01.001/2011-12 November 4, 2011   The Chairmen/Chief Executive Officers All Scheduled Commercial Banks (excluding RRBs)/Local Area Banks   Dear Sir,   Payment of Cheques/Drafts/Pay Orders/Banker’s Cheques In India, it has been the usual practice among bankers to make payment of only such cheques and drafts as are presented for payment within a period of six months from the date of the instrument.   2.  It has been brought to the notice of Reserve Bank by Government of India that some persons are taking undue advantage of the said practice of banks of making payment of cheques/drafts/pay orders/banker’s cheques presented within a period of six months from the date of the instrument as these instruments are being circulated in the market like cash for six months. Reserve Bank is satisfied that in public interest and in the interest of banking policy it is necessary to reduce the period within which cheques/drafts/pay orders/banker’s cheques are presented for payment from six months to three months from the date of such instrument. Accordingly, in exercise of the powers conferred by Section 35A of the Banking Regulation Act, 1949, Reserve Bank hereby directs that with effect from April 1, 2012, banks should not make payment of cheques/drafts/pay orders/banker’s cheques bearing that date or any subsequent date, if they are presented beyond the period of three months from the date of such instrument.   3.  Banks should ensure strict compliance of these directions and notify the holders of such instruments of the change in practice by printing or stamping on the cheque leaves, drafts, pay orders and banker’s cheques issued on or after April 1, 2012, by issuing suitable instruction for presentment within the period of three months from the date of the instrument.   4.  Please acknowledge receipt   Yours faithfully, (Deepak Singhal) Chief General Manager in-Charge  

Wednesday, November 9, 2011

Solution For Taxation Nov,11 by FCA Manish Dafria

Dear CA Student
Its Our Great Pleasure to Provide you with the Solution of Nov,11 Taxation Paper Group 1 of FCA Manish Dafria ( Tax King ) :

1(a) (i) 4,90,000 (ii) 3,84,000



1(b)
Madan – Total Income – 3,80,500, Tax – 19,620 [(9050+10000)+Cess]
Hema – Total Income – 1,75,000, Tax – Nil
HP income for full year taxable for Madan



1(c)
15,14,053 assuming figures are inclusive of service tax.
(Sports coaching fees not taxable, rest all are taxable)



1(d) 1,50,000



2(a) 10,17,000
(Basic 6,50,000, DA 2,60,000, Bonus 70,000, PF 26000, Prof. Tax Perquisite 2000, Motor Car 2400 X 5 = 12000 Less Prof. Tax deduction 3000)



3(a) AY 2011-12 – LTCG 33,75,986, AY 2012-13 – STCG 40,00,000



3(b) 144741 - assuming figures are inclusive of service tax.



4(a)
(i) Not allowed


(ii) Depreciation @ 25% on 20,00,000 (full year)


(iii) If scientific research is approved Allowed 200% of 8,00,000 else allowed 100% of 8,00,000


(iv) Bad debts Allowed Rs. 5,00,000


(v) No deduction


(vi) No deduction


(vii) Not allowed from Business Income, but allowed as deduction u/s 80GGB


(viii) Taxable



5(a)
Total Income – 2,90,000 (carry forward business loss is allowed as set off but unabsorbed depreciation is not since assessee has opted for Sec. 44AE)


5 (c) 5,38,000


6(a) (i) Resident but Not Ordinary Resident

(ii) 2,50,000 (Legal Exp. Not allowed as deduction)


7(a) (ii)
(a) 4,200
(b) No TDS being payment for personal purpose



7(b)
56,21,034 Assuming figures are inclusive of service tax.



7(c) Gross Product – 12,000, Consumption – 2,000

Prepration Of Group 2 : IPCC

One should keep one thing in mind that "IPCC is not passed by only hard study the way (and easier way too) to pass the IPCC is SMART STUDY". And I believe in Smart study. That's why I am writing these articles. Now I come to my point.

This article is 2nd part of my last article "Last Night Preparation Of IPCC".

I have already discussed about the preparation of 1st group...now we will discuss about 2nd group.

Now we come in two different situations. 1st one is for those who has their both group examination and 2nd one is those who has only 2nd group exam. We will discuss one by one about both the situation.

Now we start with 1st one.

After coming home after home after tax paper Don't just leave every thing. My advice is that Advance a/c course is not much big so you should study any other subject on 1st day. My personal advice is that (which I also followed in my exam) you should study Info. After coming home from tax paper because ITSM paper create a big problem for student on 9th evening read any chapter of IT which you feel unprepared get up early in the 10th morning and don't just rush to start a.a/c till afternoon you should study IT because it will help a lot on the day of ITSM EXAM at around 2 p.m. Start your a.a/c with "AS" (The most important chapter). Do this chapter very well, now complete department and branch, these chapter looks easy but tricky question may come from it. So be ready for it on 10th complete these chapter only on 11th morning Start preparation with Company and do the rest chapter. Don't get panic if you can't remember the Schedules. Don't forget that we have a option of leavening a question in exam. Now on exam day just revise small concepts and then go to exam after coming home from exam take a sweet nap of 2 hour and after getting up start your preparation for audit. Start with COMPANY AUDIT and complete it in night. On the next day get up and revise special audit then SA (Try to remember SA no. Of some important SAs) till after noon finish all and then complete vouching & verification and then complete the rest chapter on the exam day just revise SA and company audit, go to exam after coming home from exam just prepare your self for the Most dangerous paper ITSM.

If you will follow me this paper won't be dangerous.

1st of all start your preparation with FLOW CHART then Decision table and then No. System, do all 3 chapter till night. And as you get up in morning start study with Networking, then internet then DBMS and at last do the 1st chapter, just try to learn all the Points and Some technical Words. That will fetch you good marks, finish your IT till after noon. Now start your preparation for SM, my advice is to start your preparation From last to 1st, means Start your preparation with last chapter then 2nd last then 3rd last. And so on.

Same advice here just learn all the points. And MOST IMPORTANT for ITSM. Don't forget to complete "PRACTICE MANUAL" 40 to 45 marks paper will be from it.

Now we come to the 2nd situation for those who are giving 2nd group only.

There is not much change in the preparation plan..the only change is that you can start your Advance accounts study 3 or 4 days before the exam and in these days they can cover 2 or 3 chapters of ITSM along with a.a/c, guys Covering some chapter of ITSM is not a wastage of time it's will help You passing ITSM Paper.

Now in the last I can say is do good in the exam, try your best.

See you Soon in the Finals.

In last just I wanna say BEST OF LUCK For exam do well and STUDY HARD NOW.

And PARTY HARDER LATER.

Best wishes.

Thanks for reading this. If you wanna give any suggestion or you have any query then just mail me at pankaj.jpr18@gmail.com

Sunday, November 6, 2011

IPCC Nov,11 Cost & FM Paper Download

Download Nov,11 Paper of oCost Accountnacy & Financial Management

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TIPS TO UTILIZE 15 MINUTES


Super tips:
_____________________________

Extra 15 minutes: Proper utilization
_____________________________
... * Mark all the question in this given time which you wanted to attempt
* Give a number besides question number when you will attempt that question (1st, 2nd, 3rd etc.)
* Read calmly, if you find the paper tough than sit and dont think too much about paper, it will affect the question which u know well
* Start solving some short question with the help of pencil in question paper so that it will be easy when u were solving it.
* If time left after reading all the question write the formulae based question's formula in the Question paper so you can remember while solving this

Bhavin Pathak

Auditing Paper CA Final Nov,11 Download

Download Nov,11 CA final Audit Paper

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Thursday, November 3, 2011

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