Monthly Archives: February 2013

Tax Saving Tips u/s 40(b)

Section 40(b) places a restriction on firm on the payment of remuneration, interest, bonus, commission or interest to its partners.

In some cases it is not recommended to pay salary or interest to partners as it will ends up with the increment of tax burden on partners u/s 28(v).

Here are some events where a Firm should avoid giving interest or salary to its Partners: Read the rest of this entry


Various types of Life Insurance Policies

What is a life insurance policy?

life insurance policy provides financial protection to your family in the unfortunate event of your death. At a basic level, it involves paying small sums each month (called premiums) to cover the risk of your untimely demise during the tenure of the policy. In such an event, your family (or the beneficiaries you have named in the policy) will receive (more…)

Key Features of Licensing of New Banks in Private Sector Guidelines

INDIA-ECONOMY-RBIKey features of the guidelines are:

(i) Eligible Promoters: Entities / groups in the private sector, entities in public sector and Non-Banking Financial Companies (NBFCs) shall be eligible to set up a bank through a wholly-owned Non-Operative Financial Holding Company (NOFHC).

(ii) ‘Fit and Proper’ criteria: Entities / groups should have a past record of sound credentials and integrity, be financially sound with a successful track record of 10 years. For this purpose, RBI may seek feedback from other regulators and enforcement and investigative agencies. (more…)

Change in CPT Passing Criteria

SLMS.jpgRevised passing requirements for Common Proficiency Test (CPT) effective from June, 2013

it is notified for general information that
the passing requirements of CPT effective from June, 2013 shall be as under:-

“A candidate for the Common Proficiency Test shall ordinarily be declared to have passed the test if he
obtains at one sitting a minimum of 30% marks in each section and a minimum of 50% marks in the aggregate of all the sections, subject to the principle of negative marking, in such manner
as may be determined by the Council, from time to time.” Read the rest of this entry

Revised Draft Training Guide for Articleship

The Institute of Chartered Accountants of India have released the Revised Draft Training Guide regarding the 3 Years of Practical Training to be undergone by the Chartered Accountancy Students

The Institute have invited for the comments and suggestions from all the stakeholders on the Revised Draft Training Guide

Click Here to view the Revised Draft Training Guide

FAQ on Verification of Marks/Answer sheets

Frequently Asked Questions on verification of Marks:
Please note that this paper is merely attempt to provide answers to questions on the subject,posted to us,  by the candidates from time to time, to the extent possible and with references to the extant scheme of examination. However, this compilation is neither exhaustive not does it purport to be a source of complete information on the subject. Hence, candidates are advised, to refer to the “Guidelines Notes” supplied along with the examination application form, besides referring to the Charted Accounts Regulations, 1988.
1. What is meant by verification of marks? Read the rest of this entry

New Tax Planning Guide 2013

taxplanningThis book contains various plans for reducing your tax payable Hope it will be helpful

Download the File here

Due Dates Chart 2013

imagesThis file consists of all statutory and other due dates for the year 2013

Download the file here

New President and Vice President elected to ICAI

     Here are the faces of new leaders of ICAI

President – CA Subodh kumar Agarwal

Vice President – CA K Raghu


E Handbook On Point Of Taxation rules

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