CA Final Nov 2013 Result CPT December 2013 Result on Caresults.nic.in

CA Final Nov 2013 Result, CPT December 2013 Result on Caresults.nic.in, Result of CA Final November 2013 Exams, CPT December 2013 Result, Check CA Final November 2013 Result, Check CPT Dec 2013 Result, CPT December 2013 Name Wise Result, CA Final November 2013 Name wise Result, CA Final Passing Percentage November 2013, CPT December 2013 Passing Percentage, Passing Percentage of CA Final November 2013, Passing % of CPT December 2013 Exams, Check CPT Name wise Result, Check CA Final Name wise Result, CA Final November 2013 Toppers, CA CPT December 2013 Toppers, CA CPT Result on Caresults.nic.in, CA Final Result on caresults.nic.in, CA CPT December 2013 Result Date, CA Final November 2013 Result Date

CA CPT December and Final November 2013 Exam Result:

The result of the Chartered Accountants Final Examination held in November, 2013 and Common

Proficiency Test (CPT) held in December, 2013 are likely to be declared on Wednesday, the 15th

January, 2014 around 2.00 P.M. and the same as well as the merit list (candidates securing a minimum

of 55% and above marks and upto the maximum of 50th Rank in the case of Final Examination and

candidates securing a minimum of 60% and above marks and upto the maximum of 10th Rank in the case

of Common Proficiency Test and in accordance with the decision of the Examination Committee) on all

India basis will be available on the following website:

www.caresults.nic.in

Arrangements have also been made for the students of Final Examination and Common Proficiency

Test (CPT) desirous of having results on their e-mail addresses to register their requests at the above

website, i.e., http://www.caresults.nic.in from 10th January, 2014. All those registering their requests

will be provided their results through e-mail on the e-mail addresses registered as above immediately after

the declaration of the result.

In addition to above, it may be noted that for accessing the result at the above website i.e.

http://www.caresults.nic.in the student shall have to enter his registration no. and/or PIN no. alongwith his

roll number.

Further, facilities have been made for students of Final Examination and Common Proficiency Test

(CPT) held in November/December, 2013 desirous of knowing their results with marks on SMS. The service

will be available through India Times.

For getting results through SMS, students should type:

i) for Final Examination result the following

CAFNL(space)XXXXXX (Where XXXXXX is the six digit Final examination roll number of the

candidate)

e.g. CAFNL 000028

ii) for Common Proficiency Test result the following

CACPT(Space)XXXXXX (Where XXXXXX is the six digit Common Proficiency Test roll

number of the candidate

e.g. CACPT 000171

and send the message to:

58888 - for all mobile services

Dates of CA Final May 2014 Exams, CA Exam Dates May 2014

Dates of CA Final May 2014 Exams, CA Exam Dates May 2014, IPCC May 2014 Exam Dates, Chane in CA Final May 2014 Exam Dates

Dates of CA Final May 2014 Exams, CA Exam Dates May 2014:

There is a lot of confusion about the CA Final May 2014 Exam Dates and IPCC May 2014 Exam Dates due to Lok Sabha Elections. Election Commission has recently announced that Lok Sabha Elections will be held in six phases starting from April 2014 to Mid of May 2014.

So there is most probability of changing of the Exam Dates of CA Final May 2014 and IPCC May 2014 Exam Dates. Normally. ICAI organises the CA Exams that starts from the first 4 days of May to 20th May. But there may be some amendments in the Exam Dates of CA Final Exams of May 2014 due to Lok Sabha Elections. Still, the ICAI has not yet announced any press release or notification related to the Exam Dates of CA Final May 2014 Exams.

Online Registration of GMCS ITT and OT in CA Course icaionlineregistration.org

Online Registration Portal for GMCS ITT and OT in CA Course, Online Registration of GMCS, Online Registration of  ITT, Online Registration of Orientation Program in CA Course, www.icaionlineregistration.org/index.html

Online Registration of GMCS ITT and OT in CA Course icaionlineregistration.org:

ICAI has started an Online Registration Portal for GMCS, ITT and Orientation Program on All India Basis. BOS has developed Online Registration Portal for GMCS, ITT and OT. Now you can do online registration of GMCS, ITT and Orientation Program across India. Students can register online for GMCS, ITT and OT from anywhere and for anywhere ( Any Branch). In the first phase, "Faculty Module" of Online Registration Portal has been started on 20th December 2013 for registration as a Faculty for GMCS, ITT and OP Course. Visit icaionlineregistration.org/index.html

You can check here this facility and register online for GMCS, ITT and OP courses. You can visit here for Online Registration of GMCS, ITT and OP course.

icaionlineregistration.org

Non-applicability of Companies Act 2013 for May 2014 Examinations and Nov 2014 Exams

Non-applicability of Companies Act 2013 for May 2014 Examinations and Nov 2014 Exams:

Non-applicability of Companies Act 2013 for May 2014 Examinations, Applicability of New Companies Act for CA Final May 2014 Exams, Applicability of New Companies Act for CA Final November 2014 Exams

Non-applicability of Companies Act, 2013 for May 2014, Examinations:

ICAI has released a notification related to the Applicability of New Companies Act 2013 for CA Final and IPCC Exams of May 2014 and November 2014. As per ICAI Notification, the Companies Act 2013 is not applicable for May 2014 exams of CA Final and IPCC.

ICAI Notification on Companies Act 2013:

"This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (with partial enforcement of only 98 sections of the Companies Act, 2013 from 12th September, 2013) shall not be applicable for May 2014 examinations both at the Intermediate (IPC) and Final levels. The examinations will be based only on the existing syllabus. "

You can also find out the notification related to Applicability of Companies Act 2013 for May 2014 Exams here.

Electronic filing of Annexureless Return of WEALTH TAX Sections 14A & 14B

Electronic filing of Annexureless Return of WEALTH TAX Sections 14A & 14B:

(Effective from 1st June, 2013) 

As per section 14 of the Wealth-tax Act, 1957, every person, whose net wealth or net wealth of any other person in respect of which he is assessable under the Act on the valuation date, exceeds the maximum amount not chargeable to wealth-tax, is required to furnish a return of his net wealth or the net wealth of such other person as on the valuation date in the prescribed form and verified in the prescribed manner setting forth particulars of the net wealth and such other particulars as may be prescribed. 

The Wealth-tax Act, 1957 and the Wealth-tax Rules, 1957 require furnishing of certain documents and reports along with the return of net wealth. Consequent to implementation of e-filing of income-tax returns and making the same mandatory for certain classes of income-tax assessees, sections 139C and 139D were introduced in the Income-tax Act, 1961. These sections contain enabling provisions for electronic filing of annexure-less return of income. Likewise, for promoting electronic filing of annexure-less return of net wealth, new sections 14A and 14B have been inserted in the Wealth-tax Act, 1957 in line with sections 139C and 139D of the Income-tax Act, 1961.

Section 14A empowers the CBDT to provide for a class or classes of persons who may not be required to furnish documents, statements, certificates, audit reports, reports of registered valuers etc. which are otherwise required to be furnished under any other provision of the Wealth-tax Act, 1957 (except section 14B) along with the return of net wealth. However, such documents, statements etc. have to be produced on demand before the Assessing Officer. 

Penalty on failure of furnish Annual Information Return section 285BA(5)

Penalty on failure of furnish Annual Information Return section 285BA(5):

Higher penalty for failure to furnish Annual Information Return in response to notice under section 285BA(5) [New section 271FA] 

As per section 285BA(1), the persons listed there under who are responsible for registering, or, maintaining books of account or other document, containing a record of any specified financial transaction, are required to furnish an annual information return in respect of such transactions within the time prescribed under section 285BA(2) i.e.,on or before 31st August, immediately fol owing the financial year in which the transaction is registered or recorded. 

If the annual information return has not been furnished within the prescribed time, section 285BA(5) empowers the Director of Income-tax (Central Information Branch) to issue notice requiring furnishing of annual information return within a period not exceeding 60 days from the date of service of such notice. 

At present, under section 271FA, if a person who is required to furnish an annual information return, as required under section 285BA(1), fails to furnish such return within the time prescribed under that sub-section, the prescribed income-tax authority may direct that such person shal pay, by way of penalty, a sum of  Rs. 100 for every day during which the failure continues.

Section 271FA has now been substituted to provide that if a person who is required to furnish an annual information return, as required under section 285BA(1), fails to furnish such return within the time prescribed under section 285BA(2), the prescribed income-tax authority [i.e., Director of Income-tax (Central Information Branch)] may direct that such person shal pay, by way of penalty, a sum of `100 for every day during which the failure continues.

Further, where such person fails to furnish the annual information return within the period specified in the notice under section 285BA(5), he shal pay, by way of penalty, a sum of five hundred rupees for every day during which the failure continues, beginning from the day immediately following the day on which the time specified in such notice for furnishing the return expires.

Penalty :

The penal provisions under section 271FA w.e.f. 1st April, 2014 are summarized below -

i.) 285BA(1)  Rs. 100 per day of 1st September immediately fol owing the continuing default financial year in which the transaction is registered or recorded til the date of furnishing the AIR or the date of expiry of the

time specified in the notice under section 285BA(5), whichever is earlier.

ii.) 285BA(5) Rs. 500 per day of The day immediately following the day on continuing default which the time specified in notice under section 285BA(5) for furnishing the AIR expires til the date of furnishing of AIR.

(Effective from 1st April, 2014) 

Sec 194-IA of Income Tax Act TDS on Immovable Property

Sec 194-IA of Income Tax Act TDS on Immovable Property:

A New Section 194-IA has been inserted in the Income Tax Act, 1961 of India. Section 194 IA is inserted for TDS liability on transfer of Immovable Property other than Agricultural Land.

Tax to be deducted from payment on transfer of certain immovable property other than agricultural land [New Section 194-IA] 

TDS will be deducted at the rate of 1% of the sales consideration amount of immovable property if the sales consideration of such property exceeds RS. 50 Lakhs. Section 194-IA applies all immovable properties other than Agricultural land.

In case of transfer of immovable property by a non-resident, the TDS provisions under section 195 are attracted in the hands of the transferee. However, in case of transfer of immovable property by residents, there is no requirement to deduct tax at source, the only exception being a case of compulsory acquisition of immovable property (other than agricultural land) in respect of which tax deduction is required under section 194LA.

For the twin purposes of having a reporting mechanism of transactions in the real estate sector and also collecting tax at the earliest point of time, new section 194-IA has been inserted to require every transferee responsible for paying any sum as consideration for transfer of immovable property (land, other than agricultural land, or building or part of building) to deduct tax, at the rate of 1% of such sum, at the time of credit of such sum to the account of the resident transferer or at the time of payment of such sum to a resident transferer, whichever is earlier.

However, tax is not required to be deducted at source where the total amount of consideration for the transfer of immovable property is less than  Rs. 50 lakh.