Car Hire in Delhi & NCR

Service Tax Notification 20-6-2012

40/2012-ST dt. 20-06-2012  [Eng] Exemption on services provided to SEZ authorised operations
39/2012-ST dt. 20-06-2012  [Eng] Notification under rule 6A of Service Tax Rules
38/2012-ST dt. 20-06-2012  [Eng] Amendment of Notification 28/2011-ST
37/2012-ST dt. 20-06-2012  [Eng] Seeks to amend point of Taxation Rules
36/2012-ST dt. 20-06-2012  [Eng] Seeks to amend Service Tax Rules
35/2012-ST dt. 20-06-2012  [Eng] Rescinding of certain notification
34/2012-ST dt. 20-06-2012  [Eng] Rescinding of certain notifications
33/2012-ST dt. 20-06-2012  [Eng] Exemption to Small service providers
32/2012-ST dt. 20-06-2012  [Eng] Exemption of services provided by TBI/STEP
31/2012-ST dt. 20-06-2012  [Eng] Exemption to specified services received by exporter of goods
30/2012-ST dt. 20-06-2012  [Eng] Notification under sub-section (2) of section 68
29/2012-ST dt. 20-06-2012  [Eng] Exemption on property tax paid on immovable property
28/2012-ST dt. 20-06-2012  [Eng] Place of Provision of Services Rules,2012
27/2012-ST dt. 20-06-2012  [Eng] Exemption to services for the official use of foreign Diplomatic Mission
26/2012-ST dt. 20-06-2012  [Eng]                  Abatement notification
25/2012-ST dt. 20-06-2012  [Eng]                  Mega exemption notification

Valuation of Share and Valuation of Good will

How to calculate interest on recurring deposits?


Understand Compound Interest To Understand Recurring Deposit Interest

When you create a RD for Rs. 10,000 for 2 years, what you’re doing is depositing Rs. 10,000 with the bank every month for 24 months, and the bank pays you interest on Rs. 10,000 for 2 years compounding it quarterly, then for the next Rs. 10,000 it pays you interest for 23 months, and so on and so forth.
Banks usually compound interest quarterly, so the first thing is to look at the formula for compound interest.
That formula is as follows:
A formula for calculating annual compound interest is:
                           A=P(1+r/n)^nt
Where,
  A = final amount
  P = principal amount (initial investment)
  r = annual nominal interest rate (as a decimal, not in percentage)
  n = number of times the interest is compounded per year
  t = number of years
In your recurring deposit, you use this formula to calculate the final amount with each installment, and at the end of the installments, you add them all up to get the final amount.

Think of RD Installments and Series of Principal Payments

Let’s take a simple example to understand this – suppose you start a recurring deposit for Rs. 2,000 per month for 1 years at 9.75% compounded quarterly. If you were to see this number as a standalone fixed deposit that you set up every month for 12 months, you could come up with a table like I have here. Before you get to the table, here is a brief explanation on the columns.
 Month: First column is simply the Month.                    
 Principal (P): Second column is P or principal investment which is going to be        the same for 24   months,
 Rate of Interest (r): r is going to 9.75% divided by 100.
 1+r/n: In our case, n is 4 since the interest is compounded quarterly, and 1+r/n is rate divided by compounding periods.
 Months Remaining: This is simply how far away from 2 years you are because that’s how much time your money will grow for.
 Months expressed in year: I’ve created a column for Months expressed in a year since that makes it easy to do the calculation in Excel.
  nt: 4 multiplied by how many months are remaining as expressed in year.
  (1+r/n)^nt: Rate of interest raised by the compounding factor.
  Amount (A): Finally, this is the amount you if you plug in the numbers in a row in the compound interest formula.

So, Rs. 2000 compounded quarterly for 1 years at 9.75% will yield Rs. 25295  after 2  years. The last row contains the grand total which is what the RD will yield at the end of the time period.










Important Announcement - CPT June 2012 Examination


IMPORTANT ANNOUNCEMENT
No. 13-CA(Exams)/CPT/June2012/June 11, 2012
Due to unavoidable circumstances, the examination Centre of 200 candidates bearing Roll No. from 218290 to 218489 for CPT (Common Proficiency Test - Examination) to be held on 17th June, 2012 has been changed to DOON PUBLIC SCHOOL, B-2, PASCHIM VIHAR, BEHIND LAXMI NARAYAN MANDIR, NEW DELHI-110 063 ( in place of St. Mathew’s Public School, A-6 Paschim Vihar, New Delhi-110 063).

Admit Card already issued remains the same and valid for appearing in the said CPT at Doon Public School, New Delhi.

Candidates bearing Roll No. from 218290 to 218489 are requested to make a note of the above and accordingly appear at Doon Public School, New Delhi. Candidates are advised, in their own interest, to visit in advance the Doon Public School, B-2, Paschim Vihar, New Delhi to familiarize themselves with the location of the said School.

Help Desk Numbers: (0120) 3054 851, 3054 852, 3054 853, 3054 835, 3054 806.

E-mail: cpt_exam@icai.in
Additional Secretary (Exams.)

Lecture Series on CPT

Self-Assessment Quiz for Common Proficiency Test (CPT)


The Institute of Chartered Accountants of India
Board of Studies

The Board of Studies has launched Online Self-Assessment Quiz for the CPT Course to enable students make a self assessment of their preparation for the forthcoming examination in the following three formats:
Self Assessment Quiz TypeDetails
All Subjects Online Self Assessment Quiz
  • This Online Quiz enables Students make a Self Assessment of their preparation for All Subjects together, asin the actual examination but lesser duration and number of questions.
  • This Quiz consists of 50 questions to be answered in one hour with a passing requirement of 50%.
Subject Wise Self Assessment Quiz
  • This Online Quiz enables Students make a Self Assessment of their preparation of each of the subjects (viz., Fundamentals of Accounting, Mercantile Laws, General Economics and Quantitative Aptitude) of the CPT Course.
  • This Quiz consists of 25 questions to be answered in 30 Minutes with a passing requirement of 50%.
Chapter Wise Self Assessment Quiz
  • This Online Quiz enables Students make a Self Assessment of their preparation of each of the subjects (viz., Fundamentals of Accounting, Mercantile Laws, General Economics and Quantitative Aptitude) of the CPT Course.
  • This Quiz consists of 12 questions to be answered 15 minutes with a passing requirement of 50%.
It is pertinent to note that (a) Each of the aforementioned quizzes shall generate a new random Question Paper every time a student accesses it; and that (b) there are multiple quizzes available for each of the quizzes to facilitate faster access.Links to access the three sets of quizzes are available below and students can go to respective sections by clicking on the links on the table above. The duration of quizzes has been kept short to enable students to conveniently make their self assessment.

Students are advised to take advantage of this online resource to facilitate their examination preparation in a timed environment.Views and suggestions to improve this facility are invited by e-mail to CPT.SAQuiz@icai.org.
Director
Board of Studies
Last updated on 31st May, 2012
CPT All Subjects Self Assessment Quiz - 1CPT All Subjects Self Assessment Quiz - 6
CPT All Subjects Self Assessment Quiz - 2CPT All Subjects Self Assessment Quiz - 7
CPT All Subjects Self Assessment Quiz - 3CPT All Subjects Self Assessment Quiz - 8
CPT All Subjects Self Assessment Quiz - 4CPT All Subjects Self Assessment Quiz - 9
CPT All Subjects Self Assessment Quiz - 5CPT All Subjects Self Assessment Quiz - 10
Fundamentals of Accounting
CPT Self Assessment Quiz - 1CPT Self Assessment Quiz - 2
CPT Self Assessment Quiz - 3CPT Self Assessment Quiz - 4
CPT Self Assessment Quiz - 5CPT Self Assessment Quiz - 6
Mercantile Laws
CPT Self Assessment Quiz - 1CPT Self Assessment Quiz - 2
CPT Self Assessment Quiz - 3CPT Self Assessment Quiz - 4
CPT Self Assessment Quiz - 5CPT Self Assessment Quiz - 6
General Economics
CPT Self Assessment Quiz - 1CPT Self Assessment Quiz - 2
CPT Self Assessment Quiz - 3CPT Self Assessment Quiz - 4
CPT Self Assessment Quiz - 5CPT Self Assessment Quiz - 6
Quantitative Aptitude
CPT Self Assessment Quiz - 1CPT Self Assessment Quiz - 2
CPT Self Assessment Quiz - 3CPT Self Assessment Quiz - 4
CPT Self Assessment Quiz - 5CPT Self Assessment Quiz - 6
Fundamentals of AccountingMercantile Laws
Chapter-1 Accounting An Introduction
Chapter-2 Accounting Process
Chapter-3 Bank Reconciliation Statement
Chapter-4 Inventories
Chapter 5 Depreciation Accounting
Chapter 6 Preparation of Final Accounts of Sole Proprietors
Chapter 7 Accounting for Special Transactions
Chapter 8 Partnership Accounts
Chapter 9 Company Accounts
Chapter-1 Indian Contract Act, 1872
Chapter-2 Sale of Goods Act, 1930 
Chapter-3 Indian Partnership Act, 1932 
General EconomicsQuantitative Aptitude
Chapter-1 Introduction to Micro Economics 
Chapter-2 Theory of Demand and Supply
Chapter-3 Theory of Production and Cost Markets
Chapter-4 Price Determination in Different 
Chapter-5 Indian Economy - A Profile 
Chapter-6 Select Aspects of Indian Economy
Chapter-7 Economic Reforms in India
Chapter-8 Money and Banking
Chapter-1 Ratio and Proportion,indices and logarithms
Chapter-2 Equations
Chapter-3 Inequalities
Chapter-4 Simple and Compound interest Including Annuity Applications
Chapter-5 Basic Concepts of Permutations and Combinations
Chapter-6 Sequence and series-Arithmetic and Geometric Progression 
Chapter-7 Sets ,Functions and Relations
Chapter-8 Limits and Continuity-Intutive Approach
Chapter-9 Basic Concepts of Differential and Integral Calculus
Chapter-10 Statistical Description of Data
Chapter-11 Measures of Central Tendency and Dispersion
Chapter-12 Correlation and Regression
Chapter-13 Probability and Expected value by Mathematical Expectation
Chapter-14 Theretical Distributions
Chapter-15 Sampling Theory
Chapter-16 Index numbers

ICAI enters into an arrangement with Taxmann to provide the contents of website

As you may be kindly aware, as an ongoing attempt to enable the members to keep pace with the latest developments in important fields like direct taxes, company law, service tax etc., the Direct Taxes Committee of ICAI has entered into an arrangement with  Taxmann, a reputed and a well known publisher, who has agreed to provide all materials that are published and made available by it as a part of its standard practice and procedure on its website www.taxmann.com at a negotiated price of Rs. 3500/- p.a. vis-a- vis its market value which is Rs.7500/-.  With this, the Committee has tried to make available, in a timely manner, relevant educational resources at a nominal cost to the members, which in turn would enable them to discharge their functions in an effective manner. We hope that you would have taken the benefit of this arrangement between ICAI and Taxmann. However, if you have not availed the benefit till now, you can still do so by clicking on the link below:
We wish to inform you that this facility is available to members of ICAI ONLY. The detailed features of the site www.taxmann.com are given below:
ü  127 years of Direct Tax Laws (1886-2012) covering 42000 judgments of Supreme Court/High courts since 1886, 19000 Orders of ITAT, 10500 Notifications,      2100 Circulars and 6000 Articles
ü  100 years of Company Law (1913-2012) covering 9800 Judgments/Orders of Supreme Court/High Courts/SAT/CLB/CCI/CAT/ATFE on company               Law/Securities Laws/ Foreign Exchange Laws. The Laws covered are Company Laws, Securities Laws, Foreign Exchange Laws, Competition Laws,               Banking & Insurance Laws, Other Corporate Laws, 150 Acts, 350 Rules, 900 Forms, 6000 Circulars, 2500 Notifications and 2500 Articles.
ü  Complete Data on Service Tax (1994-2012) covering   5800 Judgments of Supreme Court/High Court/CESTAT,  Acts, Rules, Circulars, Notifications,                Articles.
ü  Besides Daily Reporting of case laws, the website shall provide Updated Acts, Rules, Circulars & Notifications.

In addition, the Taxmann also provides the following Value added e-services without any cost, irrespective of fact WHETHER OR NOT you have opted for the above facility:
a)       Taxmann’s Mobile Application For Android and Blackberry Phone
b)       Taxmann’s Daily e-Newsletter
c)       Taxmann’s sms services
In order to avail the above mentioned value added services without any cost, please click on the link below and register yourself for the same.
We hope that the members would take maximum benefit from this arrangement and keep themselves updated for the benefit of the profession and nation as a whole.

IFRS-Workshop

Studycafe is conducting a workshop on IRFS for Members and Students. Batch size will be around 8-10 students and Faculty will be from big four CA Firms who are masters in this Field. Course duration will be 15 days,3 months or 6 months depending on regular or weekend classes or type of the below course:
1. IFRS - basics
2. Valuation - basics and advance
3. Accounting - practical difficulties
4. Risk evaluation - business process
Limited Seats available. If you are interesting to join the Batch then contact us @ contact@studycafe.in
Location is New Delhi.
 

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