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Tuesday, August 18, 2009
Partial Modification- Professional Education -II Examination - (17-08-2009)
ADDITIONAL SECRETARY (EXAMS.)
Click Here For direct Link
Partial Modification for Nov 09 Exams
NOTIFICATION
S. No. | Examinations | Dates |
1. | PE-II,PCE , IPCE, Final/ Final (New Course) MAC , ITL& WTO and IRM ( Timings : 01.00 PM to 04.00 PM) | 5th to 19th November-2009 |
2. | COMMON PROFICIENCY TEST First Session : 10.30 am to 12.30 pm Second Session: 02.00 pm to 04.00 pm | 13th December-2009 |
ADDITIONAL SECRETARY (EXAMS.)
Extension of due date for completion of 100 Hours IT training

Removing difficulties being faced by the students for successfully completing 100 Hours Information Technology Training before the commencement of November, 2009 Professional Competence Examination/Integrated Professional Competence Examination |
It has been brought to the notice of Board of Studies that some of the students who have to appear for the Professional Competence Examination/Integrated Professional Competence Examination to be held in November, 2009, are facing difficulties in successfully completing 100 Hrs Information Technology Training by 31st October, 2009 due to capacity constraints in certain Information Technology Labs. In order to remove the difficulties being faced by such students, it has been decided that they may successfully complete their 100 Hours Information Technology Training before the date of declaration of the Professional Competence Examination/ Integrated Professional Competence Examination result for November 2009 Examination. Such students should submit proof of their successful completion of the 100 Hours Information Technology Training to the Examination Section before the date of declaration of the result. |
Successful completion of 100 hours IT Training means
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Students should carefully note that if they do not successfully complete the 100 Hours IT training before the date of declaration of the result of November, 2009 Professional Competence Examination/ Integrated Professional Competence Examination and submit proof of successful completion to the Examination Section, ICAI Bhawan,C-1, Sector 1, Noida-201301 before that date their results are liable to be cancelled. Therefore, they are advised to successfully complete the 100 Hours IT training well before the date of declaration of the result (tentatively 15th January, 2010). In case they experience any difficulty in getting the admission for 100 Hours IT training they should immediately contact Mrs. Indu Arora, Additional Director of Studies, Phone No. 0120-3045927 and emailindu@icai.org. |
PE II Exams: Extension by two More Attempts
August 10, 2009

An Important Announcement for Students of Professional Education Examination- II – Extension of PE-II Examination by two more attempts i.e. November, 2009 and May 2010 |
Students are hereby informed that the Council of the Institute of Chartered Accountants of India, having due regard to the concerns of students belonging to the Professional Education Examination –II stream, has decided to extend the Professional Education Examination –II by two more attempts namely November, 2009 and May, 2010. |
Eligible categories
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Students concerned may note that the Council has made it clear that no further extension will be granted under any circumstances. Click Here For Direct Link To the Announcement |
New Direct Tax code : Assessee
Under the 1961 Act, assessee is a person by whom any tax or any other sum of
money is payable or a person in respect of whom any proceeding under the 1961 Act has
been taken (including representative assessee) or any person who is deemed to be an
assessee or deemed to be an assessee in default. The definition is important since an
assessee has certain rights and obligations under the 1961 Act. In the Code it is proposed
to include the following "other persons" within the definition of 'assessee':-
(a) any person to whom any amount of refund is payable under the Code; and
(b) any person who voluntarily files a return of tax bases irrespective of the fact
that he is otherwise not under an obligation to do so.
This change will enable taxpayers to obtain refund of tax deducted at source. It will also
help tax payers currently below the threshold level to report their income and maintain a
track record of filing returns in anticipation of earning higher - and hence taxable - incomes
in the future.
New Direct Tax code : Concept of Financial Year
Under the 1961 Act, the income earned in a year is taxed in the next year. The year
in which income is earned is termed as 'previous year' and the following year in which it is
charged to tax is termed as 'assessment year'.
For example if a person earns any income during the year beginning on 1 April 2006 and
ending on 31 March 2007, then 2006-2007 will be the previous year and the income shall be
assessed to tax in assessment year 2007-2008.
The use of the two expressions has caused confusion in both compliance and administration.
In order to simplify the provisions, the separate concepts of 'previous year' and 'assessment
year' will be replaced by a unified concept of 'financial year'.
The existing concept of assessment year will be done away with. Under the Code,
all rights and obligations of the taxpayer and the tax administration will be with
reference to the 'financial year'. This change will not change the existing system of
deduction of tax at source and payment of advance
tax in the year of earning of income and payment of self-assessment tax in the following year
before filing of tax return. This proposal will simplify the existing provisions.