CPT December - 2015 Notification

the Institute of Chartered Accountants of India is notified that the Common Proficiency Test will be held on Sunday, 13th December, 2015 in two sessions.

Common Proficiency Test application forms duly filled in may be sent so as to reach the Deputy Secretary (Examinations) at New Delhi not later than 27th October, 2015. Applications received after 27th October, 2015 shall not be entertained under any circumstances. Applications duly filled in will be received by hand delivery at the offices of Institute at New Delhi and at the Decentralised Offices of the Institute at Mumbai, Chennai, Kolkata, Kanpur, Ahmedabad, Bangalore, Ernakulam, Hyderabad, Indore, Jaipur, Nagpur, Pune, Surat, Thane and Vadodara upto 27th October, 2015. Candidates residing in these cities are advised to take advantage of this facility. It may be noted that there is no provision for acceptance of application forms after 27th October, 2015 with late fee.

The candidates who fill up the examination application form online at http://icaiexam.icai.org from 6th October, 2015 (10.00 hrs) to 27th October, 2015 (17.30 hrs) and remit the fee online by using either VISA or MASTER Credit/ Debit Card shall not be charged 1000/- (i.e. cost of application form fee)

[This Common Proficiency Test will be conducted as per provisions of Regulation 25 D (3) of the Chartered Accountants Regulations, 1988.]

First Session  (i.e. Morning Session)	10.30 AM to 12.30 PM (IST)  Section - A Fundamentals of Accounting  Section - B Mercantile Laws
Second Session  (i.e. Afternoon Session)	2.00 PM to 4.00 PM (IST)  Section - C General Economics  Section - D Quantitative Aptitude

For more details and notification follow the below link 

http://icaiexam.icai.org/announcements_cpt_2015.php

Dates For Final/Intermediate (IPC) Examination – November 2015

Institute of Chartered Accountants of India is notified that the Intermediate (IPC) and Final examinations will be held on the dates given below at the following places provided that sufficient number of candidates offer themselves to appear from each centre.

INTERMEDIATE (IPC) EXAMINATION
[As per syllabus contained in the scheme notified by the Council under Regulation 28 E (3) of the Chartered Accountants Regulations, 1988]

Group-I:       2nd , 4th, 6th & 8th November 2015

Group-II:     10th, 13th & 15th November 2015

(Afternoon Session: 2.00 PM to 5.00 PM) (IST)

FINAL EXAMINATION
[As per syllabus contained in the scheme notified by the Council under Regulation 31 (ii) of the Chartered Accountants Regulations, 1988.]

Group-I:       1st ,3rd, 5 th &7th November 2015

Group-II:     9th, 12 th, 14 th &16th November 2015

(Afternoon Session: 2.00 PM to 5.00 PM) (IST)

For details visit http://icaiexam.icai.org/announcements_final_2015.php

Final/Intermediate (IPC) Examination Registration – November 2015

Institute of Chartered Accountants of India notified that the Intermediate (IPC) and Final examinations registration started for the candidates who apply online at http://icaiexam.icai.org from 4th August, 2015 to 25th August, 2015 .
From 25th August 2015 and upto 1st September, 2015 application will accepted with late fees .

Fees 

The candidates who apply online at http://icaiexam.icai.org from 4th August, 2015 to 25th August, 2015 and remit the fee online by using either VISA or MASTER Credit/ Debit Card shall not be charged 1000/- in case of Intermediate (IPC) & Final Examination (i.e. cost of application form fee). They shall however, be required to remit additional 600/- towards late fee in case the application online is made after 25th August 2015 and upto 1st September, 2015.

The fees payable for the various examinations are as under:

INTERMEDIATE (IPC) EXAMINATION
For Both the Groups / Unit – 9	1900/-
For one of the Groups / Unit 1 to 8	1200/-
FINAL EXAMINATION
For Both the Groups	2700/-
For one of the Groups	1500/-
MANAGEMENT ACCOUNTANCY COURSE (MAC) PART - 1, CORPORATE MANAGEMENT COURSE (CMC) PART – I, TAX MANAGEMENT COURSE (TMC) PART – I EXAMINATIONS
For Both the Groups	2000/-
For one of the Groups	1000/-
INSURANCE & RISK MANAGEMENT (IRM) EXAMINATION	2000/-
INTERNATIONAL TRADE LAWS AND WORLD TRADE ORGANISATION (ITL & WTO) EXAMINATION:
For Both the Groups	Rs. 4000/-
For one of the Groups	Rs. 2000/-

Candidates of Intermediate (IPC) and Final examination opting for Dubai /Abu Dhabi / Muscat are required to remit, US$ 420 and US$ 480 respectively or their equivalent Indian Currency irrespective of whether the candidates appears in a group or in both the groups or in a unit.

Candidates of Intermediate (IPC) and Final Examinations opting for Examination Centre at Kathmandu are required to remit Indian 2700/- and Indian 3600/- respectively or their equivalent relevant foreign currency irrespective of whether the candidates appear in a group or in both the groups or in a unit.

For more details visit http://icaiexam.icai.org

National Pension Sysytem (NPS) - All citizens of India

What is National Pension System?

 

The person (employee/citizen) who joins the NPS will be known as "Subscriber" in the NPS. Under the NPS, each Subscriber will open an account with Central Recordkeeping Agency (CRA) which will be identified through unique Permanent Retirement Account Number (PRAN).

Under NPS, two types of account would be available to subscribers i.e.

Tier I

Tier II;

Tier I account - where subscribers contribute his / her savings (may include employers contribution in case of Corporate sector) for retirement into a non-withdrawable account,

Tier II account - a voluntary savings account from which subscribers are free to withdraw their savings whenever he wishes. The facility of Tier II account was made available from December 01, 2009 to All Citizens of India including Govt. employees and Corporate sector subscribers not mandatorily covered under NPS. An active Tier I account will be a pre requisite for opening of a Tier II.

 

Minimum contribution is Rs. 500 per month or Rs. 6000 in a year .

 

What are the tax benefits of NPS?

Tax benefit to employee:
Individuals who are employed and contributing to NPS would enjoy tax benefits on their own contributions as well as their employer’s contribution as under: -
(a) Employee’s own contribution - Eligible for tax deduction up to 10% of Salary (Basic + DA) under Section 80 CCD(1) within the overall ceiling of Rs. 1.5 lac under Sec 80 CCE.
(b) Employer’s contribution – The employee is eligible for tax deduction up to 10% of Salary (Basic + DA) contributed by employer under Sec 80 CCC(2) over and above the limit of Rs. 1.5 lac provided under Sec 80 CCE.

Tax benefit for self-employed:
Eligible for tax deduction up to 10 % of gross income under Sec 80 CCD (1) with in the overall ceiling of Rs. 1.5 lac under Sec 80 CCE.

For more queries write in comment box.

 

 

Result Date- Chartered Accountants Intermediate (Integrated Professional Competence)

The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in May, 2015 is likely to be declared on Friday, the 31st July, 2015 around 4.00 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 on all India basis will be available on the following website: 
http://www.caresults.nic.in
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 candidate shall have to enter his registration no. or PIN no. alongwith his roll number. 
For having results on their e-mail addresses to register their requests at the above website, i.e., http://www.caresults.nic.in from 27th July, 2015. 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. 

For getting results through SMS candidates should type: 

CAINTER(Space)XXXXXX (where XXXXXX is the six digit Intermediate (IPC) Examination roll number of the candidate) 

e.g. CAINTER 302971 and send the message to 

58888 - for all mobile services - India Times 

Reference link for original post .
http://www.icai.org/new_post.html?post_id=11755&c_id=219

Revised scheme of Chartered accountancy course

Dear Professionals ,

ICAI Issued Revised Scheme of Education and Training for Chartered Accountancy Course.
through notification  “Chartered Accountant Course New Scheme ” 
This notification contains information regarding How to become Chartered Accountant through foundation route or direct entry route, Name and Number of Papers in Foundation, Inter and Final syllabus from 2016 and other training details like Four Weeks Integrated Course on Information Technology and Soft Skills (ICITSS), Practical Training and Advance Four Weeks Integrated Course on Information Technology and Soft Skills (AICITSS).
Download CA Course New Scheme 2016 using the below mentioned link and get the details .

http://220.227.161.86/38143bos27828.pdf

Chartered Accountant Exam Result Date_Final and CPT_May 2015

This is for information -
The result of the Chartered Accountants Final Examination held in May, 2015 and Common Proficiency Test (CPT) held in June, 2015 are likely to be declared on Thursday, the 16 th July, 2015 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: http://www.caresults.nic.in 
Further, facilities have been made for students of Final Examination and Common Proficiency Test (CPT) held in May/June, 2015 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 000128
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 - India Times

Refer the circular copy through link - http://220.227.161.86/38220exam27873.pdf

Job | Asst. Manager - Account Payable with a TOP MNC in Delhi (Peeragarhi Location) - 5 Days Working

Dear Candidate,

Note : Kindly apply only if you have at least 3 years of strong experience in Accounts Payable & have been working with a setup where you are handling large number of Vendors.

We are looking out for an Asst. Manager - Account Payable with a Top MNC in Delhi. Job location is Peeragarhi.

Candidates from Large Setup handling large number of Vendors will be preferred.

Candidate should be from Accounts Background with at least 3 years of strong experience in Accounts Payable & Vendor Payments.

This is a 5 days working job.

Annual Salary of the Job: 6.0 - 7.0 Lacs  

Job location is Peeragarhi, New Delhi.

Share your CV . 

Walkin for .Net Tech Lead with an MNC at Gurgaon pm Thursday 9th July

Hi,

 

Candidates are invited for .Net Technical Lead position

 

Walk-in on Thursday 9^th July (For more details send your profile)

 

Position: Technical Lead

 

5+ Years of Relevant experience in .Net

Person should also be good at writing syntax and coding.

 

Kindly send your profiles with below details to fix your interview

Extension of Due Dates-Income Tax Retun Filing

The Central Board of Direct Taxes, in exercise of powers conferred under section 119 of the Income-tax Act, 1961, hereby extends the ‘due-date’ for filing Returns of Income, in terms of clause (c) of Explanation 2 to sub-section (1) of section 139 of the Income-tax Act, 1961, for Assessment Year 2015-16 from 31st July, 2015 to 31st August, 2015 in respect of income tax assesses concerned. 


Refer the link for order copy-
https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Order_under_section_119.pdf

New ITR Forms AY 2015-2016

ITR forms are available to file the returns
Use the below link to download the relevant forms .

https://incometaxindiaefiling.gov.in/e-Filing/Services/DownloadItrLink.html

Vacancy for Senior Manager-Administration & Finance with J-PAL South Asia, Chennai

Dear Finance Professional,

We have pleasure in alerting you about the vacancy for Senior Manager-Administration & Finance, Chennai that has arisen with J-PAL South Asia based at the Institute for Financial Management and Research (IFMR) in Chennai.

JOB DESCRIPTION
Senior Manager - Administration and Finance, 
J-PAL South Asia, Chennai

1. POSITION VACANT: Senior Manager – Administration and Finance, J-PAL South Asia, Chennai

2. BACKGROUND:

The Abdul Latif Jameel Poverty Action Lab (J-PAL) was established in 2003 as a research center at the Economics Department at the Massachusetts Institute of Technology. Since then, it has grown into a global network of researchers who use randomized evaluations to answer critical policy questions in the fight against poverty.

J-PAL is organized both by regional offices and by research themes called Programs. J-PAL's headquarters is a center within the Economics Department of the Massachusetts Institute of Technology (MIT), with independent regional offices in Africa, Europe, Latin America, North America, South Asia, and Southeast Asia that are hosted by a local university. J-PAL's Programs include Agriculture, Education, Environment and Energy, Finance, Health, Labor Markets, and Political Economy and Governance. These regional offices and Programs are directed by members of the J-PAL Board, which is composed of J-PALaffiliates and senior management.

J-PAL South Asia is based at the Institute for Financial Management and Research (IFMR) in Chennai. It was established in 2007, with generous support from the Mulago Foundation, to manage J-PAL's growing partnerships in India, Pakistan, Nepal, Bangladesh, and Sri Lanka. J-PAL South Asia seeks to improve the effectiveness of poverty programs by providing policymakers with clear scientific evidence.

Key Job Responsibilities:

The key responsibilities of the Senior Manager-A&F shall be to help the Associate Director A&F oversee all administrative and financial activities relating to operational efficiency and efficient financial management of J-PAL SA and to develop and implement related policies and procedures in alignment with the core values of the organisation and the statutory rules of the country. Specific responsibilities shall include but not be limited to the following: (1) Developing, designing and improving internal financial and administrative systems and accounting practices, with the goal of timely and accurate tracking of expenses; 
(2) Responsible for the Annual Budgeting exercise and developing and monitoring the cash flow plans; Reviewing and analyzing financial reports;
(3) Developing and monitoring financial controls for accounts receivables, payables, assets and donor receipts;
(4) Ensuring invoices and financial reports are raised on time and reviewed before sending to donors or other external stakeholders;
(5) Overseeing, reporting and monitoring of organisational performance metrics  including developing dash boards and other relevant Financial MIS for regular reporting to ADF and other senior team members;
(7) Overseeing the payroll function and negotiating for employee insurance and other such employee benefits;
(8) Guiding relevant A&F contact person at field offices in procurement;
(9) Responsible for the annual closure of accounts and preparation of the annual report to the IFMR Board;
(10) Responsible for audit scores and resolving audit queries raised, both quarterly and annual;
(11) Ensuring timely tax compliance and adherence to FERA/FEMA regulations while making any payments and depositing within the stipulated statutory deadlines;
(12) Developing risk management policies to ensure that the organization’s risk is minimized;
(13) Supervising the Admin and Finance team at Head Office and A&F contact persons at the field offices;
(14) Participating in organizational trainings and supervising and training staff in administrative and financial operations;
(15) Any other task assigned by the Associate Director A&Fand/or the Executive Director.

4. QUALIFICATIONS, EXPERIENCE AND COMPETENCIES:

Qualification:

Applicants must have a degree in CA/ MBA Finance/ICWAI with significant training in and a strong understanding of financial management systems.

Experience:

(1) Minimum 10 years of relevant experience in the NGO sector, with experience in cash flow management and consolidation of accounts in a senior administration or operational role;
(2) Strong grip of accounting packages, preferably Tally or Quick Books;
(3) Knowledge of the FCRA, Society Act, Income Tax and other such statutory laws;
(4) Experience of managing a small team of people, including training and development.

Skills & Abilities:

(1) Excellent communication skills with the ability to liaise closely with non-financial staff;
(2) Ability to deal with people at all levels, in a professional manner;
(3) Good MS Excel skills; Experience of working with Q&A would be beneficial;
(4) Proven ability to handle several tasks at one time, with the ability to prioritise, plan and organize workloads in a challenging and flexible environment;
(5) Self-motivated with willingness to work hard.

5. COMPENSATION OFFERED:

The offer made to the selected candidate shall be commensurate with qualifications, experience and salary history.

6. CONTRACT:

The selected candidate shall be offered a five years contract, renewable based on performance.

7. LOCATION: Chennai

10. LAST DATE FOR APPLICATIONS:

Eligible candidates interested in this position are requested apply to smaf-jpal@sams.co.in with a cover letter, discussing their interest in and suitability for the position, along with an updated resume, giving details of three references, current cost to organization and expected compensation, by or before July 17, 2015.

9. CONTACT INFORMATION:

Senior Consultant
Strategic Alliance Management Services P Ltd.
1/1B, Choudhary Hetram House, Bharat Nagar
New Friends Colony, New Delhi 110 025 
Phones: 011-2684-2162; 011-4165-3612; 011-4101-1564 and 011-4101-1565
Email: smaf-jpal@sams.co.in

For further details please visit www.sams.co.in.

For more information about J-PAL, please visit-

http://www.povertyactionlab.org/southasia/  and

http://www.povertyactionlab.org/

Admit Cards for May 2015 Exams- IPCC & Final

Admit cards in respect of all eligible candidates admitted to the Intermediate (IPC) and Final May 2015 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in.
Candidates may print their admit cards from the said website.

For downloading/printing of the admit cards, candidates will have to enter the following details on the site:

• Student registration number or bar code number printed on the examination form
• Personal Identification Number (PIN)

PIN is the four digit number of the candidate’s choice entered by him/her the relevant column in the examination form.

In terms of the decision of the Examination Committee of the Institute, physical admit cards are being sent by post, only to those who submitted physical examination forms ( i.e. OMR ). The practice of sending physical admit cards by post, to those who had submitted their exam forms online, is discontinued with effect from May 2014 examination onwards.

Physical admit cards sent by post as well as those printed from the website are valid for admission to the examination.

Candidates may also visit the FAQs on subject hosted in the FAQs section of www.icai.org for more details.

For any further clarifications, write to/contact:

Final candidates: : final_examhelpline@icai.in
Intermediate(IPC) candidates : intermediate_examhelpline@icai.in

REVISED GUIDELINES FOR TRAINING OF ARTICLED ASSISTANTS OUTSIDE INDIA

REVISED GUIDELINES FOR TRAINING OF ARTICLED ASSISTANTS OUTSIDE INDIA

i. A Chartered Accountant is eligible to train an articled assistant provided his main occupation is the practice of the profession of Accountancy at the time of engaging articled assistants as well as in each of the qualifying years on the basis of which he claims eligibility to train articled assistants.

ii. Any member engaged in any other business, occupation or holding part time certificate of practice is not entitled to train articled assistant.

iii. Any member employed as a Paid Assistant or engaged as a partner in a foreign firm of Chartered Accountants will also be eligible to train articled assistants at par with the paid assistants with a firm of Chartered Accountants in India. All conditions applicable to the Paid Assistants in India would be applicable to them as well. However, in case of a foreign firm, such a foreign firm shall have at least one partner who is either a member of the Institute or who is eligible to become a member of the Institute, in terms of MRA. Provided that every Chartered Accountant from ICAI who is registered as an auditor and obtained a license and registration number from the appropriate competent authority abroad to establish a professional firm and carry out the attest function and who meets the international/local experience and expertise criteria laid down by the law shall be eligible to train articled assistants as under: Category Period of continuous practice Entitlement of articled assistant or assistants

(i) An associate or fellow in continuous practice for a period up to 3 years 1

(ii) An associate or fellow in continuous practice for any period from 3 years to 5 years 2

(iii) An associate or fellow in continuous practice for any period from 5 years to 10 years 4

(iv) An associate or fellow in continuous practice for any period from 10 years 5 It would also be essential for such member abroad to produce the copy of License and certificate of registration issued by the competent authority abroad to him as individual member and to the professional firm with whom he is affiliated to the Institute with current validity at the time of registration of articlehip. Further where an Indian Chartered Accountant is working as paid assistant in a firm where there is no Indian CA as a partner such paid assistant shall not be entitled to train any articled assistant

iv. The members shall provide a professional address as envisaged in Regulation 2(1)(xiii) as well as an addressin India. (As per the said Regulation, professional address means: -

a. an address of the place where the member is carrying on his profession ( or where he is carrying on his profession at more than one place, the principal place), or

b. if a member is employed, the place of employment or at his option the place of his residence

c. the place of residence, if the member neither carried on the profession nor is employed. It may please be noted that an address in India is essential in any of the situation)

v. Since there is full time employment visa instead of Trainee Visa for students who wish to register their articleship with chartered accountants abroad according to the immigration laws of Gulf Cooperation Council (GCC) Countries, so such employees shall be treated at par with the articled assistants registered in India. It would be essential for such articled assistants abroad to produce the copy of such visa and immigration details along with a copy of passport at the time of registration of articleship. The terms and conditions that may be made applicable for training articled assistant in India from time to time shall mutates mutandis apply for training of articled assistant abroad.

vi. The period of practical training shall be 3 years or 3 ½ years, as applicable, under a practising chartered accountant abroad. However, the articled / audit assistants should have an option to undergo industrial training in accordance with the Regulations 51 & 72 of the Chartered Accountants Regulations, 1988 during the last one year of training.

vii. The Industrial Training may be imparted by the Chartered Accountants working abroad in a financial, commercial or industrial undertaking with minimum fixed assets & minimum total turnover or minimum paid up capital as may be specified by the Council (whatever the value specified in terms of Indian currency may be deemed as applicable in foreign countries in their respective currencies) or such other organization or institution approved by the Council. In case of a member employed outside India, and eligible to impart Industrial training outside India, is unable to submit Annual Report/Balance sheet of the corporate/undertaking the member is working with, the member may submit a self declaration about the particulars of the undertaking alongwith the application.

viii. The terms & conditions contained in Regulation 54 and Regulation 54A dealing with secondment shall be applicable to the articled assistants receiving training abroad.

ix. The Principal shall send training reports as prescribed alongwith the service certificate to be issued in Form 109 & 108 as the case may be.

x. The principal shall impart training in accordance with the guidelines contained in Training Guide. He shall maintain a record of practical training imparted by him to the articled assistant and report to the Council in the form prescribed in the training guide.

xi. The rates, terms and conditions of stipend prescribed as payable to the articled assistants receiving training in India shall be applicable to the articled assistants receiving training aboard except that the same rate of stipend in equivalent terms specified in respective national currencies of the countries concerned instead of Indian rupees.

xii. Regulation of training in terms of office hours and working days holidays will be applicable as per local office timings and laws. However, requirements of total training hours will be the same as applicable in India, the terms of which are given hereunder: -

a.The working hours for the articled assistants shall be 35 hours in a week excluding the lunch break.

b.The office hours of the Principal for providing article training to the articled assistant shall not be generally before 9.00 a.m. or after 7.00 p.m.

c.The normal working hours for the articled assistant shall not start after 11.00 a.m. or end before 5.00 p.m.

d.The working hours for the articled assistants should not exceed 35 hours in a week excluding the lunch break and normally an articled assistant be required to work during the normal working hours fixed for articled assistants.

e.In case of exigencies of work with Principal, an article assistant may be required to work beyond his / her normal working hours. However, under such circumstances, the aggregate number of working hours shall not exceed 45 hours per week. The requirement to work beyond 35 hours in a week should not be a practice but only in exceptional circumstances. Further, where the articled assistant is required to work beyond normal working hours, and aggregate of such hours exceed 35 hours per week, he / she shall be entitled to compensatory leave calculated with reference to number of completed working hours, over and above, 35 hours per week. Further conduct of training will be regulated as per provisions of the relevant Regulations as follows: -

Regulation 60: Working hours of an Articled Assistant “

Subject to such directions as may be issued by the Council, the working hours of an articled assistant shall be 35 hours per week to be regulated by the Principal from time to time”.

Regulation 65: Articled assistant not to engage in any other occupation

“Without the previous permission of the Council, obtained on application made in the *approved form, no articled assistant shall, during the period of his service as an articled assistant, take any other course of study or training, whether academic or professional, or engage in any business or occupation.”

Regulation 66: Enquiries against articled assistant “

(1) Where a complaint or information of any misconduct or breach of Regulation 65 or breach of any of the covenants contained in the articles is received against an articled assistant from his principal or any other person, the President or the VicePresident as the Executive Committee may decide from time to time, may cause an investigation to be made

(2) The Executive Committee may, on a consideration of the report of the investigation and after giving the articled assistant an opportunity of being heard, make any of the following orders, namely;-

i. direct that the papers be filed and the complaint be dismissed, if the Executive Committee finds that the articled assistant is not guilty of any misconduct of breach of Regulation 65 or breach of any of the covenants contained in the articles; or

ii. if the articled assistant is found guilty, reprimand the articled assistant or cancel the registration of articles or direct that any period already served under such articles shall not be reckoned as service for the purpose of the period of practical training specified in Regulation 50.

(3) The articled assistant, the registration of whose articles has been cancelled under this regulation, shall not, except with the permission of the Executive Committee be retained or taken as an articled assistant or audit assistant by any member”.

Regulation 67: Complaint against the Principal

1) Where an articled assistant makes a complaint against his principal on a matter concerning his training as an articled assistant, the President or the Vice- President as the Executive Committee may decide from time to time, may cause an investigation to be made and submit a report to the Executive Committee.

2) The Executive Committee shall submit the report of the investigation to the Council with its recommendations.

3) The Council may, on a consideration of the report of the Executive Committee, pass such order as it may consider expedient, including an order withdrawing the entitlement of the principal to train one or more articled assistants either permanently or for a specified period:

4) The President or the Vice-President as the Executive Committee may decide from time to time, may, pending an investigation of the complaint, either terminate or suspend the articles and allow the articled assistant to be accepted as additional articled assistant by a member, notwithstanding anything contained in Regulation 43.

 

No Change in Service Tax 12% to 14% w.e.f. 1st April 2015.

Clarification- No change in rate of Service Tax

Finance bill, 2015 has proposed to increase effective rate of Service Tax from 12.36% to 14%. It is wrongly reported in some quarters that the effective date of change in rate of Service Tax is 1st April, 2015. It is hereby clarified that the change in the rate of Service Tax will be effective from the date to be notified after enactment of Finance Bill, 2015.

In this regard relevant portion of D.O.F. No.334/5/2015-TRU dated 28th February 2015 is produced below:

“3.3 The Service Tax rate shall come into effect from a date to be notified by the Central Government after the enactment of the Finance Bill, 2015”.

Hence, it is worthwhile to mention that there is no change in the rate of Service Tax w.e.f. 1st April 2015.

Any queries .. leave your comments below !!