Filing Financial Statements in XBRL mode without any additional fee

As per Circular No. 57/2011, a company is allowed to file the financial statements in XBRL mode without any additional fee up to 30th November, 2011 or within 60 days from the due date, whichever is later.

In case of a company whose financial year is ending on 31-03-2011 and if its date of AGM is 30TH SEPTEMBER 2011, then its Due date for filing financial statements is 30 days from the AGM date i.e. upto 30th October, 2011. Hence, as per the time lines provided in the circular, THE COMPANY CAN FILE ITS FINANCIAL STATEMENTS IN XBRL MODE WITHOUT ADDITIONAL FEES UPTO 30TH NOVEMBER, 2011 OR 60 DAYS FROM ITS DUE DATE OF FILING, WHICH IS…… 29TH DECEMBER, 2011….. (I.E. 60 DAYS FROM DUE DATE OF FILING- 30TH OCTOBER, 2011) WHICHEVER IS LATER
Similarly, In case of a company whose financial year is ending on 30-06-2011 and if its date of AGM is 31st December 2011, then its Due date for filing financial statements would be 30 days from the AGM date i.e. upto 30th January, 2012. Hence, the company can file its financial statements in XBRL mode without additional fees upto 60 days from its due date of filing, which is 30th March, 2012.

Read more »

ICSI Releases New Format of the Quarterly Report

ICSI releases new format of the quarterly report to be submitted by the students. Students undergoing 15 months training or part training with Companies, PCS, MCA,ROC,RD,OL ,Financial Institutions, Law firms, Consultancy firms, IICA or any other organization registered with institute  for imparting training are required to submit the quarterly report  in  the prescribed format. The format is available under the ‘Training’ section on the website of the Institute.  

The format will be effective from 1st December 2011.  

For any clarification you may send your query at amit.sircar@icsi.edu

To Download visit
http://www.icsi.edu/webmodules/student/QUARTERLY%20REPORT231111.pdf 

Read more »

Computer based Mock CPT has been Called Off

AS Per ICAI due to unavoidable reasons, the computer based Mock CPT scheduled for 26th November 2011 has been called off.The examination fee paid by the students will be refunded shortly. Inconvenience caused is regretted.

No change in Paper Pencil mode CPT exam of 18th December 2011 will be held, as per scheduled.

Read more »

Download CA IPCC November 2011 Question Papers

CA IPCC November 2011 Question Papers

Read more »

Download CA PCC November 2011 Question Papers

CA PCC November 2011 Question Papers

Read more »

CA Final November 2011 Papers

Group-1

Group-2

Read more »

Important for Ca Final Direct Tax Paper.

According to us CA Fianl Nov 2011 Direct Tax Paper Will be Tough One. Prepare Well for Direct Tax Paper. According To us Few are Most Imp Topics For the Direct Tax Paper Students are advised to do to these topics very Well. IMP 4 Direct Tax:
PGBP,Capital Gain,Foreign Tax,TDS,Deductions,Wealth Tax,Charitble Trust,Aop Boi,Dividend,Salaries,One 16 marks Question from ICAI case law book.
www.studycafe.in
Please forward ahead this information to Your Friends also.

Read more »

Interest Rate On PPF, Post Office Savings Hiked

Government on Friday hiked interest rates on deposits under the public provident fund (PPF) scheme to 8.6 percent from 8 percent and maximum deposit limit in a PPF account has been raised to Rs.1 lakh in a financial year from the earlier Rs.70,000. 

Following decisions also have been taken:-

1. Interest rates on post office savings deposits hiked to 4 percent from 3.5 percent.

2. Kisan Vikas Patras discontinued.

3. Maturity period of National Savings Scheme cut to 5 years from 6 years. 

4. A new NSC instrument, with maturity period of 10 years, would be introduced.

5. Interest on loans obtained from PPF will be increased to 2% p.a. from existing 1% p.a.

FOR FURTHER DETAIL, CHECK FOLLOWING LINK FOR OFFICE MEMORANDUM ISSUED BY MINISTRY OF FINANCE IN RESPECT OF ABOVE 

http://fnpo.org/yahoo_site_admin/assets/docs/interest_hike_committee_decision_NSSF.314225242.pdf

Read more »

Last Date for Filing Financial Statements in XBRL Format - (11-11-2011)

LAST DATE FOR FILING FINANCIAL STATEMENTS IN XBRL FORMAT

Last date for filling of financial statements in XBRL formats in respect of specified companies is approaching (30th November 2011 or 60 days from the due date of filing, whichever is later). You are all advised to ensure the filings of your client companies by the due date.

Read more »

Computer based Mock Common Proficiency Test (CPT) On 26th November.

11th November 2011


Computer based Mock Common Proficiency Test (CPT)

ICAI has been working on a cost effective scalable model, for quite some time, for conducting an on-line/computer based Common Proficiency Test (CPT), to cater to a large number of candidates on a nation wide level.

It has now been decided to test the technical feasibility/efficacy of the computer based CPT model that has been developed.

Accordingly, it has been decided to conduct a computer based Mock CPT on Saturday 26th November 2011 for the candidates who have applied for appearing in the Paper Pencil CPT to be held on 18th December 2011.

This test is meant to be a practice test for the academic guidance of the candidates. It is not mandatory to take this test. It is purely optional. It is not held under Regulation 25D of the Chartered Accountants Regulations 1988 and the result of this Mock Test shall not have any bearing/impact whatsoever on the CPT paper pencil mode exam scheduled to be held on 18th December 2011 or for admission to Integrated Professional Competence Course. In other words, the mock CPT is just to assess the technical feasibility of the software developed for computer based examination.

Batch I

First session (From 9.00 a.m. to 11.00 a.m.)	Section A-Fundamentals of Accounting Section B-Mercantile Laws
Second session (From 11.15 a.m. to 1.15 p.m.)	Section C- General Economics Section D –Quantitative Aptitude

Batch II

First session (From 2.15 p.m. to 4.15 p.m.)	Section A-Fundamentals of Accounting Section B-Mercantile Laws
Second session (From 4.30 p.m. to 6.30 p.m.)	Section C- General Economics Section D –Quantitative Aptitude

Mock CPT will be held at 38 locations in 28 cities across India, as given below.

Ahmedabad, Amritsar, Bangalore, Baroda, Bhopal, Bhubaneshwar, Chandigarh, Chennai, Coimbatore, Hissar, Hyderabad, Jaipur, Kanpur, Kochi, Kokata, Lucknow, Madurai, Mumbai, Nagpur, Nashik, New Delhi/NCR(Gurgaon and Noida), Panjim, Patna, Pune, Ranchi, Surat, Thiruvantapuram and Vijayawada.

ICAI reserves the right to withdraw any centre at any stage without assigning any reason.

Application for the computer based Mock CPT can be made on-line only from http://cptonlineexam.icai.org.There is no provision for submission of physical forms. Fee of Rs 300/- is payable on-line by using debit/credit master/visa card.

Date of opening of the application window - 10.00 Hours (IST) on 12.11.2011

Date of closing of the application window - 7.30 Hours (IST) on 16.11.2011*

*or till the seats are filled.

There is no provision for submission of on-line form with late fee.

Candidates will be required to visit the said website on specified date for printing the admit card.

Question paper language:

Computer based Mock CPT will be an objective type multiple choice questions based examination.

Medium of the examination will be English only.

For more details, please send an email to cptonline@icai.in or contact 0120-3054805 on telephone.

Additional Secretary(Exams)
Examination Department

Read more »

VAT Notes

TO Download VAT Notes Click Here

Read more »

ICSI Announcement

ICSI Announcement - Applicability of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011

1. For December 2011 Examination SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 shall be applicable. 

2. For June, 2012 Examination SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 shall be applicable. 

A copy of the new Takeover Regulations is uploaded on the Home page of ICSI Website under the head ‘From the Government/ Regulators’ for reference.

http://www.icsi.edu/WebModules/LinksOfWeeks/Notification%20of%20SEBI%20(SAST)%20Regulations,%202011.pdf

Read more »

Draft Code of Conduct for CA Students -ICAI

November 8, 2011

Draft Code of Conduct for Chartered Accountancy Students

In order to govern the conduct of Chartered Accountancy Students during the period of practical training and also that of the students pursuing Professional Competence Course (PCC) / Integrated Professional Competence Course (IPCC), prior to registration for practical training as well as of the students who have completed practical training but not yet passed Final examinations, it has been decided to prescribe a code of conduct for such students. Accordingly, a draft of the Code of Conduct has been framed and can be viewed by clicking Draft Code of Conduct for Chartered Accountancy Students. Students are requested to send their comments on the draft Code of Conduct which shall be considered by the Board of Studies and incorporated in the draft, if found acceptable, before finalization. The comments should be mailed to scravishankar@icai.org within 45 days from the date of hosting and not later than 22nd December, 2011.

Read more »