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ICAI- CPT June 2014 Exam Result date anounced

Monday, July 14, 2014 Posted by Unknown Announcement, CA CPT, CA Exam, CA Results, CA Students, ICAI No comments

Result of the Common Proficiency Test (CPT) held in June, 2014 is likely to be declared on Wednesday, the 16th July, 2014.

Important Announcement dated 11^th July, 2014

The result of the Common Proficiency Test (CPT) held in June, 2014 is likely to be declared on Wednesday, the 16th July, 2014 around 4.00 P.M. and the same as well as the merit list (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

Arrangements have also been made for the students of 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 11th July, 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 PIN no. alongwith his roll number.

Further, facilities have been made for students of Common Proficiency Test (CPT) held in June, 2014 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 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

Click here to download the above Announcement in PDF Format.

Source: The Institute of Chartered Accountants of India.

IT Announcement - Updating Contact details - PINs Validation extended up to 24 hours.

Saturday, June 28, 2014 Posted by Unknown Announcement, Income Tax No comments

Important Announcement for Tax payers for updating contact details in e-Filing Portal

Dear Tax Payers,

Income-Tax Department uses the registered contact details (Mobile number & E-mail ID) for all communications related to e-Filing. It is mandatory that all tax payers must have a valid contact details registered in e-Filing portal.

It is noticed that many registered users are not having authenticated contact details in e-Filing or may have provided details of other persons for convenience. This prevents the Department from interacting directly with taxpayers on their personal email and Mobile.

Further, it has been observed that in many cases taxpayers are not able to reset their password since the email communication from the Department may be sent to their registered email or Mobile which may be different from the taxpayer’s personal email or mobile.

Hence, it is requested that all the e-Filing users may immediately update and authenticate their correct contact details so that the communication can be sent to the valid Mobile number and E-mail ID.

The process of updating and authenticating the contact details are below.

New User

Provide the correct Mobile Number and Email ID during the Registration in the e-Filing portal, Activation link would be sent to the registered E-mail ID and a One Time Password (OTP also called PIN) is sent to the registered Mobile Number. User needs to Click on the Link provided in the E-mail and enter the OTP received in the mobile number for Successful activation of the registered user in e-Filing portal

Registered User

After the user logs in to the e-filing account, the user is requested to update the current Mobile number and E-mail ID. The user should update their personal Mobile number and Email so that the updated contact particulars are registered with the Department or confirm that the Mobile number and email ID already registered is their valid personal contacts.

Upon submitting the details, Department would immediately send OTPs (PIN1 & PIN2) to new mobile number and Email ID. The respective PINs- PIN1 and PIN2 received through Mobile number and E-mail ID should be entered by them in the respective input fields to authenticate that the email ID and mobile are correct. Upon successful validation the Mobile number and email ID would be updated in the taxpayer’s profile and the process would be complete.

If the PINs are not received within specified time (say 2 minutes), the taxpayer may opt for “Resend PINs” option. The PINs once received will be valid for 24 hours.

The taxpayers are advised to validate the contact details using the PINs received within 24 hours. If PINs are not validated within 24 hours, the taxpayer has to login and follow the same procedure as above again.

Note:

Taxpayers are advised to follow the process mentioned above in the interest of the security of their e-filing account and to directly receive communication from the Department about status of processing and issue of refunds etc.

This is a one-time process to validate the mobile number and email ID. However, whenever the taxpayer changes the Mobile Number or email ID in their Profile, the process will be repeated to ensure that the particulars provided are correct.

One mobile number or email ID can be used for a maximum of 4 user accounts as the Primary Contact- Mobile Number and Email ID in e-Filing. This is to ensure that family members (not exceeding 4 separate users) not having personal email or mobile can be covered under a common email or mobile, but in general taxpayers should have their own unique email ID and Mobile registered with the Department.

The taxpayer can enter any other person’s email or mobile number in addition as a Secondary Contact (without any restriction on the number of user accounts linked as a Secondary Contact). Using “Profile Settings >>> My Profile” the taxpayer can select to include the Secondary Contact to also receive emails, alerts etc.

Include the emails and SMS from the Income tax Department in the ‘safe list’ or ‘white list’ to prevent the communications from the Department from being blocked or rejected or sent to Spam folder.

As a best practice, please update and authenticate the current contact and address details under “Profile Settings >>> My Profile” after login to eFiling portal.

Click here to download the complete text of the above Announcement in PDF Format.

Source: Income Tax E-Filing Portal.

ICAI - Announcement on Interact with the Hon’ble Prime Minister of India

Thursday, June 26, 2014 Posted by Unknown Announcement, ICAI No comments

As you may be aware over the past few weeks, the Central Government has been receiving a series of thoughts, ideas and suggestions for reforms and changes in the sphere of governance.

With a view to streamlining the process of taking these ideas to the next stage and seeking better coordination, a special section called “Interact with Hon’ble PM” has been created on the website of the Prime Minister’s Office (PMO).

Members and students of the Institute are requested to share their views on matters of national and professional importance with the Hon’ble Prime Minister through above mechanism.

Source: The Institute of Chartered Accountants of India.

ICAI Announcement - Applicability of Section 143(3)(i) of the Companies Act 2013 and the related Rules

Monday, June 23, 2014 Posted by Unknown Announcement, ICAI No comments

Announcement*

Applicability of the provisions of Section 143(3)(i) of the Companies Act 2013 and the related Rules

Section 143(3)(i) of the Companies Act 2013 requires the auditors of the companies to report as whether the company has adequate internal financial controls system in place and the operating effectiveness of such controls.

The Council noted that the sections 143(3)(i) had come into force in respect of financial years beginning on or after 1st April 2014. The Council was of the view that the provisions of sections 143(3)(i) of the Companies Act 2013 applied to the auditors appointed under the Companies Act 2013 to audit the financial statements for the year beginning on or after 1st April 2014. As a corollary, the requirements of these sections and related Rules would not apply to audits of financial statements of the periods beginning on or before 31st March 2014, even if the audits therefor were actually carried out and auditor’s report thereon issued on or after 1st April 2014. These would continue to be done as per the requirements of the Companies Act 1956.

The Council also decided that as a corollary, the provisions of section 143(3)(i) of the Companies Act 2013 would apply to the audits of the financial year beginning on or after 1st April 2014.

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* This Announcement has been issued by the President, ICAI under the authority of the Council of the Institute of Chartered Accountants of India.

Source:The Institute of Chartered Accountants of India.

ICAI Announcement - Applicability of Section 143(12) to FYs beginning on or after 1st April 2014

Monday, June 23, 2014 Posted by Unknown Announcement, ICAI No comments

Announcement^*

Applicability of Section 143(12) to Financial Years beginning on or after 1st April 2014

The Council of the Institute of Chartered Accountants of India, at its adjourned 333rd meeting held on 18th June 2014, considered the issue of applicability of the provisions of section 143(12) of the Companies Act 2013 to the financial periods beginning on or after 1st April 2014. In other words, whether the statutory auditor would be required to report pursuant to section 143(12) while carrying out audits of financial statements for the interim periods, such as quarterly or half yearly audits.

The Council of the view that such quarterly/ half yearly audits are not carried out pursuant to the requirements of the Companies Act 2013 (rather to meet the specific requirements of the auditee company, for example, to comply with the listing agreement requirements) as the latter only envisages audit of the annual financial statements.

The Council, accordingly, felt that prima facie, as a corollary, section 143(12) would become applicable only for financial year (and not for a period) 2014-2015 and onwards. The Council is, however, in the process of communicating with the Ministry of Corporate Affairs in this regard.

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* This Announcement has been issued by the President ICAI under the authority of the Council of ICAI.

Source:The Institute of Chartered Accountants of India.

ICAI announcement on Applicability - Section 143(12) of the Companies Act 2013 and the Related Rules to Periods beginning on or before 31st March 2014.

Monday, June 23, 2014 Posted by Unknown Announcement, ICAI 1 comment

Announcement

Applicability of the provisions of Section 143(12) of the Companies Act 2013 and the related Rules to periods beginning on or before 31st March 2014

Section 143(12) of the Companies Act 2013 requires the auditors of the companies to report to the Central Government on the frauds committed or being committed against the company.

The Council noted that the sections 143(12) had come into force in respect of financial years beginning on or after 1st April 2014. The Council was of the view that the provisions of sections 143(12) of the Companies Act 2013 applied to the auditors appointed under the Companies Act 2013 to audit the financial statements for the year beginning on or after 1st April 2014. As a corollary, the requirements of these Sections and related Rules would not apply to audits of financial statements of the periods beginning on or before 31st March 2014, even if the audits therefor were actually carried out and auditor’s report thereon issued on or after 1st April 2014.

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* This Announcement has been issued by the President, ICAI under the authority of the Council of the Institute of Chartered Accountants of India.

Source:The Institute of Chartered Accountants of India.

Announcement for Tax payers for updating Contact Details in E-Filing Portal

Friday, June 20, 2014 Posted by Unknown Announcement, Income Tax No comments

Important Announcement for Tax payers for updating Contact Details in E-Filing Portal

Dear Tax Payers,

The process of updating and authenticating the contact details are below.

New User	Provide the correct Mobile Number and Email ID during the Registration in the e-Filing portal, Activation link would be sent to the registered E-mail ID and a One Time Password (OTP also called PIN) is sent to the registered Mobile Number. User needs to Click on the Link provided in the E-mail and enter the OTP received in the mobile number for Successful activation of the registered user in e-Filing portal
Registered User	After the user logs in to the e-filing account, there will be a pop-up requesting the user to update the current Mobile number and E-mail ID. The user should update their personal Mobile number and Email so that the updated contact particulars are registered with the Department or confirm that the Mobile number and email ID already registered is their valid personal contacts. Upon submitting the details, Department would immediately send OTPs (PIN1 & PIN2) to new mobile number and Email ID. The respective PINs- PIN1 and PIN2 received through Mobile number and E-mail ID should be entered by them in the respective input fields to authenticate that the email ID and mobile are correct. Upon successful validation the Mobile number and email ID would be updated in the taxpayer’s profile and the process would be complete. The PIN1 and PIN2 would be valid only for the session – so taxpayers are advised not to close the webpage till PINs are entered and validated. In case of any difficulty or delay, the taxpayer can log in again and follow the same process to update the current contact details.
Note:	Taxpayers are advised to follow the process mentioned above in the interest of the security of their e-filing account and to directly receive communication from the Department about status of processing and issue of refunds etc. This is a one-time process to validate the mobile number and email ID. However, whenever the taxpayer changes the Mobile Number or email ID in their Profile, the process will be repeated to ensure that the particulars provided are correct. One mobile number or email ID can be used for a maximum of 4 user accounts as the Primary Contact- Mobile Number and Email ID in e-Filing. This is to ensure that family members (not exceeding 4 separate users) not having personal email or mobile can be covered under a common email or mobile, but in general taxpayers should have their own unique email ID and Mobile registered with the Department. The taxpayer can enter any other person’s email or mobile number in addition as a Secondary Contact (without any restriction on the number of user accounts linked as a Secondary Contact). Using “Profile Settings à My Profile” the taxpayer can select to include the Secondary Contact to also receive emails, alerts etc. Include the emails and SMS from the Income tax Department in the ‘safe list’ or ‘white list’ to prevent the communications from the Department from being blocked or rejected or sent to Spam folder. As a best practice, please update and authenticate the current contact and address details under “Profile Settings àMy Profile” after login to eFiling portal.

Click here to download the complete text of the above Announcement in PDF Format.

Source: Income Tax E-Filing Portal.

ICAI - Release of Supplementary Study Material on the notified sections of Chapter IX & X of the Companies Act, 2013 along with its Rules

Tuesday, June 03, 2014 Posted by Unknown Announcement, CA Exam, CA Final, CA Students, CA Study Material, ICAI No comments

Important Announcement dated 2nd June, 2014

Attention: Final Course Students - November 2014 Examinations

Release of Supplementary Study Material on the notified sections of Chapter IX, “Accounts of Companies” and Chapter X, “Audit and Auditors” of the Companies Act, 2013 along with its Rules

Attention of students is invited to the announcement dated 20th May, 2014 hosted on the students’ portal at http://220.227.161.86/33530bos23144nov14.pdf regarding applicability of the notified sections of Chapter IX, “Accounts of Companies” and Chapter X, “Audit and Auditors” of the Companies Act, 2013, along with its Rules for November 2014 examinations in respect of following papers:

· Paper 1: Financial Reporting (Group I)

· Paper 3: Advanced Auditing and Professional Ethics (Group I)

· Paper 4: Corporate and Allied Laws (Group I)

The Board of Studies hereby releases supplementary study material relevant for November, 2014 examinations at the following link: http://220.227.161.86/33649bos23281.pdf

Students may also note that supplementary study material covering 45 sections of the Companies Act, 2013 which are also applicable for November 2014 examinations has already been hosted at the students’ portal on 15th March, 2014 at http://220.227.161.86/32793ssp-p4final.pdf

Source: The Institute of Chartered Accountants of India.

ICAI - No Change in the date of Examination scheduled for 3rd & 4th June, 2014

Tuesday, June 03, 2014 Posted by Unknown Announcement, CA Exam, CA Final, CA IPC, CA Students, ICAI No comments

No.13-CA(Exam)May-2014 dated June 03, 2014

Announcement

Certain enquiries are being received as regard to the holding of examination on 3rd & 4th June, 2014.

In this connection, attention of the candidates of CA Examinations May, 2014 and other stakeholders is invited to the Notes for information of the candidates made available with the examination application form that there will be no change in the date/s of examinations on account of any holiday, declared by the Central /State Government or any other reason.

Accordingly, it is clarified that the CA examinations of Paper - 5, Group – II, Advanced Management Accounting of Final and Module – 1, Principles and Practice of Insurance of IRM and Paper – 5, Group II, Advanced Accounting of Intermediate (IPC) shall be held on 3rd June, 2014 (Tuesday) and 4th June, 2014 (Wednesday) respectively, as already scheduled and notified.

In other words, there will be no change in the schedule of ongoing examinations.

Source:The Institute of Chartered Accountants of India.

ICAI - Announcement - Prohibition to undertake the assignment of Audit and Accounting work together for the Same Entity

Wednesday, May 21, 2014 Posted by Unknown Announcement, ICAI No comments

No. ICAI/ESB/2014/03

Announcement on Prohibition to undertake the assignment of Audit and Accounting work together for the Same Entity

It has come to the knowledge of some members that certain entities, while inviting tenders for services of chartered accountants for the assignment of statutory audit, are mentioning accounting and book keeping related works in the scope of works required to done by the auditor.

Members are hereby advised not to undertake such assignment since it is violative of the provisions of 'Code of Ethics' and 'Guidance Note on Independence of Auditors' for auditor of an entity to do book keeping work of the entity. The said prohibition in the case of Companies is further also mentioned in Section 144 of the Companies Act, 2013.

Source: The Institute of Chartered Accountants of India.

ICAI - Change of Examination Centre in Siliguri (West Bengal)

Saturday, May 17, 2014 Posted by Unknown Announcement, CA Exam, CA Final, CA IPC, CA Students, ICAI No comments

Important Announcement of Change of Examination Centre in Siliguri (West Bengal)

No. 13-CA (EXAM)/M/2014/Siliguri, dated 13th May, 2014

Chartered Accountants Intermediate, Final & IRM Examination – May / June, 2014

Subject: Change of Examination Centre in Siliguri (West Bengal)

Due to unavoidable circumstances, the captioned examinations will not be conducted in the Siliguri Hindi High School (H.S), Near Jalpai More, S. F. Road, Siliguri (West Bengal). The said examinations will now be held in Hindi Balika Vidyapith, S. P. Mukherjee Road, Khalpara, Siliguri – 734005 (West Bengal).

Accordingly, all the candidates allocated to the examination centre initially in Siliguri Hindi High School (H.S), Near Jalpai More, S. F. Road, Siliguri (West Bengal) have been re-allocated to Hindi Balika Vidyapith, S. P. Mukherjee Road, Khalpara, Siliguri – 734005 (West Bengal).

Candidates appearing in the captioned examinations from Siliguri may note that the Intermediate (IPC), Final and IRM Examination, May / June 2014 will now be held in the Hindi Balika Vidyapith, S. P. Mukherjee Road, Khalpara, Siliguri – 734005 (West Bengal) and not in the Siliguri Hindi High School (H.S), Near Jalpai More, S. F. Road, Siliguri (West Bengal)

The admit cards already issued shall remain valid. All other details also remain unchanged.

Source: The Institute of Chartered Accountants of India.

ICAI – Provisional Admission to Final Examination to be held in May 2014

Friday, May 09, 2014 Posted by Unknown Announcement, CA Exam, CA Final, CA IPC, CA Students, ICAI, Intermediate (Integrated Professional Competence) No comments

Announcement dated 8th May, 2014

Provisional Admission to Final Examination to be held in May 2014

Queries are being received from candidates who have been admitted provisionally to Final examination to be held in May 2014, about the status of their admission to the said examination.

Candidates not complying with any one or more of the eligibility requirements, mentioned below, have been admitted to the CA Final examination, on a provisional basis. Admit cards issued to those candidates contain the words “Provisional”

1. The candidate should have passed the Intermediate (IPC) Examination or PE II/PCC/IPCE/Intermediate Examination.

2. The candidate should have been registered for Final Course.

3. The candidate must have a valid registration to the Final Course, as on the date of applying for the exam. Since registration to Final course is valid for 5 years from the date of registration, students whose registration has expired are required to revalidate their registration by applying to the Regional Office concerned along with the requisite fee.

4. The candidate must have

· Completed the prescribed period of articled training on or before 30th April 2014; or

· Must be serving the last 6 months (12 months in the case of those who came through PE II route) of articleship, i.e., would be completing their articleship (including excess leave, if any) on or before 31st October 2014 (on or before 30^th April 2015, in the case of those who came through PE II route) and be in service as on 1st May 2014. However, this condition of being in service as on 1st May 2014 in articleship, is not applicable to those who are eligible to appear in the Final examination for the first time. Candidates who might have taken termination of articleship for any reason, are required to have re-registered for articleship prior to 1st May 2014 to comply with the above requirement.

Detailed eligibility conditions are published in the Guidance Notes made available with the examination forms and are also hosted on http://icaiexam.icai.org.

Candidates are advised to ensure that they fulfill above eligibility conditions /requirements, failing which their results may not be processed.

Click here to download the above Announcement in PDF Format.

Source: The Institute of Chartered Accountants of India.

ICAI - Correction Window - CPT (Examination) June 2014

Friday, May 02, 2014 Posted by Unknown Announcement, ICAI No comments

Announcement dated 01st May, 2014

Correction Window-CPT (Examination) June 2014

It is seen that candidates while filling the exam application forms (either online or physical) do not exercise reasonable care and commit errors. This creates lots of difficulties for them as well as the office at Admit Card stage and thereafter.

With a view to provide them an additional opportunity to rectify errors, if any, committed while filling up the exam application forms online, in the fields relating to centre, registration number, and medium, an online “Correction Window” has been hosted on www.icaiexam.icai.org.

Thus, “Correction Window” is a platform in the online exam application form submission process, where candidates can view and submit their request to correct errors, if any, committed by them while submitting the exam application form, in the fields relating to centre, registration number and medium opted.

The terms and conditions in this regard are as follows:

1. This facility is available at http://icaiexam.icai.org, from 10.00 a.m. of 01.05.2014 to 5.30 p.m. of 07.05.2014 and no requests for change in centre/medium will be entertained from online applicants in any other manner after 07-05-2014.

2. This facility is available only to those who had submitted their exam application forms online.

3. This window is not for fresh submission of exam forms and is meant only for correction of errors, if any, in the exam application forms already submitted online.

4. Candidates can access the portal by entering the following details, as filled in by them in their exam application forms:

· Bar code number/control number printed on their online application form

· PIN (i.e. the four digit number of their choice which they had filled in their exam application form) and

· Date of birth.

5. Following details, submitted by the candidates in their online examination application form will be displayed on the screen.

· Name of the candidate

· Registration number and

· Medium/centre opted

6. Candidates will be permitted to submit their request for changes, if any, in any of the following three fields only:

City/Zone (as applicable) opted. (Change from domestic centre to centre abroad is not permitted)

Registration number

Medium opted

7. A change may include change of centre/registration number/medium either jointly or severally.

8. Candidate will not be permitted to make any corrections/changes to any other field.

9. The requests should be made by the student and not by anyone on his/her behalf. Please do not share your PIN with anyone else in your own interest.

10. Corrections, once submitted, cannot be changed thereafter.

11. The above facility will be available free of cost.

12. The candidate should upload a scanned copy of a handwritten application in this regard, duly signed by him, seeking the corrections required.

13. Those candidates (who had submitted their exam application forms online) and who might have already submitted a handwritten request for change of centre/registration number/medium, are also advised to submit such request/s, online, through this Correction Window, once again. Changes sought through the Correction Window will be treated as final.

14. Admit cards will be hosted on www.icai.nic.in based on the examination application form and the correction received till the correction window closes.

15. Those who had submitted the traditional OMR exam application forms and seeking corrections in the fields mentioned above and any other correction like in the spelling of the name etc. may contact the exam department at cpt_exam@icai.in.

Candidates are requested to take advantage of this facility and correct errors, if any, committed while filling the exam application form online.

Click here to download the above Announcement in PDF Format.

Source: The Institute of Chartered Accountants of India.