HOW was TAXATION of PCC\IPCC?

Page no : 2

jose.p (CA in service) (1676 Points)
Replied 14 November 2009

overall easy; easy for average student toget around 55.but the theoritical questions on service tax and VAT (some) required a bit deeper understanding. the first true false questions required students to have exact knowledge of Sections, sub,clauses.So that was difficult. the first one was amendment of finance act 2008. after reading the paper; i thought i would get 65+.outside the hall i have found some of my silly mistakes(like exempting pension;fee as lecturer at trinidad; and keeping salary from partnership under PGBP.

(Guest)

Originally posted by :The Harsht Aggarwal*
"	Originally posted by :D н ! я σ √ Ramchandani " Hi Rakesh,,, wherez the paper man.. We all are waiting for u to upload it,, do it asap, coz i know its only who can do that so early... Thanx " Yes........i m also waiting 4 the same !!	"

Hiiiiiiiiiiiiiii all of you can download...........

/forum/messages/2009/11/55355_download_pcc_paper_5_income_tax_paper_was_quite_easy_.asp

shakeel Ahmed (CA Final & CS Final Student) (128 Points)
Replied 14 November 2009

xam was good bt compare to previous all attempt paper was different ....

ankita (article) (28 Points)
Replied 14 November 2009

it ws a real ...... wat to say..

dnt knw wats happenin to the commitee.... all sections and sections..... in short bakwas paper

Originally posted by :Shashi Bhushan
"	how was your TAxation paper? was there any change in pattern? this time PCC and IPCC cant be same. so wht was IPCC pattern because it was income tax-50marks, service tax-25 and VAT-25 marks	"

Anand Luhar (Entrepreneur(CA/CWA Gold Medal)) (254 Points)
Replied 14 November 2009

such an easy ipcc tax paper i dont think that i will get less than 70 mark such easy all direct question from book sorry but i aslo was able to recall the figure also so all amswer correct and vat service tax of 50 mark was bonus very easy

rashmi (Student of IPCC Nov 2009) (136 Points)
Replied 14 November 2009

IPCC paper was easyyy

VAT & Service tax was very easy

Q 1 on total income & tax payable was tricky

Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 14 November 2009

IPCC was easy students were happy.

but PCC was not. students were not happy.

Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 14 November 2009

what was treatment of 3(b) question on TDS for 8 marks(PCC paper)?

tds of 10 % to be deducted from 100000 or 110300?

Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 14 November 2009

Originally posted by :Anand
"	such an easy ipcc tax paper i dont think that i will get less than 70 mark such easy all direct question from book sorry but i aslo was able to recall the figure also so all amswer correct and vat service tax of 50 mark was bonus very easy	"

Congrates then!!!!!!!!

Anand Luhar (Entrepreneur(CA/CWA Gold Medal)) (254 Points)
Replied 14 November 2009

Originally posted by :Shashi Bhushan
"	Originally posted by :Anand " such an easy ipcc tax paper i dont think that i will get less than 70 mark such easy all direct question from book sorry but i aslo was able to recall the figure also so all amswer correct and vat service tax of 50 mark was bonus very easy " Congrates then!!!!!!!!	"

thanks but my law and costing paper was too bad means too bad but audit grp 2 will get 65+ and A/c grp1 will get 60+ so hope inst get pass or will have to give this 2 paper again my bad paper r very bad and good very good

rajeev kumar, bcom ca-final (study) (196 Points)
Replied 14 November 2009

qno 8

Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 14 November 2009

Originally posted by :Anand
"	Originally posted by :Anand " such an easy ipcc tax paper i dont think that i will get less than 70 mark such easy all direct question from book sorry but i aslo was able to recall the figure also so all amswer correct and vat service tax of 50 mark was bonus very easy " Congrates then!!!!!!!! " thanks but my law and costing paper was too bad means too bad but audit grp 2 will get 65+ and A/c grp1 will get 60+ so hope inst get pass or will have to give this 2 paper again my bad paper r very bad and good very good	"

dont worry about them. you concentrate on remaining two. you can get 40 in very bad papers and 60 in very good papers.

just dont worry. you can also plan to get 60+ in accounts. in this way you wil get exemption in 3 subjects. so best of luck. a good result is waiting for you.

Deepak.R (CA - PCC Student / Articled assistant) (177 Points)
Replied 14 November 2009

hey ,

i think dat tds related question will be solved by dis way..

ie. Rs.1,00,000 is inclusive of 10.3 percent service tax.. tds will be made on d amt exclusive of service tax., ie. Rs.1,00,000 * 100/110.3 = 90,662.

TDS at 15.45 percent on RS.90,662.... 90,662 * 15.45/100 = Rs.14,007..

am i right..,.,

Girish Mathuria (STUDENt) (138 Points)
Replied 14 November 2009

paper was very easy n short..........

Dhruv (Chartered Accountant) (308 Points)
Replied 14 November 2009

Actually that question is open to interpretation a bit, it says service tax is 'charged' on lease rent..so you can actually take the 10,00,000 to be just rent and not inclusive of service tax...

And TDS will be deductable at the rate of 16.995% , the assesee ( person receiving income ) is earning more than 10,00,000 in a year, so surcharge will be applicable at 15% ...that comes out to be 16.5% and 3% on that ..comes out to be 16.995%...

And it's better you mention that a recent circular stated that TDS not deductible on service tax component, let's the examiner know you're versed with the amendments