Clarification about Applicability of the latest Finance Act and other changes for Company Secretaries December, 2012 Examination.
DIRECT TAXES
All students may note that for Direct Taxes, applicable Assessment year for December 2012 Examination shall be 2012-13 (Previous Year 2011-12). Thus, Students are advised to study Finance Act, 2011 for December 2012 Examination. Further as per the Syllabus, (Executive and Professional Programme) students are required to update themselves about all the Circulars, Clarifications, Notifications, etc. issued by the CBDT & Central Government, on or before six months prior to the date of the respective examinations.
Gift Tax Act has been excluded from the scope of the examination from June 1999 session onwards unless otherwise informed.
INDIRECT TAXES
Students appearing in the ‘Tax Laws’ (Indirect Tax Portion to the extent of topics covered in the syllabus, of ‘Executive Programme’) and Advanced Tax Laws and Practice (Professional Programme) respectively may take note of the following changes applicable for December 2012 Examination.
1. All changes made by the Finance Act, 2012.
2. All Circulars, Clarifications/Notifications issued by CBEC / Central Government effective six months prior to the date of examination.
Note:
Students of Executive Programme may specifically Note that Change as made in Service Tax by Finance Act, 2012 shall be applicable for December, 2012 Examinations. Student may download the amendment
http://www.icsi.edu/docs/webmodules/linksofweeks/Tax%20updates%20for%20December%202012%20Exams%20.pdf
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