Yesterday we reported an error in an result declared by ICAI of a student in which she was shown pass despite scoring less then 50%. ICAI has accepted the mistake and issued the following press release :-
The Ministry of Labour and Employment has informed that there is no unclaimed fund lying with Employees’ Provident Fund Organization. However, there are certain accounts which are classified as Inoperative Accounts and all such accounts have a definite claimant. For the year 2011-12 an amount of Rs. 22,636.57 crore (provisional) is lying in Inoperative Accounts. The Government has not chalked out any policy to utilize this money. However, (i) In respect of unclaimed amount in insurance industry, IRDA has advised the insurers that unclaimed sum would not be appropriated/written back.
The Reserve Bank of India (RBI) has, revised its guideline on Priority Sector Lending (PSL) on 20.07.2012. The details of important changes in the activities included in the revised Priority Sector Lending guidelines are as under: • Overall target under priority sector is retained at 40 per cent. The targets for both direct and indirect agricultural lending are kept unchanged at 13.5 per cent and 4.5 per cent of Adjusted Net Bank Credit, respectively.
The Institute of Chartered Accountants of India (ICAI) announced the results of following examinations held in May, 2012 on August 7, 2012. Professional Competence Course (PCC) Integrated Professional Competence Course (IPCC) The toppers of Professional Competence Course (PCC) examination held in May, 2012 are from Delhi, Surat & Woollapalem (Andhra Pradesh). The details of the top three rank holders on all India basis for PCC along with the marks secured by them are mentioned at Annexure-A. The pass percentage of students in PCC is placed at Annexure-B.
A CA student who appears in one Group of CA IPCE Exams has to score Minimum 50% in Aggregate and 40 marks in each of the three paper. So in aggregate she has to score minimum 150 Marks out of total 300 marks to pass in examination. But recently we come across a case in which a CA student who appeared for May 2012 Examination whose result got declared on 07.08.2012 shown as pass despite scoring in aggregate less then 50% in one of the group She appeared. The student has scored only 133 out of 300 Marks but still shown as pass on CA Result portal http://www.caresults.nic.in . There seems to be some discrepancy in ICAI exam portal which ICAI needs to rectify to stop repeat of such occurrences in future.
In view of grant of exemption by the Institute of Chartered Accountants of India to the Intermediate qualified candidates of the Institute of Cost Accountants of India from passing their Common Proficiency Test, the Institute of Cost Accountants of India has granted exemption on reciprocal basis to the Intermediate Examination (by whatever name called) qualified candidates of the Institute of Chartered Accountants of India from passing the Foundation Course Examination of the Institute of Cost Accountants of India with immediate effect.
ICAI: Online submission of CA Exam form for November 2012: Start Date : 06/08/2012 Last Date for online submission of Form without late fees : 27/08/2012 Last Date for online submission of Form with late fees : 03/09/2012 Registration for Online submission of Exam forms for November 2012 Exam closes at 17:30 hrs IST of […]
Income tax Department has finally released ITR 6 for online Filing of Income Tax Return For Companies other than companies claiming exemption under section 11 for the Assessment Year 2012-13 / Financial year 2011-12. We are giving below the official link to download the ITR for A.Y. 2012-13/ F.Y. 2011-12.
Despite government efforts to institute reforms in the Bureau of Customs, the 3 o’clock habit or practice of collecting and distributing bribe money to corrupt among the bureau’s personnel remained unabated, Senator Panfilo Lacson said on Thursday. Lacson told a weekly forum at the Senate that the distribution of “tara” or bribe to Customs employees was still being held at 3 o’clock every Friday afternoon when employees gathered in the Customs zone.
This is to inform all concerned that with the issuance of the Notification No. 1-CA(7)/145/2012 on August 1, 2012, the provisions relating to Direct Entry Scheme for Graduates/Post Graduates, etc., with prescribed percentage of marks, to the Chartered Accountancy Course have come into force from August 1, 2012. The said Notification is reproduced hereinbelow for information of all concerned.
