Way 2 Pinnacle : Academy of Excellence

congratulations to all who have cleared the exam, Please update us with your result !

and those who missed the target, just focus self and start with full determination to realize it next time.

CA Final & CPT result has been announced...
CA FINAL
Both 8.23%
1st Group- 23.41%
2nd Group- 10.26%

CA CPT- 14.74%

Group – I, Paper - 4 - Taxation of Intermediate (IPC) Examination scheduled for 14th November - 2014 stands postponed.

The said examination will now be held on 22nd November - 2014 (Saturday) from 2.00 PM to 5.00 PM.

The venue and timing of the said examination will remain unchanged.

Admit cards in respect of candidates admitted to the CA IPCC n Final November 2014 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in.

Result of the Chartered Accountants Intermediate (IPC) Examination held in May/June, 2014 are likely to be declared on Thursday, the 21st August, 2014

Section 194DA: 2% TDS on Life Insurance Policy Maturity Amount
Current Scenario
Currently, under section 10(10D) any sum received from life insurer is not taxable if the premium paid does not exceed 10% of the sum assured. Taxpayer would be liable only if he has paid premium more than 10% of the sum assured in any financial year. In that case the sum received would be added to his income under the head “Income from Other Sources” and taxed as per the slab.

Changes made in Budget 2014

Since there was no TDS, many taxpayers used to avoid the tax by not disclosing it in ITR. To overcome this issue Finance Minister in Budget has proposed to insert a new section 194DA under which TDS of 2% would be deducted by the insurer on the proceeds of life insurance policy (for both unit-linked insurance plans and traditional plans), if the premium paid by assessee exceeds 10% of the sum assured in any financial year. The deduction will be made on the entire amount including any sum allocated by the way of bonus.

However, only the policies maturing on or after October 1, 2014 will come under the purview of this amendment. Also, the TDS will not be attracted if the maturity amount is less than Rs. 1 lakh.

Sum received on the death of the insured is still not taxable.

Result of the Chartered Accountants Final Examination held in May/June, 2014 is likely to be declared on Friday, the 8th August, 2014

Take up one idea. Make that one idea your life - think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body, be full of that idea, and just leave every other idea alone. This is the way to success, that is way great spiritual giants are produced

Swami Vivekananda

On today 16th July 2014, ICAI also declared CPT pass percentage of June 2014 attempt after the declaration of the result which is 28.63%.

Passing ratio of Female candidates was almost 4% higher than that of Male candidates in CPT June 2014

Most wanted article: CA CPT Toppers June 2014 (Photos, Mobile No. & other details)

Gender

Total Appeared

Total Passed

CPT Pass Percentage

Male

78453

21190

27.01%

Female

51838

16113

31.08%

Total

130291

37303

28.63%

The CPT pass percentage June 2014 is 28.63%.

Revaluation/rechecking of CA CPT Dec 2013 (also applies to CPT June 2014)can be done by sending physical hand written copy only. Check below for the format of handwritten application format.

Verification Fees: Rs. 200 /-

Candidates of CPT can send in their handwritten verification applications along with the demand drafts for the applicable verification fees, so as to reach us, on or before the due dates

Details for verification of CPT June 2014 results are not updated by ICAI yet. Please check http://www.icai.org before applying for CPT verification of result or consider visiting nearest ICAI branch for further details. Thanks.

ICAI - The Institute of Chartered Accountants of India ICAI - The Institute of Chartered Accountants of India set up by an act of parliament. ICAI is established under the Chartered Accountants Act, 1949 (Act No. # # of 1949)

ICAI has declared CA CPT result June 2014 recently. Some of the students has passed. But some students could not. If you are one of those not passed students and thinking that you haven’t obtained marks as per your expectation then you should go for revaluation / verification/ rechecking of CA CPT / IPCC / CA Final May – June 2014 papers / answer sheet.