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CA IPCC Tax Amendments for May 2014 Exam - (Service Tax, Vat)

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CA IPCC Tax Amendments for May 2014 Exam

December 30, 20138 Comments
Here I am giving CA IPCC Tax amendments for May 2014 CA IPCC exam. I have recently also given the amendments and notifications for Accounting for IPCC May 2014 examination. Check below for Taxation amendments for Intermediate/IPCC May 2014 examination. I will recommend you to get Practice Manual and Study Material for IPCC May 2014 exam, you can download pdf file from below given links.

IPCC Tax Amendments May 2014

IPCC Taxation amendments for May 2014 exam are not updated by ICAI. Stay tune with CAcracker to get notified when ICAI updates it.

But you can download this Taxation supplementary study material for IPCC Tax May 2014.

Few tax amendments:

=> A rebate of Rs.2,000 from tax calculated will be available for people having an annual income upto Rs.5 Lakh. Thus we can say that tax payable in 10% slab will be maximum Rs.28,000 (taking into account Rs.2,000 tax credit).

 Surcharge of 10% will be payable if income is above Rs.1 Crore

Income Range
Men and Women (Below 60 Years of Age)
Senior Citizens (Men and Women above 60 years of age) but below 80 years
Super Senior Citizens ( Men and Women above 80 Years of Age
Upto Rs.2,00,000/-
Nil
Nil
Nil
2,00,000 to 2,50,000
10%
Nil
Nil
2,50,000 to 5,00,000
10%
10%
Nil
5,00,000 to 10,00,000
20%
20%
20%
Above Rs.10,00,000
30%
30%
30%

 

Must check and download:-
>Download ICAI Study Material & Practice Manual for CA IPCC – May 2014

Must download:- CA IPCC May 2014 RTP

IPCC Tax amendments Nov 2013

The following amendments are applicable for Nov 2013 Taxation examination.

AMENDMENTS MADE BY Finance ACT 2012

As Applicable for CA November 2013 Examinations

Tax Slab rate applicable for AY 2013-14. In case of individual (Incl. woman assesses also) / HUF/ AOP/ BOI and every artificial juridical person

TOTAL INCOME

AMOUNT OF TAX

Up to Rs. 2,00,000

NIL

Rs. 2,00,000 to Rs. 5,00,000

10%

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

2. For a Resident individual, being a Sr. Citizen, Age>60 yrs at any time during the P/Y.

TOTAL INCOME

AMOUNT OF TAX

Up to Rs. 2,50,000

NIL

Rs. 2,50,000 to Rs. 5,00,000

10%

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

3. For a resident individual, being a Super Sr. Citizen, Age>80 yrs at any time during the P/Y.

TOTAL INCOME

AMOUNT OF TAX

Up to Rs. 5,00,000

NIL

Rs. 5,00,000 to Rs. 10,00,000

20%

Above Rs. 10,00,000

30%

4. Eligibility conditions for exempt life insurance policies:[Sec10(10D)]: Clause(d)

 Applicability of Finance Act, Assessment Year etc. for November, 2013 examination

(1) The amendments made by the Finance Act, 2012 in income-tax and service tax;

(2) The provisions of income-tax law as applicable for the assessment year 2013-14;

(3) The significant notifications and circulars issued upto 30th April, 2013 (income-tax and service tax)
(The Study Materials relevant for May, 2013 and November, 2013 examinations are updated based on the provisions of law as amended by the Finance Act, 2012 and significant circulars and notifications issued up to 30.6.2012. The amendments made by the Finance Act, 2012 in income-tax and service-tax and notifications and circulars issued between 1.5.2011 and 30.4.2012 in income-tax are also separately discussed in the publication “Supplementary Study Paper-2012”.)

More updates coming soon..

That’s it for IPCC Taxation amendments for Nov 2013 exam. We will also provide RTP very soon.
Stay tuned !!!


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Filed in: AmendmentsCACA IPCC / Intermediate
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Comments (8)

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  1. Smit says:

    This is it ?
    Also would you mind emailing me the amendments for Nov’12 exam, actually I have given May’12 exams and skipped Nov’12 so have not been in touch since.
    It would be really helpful if you could mail me attachments of all major amendments after May’12.
    Thanks :)

  2. sir actually i am not attampt may 2013 exam and now i ll attampt november2013 exam to maine tax may exam ke lie padha tha to kya wo nov 2013exam ke lie valid hoga kya plz mere id pr ans de dijie plz

  3. Pawan says:

    Please send me the updated tax amendments

  4. Sandeep Saini says:

    sir i have tax book of Nov 13 attempt can i use that in may 2014 too
    can I amend that book and use it for may 2014

  5. JAYANT TRIPATHY says:

    Please send me the updated tax amendments FOR MAY 2014 EXAM (IPCC)

  6. youginder says:

    is company act 2013 is applicable for nov 2014

  7. maheshwari says:

    thankuuuuuuuuu………

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