ATTENTION STUDENTS!
Applicability of the latest Finance Act and other changes for Company Secretaries December, 2010 Examination.
DIRECT TAXES
All students may note that for the December 2010 Examination Session in respect of Direct Taxes the applicable Assessment Year shall be 2010-11 (Previous Year 2009-10).
Thus, they will have to study Finance Act, 2009 for December 2010 Examination. Further as per the Syllabus (for both Executive Programme and Final or Professional Programme) students are required to update themselves about all the Circulars, Clarifications, Notifications, etc., issued by the CBDT & Central Government, which come into effect on or before six months prior to the date of the respective exam inations.
INDIRECT TAXES
Students appearing in the ‘Tax Laws’ (Indirect Tax Portion to the extent of topics covered in the syllabus, for both ‘Executive Programme’ and Direct and Indirect Taxation—Law and Practice (Final Course) or Advanced Tax Laws and Practice (Professional Programme) respectively may take note of the following changes applicable for December 2010 Examination.
1 All changes made by the Finance Act, 2010.
2. All Circulars, Clarifications/Notifications issued by CBEC/Central Government which became effective six months prior to the date of exam ination.
Source: - http://www.icsi.edu/Student/tabid/528/Default.aspx
The Right to Information Act which is synonymous with “empowerment and transparency” will now have its own logo and a dedicated web portal that will not only act as a “knowledge bank” for information seekers and providers but will also provide them a platform to network.
The powerful law, which came into effect five years ago and allows citizens access to government records at a meagre of fee of Rs 10, has got a modest logo depicting a sheet of paper with information on it, and the public authority – providing the information.
The new logo was launched by the Minister of State for Personnel, Public Grievances and Pensions Prithviraj Chavan in the presence of Secretary Department of Personal and Training Shantanu Consul.
The logo would be displayed at all public authorities and will be used in various communications related to RTI. The Minister said the logo represents people’s empowerment and accountability in governance. He also added that the logo’s shape and structure are easy to remember, recall and replicate with minimal distortion. Chavan said the logo represents the core values of the RTI regime – empowerment, transparency and accountability.
The Minister also launched an RTI portal ‘www.rtigateway.org.in’ which will be a “knowledge bank” for the information seekers, information providers, trainers, Information Commissions, students and academicians. The portal will have a digital library, discussion fora, e-newsletter and a blog. It will also carry latest judgments of High Courts and Information Commissions; reports, articles, guides, manuals, handbooks for various stakeholders and online certificate course. There is facility for stakeholders to interact through dedicated and open discussion forum and register as resource persons, the statement said.
Source: ddinews website
The government said that it would not be able to table the new Companies Bill that was expected to be enacted by the end of this year, in the Parliament’s winter session. Failing to meet the earlier deadline of tabling the Companies Bill 2009 in the winter session, Corporate Affairs Minister Salman Khurshid said the bill would now come in the budget session beginning February next year.
Companies Bill 2009, which lapsed with the dissolution of the 14th Lok Sabha, was reintroduced in the Lok Sabha in August last year.
Subsequently, in August this year the Parliamentary Standing Committee on Finance gave its report after examining the provisions of the law.
The new Companies Bill which seeks to fix more responsibility on independent directors, comes in the backdrop of the multi-crore accounting fraud in Satyam Computer Services last year that exposed gaping holes in the existing corporate governance norms in the country and highlighted the need for stricter norms.
The Bill will also protect the rights of the minority shareholders; bring about responsible self-regulation with adequate disclosure and accountability, and lesser government control over internal corporate processes.
Source: ddinews.gov.in
MODEL EXAMINATION FOR DECEMBER 2010 EXAMINATION
The SIRC of the ICSI is organizing model examination
for December 2010 examinations for Foundation, Executive
and Professional Programme from November 22, 2010 to
November 29, 2010 at SIRC of the ICSI, No.9, Wheat Crofts Road,Nungambakkam, Chennai.
The Model Examination will be an
exercise to the students to confidently face the Institute’s main
examination and also to have a model of what is expected from the
students in the Institute’s examination.
The Model Examination fee
is Rs.200/- per Module.
The fee can be remitted by way of cash
or Demand Draft favouring SIRC of the ICSI, payable at Chennai.
The last date for Registration is November 15, 2010.
Interested
Students may contact SIRC of the ICSI through phone (044)
28279898 / 28268685;
E-mail: siro@icsi.edu
TIME TABLE & PROGRAMME
MORNING – 10.00 AM TO 01.00 PM
DATE & DAY FOUNDATION PROGRAMME
22.11.2010 Monday English and Business Communication
23.11.2010 Tuesday Economics and Statistics
24.11.2010 Wednesday Financial Accounting
25.11.2010 Thursday Elements of Business Laws and Management
DATE & DAY EXECUTIVE PROGRAMME - MODULE-I
22.11.2010 Monday General and Commercial Laws
23.11.2010 Tuesday Company Accounts & Cost and Management
Accounting
24.11.2010 Wednesday Tax Laws
DATE & DAY EXECUTIVE PROGRAMME - MODULE-II
25.11.2010 Thursday Company Law
26.11.2010 Friday Economic and Labour Laws
27.11.2010 Saturday Securities Laws and Compliances
DATE & DAY PROFESSIONAL PROGRAMME - MODULE-I
22.11.2010 Monday Company Secretarial Practice
23.11.2010 Tuesday Drafting, Appearances and Pleadings
DATE & DAY PROFESSIONAL PROGRAMME - MODULE-II
24.11.2010 Wednesday Financial, Treasury and Forex Management
25.11.2010 Thursday Corporate Restructuring and Insolvency
DATE & DAY PROFESSIONAL PROGRAMME - MODULE-III
26.11.2010 Friday Strategic Management, Alliances and
International Trade
27.11.2010 Saturday Advanced Tax Laws and Practice
DATE & DAY PROFESSIONAL PROGRAMME - MODULE-IV
28.11.2010 Sunday Due Diligence and Corporate Compliance
Management
29.11.2010 Monday Governance, Business Ethics and Sustainability
Above model examination will be conducted subject to registration
of sufficient number of candidates for the Model Examination.
source :: student company secretary magazine. october 2010 edition.
Dear Friends
Previous session question papers i.e June 2010 Examination, then Just click the following link:
Foundation Programme:
1. English and Business Communication
2. Economics and Statistics
3. Financial Accounting
4. Elements of Business Laws and Management
Executive Programme
1. General And Commercial Laws
2. Company Accounts, Cost & Management Accounting
3. Tax Laws
4. Company Law
5. Economics And Labour Laws
6. Securities Laws And Compliances
Professional Programme
1. Company Secretarial Practice
2. Drafting Appearances and Pleadings
3. Financial Treasury and Forex Management
4.Corporate Restructuring and Insolvency
5. Strategic Management Alliances and International Trade
6.Advanced Tax Laws and Practice
7.Due Diligence and Corporate Compliance Management
8.Governance Business Ethics and Sustainability
All the Best for CS Dec. 2010 Examinations. Keep Rocking ........
Send your Feedbacks / Comments to Mobile no. 9942372507 / 9486121470. We need your support and encouragement for Upcoming events of SACS - Salem
Regards
Chairman & Secretary
SACS - Salem
Genius are Made not Born.
Dear friends,
Our Salem Chapter of SIRC of ICSI successfully organized Investors Awareness Programme in Salem on July 14, 2010 Chief Guest was SIRC Chairman, Vice – Chairman, Secretary and Past Chairman of SIRC.
Salem Chapter of ICSI and Students Association of Company Secretaries of Salem (SACS - Salem) organized Chairman and Students Meet on July 14, 2010. Discussion about Exam Centre in Salem, SIP, Aptech Computer Education.
Regards
SACS - Salem
Genius are Made not Born
ORAL COACHING CLASSES FOR FOUNDATION & EXECUTIVE PROGRAMME (M I & II) FOR DECEMBER 2010 EXAMINATION:
Salem Chapter of Southern India Regional Office of The Institute of Company Secretaries of India – is commencing 3rd Oral Coaching Classes for Foundation Programme and Executive Programme December 2010 examination. Last Date for Registration is 19th June, 2010
For Details Contact:
Salem Chapter of SIRC of the ICSI
No. 82/2 Sivayanagar 5th Main Street Yerikkarai Road , Reddiyur
Salem - 636016.
Phone No. 0427 - 2441050
The Salem Chapter of ICSI and Members of SACS-SALEM have organized the Association meet on 02nd May, 2010 in Topic of Do’s and Don’ts in Examination point of view. Around 25 students attended the program.
The meeting started at 11. 00 AM with a prayer song by Mr. Arunachalam (PP), Secretary, SACS-Salem. The prayer song was followed by a welcome address by Mr. PL. Manickam (PP), Chairman of SACS-Salem. He welcomed CS N Santhanam, Secretary of Salem Chapter, Chief Guest CA. RM Veerappan and CS Boopalan, JSW steels, Salem.
Mr. Thulasi, Executive Programme, Student of ICSI read out the previous Students Meet held on 04th April, 2010.
Mr. CA RM. Veerappan, Practising Chartered Accountant & Visiting faculty of Erode Branch and Salem Branch of CA Institutes dealt the session
CA RM. Veerappan started off with Do’s and Don’ts in Examination view by pointed out the some of the students mistakes in answer sheets and in examination hall and he gave some tips to students like carrying calculator for all the exams, water bottle and mention the Question Numbers properly in the answer sheet etc., He discussed about the frequent mistakes done by the students in the previous examinations when writing the case laws and explained how to prepare for professional courses and also help the students for examination preparation.
He commenced his session after thanking Salem Chapter of ICSI and SACS – Salem for the initiative on the Monthly program & for inviting him to take up the session.
CS Boopalan delivered a special address about the topic and gave memorable ideas to students who are appearing for June 2010 Examination.
There was good interaction and the Students Queries duly answered by Chief Guest.
Mr. K. Jayanthar, Executive Programme of the Student of ICSI gave the vote of thanks.
The meet was concluded with National Anthem at 2.10 PM.
The Salem Chapter of ICSI and Members of SACS-SALEM have organized the Students meet on 04 April 2010 after the formation of the student Association, SACS-SALEM on 07 Mar 2010. Around 30 members have participated in the meet.
The meet started at 11. 30 AM with a prayer song by Mr. Arunachalam (PP), Secretary, SACS-Salem. The prayer song was followed by a thundering welcome address by Ms.V. Sanadhana (FP). She welcomed CS Solaiyappan, Chairman and Secretary of Salem Chapter of SIRC of ICSI and all the Students of the Salem Chapter of SIRC of the ICSI.
Mr. M. Harish, Student of ICSI read out the brief report of previous meet.
Mr. S. Ranjit Kumar, Executive Programme Student of ICSI, presented a seminar on Tax Laws – Salaries. It was an extraordinary seminar would have ever presented by a student of Executive Programme. He managed to explain every topic under Salaries in a systematic manner.
Salem Chapter Chairman CS Solaiyappan delivered a special address to the members and gave away his special applause to Mr. S. Ranjit Kumar.
The Quiz Competition was hosted by Mr. PL. Manickam, Professional Programme, Student of ICSI , 6 teams consists of 2 Students in a team (Executive Programme Students) Participated in the Quiz which had 4 rounds. Topic on GAT (General & Commercial Laws, Accounts, Tax Laws)
Round 1 - General and Commercial Law;
Round 2 - Corporate Accounts, Cost & Management Accounts;
Round 3 - Tax Law and
Round 4 - Current Affairs and Find out the Logos.
After four rounds of quizzing, Ms. Piyushi Jain and Mrs. Shalani winners in Quiz Competition. The Runners up were Mr. T.S. Jawahar, Mr. Visu & Mr. Ranjit Kumar, Mr. Dinesh & Mr. Ramesh, Mr. Prabahakaran. Mementoes were given away to Winners and Runners of team participants by Salem Chapter Chairman.
Ms. Kokila Rani, Foundation Programme, Student of ICSI presented a seminar on Negotiable Instruments. The seminar was useful to everyone in particular to FP students.
Mr. T.S. Jawahar (EP) gave away the vote of thanks.
The meet was concluded with National Anthem at 2.30 PM.
Students Association formed by Salem Chapter of SIRC of the ICSI for the benefit & welfare of the Student Members of Salem Chapter. It creates more chances to CS Students Community to exhibit their Talents, Innovative Ideas, & their Creativeness.
It is a great fortune to CS Student Members to disclose their:
1.) Behaviour Skills
2.) Leadership Skills
3.) Soft Skills
4.) Communication Skills
5.) Presentation Skills
6.) Interpersonal Skills
7.) Organising Skills
Organisational Structure:
It is headed & organised by a Team of Students pursuing their CS Foundation, Executive & Professional Programme.
SACS - Salem is divided into four Committees:
1.) Talent Committee
2.) Study Activities Committee
3.) Information Committee
4.) Awareness Committee
Regards
SACS - Salem
Team
The Salem Chapter of SIRC of the ICSI organized the Students’ Meet on 07th March 2010 at 10.30 AM at Chapter premises. To get consent from the Members of Salem Chapter of the SIRC of the ICSI for the formation of Students’ Association in Salem.
Chapter Chairman CS Solaiyappan, Secretary CS Santhanam and CS Boopalan were joined in the students meet. Nearly 32 Students were attended the Meet. Mr. Harish Kumar, Student of ICSI commenced with Prayer song and
Mr. Arunachalam, Student of ICSI welcomed the Chairman, Secretary and the chief guest CS Boopalan, JSW steels, Salem, the In-charge Mr. Vinoth Kumar and Students of ICSI and describes the History of the Salem Chapter of SIRC of the ICSI.
Salem Chapter Chairman CS Solaiyappan, Practicing Company Secretary gave the special address to the Students. After that Mr. Dinesh, Student of ICSI took Seminar on Residential Status & Salary on Income Tax, he explained well about residential status. Followed that Mr. PL. Manickam, Student of ICSI explained about Formation of Students Association and about the various Committees, which are useful to the entire Students. He detailed the proceedings of that committee in what way it will be useful. After his speech, Salem Chapter Chairman and Secretary declared by oral that it has been formally approved by Chapter. Open declaration has been given in the Meet.
At 11.30 AM, Mrs. D. Chitra, Student of ICSI presented Seminar on Issue of shares and explained well about issue of shares. Salem Chapter Secretary CS Santhanam, Senior Manager Finance of Salem Steel Plant (Steel Authority of India Ltd.) gave key note address and appreciated the Students who taken seminars.
At 12.15 PM Ms. N S Poornima took seminar on Underwriting of Shares. Followed that Our Chief Guest CS Boopalan delivered his key note address to the Students. After the key note address, the Office Bearers has been elected by Members of Salem Chapter, and their names are as follows :-
Mr. PL. Manickam, has been elected as Chairman of Students Association
Mr. M. Arunachalam, has been elected as Secretary of Students Association
Mr. N.Dinesh, has been elected as Treasurer of Students Association
The formal name has been approved as SACS-SALEM (STUDENTS ASSOCIATION OF COMPANY SECRETARIES-SALEM) by the Students of Salem Chapter. Many of the Students are joined in Organizing Committee of the Students Association for the future events.
At the end of the programme, we got suggestions from Students for further proceedings.
Finally, Mr. Srinivasan gave vote of thanks for the first Students Meet and concluded with National Anthem.
Meaning :
In simple words we can describe the word Due Diligence as the art or a state of mind, which we employ, while engaging in some Investigations or associated engagements.
The term was first introduced in Securities Act 1933, passed by the United States.
Consider the situation for better understanding:
In case when a Company goes for Public issue, it is customary to employ Brokers for issue of capital. Suppose the Public has subscribed the shares from the brokers thinking that the disclosure made by the brokers are accurate, in respect of the company.
In case it was found to be otherwise, the public can make responsible the brokers for providing wrong disclosures regarding the company. This is what, usually happens.
But, the climax changes if the Brokers would have employed Due Diligence. Here the term gains significance. Now in such a case the brokers cannot be held liable for any wrong disclosures made by them, because they would have enquired about the company in the manner prescribed under Due Diligence.
Now it becomes easy to explain the term.
Considering the above example, Due Diligence can be defined as a course of action or sequential process which is to be employed by a person for studying the relevant areas and their implications before contracting with the entity or engaging in some activities.
CBEC has issued Notification No. 04/2010-Central Excise (N.T.) and Notification No. 01/2010-Service Tax, both dated 19th Feb, 2010, making e-filing of Central Excise Returns (ER-1 and ER-3) and Service Tax Return (ST-3) mandatory for assesses with effect from 1st April, 2010.
Notification No 04/2010-CE (N.T.) dated 19.02.2010 makes it mandatory for assesses who have paid total duty of rupees ten lakhs or more including the amount of duty paid by utilization of CENVAT credit in the preceding financial year to file the monthly or quarterly return, electronically under sub-rule (1) of Rule 12 of the Central Excise Rules, 2002 and deposit the duty electronically through internet banking under sub-rule (1) of Rule 8 of the Central Excise Rules, 2002.
Similarly, Notification No. 01/2010-ST dated 19.02.2010 makes it mandatory for assesses who have paid total Service Tax of rupees ten lakhs or more including the amount of tax paid by utilization of CENVAT credit in the preceding financial year to file the half-yearly return (ST-3), electronically under sub-rule (2) of Rule 7 of the Service Tax Rules, 1994 and deposit the service Tax liable to be paid, electronically, through internet banking under sub-rule (2) of Rule 6 of the Service Tax Rules, 1994.
Source: http://www.aces.gov.in/
SACS - Salem Helpline Numbers :~
Subscribe in our SMS Group : http://labs.google.co.in/smschannels/subscribe/sacs-salem
Regards
SACS - Salem
Team
This is to inform you that from April onwards sacs-salem conducts meetings at first sunday of the every month at the chapter office.
For More Details :
mail us at : sacs.salem@gmail.com
