SCHOLARSHIP FOR CS/CA STUDENTS

SCHOLARSHIP FOR HIGHER EDUCATION -2013

CONDUCTED BY

INSTITUTE FOR CORPORATE ACHIEVERS

IN COLLABORATION WITH

DEVANSH FOUNDATION

ABOUT ICA

ICA is a professionally managed organization aimed at providing guidance, assistance and Direction to the youth of India.

ICA wishes to Strengthen nourish and assist the budding professionals for a bright and enterprising feature and to meet the global challenges.

About The Scholarship Test-2013

The Scholarship Test Conducted by ICA in collaboration with Devansh Foundation it is an analytical concept based test that will assist the Budding Professionals to overcome Financial Constraints in the attainment of their Goal. This Test will bring together the best brains and aid us in providing them the right direction and guidance for a promising future.

The test is measures how effectively a student has understood the commercial concepts & capable in implementing them.

Objective Of The Test

·         To provide financial assistance to the Students of CA/CS.

·         To identify and the Students pursuing courses who are unable to attain their goal due to  

           various constraints.

·         To help students by professional guidance and Counseling for determining and following the right Career path.

Eligibility

Students registered with ICSI/ICAI

Date Of Test

27^th Feb. ,2013

Venue Of Test

ICA,3^rd Floor,Chitrahar Building,Nawal kishore Road ,Hazratganj ,Lucknow-226001

Timing Of Test

11:30 am to 12:15 pm

Test Pattern

No. of questions – 50

Total Marks – 50

Time – 45 Minutes

S.No.	Level of Test	Syllabus	Test Structure
1.	For students appearing in CPT/CS Foundation Foundation	12th level	25 Marks-Mathematics 15 Marks-Economics 10 Marks-Commerce & General Awareness
2.	For students appearing in IPCC/CS Executive	CPT/CS Foundation	25 Marks-Financial Accounting 15 Marks-Business Law 10 Marks-Stats & General Awareness
3.	For students appearing in CA Final/CS Professional	IPCC/CS Executive	25 Marks-Advance Accounting and Tax 15 Marks-Business Law and Company Law 10 Marks- General Awareness

Medium of Examination : English

Awards & Scholarships

1) For students appearing in CPT/CS Foundation

i)One Ist Prize worth Rs.5000

ii)Two 2nd Prizes  worth Rs.3000 each

iii)Four 3rd Prizes  worth Rs.2000 each

2) For students appearing in IPC/CS Executive

i)One Ist Prize worth Rs.9000

ii)Two 2nd Prizes worth Rs.3000 each

iii)Four 3rd Prizes worth Rs.2000  each

3) For students appearing in CA Final/CS Professional

i)One Ist Prize worth Rs.12000

ii)Two 2nd Prizes worth Rs.4000 each

iii)Four 3rd Prizes worth Rs.2000  each

4) 100 consolation Prizes worth Rs.500 each

Registration Forms and Result

Forms are available at

·                          ICA,3^rd Floor, Chitrahar Building, Nawal kishore Road ,Hazratganj ,Lucknow-226001, C-401

·                  CONTACT DETAILS:- 0522-4011081, 09554279814, 8957962970, 9935778867

·                           www.devanshfoundation.org

·                           instituteforcorporateachievers.blogspot.in

·                      C-401, Devansh Foundation, Indra Nagar Lucknow

Submit duly filled forms latest by 26^th Feburary,2013 along with 2 photographs and fees of Rs.100/- at ICA,3^rdFloor, Chitrahar Building, Nawal kishore Road ,Hazratganj ,Lucknow-226001, C-401, Indira Nagar, Lucknow.

Result will be declared/distributed on or before 2^nd March’13 i.e the felicitation function of the Institute.

·                   ICA notice board

·                  www.devanshfoundation.org

·                  instituteforcorporateachievers.blogspot.in

·                  https://www.facebook.com/ica.lucknow?fref=ts

Rules and Regulations

1. Examination centre, timing and date will not be changed in any circumstances

2. Calculators, notes, books, mobiles are not allowed in test.

3. Students already enrolled with ICA are not eligible to participate in the test.

4. ICA reserves the right to withdraw the scheme any time or make any amendments thereof.

5. Students are required to compulsorily carry their admit cards in the test.
6. The Scholarship amount would be utilized for the development of  the student.

7. ICA reserves the right to increase or decrease the number of scholarships; Decision of ICA will be final. 

"ONLINE REGISTRATION IS AVAILABLE THROUGH OUR WEB SITE www.devanshfoundation.org"
STUDENT RESISTED THROUGH ONLINE PROCESS HAVE TO REPORT ONE HOUR BEFORE THE EXAMINATION

NEW SYLLABUS OF CS EXECUTIVE WOULD BE APPLICABLE FROM 1ST FEB, 2013

INTRODUCTION OF NEW SYLLABUS AND REVISION IN REGISTRATION FEE AND OTHER FEES PAYABLE BY THE STUDENTS W.E.F. 1ST FEBRUARY, 2013 EFFECTIVE DATE OF IMPLEMENTATION

New Syllabus of Executive Programme is being implemented with effect from 1st February, 2013 and the New Syllabus of Professional Programme is being implemented with effect from 1st September, 2013.

SUBJECTS/ PAPERS COVERED UNDER NEW SYLLABUS

EXECUTIVE PROGRAMME

MODULE 1
1. Company Law
2. Cost and Management Accounting
3. Economic and Commercial Laws
4. Tax Laws and Practice

MODULE 2
5. Company Accounts and Auditing Practices
6. Capital Markets and Securities Laws
7. Industrial, Labour and General Laws

PROFESSIONAL PROGRAMME

MODULE 1
1. Advanced Company Law and Practice
2. Secretarial Audit, Compliance Management and Due Diligence
3. Corporate Restructuring, Valuation and Insolvency

MODULE 2
4. Information Technology and Systems Audit
5. Financial, Treasury and Forex Management
6. Ethics, Governance and Sustainability

MODULE 3
7. Advanced Tax Laws and Practice
8. Drafting, Appearances and Pleadings
9. Electives – Any One out of below Five Subjects
9.1. Banking Law and Practice
9.2. Capital, Commodity and Money Market
9.3. Insurance Law and Practice
9.4. Intellectual Property Rights - Law and Practice
9.5. International Business-Laws and Practices

http://www.icsi.edu/WebModules/Student/ANNOUNCEMENT%20ON%20NEW%20SYLLABUS%20&%20REVISION%20OF%20FEES%20WEF%2001022013.pdf

INTEREST RATES ON AND PREMATURE WITHDRAWAL OF RUPEE TERM DEPOSITS

CIRCULAR DBOD. NO. DIR. BC. 74 /13.03.00/2012-13, DATED 24-1-2013

In terms of our mailbox clarification dated May 16, 2007, deposits of Rs. 15 lakh or any higher threshold approved by the Boards of banks have been termed "wholesale deposits". The term "bulk deposit", though not specifically defined, has been inter-changeably used with wholesale deposits and has occasionally been used in the context of ALM guidelines ['Appendix-1' to circular DBOD. BP. BC.14054/21.06.001/2009-10, dated February 11, 2010 on 'Guidelines on the standardized approach for calculating operational risk capital charge', and 'Annex 1' to Master Circular DBOD.No.BP.BC.16/21.06.001/2012-13, dated July 2, 2012 on 'Prudential guidelines on capital adequacy and market discipline – New Capital Adequacy Framework (NCAF)' (para 2.3.5)]. The position has been reviewed and it has now been decided that henceforth only the expression "bulk deposit" would be used for single Rupee term deposits of Rs. 1 crore and above.

2. In this context, please refer to our circular DBOD.No.Dir.BC.36/13.03.00/98, dated April 29, 1998 permitting banks to offer, at their discretion, differential rates of interest on single term deposits of same maturity of Rs. 15 lakh and above, subject to certain conditions. It has been decided that henceforth, the permission to offer differential rates of interest for the deposits of the same maturity will be applicable to bulk deposits of Rs. 1 crore and above. For deposits below Rs. 1 crore, the same rate will apply for deposits of the same maturity. Rupee term deposits will include domestic term deposits as well as term deposits under NRO and NRE accounts. Banks should disclose in advance the schedule of interest rates payable on deposits including deposits on which differential interest will be paid. Interest paid by banks should be as per the schedule and not be subject to negotiation between the depositor and the bank.

3. A reference is also invited to para 9 of our Directive DBOD. No. Dir. BC. 7/13.03.00/2001-02, dated August 11, 2001, in terms of which a bank, on request from the depositor, shall allow withdrawal of a term deposit before completion of the period of the deposit agreed upon at the time of making the deposit. However, the bank, at its discretion, may disallow premature withdrawal of large deposits held by entities other than individuals and Hindu Undivided Families (HUFs). These instructions have been reviewed and it has now been decided that banks will have the discretion to disallow premature withdrawal of a term deposit in respect of bulk deposits of Rs. 1 crore and above of all depositors, including deposits of individuals and HUFs. Bank should, however, notify such depositors of its policy of disallowing premature withdrawal in advance, i.e., at the time of accepting such deposits. A bank on request from a depositor shall allow withdrawal of a Rupee term deposits of less than Rs. 1 crore, before completion of the period of the deposit agreed upon at the time of making the deposit. Bank will have the freedom to determine its own penal interest rates for premature withdrawal of term deposits. Bank should ensure that the depositors are made aware of the applicable penal rates along with the deposit rates.

4. The revised guidelines will be applicable with effect from April 1, 2013.

5. An amending Directive DBOD. No. Dir. BC.73/13.03.00/2012-13, dated January 24, 2013 is enclosed*.

*See Annexure.

ANNEXURE

INTEREST RATES ON AND PREMATURE WITHDRAWAL OF RUPEE TERM DEPOSITS

DIRECTIVE DBOD. NO. DIR. BC.73/13.03.00/2012-13, DATED 24-1-2013

In exercise of the powers conferred by sections 21 and 35A of the Banking Regulation Act, 1949 and in modification of its Directive DBOD. No. Dir. BC. 07/13.03.00/2001-02, dated August 11, 2001, as amended from time to time, the Reserve Bank of India, being satisfied that it is necessary and expedient in the public interest so to do, hereby directs that

(I) Paragraph 9 (i) of the aforesaid Directive shall be substituted by the following:

"9. Premature withdrawal of term deposit

 (i)  A bank, on request from a depositor, shall allow withdrawal of a term deposit before completion of the period of the deposit agreed upon at the time of making deposit. The bank shall have the freedom to determine its own penal interest rate of premature withdrawal of term deposits. The bank shall ensure that the depositors are made aware of the applicable penal rate along with the deposit rate. However, the bank at its discretion, may disallow premature withdrawal of large Rupee term deposits of Rs. 1 crore and above. The bank should, however, notify such depositors of its policy of disallowing premature withdrawal in advance, i.e., at the time of accepting such deposits."

(II) Paragraph 22 (c) of the aforesaid Directive shall be substituted by the following:

"(c) discriminate in the matter of interest paid on deposits, between one deposit and another, accepted on the same date and for the same maturity, whether such deposits are accepted at the same office or at different offices of the bank, except in respect of fixed deposit schemes specifically for resident Indian senior citizens offering higher and fixed rates of interest as compared to normal deposits of any size and single term deposits of Rs. 1 crore and above on which varying rates of interest may be permitted on the basis of size of deposits. The permission to offer varying rates of interest will be subject to the following conditions:

 (i)  The permission to offer varying rates of interest for deposits of the same maturity shall apply to single Rupee term deposits of Rs. 1 crore and above. Banks may therefore offer same rate of interest or differential rates of interest for deposits of Rs. 1 crore and above of the same maturity. For deposits below Rs. 1 crore of the same maturity, the same rate will apply. Rupee term deposits shall include domestic term deposits as well as term deposits under NRO and NRE accounts.

(ii)  Banks should disclose in advance the schedule of interest rates payable on deposits including deposits on which differential interest will be paid. Interest rates paid by the bank should be as per the schedule and should not be subject to negotiation between the depositor and the bank."

2. The above changes shall be applicable with effect from April 1, 2013.

3. The other provisions of Directives DBOD. No. Dir. BC.07/13.03.00/2001-02, dated August 11, 2001 as amended from time to time, shall remain unchanged.

10 Things- Company Incorporation

10 Things You Should Know while Incorporating Your Company

1.   Can same person be a Director as well as Shareholder of the Company?

Shareholders and directors have two completely different roles in a company. The shareholders (also called members) own the company and the directors take day to day managerial decisions including tactical and strategically decision making. However, a single person can play both the roles and can act as a shareholder as well as a director of the Company. A person invested (having shares) in the company and also having proficiency on the responsibility of managing or supervising the corporation then the person can individually play both the roles.

2.   Can I use my home address as the address of Registered Office of My Company?

All Indian registered companies are required by law to have a registered office address in India. It is the address of a company to which all official letters and reminders will be sent. The registered company address must be in a state in which company is registered.

Therefore, a home address can also be used as the Registered Office address of the Company. It is not compulsorily required that an address where the company is actually situated can only be used as address of the registered office of that company.

3.   Can a Registered Office and an Administrative Office situated at a different place?

Registered Office is the location (or merely the address) where the company has registered as a corporation. All official letters and reminders will be sent at this address only. On the other hand, an administrative office is the office where the actual operations are conducted. It is for the convenience of business activities and infrastructure from where all commercial activities of a company are undertaken. So, either both can lie at the same address or can be situated at a different places too. There are no restrictions for the same.

4.  Do I need to contribute my Capital immediately into the bank before Incorporating A Company?

To open a Company’s Bank Account, it is necessary to have the company PAN Card. Further, PAN can only be applied for only when the company is incorporated. Thus, capital amount is a pre-requisite of the company as it needs to be acknowledged in the subscriber’s sheet, which is required at the time of incorporation. Hence, deposit into the Bank is not possible, and therefore the initial capital infusion may be in cash.

5.   Can a Shareholding Ratio be in 99:1 proportion?

The ideal shareholding pattern of the company is 50:50, for a two shareholder company. But in case you intend to hold the majority stake of the company you can make the proportion to 60:40, 70:30 etc. In case if the other shareholder focuses on having a substantial interest in the company then the proportion would, in all general circumstances  be 80:20. Alternatively, to have complete stake of the company restricted to self, then the proportion has to be 99:1, since there has to be at least two shareholders of the Pvt. Ltd Company.

6.  I am already employed. Can I still be a Director of the other Company?

It depends on the terms and conditions of the offer letter which you will receive as an employee of the Company. If you are not bound to any restrictions or if there is no clause in your offer letter which prohibits you to take part in some other company (directly or indirectly), then you can be a Director of other company.

7.   I am already a Director of the Pvt. Ltd. Co and therefore have a DIN. Do I need to have another DIN to become a Director of another Co.?

A DIN allotted to any person is valid for the lifetime of the individual like PAN Number and shall not be allotted to any other person during his lifetime. Since you are the director of the Pvt. Ltd. Co. and already having DIN, then you are not required to have another DIN, as the same can be used to become the director of other Companies or designated partners of other LLPs.

8.   Can I have two Companies at the same Registered Office?

For startup companies, it is very common to share common workspace to deliver services, thereby sharing the rent of the premises and minimizing outflows in the initial years. In that case, the companies, while getting incorporated under MCA, can use the same registered address proof. On an alternate scenario, an IT professional having two different private limited companies can use his common residential address to fit the purpose.

9. Difference between Authorised and Paid Up Capital of the Company.

Authorised Capital is that amount of capital with which a company is registered with the registrar of companies (body responsible for registration of companies). It is the maximum amount of capital which a company can raise through shares i.e. share capital can be maximum up to the authorized capital and not beyond. Authorized capital is also called registered capital or Nominal capital.

On the other hand, the Paid up Capital is that amount of capital (out of called-up capital) against which the company has received the payments from the shareholders so far. In other words, Paid up capital means that capital for which investors have actually paid money.

10.  What is Face Value per Share?

Face value is the nominal, or stated, amount of security. The face value of a bond is the amount the issuer agrees to pay upon maturity. Face value is also the amount upon which interest payments or discount is determined.

Source: Taxmantra