Winning Edge Institute of Commerce

Admission open for session 2021-22 from March 22
*Limited seats
*Digital Class Room
*5 Days a week class
*Regular Test
* Recorded lecture back up
* Fees in easy Instalments
*Teaching since last 24 Years

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SCOPE FOR COMMERCE STUDENT :

*CHARTERED ACCOUNTANCY (CA):
The study route for a student who is interested in pursuing a career in Chartered Accountancy essentially involves 3 main stages – enrolling & appearing for the Common Proficiency Test (CPT), appearing for and clearing the Integrated Professional Competence Course (IPCC), and lastly clearing the CA Final examination.

*MANAGEMENT STUDIES:
In this course you learn how to manage a business professionally and can opt for a degree or diploma in management. Students who are keen to take up management as a career option after class 12th can opt for BBA (Bachelors in Business Administration), BBS (Bachelors in Business Studies) or BBM (Bachelors of Business Management). These courses are typically of 3 years duration where students are shaped to meet the industry standards in the field they wish to specialize in.After graduation, you may opt for an MBA degree in a specialized field.

*COMPANY SECRETARY (CS):
Company Secretary (CS) is another interesting career option that will require you to deal with aspects of management which relate to the company as a legal entity. Interested sudents can apply for the 3 -year company secretary course after passing (10+2) examination.

*Chartered Financial Analyst (CFA):
The chief responsibility of a chartered financial analyst is to manage in the areas of financial accounting, management accounting, financial management, Investment management, security evaluation, project planning, venture capital management and credit rating. This is 3-year course that can be pursued after graduation.

* The Institute of Cost and Works Accountants of India (ICWAI):
ICWA as a course is conducted in 3 different stages. ICWA involves – Foundation, Intermediate and Final course. You can apply for the foundation course after completing your 12th class in any subject area. Final year 12th class students can also apply for the ICWA course. In case of graduates they can apply for the Intermediate course. The application for the Intermediate course can be done directly without applying for the foundation course. The final course of ICWA can be done after getting through the Intermediate level.

In addition, a student from the Commerce stream always has the option to pursue careers in any of the non-science fields such as designing, hospitality & tourism, mass media & journalism, law, advertising, civil services etc. So, you see – the world is your oyster and it is waiting to be discovered!

https://charteredwisdom.blogspot.in/2017/02/why-choosing-commerce-as-career-is.html?m=1

Why choosing COMMERCE as a Career is better option than Science and Arts? CLICK here to know the benefits of COMMERCE as a Career.

Income tax reforma
1-Turnover of companies upto 50 crore - tax will be 25% instead of 30%

2-MAT credit carry forward for 15 instead of 10 years

3-Long term capital gains on Property period reduced from 3 to 2 years

4- Base Year for indexation now 2001 instead of 1981

5- Presumptive tax for small traders with turnover upto 2 crore under 44Ad now 6% instead of 8 % for full non cash turnover

6- Cash expenditure now allowed only 10000 instead of 20000 per transaction

7- No transaction above 3 lac will be allowed in cash

8- Trust cash donations max allowed only 2000 instead of 10000

9- Political parties - max cash donations from 1 person Rs 2000.

10- Domestic transfer pricing - only if 1 party enjoys tax benefits

11- 44AD - turnover limit increased to 2 crores for business.

12- Professionals can pay advance tax in 1 installments if below 50 lac

13-Time for revising income tax return now reduced.

14- Scrutiny time limit reduced to 18 months

15- Individual tax reduced for income 2.5 to 5 lac tax rate now reduced to 5%

16- Surcharge of 10% on those who earn income from 50 lac to 1 crore

17- TDS - no Tds on insurance agents if 15 h filed

18- Simple 1 page income tax return for persons having non business income .

19- Deemed sale value for sale of unquoted shares introduced. To be taxed at fair value. Sec 50CA

20- In absence of PAN,the rate of TCS will be twice of the extent rate or 5%, whichever is higher. Sec.206CC.

21- If Return not filed as per Sec. 139 (1), concept of late fee introduced. Rs. 5000 for delay up to 31st Dec. and Rs. 10000 thereafter. Late fee to be paid before filing the Return. Sec 234F

22- CA issuing wrong certificate would be penalised with Rs. 10000

23- Capital gain on shares will be exempt only if STT was paid while purchasing the shares.

24- HP loss can be setoff against other head of income only to the extent of 200000 in same year. Balance loss can be c/f to 8 A.Ys.

25- Indl and HUF to deduct tds even if unaudited @ 5% if rent is paid 50000

26- Tds in 194J amended, now 2 percent tds instead of 10

27- The scope of section 56 will be widened and will also cover any kind of gifts in cash or kind or for no consideration with few exemptions and exception

28- Disallowance of expenditure from income from other sources if tds is not deducted

29- Self employed can also claim 20% contribution to NPS as deduction.