Be a Part of the IT Boom

The IT fever has spread like fire! Information Technology has become a boom and has revolutionized the entire way of doing things. Dependency on technology has never been like this before. The positive effects of technology have reached to even the remote corners of the world. Individuals today have become tech-savvy and are implementing IT across numerous work processes. With a remarkable growth over the recent past, the promising IT sector offers several opportunities for professional growth and practice. Hence, several young and aspiring individuals are getting drawn to the glitz of IT industry.

Understanding the increasing need for technology and lack of competent workforce in the field, ICA Infotech offers array of IT enabled study programs to equip young minds with requisite skills and knowledge for being a part of the highly developed technology sector. ICA Infotech offers holistic training and focuses strives to bridge the gap between the demand for skilled professionals in the industry and the availability of the same. To accomplish its purpose of imparting quality education and technology enabled training, ICA Infotech adopts practice-based study techniques. The enriching training procedures emphasize on skillful learning. It offers a plethora of study programs that offer comprehensive learning in the promising fields of today.

ICA Infotech offers holistic education and training through an enriching series of courses that include B.Com. (Computerized Accounting / Banking & Finance),  PGDCA (Business Application), BBA (Finance & Marketing), MCA (Software Engineering & Networking) and PGDBM (Taxation & Finance). Adding to the quality of learning, the study programs at ICA are accredited and recognized by the renowned Lovely Professional University. Moreover, the curriculum is regularly updated and regulated on the basis of industry fluctuations and advancements. This helps in keeping pace with the ever-evolving demands of the profession.

ICA infotech believes in generating sufficient opportunities for the skilled and qualified. In association with India’s topmost staffing company, ICA assures 100% job placements to all its students. Thus the institute endeavors to provide the best platform for building thriving careers in the flourishing professions of today. ICA infotech is an ISO certified institute that is testimony to the excellent quality of education it imparts to students and aspiring individuals. The institute not only generates immense opportunities for employment but also guides ambitious students with enriching knowledge and requisite skills for the global competition ahead.

Compulsory E-filing for Income above `10 lakhs

CBDT has issued Notification S.O. 626(E), dated 28th March 2012 vide which e-Filing has been made compulsory for Assessment Year 2012-13 onwards for:

• An individual or a Hindu undivided family, if his or its total income, or the total income in respect of which he is or it is assessable under the Act during the previous year, exceeds ten lakh rupees; and

• An individual or a Hindu Undivided Family (HUF), being a resident, having assets (including financial interest in any entity) located outside India or signing authority in any account located outside India and required to furnish the return in Form ITR-2 or ITR-3 or ITR-4.
• However, digital signature will not be mandatory for these taxpayers and they can also transmit the data in the return electronically and thereafter submit the verification of the return in Form ITR-V.

• Filing of returns electronically under digital signatures is already mandatory for any company required to furnish the return in Form ITR-6 or a firm required to furnish the return in Form ITR-5 or an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable.

• The Income Tax Department has received a record number of 1.64 crore income tax returns electronically in the year 2011-12. E-filing is an easy, fast and secure method of filing of income tax return. The electronically filed returns are processed at the Centralized Processing Centre, Bengaluru. The processing for e-filed return is faster and taxpayers get their refunds, if due, quickly. The Department also provides some value added services like tracking of refunds, viewing tax credit status (Form 26AS), e-mail and SMS alerts regarding status of processing and refunds to taxpayers who e-file their returns.

Goods and Service Tax (GST) - a Paradigm shift in Indirect Tax

The Goods and Services Tax (GST) is one of the most revolutionary indirect tax reforms that is being planned in India.GST is a comprehensive value added tax on the supply of goods and services. Introduced by France in 1954, it is now prevalent in over 150 countries. It’s been on the cards for some time now with constant deferrals over the past few years. However, finally the central government seems to be inching closer to an amicable agreement with the states to implement GST soon. While the date of implementation of GST is set on August 2012 GST might not be implemented before 1 April 2013.

Dual GST for India
Many countries in the world have a single unified GST system i.e. a single tax applicable throughout the country. However, in some countries like Brazil and Canada, a dual GST exists. In India, dual GST is proposed consisting of Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST) to be levied on the taxable value of every transaction of supply of goods and services.

Impact on the prices of goods and services
Since GST is expected to foster increased efficiencies in the economic system, it is expected to reduce the incidence of multiple indirect taxes in force, thereby reducing the overall price of goods. For services, the prices of services may increase in near term due to increase in tax from current 12% (Service Tax) to overall 14 – 16% under GST. However, in the medium to long term, the prices of both goods and services are expected to reduce since the sellers will pass on the benefits of increased efficiencies to customers by reducing prices. All goods and services, barring a few exceptions, will be brought under GST.

Benefits of Dual GST
The dual GST is expected to be a simple and transparent system with only one or two CGST and SGST rates leading to:
• Reduction in the number of taxes at central and state level – like Central Sales Tax (CST), Octroi, State-level sales tax, entry tax, stamp duty, telecom licence fees, turnover tax, tax on consumption or sale of electricity, taxes on transportation of goods and services among others. It must be noted that Imports have so far been kept outside the GST regime, thus import duties will continue to be charged.
• Decrease in effective tax rates for many goods
• Removal of current cascading effect on taxes
• Reduction in transaction cost by avoiding multiple layers of taxes and their administrative compliances
• Increased tax collection through wider base and better compliance

Response from States
Some states like Madhya Pradesh, Chhattisgarh and Tamil Nadu have mentioned that administrative infrastructure is not ready yet while others fear that since the tax rates may be lower than their existing (state) rates, this may lower their tax kitty. However, the central government have assured protecting their revenues and it is widely believed that better compliance will actually increase tax collection by the states.

Preparation by the industry
Experience of VAT implementation suggests that there may not be enough lead-time available for the industry to prepare for the implementation of GST. Consequently, the industry has started preparing for GST. The Institute of Computer Accountants (ICA) the leading training institute in India specialising in Accounts and Tax Training has already introduced GST in its Certified Industrial Accountant (CIA) curriculum to prepare the upcoming accounts and tax professionals on GST. The institute is also holding seminars for professionals to spread awareness on GST.

Process and Rates of GST
Since GST is expected to replace other taxes, it is not an additional tax burden as is feared by many. In line with most countries, the rate is expected to be between 14% and 16%.

GST is collected on the value added at each stage in the supply chain. It will be taxed on “supply” of goods and services and the concept of manufacture, sale, rendition as applicable in current regime will be irrelevant.
GST paid on procurement of goods and services is available for set off against GST payable on supply of goods and services through a tax credit mechanism. Being consumption based tax; the idea is that the final consumer will bear the GST charged to him by the last person in the supply chain.

There is expected to be separate enactments for central and state GST with each state managing its own enactment to levy and collect SGST.

Become an expert in IT…Study at ICA Infotech

ICA Infotech is India’s leading institute in providing skill-based education to aspiring students. The curriculum focuses on enriching students with relevant training and learning requisite to become competent IT professionals of today.

Understanding the growth, development and expansion of the IT industry, ICA Infotech offers wholesome learning for young aspirants. The focus here is to nurture the professionally competent individuals for the global competition in the outside world. To accomplish this purpose, the institute offers an array of study programs in various IT related fields. ICA Infotech endeavors to nurture exceptional IT talent through relevant training and education. The institute is well-known for offering comprehensive education in the promising sectors of Accounts and Finance besides imparting holistic training in other relevant fields. The coveted ISO certification adds further value to the highly acknowledged quality of education imparted at ICA Infotech.

The administration at the institute is determined to foster skill-based education to help students leapfrog the global competition. To keep abreast with the latest developments of the industry, the course is regularly updated and administered by a team of an expert faculty. ICA Infotech aims at creating plenty of job opportunities across various sectors for ambitious individuals. Thus the institute endeavors to provide industry specific education through enriching study programs that provide requisite training in the relevant fields. It provides 100%job placements to students. Courses offered by the institute include, enriching study programs in Accounts, Finance, Hardware, Networking, Share Market and many courses that are relevant to the current market needs. Thus, the institute assures promising opportunities for the skilled and competent. The institute missions to impart IT enabled training to career oriented students across the world. The courses providing quality par excellence focus on imparting skill-based and technology-based education to nurture competent professionals of tomorrow.

ICA Infotech- Making Dreams Real

Going back a few years, the hard working and ambitious at that time preferred academic-based professions like engineering, medicine etc. However, with growth in technology and newer scientific inventions, a paradigm shift in the choice of profession was witnessed all over the world. Today however, more technical and skill-based professions are also given immense consideration by the aspiring youth.

IT is one of the fastest growing sectors in the world. This industry has witnessed unprecedented growth and contributes immensely to the overall revenues of the country. The IT field is indeed an established one and offers excellent growth in future. IT based professions and careers are being recognized all the over the globe and thus offer outstanding growth for the aspiring and young individuals. This flourishing profession has indeed over shadowed other traditional professions in terms of commercial growth and revenues. Along with the evident growth and development of the industry, the number of opportunities for the skilled and competent also keeps mounting with every passing year. There is constant and immense need for well trained, qualified and skilled professionals in the IT field.

ICA Infotech intends to bridge the gap by nurturing exceptional IT talent through Industry specific and enriching study programs. The Institute is a leader in providing comprehensive education in the promising sectors of Accounts and Finance besides imparting holistic training in other relevant fields. The institute strives to graduate professional and skilled young talent capable of contributing to the growth of the IT sector. ICA Infotech offers a varied range of study programs for the skill-based careers that include Accounts, Finance, IT and Marketing. The academic curriculum is regularly updated and administered to keep pace with the ever-growing industry demands.

Moreover, the qualified, efficient and competent staff at ICA Infotech leaves no stone unturned in delivering quality par excellence. The experienced teaching faculty shares their knowledge and guides students of the institute in their struggle for accomplishing their set goals in future. The institute believes in providing value added training through a practical teaching methodology.

In addition to the excellent quality learning, ICA Infotech also endeavors to generate immense employment opportunities for the diligent and thereby provide the industry with competent human resource. The placement assistance offered at institute is outstanding, prompt and very efficient.

Confidence can change one’s world

Self reliability is something that one should have in him to become a good decision maker which helps throughout his professional life.

Confidence – a word that itself carries the feeling of strong positive impression. It is important for everyone to have a level of confidence in order to be a good presenter. Did you ever think why we follow our role models? The answer is simple it is because of their positive aura, success story, motivational ability and self confidence. Those who are confident are good decision maker and tend to achieve faster and better in their professional life. In this present era, it is important to be a self confident person to succeed in life.

ICA Infotech focuses on making student extrovert and confident. It increases their ability of working in terms of both quantity and quality. The college understands its importance and hence teachers of the college also aim at making students more confident and outgoing. It does not only help through the student life but a confident person succeeds throughout his professional one. At ICA, various confidence boosting sessions are conducted like seminars, group discussions, training, etc. These all sessions miraculously work on students and within a short span one can see change in them.

ICA Infotech works in each direction over students to make them prepared for the job market. The college also spotlights on providing top notch education in the field of accounting and taxation. With its different style of teaching the ICA is bringing some of the finest accounting professionals in the market. It is only possible because of the faculty. The college recruits some of the best professors who enlighten the path of success for students. Their expertise is always used by students throughout their professional life as well.

It is important for every student to have a good placement from the college in order to grow in the future. Thus the placement cell of the college becomes active during final placement sessions. Their hard work is visible in this way that the college guarantees jobs to every student. It also makes the college stand ahead of the troop.

Framing accounting professionals

It is always good to have options in life. Those who get more options are comparatively happier in life than others. Same is the case with educations there are numerable career options and plentiful of colleges available in the market. Students are now getting good options of professions from where they can choose the best one out. The career options like MBA, MBBS, Law, Hospitality Engineering, etc are some of the most common ones. Out of various profession choices accounting and taxation is one of the most promising sectors of the county. It has the potential to come among the top list of the highest revenue generator domains of the country. Accounting and taxation is said to be the only filed which had never experienced recession.

In addition with the mounting business sectors of the nation, the demand for highly skilled accounting professionals will also increase. Thus a career in this industry is surely beneficial. To get into this domain one should have a specialized degree and it is always preferable to have a degree from a reputed institute. ICA is one of the best accounting institutes of the country. The core focus of the college is to provide highly skilled professionals in the field of accounting. It follows one of the most innovative methods of teaching that is ‘experiential learning’. It helps to make education simple and interesting for students. They tend to get a new outlook of the theories and learn through experiencing on their own.

It order to practice this concept of teaching some of the finest professors of the country are appointed. They are the leaders of the market, their expertise help students to get insight of the domain. It helps students to analyze their own abilities so that they can bridge the gap between skills they have and skills required. Self-evaluation is the best way to stay focused and achieve targets. This is why students of ICA are highly skilled and aimed in life.

ICA Infotech strives hard to churn out the market and extract the finest job opportunities for students. It is a great help for them as they get an option to save time of finding a suitable job and also gives a kick start to students’ career. The biggest strength of ICA it guarantees the jobs to every student. By providing world class education and finest jobs to students ICA is striving towards being the best accounting institutes of the country.