ACS December 2008 Examination.

Direct Taxes
All students may note that for the December, 2008 Examination Session, in respect of Direct Taxes, the applicable Assessment Year shall be 2008-09 (Previous Year 2007-08).

Thus, they will have to study Finance Act, 2007 for December, 2008 Examination. Further, as per the syllabus, students are required to update themselves a bo ut all the Circulars, Clarifications, Notifications issued by CBDT & Central Government, which come into effect on or before 6 months prior to the date of the respective Examination.

Gift Tax Act has been excluded from the scope of examination from December 1999 session onwards unless otherwise informed
Indirect Taxes
Students appearing in the Tax (Indirect Tax Portion to the extent of topics covered in the syllabus) and Direct and Indirect and (Indirect tax portion) paper of the Intermediate and Final Courses respectively may take note of the following changes applicable for December 2008 Examination :

1. All changes made by the Finance Act, 2008

2. All Circulars, Clarifications/Notifications issued by CBE&C/Central Government which became effective six months prior to the date of examination