There are numerous spiritual benefits of fasting. Fasting is extremely efficient for the acquisition of taqwaa (piety), without which a Muslim cannot gain closeness to Allah. The prime benefit in the pursuit of taqwaa is the suppression of the erratic desires and demands of nafs (based carnal desire), which is always working in collusion with Shaytaan, to spiritually and morally ruin the believer. If the nafs is allowed freedom, then it will succeed in making man a slave of lust, passion and base emotions, due to which his Imaan will suffer. Therefore, it is essential that the nafs be restrained. Fasting greatly aids towards pursuing this objective. By fasting, a Muslim learns to suppress his lowly desires. Thus the ability of inculcating taqwaa is created. Further, fasting purifies the soul, and creates gratification in worship, making the heart conducive for worship. The bond with Allah is also strengthened. Once our beloved Prophet sallallahu alayhi wasallam supplicated, "O Lord of the universe! When does the servant become closest to you?" The Divine Reply came, "When the servant is hungry and when he is in sajdah (prostration)."
Another outstanding feature of fasting is that it lifts man above the level of beasts and animals - who eat, drink and copulate at will, whenever the urge comes - and takes him to the parallel of the angels. Since the latter do not eat or drink, they are devoid and free of evil inclinations and all things base. Man, by reducing his worldly relations and emotional desires, moves himself to the realms of the angels.
As well as the many spiritual benefits of fasting, there are physical
Regarding Ramadan questions and answers please check:
http://www.islam-qa.com/en/cat/295
Regarding Ramadan days and prayer timings please check:
http://www.dnzh.com/webservices/RamadanCalendar.aspx
Regarding articles about virtues and importance of Ramadan please check:
http://www.islamawareness.net/Ramadhan/
Wish you a wonderful Ramadan that is full of good deeds and closeness to Almighty Allah.