Most Relevant [amendments] for CA Final (IPCC) Nov 2015 Exams

5 Aug amendments-for-CA Final-IPCC-Nov-2015

Dear CA Aspirants,

I got this message on my WhatsApp & its seems very important for CA Final & IPCC November 2015 Examinees, so I going to share with you. [NOT WRITTEN BY ME]

Through this brief write up an attempt has been made to compile amendments introduced in various subjects of CA IPCC and Final for November 2015 examination. Main purpose of this compilation is to help needy students and not to take credit of others work by sharing the link of their work. I hope that this write up would be of some help.

1. AMENDMENTS APPLICABLE FOR NOVEMBER 2015 CA FINAL EXAMINATION

Kindly refer the link below to download the documents containing ICAI advice regarding Applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for November, 2015 – CA Final Examination. These amendments relating to the subjects of Financial Reporting, Advanced Auditing and Professional Ethics,  Corporate and Allied Laws,  Direct Tax Laws and Indirect Tax Laws:
http://220.227.161.86/38141bos27827final.pdf

2. Changes in ISCA subject for CA final for November 2015 examination:

ICAI has recently made amendments in the ISCA Study Material for Nov 2015 attempt by including new topics into the current syllabus and also removing certain topics. You may cross check the same by opening E-book for CA-Final ISCA and see the 1st pages. The new Chapters in ISCA are as follows:

ISCA Chapter 1: Concepts of Governance and Management of Information Systems
ISCA Chapter 2: Information Systems Concepts
ISCA Chapter 3: Protection of Information Systems
ISCA Chapter 4: Business Continuity Planning and Disaster Recovery Planning
ISCA Chapter 5: Acquisition, Development and Implementation of Information Systems
ISCA Chapter 6: Auditing of Information Systems
ISCA Chapter 7: Information Technology Regulatory Issues
ISCA Chapter 8: Emerging Technologies

You may download ISCA New and Amended Study Material below with new syllabus from the link mentioned below:
http://www.icai.org/post.html?post_id=5776

Also download a very useful file from the link below:
http://www.caclubindia.com/files0512/965646_20150723134331_isca_changes.pdf

Always use updated Study Material to avoid confusion and risk:

Further, as per my opinion always prefer to use latest books, Practice manuals and Revision Test Papers as there are small amendments in almost all the chapters of ISCA and especially in chapter 1 and 8. You may be spending a little more money, but that can fetch you extra marks for sure. Hence, pick latest recommended book applicable for November 2015 attempt along with Practice manuals and Revision Test Papers uploaded or to be uploaded by ICAI for November 2015 exams..

3. Changes in CA Final Audit and Law subject for November 2015 examination:

There are few changes introduced in Law and Audit subjects. Kindly download the relevant files for CA Final Audit amendments applicable for November 2015:
http://www.caclubindia.com/files0512/1368011_20150726123317_ca_final_audit_amendments_for_nov_2015_exams.pdf

Also download relevant files from Mr. Kamal Garg for CA Final Audit and Corporate and Allied Law Amendments for November 2015:
http://www.caclubindia.com/forum/audit-and-law-amendments-for-nov-2015-exam-333569.asp

4. Changes in CA Final Financial Reporting subject for November 2015 examination:

As per ICAI Notification dated May 30, 2015, the topic of “Overview of International Accounting Standards (IAS) / International Financial Reporting Standards (IFRS), Interpretations by International Financial Reporting Interpretation Committee (IFRIC), Significant differences vis-a-vis Indian Accounting Standards; Understanding of US GAAPs, Applications of IFRS and US” would be excluded from the syllabus of Final Paper 1 : Financial Reporting and the same would not be applicable from November, 2015 Examination.

Further, the topic of “Introduction of Indian Accounting Standards (Ind AS); Comparative study of ASs vis-a-vis Ind ASs; Carve outs/ins in Ind ASs vis-à-vis International Financial Reporting Standards (IFRSs)” would be  in the syllabus of Final Paper 1 : Financial Reporting and the same would be applicable from May, 2016 Examination.

5. Changes in CA Final Direct and Indirect Tax subject for November 2015 examination:

Wealth-tax Act, 1957 and Rules thereunder covered in Paper-7 (Direct Tax Laws) are not applicable for November 2015 examination. Kindly refer ICAI notification available at the link below:
http://resource.cdn.icai.org/37411bos234015.pdf

Further Amendments made by the Finance Act, 2014 and various circulars and notifications issued up to 30th April, 2015, will be applicable for Direct Tax and Indirect Tax for CA Final November, 2015 examinations. Applicable assessment year for CA Final Direct Tax Laws paper for November, 2015 Examination will be A.Y. 2015-16.

Download Direct and Indirect Tax cases Relevant for November 2015 examinations from the links given below:

Indirect Tax Case Laws:
http://220.227.161.86/35312scasesp8.pdf

Direct Tax Case Laws:
http://220.227.161.86/35311scasesp7.pdf

6. AMENDMENTS APPLICABLE FOR NOVEMBER 2015 CA IPC EXAMINATION

Kindly refer the link below to download the documents containing ICAI advice regarding Applicability of Standards/ Guidance Notes/ Legislative Amendments etc. for November, 2015 – Intermediate (IPC) Examination:

http://220.227.161.86/38142bos27827ipc.pdf

Further, the topic of “Financial Reporting of Electricity Companies” would be excluded from the syllabus of Intermediate (IPC) Paper 5: Advanced Accounting and the same would not be applicable from November, 2015 Examination and onwards.

There is Modification in the Syllabus of Intermediate (IPC) Paper 5 Advanced Accounting and applicability of the same for November, 2015 Examination and onwards. Kindly check the link below to note such amendment.
http://www.icai.org/new_post.html?post_id=11627&c_id=342

7. Applicability of CARO 2015 to November 2015 examination:

Companies (Auditor’s Report) Order, 2015 [CARO] was issued by the Ministry of Corporate Affairs on 10th April, 2015. As per previous notification of ICAI, CARO 2015 was not applicable for May 2015 exam. However, the same is applicable for CA Final Nov 2015 Exams due to the applicability of Section 143 of the Companies Act, 2013 (corresponding to Section 227(1A) of the Companies Act, 1956).

All other legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 30th April, 2015 is applicable for November 2015 Examination.

8. Practice Manuals and Revision Test Papers best sources to prepare amendments:

As per my opinion Practice Manuals (PMs) and Revision Test Papers (RTPs) issued by ICAI for a particular attempt are the best sources for giving final touch to your exam preparation and to prepare new amendments. Till date Revision Test Papers (RTPs) for November 2015 attempt not issued by ICAI. I believe next month i.e. in August 2015 the same will be issued.

Also check my article related to Exam Preparation Points for November 2015, available at the link given below:
http://www.caclubindia.com/articles/exam-preparation-points-for-november-2015-24523.asp

Change in CPT, IPCC and final syllabus November 2015 and onwards

As per recent move from ICAI, the syllabus of CA course for CPT, IPCC and Final is going to be changed from 2016. ICAI has issued a Revised Scheme of Education and Training in this regard. This notification is available at the link below:
http://220.227.161.86/38143bos27828.pdf

After getting requisite approval from Central Government, new course for 2016 will be launched by ICAI. For students currently pursuing CA under existing scheme, I am very hopeful based on past “course change history” that ICAI will surely provide few attempts to complete CA course under old syllabus. But we have to wait for official ICAI announcement in this regard. So as per my suggestion to existing CA students, it is better to focus on current study and do not think too much about applicability of new syllabus.

For more clarity and CA syllabus change details, you are advised to keep a watch on ICAI website and relevant announcements in this regard. You may please note that the details of exact changes in syllabus is to be rolled out by ICAI so the picture about new syllabus is not clear.

Hope it will help you a lot. Please share with your friends.

Regards,
Yogesh Gupta

Facebook Page

Where is Yogesh Gupta Rohtak ‘s Blogspot blog?

23 Nov manage-finance

To my all dear Friends & Loyal Readers,

I got a news that some of the users of my blog(s) is finding regularly my blog with my name on internet. This shows their love toward me and I would like to convey my thanks to them for this relationship which I got in short span of time.

Internet is a NET, if you not update regularly then your all old relevant posts will stuck in this net.  My finals exams are at my door step and due to my hectic schedule it is not possible to update daily.  This is the reason I transferred my old blog (YogeshGuptaRohtak.blogspot.com), to survive my old posts and help to other students.

I will join you back with my new notes and material, now need to your good wishes so that I can add prefix CA with my name.

If any one want to contact me then you may contact me at my different social channels, I will reply you ASAP.

GOOD LUCK TO EVERYONE ..  TAKE CARE🙂

Amendments in Auditing for CA IPCC Nov 2014 – Companies Act 2013

4 Sep

Amendments in Audit for CA IPCC Nov 2014 Exams (as per companies act 2013)

As we all know after the application of Companies Act, 2013, syllabus is changed in our academic textbooks. Law.. Accounts… Audit… everything is affected from this new act. So, our institute take a good step in the interest of students toward the updation in their study materials. This is the academic update as per the amended syllabus of Auditing & Assurance of IPCC which is issued by I.C.A.I..

Related Post: All amendments for CA IPCC November 2014 Exams are at one place:

 

amendments-in-auditing-nov-2014-ipcc

 

PAPER – 6: AUDITING AND ASSURANCE

PART – I : ACADEMIC UPDATE

(Legislative Amendments as per the Companies Act, 2013)

 

1) Payments controlled by the Companies Act, 2013:

a) Under section 180, the Board of Directors of a company except with the consent of the company by a special resolution exercises the following powers.

i) to sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking of the company or where the company owns more than one undertaking, of the whole or substantially the whole of any of such undertakings.

ii) to invest otherwise in trust securities the amount of compensation received by it as a result of any merger or amalgamation;

iii) to borrow money, where the money to be borrowed, together with the money already borrowed by the company will exceed aggregate of its paid-up share capital and free reserves, apart from temporary loans obtained from the company’s bankers in the ordinary course of business:

Provided that the acceptance by a banking company, in the ordinary course of its business, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise, shall not be deemed to be a borrowing of monies by the banking company within the meaning of this clause.

iv) to remit, or give time for the repayment of, any debt due from a director.

b) Under section 181, the Board of Directors of a company can contribute to the bonafide charitable and other funds any amount in any financial year. Prior permission of the company in general meeting is required in case if the aggregate of such contribution exceeds 5% of its average net profits for the three immediately preceding financial years.

c) Section 182 deals with prohibition and restriction regarding political contributions. According to this section, a government company or any other company which has been in existence for less than three financial years cannot contribute any amount directly or indirectly to any political party. In other cases, contribution in any financial year should not exceed 7½ % of average net profits during the three immediately preceding financial years.

d) Section 183 permits the Board and other person to make contributions to the National Defence Fund or any other Fund approved by the Central Government for the purpose of National Defence to any extent as it thinks fit. 

 
 

2) Allotment of shares and receipt of Allotment: (Section 39 of the Companies Act, 2013)

i) Director’s Minutes Book to verify approval of allotments.

ii) Compare copies of letters of allotment with entries in the Application and Allotment Book.

iii) Trace entries in the Cash book into the Application and Allotment Book for the verification of amounts collected on allotment.

iv) Trace the amount collected on application as well as those on allotment from the Application and Allotment Book into the Share Register.

v) Check whether the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on such application have been received by the company.

vi) Check that the amount payable on the application on every security is not less than five percent of the nominal amount of security or such other percentage or amount as may be prescribed by the SEBI.

vii) If the stated minimum amount has not been subscribed and the sum payable on subscription is not received within a period of thirty days from the date of issue of the prospectus or such period as my be specified by the SEBI, check that the amount received above is returned within a period of fifteen days from the closure of the issue and if in case the amount is not repaid within such period, the directors in default shall jointly and severally be liable to repay that amount with interest at the rate of fifteen percent per annum.

viii) Check totals of amounts payable on allotment and verify the journal entry debiting Share Allotment Account and crediting Share Capital Account. 

 

3) Prohibition for buy back in certain circumstances : Section 70 of the Companies Act, 2013.

i) No company shall directly or indirectly purchase its own shares or other specified securities—

(a) through any subsidiary company including its own subsidiary companies; or

(b) through any investment company or group of investment companies; or

(c) if a default, by the company, in repayment of deposit or interest payable thereon, redemption of debentures or preference shares or payment of dividend to any shareholder or repayment of any term loan or interest payable thereon to any financial institutions or bank, is subsisting. Provided that the buy – back is not prohibited if the default is remedied and a period of three years has elapsed since the cessation of the default.

ii) No company shall directly or indirectly purchase its owns of Sections 92,123, 127 and 129. Section 92 relates to the filing of Annual Return, Section 123 and 127 to declaration and payment of dividend and Section 129 to the financial statement of the company. 

 

4) Central Government to prescribe Accounting Standards (Section 133 of the Companies Act, 2013):

Section 133 of the Companies Act, 2013 provides the provisions for Central Government to prescribe accounting standards. According to section 133 of the Companies Act, 2013: “Accounting Standards” means the standards of accounting or any addendum thereto as recommended by the Institute of Chartered Accountants of India (ICAI) constituted under section 3 of the Chartered Accountants Act, 1949, as may be prescribed by the Central Government in consultation with and after examination of the recommendations made by the National Financial Reporting Authority constituted under section 132 of the Companies Act, 2013.

In respect of accounting standards, the role of National Financial Reporting Authority is limited to advise the Central Government on the accounting standards recommended by ICAI for adoption by companies. The Ministry of Corporate Affairs (MCA) vide General Circular No. 15/2013 dated 13th September, 2013 has clarified that till the Standards of Accounting or any addendum thereto are prescribed by Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing Accounting Standards notified under the Companies Act, 1956 shall continue to apply. 

 

5) Payment of Dividend in proportion to amount paid-up (Section 51 of the Companies Act, 2013):

A company, if so authorised by its Articles, may pay dividend in proportion to the amount paid-up on each share.

You can download these amendments in PDF format, with clicking here.

Amendments in Auditing for CA IPCC Nov 2014 – Companies Act 2013

4 Sep

Amendments in Audit for CA IPCC Nov 2014 Exams (as per companies act 2013)

As we all know after the application of Companies Act, 2013, syllabus is changed in our academic textbooks. Law.. Accounts… Audit… everything is affected from this new act. So, our institute take a good step in the interest of students toward the updation in their study materials. This is the academic update as per the amended syllabus of Auditing & Assurance of IPCC which is issued by I.C.A.I..

Related Post: All amendments for CA IPCC November 2014 Exams are at one place:

 

amendments-in-auditing-nov-2014-ipcc

 

PAPER – 6: AUDITING AND ASSURANCE

PART – I : ACADEMIC UPDATE

(Legislative Amendments as per the Companies Act, 2013)

 

1) Payments controlled by the Companies Act, 2013:

a) Under section 180, the Board of Directors of a company except with the consent of the company by a special resolution exercises the following powers.

i) to sell, lease or otherwise dispose of the whole or substantially the whole of the undertaking of the company or where the company owns more than one undertaking, of the whole or substantially the whole of any of such undertakings.

ii) to invest otherwise in trust securities the amount of compensation received by it as a result of any merger or amalgamation;

iii) to borrow money, where the money to be borrowed, together with the money already borrowed by the company will exceed aggregate of its paid-up share capital and free reserves, apart from temporary loans obtained from the company’s bankers in the ordinary course of business:

Provided that the acceptance by a banking company, in the ordinary course of its business, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise, shall not be deemed to be a borrowing of monies by the banking company within the meaning of this clause.

iv) to remit, or give time for the repayment of, any debt due from a director.

b) Under section 181, the Board of Directors of a company can contribute to the bonafide charitable and other funds any amount in any financial year. Prior permission of the company in general meeting is required in case if the aggregate of such contribution exceeds 5% of its average net profits for the three immediately preceding financial years.

c) Section 182 deals with prohibition and restriction regarding political contributions. According to this section, a government company or any other company which has been in existence for less than three financial years cannot contribute any amount directly or indirectly to any political party. In other cases, contribution in any financial year should not exceed 7½ % of average net profits during the three immediately preceding financial years.

d) Section 183 permits the Board and other person to make contributions to the National Defence Fund or any other Fund approved by the Central Government for the purpose of National Defence to any extent as it thinks fit. 

 
 

2) Allotment of shares and receipt of Allotment: (Section 39 of the Companies Act, 2013)

i) Director’s Minutes Book to verify approval of allotments.

ii) Compare copies of letters of allotment with entries in the Application and Allotment Book.

iii) Trace entries in the Cash book into the Application and Allotment Book for the verification of amounts collected on allotment.

iv) Trace the amount collected on application as well as those on allotment from the Application and Allotment Book into the Share Register.

v) Check whether the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on such application have been received by the company.

vi) Check that the amount payable on the application on every security is not less than five percent of the nominal amount of security or such other percentage or amount as may be prescribed by the SEBI.

vii) If the stated minimum amount has not been subscribed and the sum payable on subscription is not received within a period of thirty days from the date of issue of the prospectus or such period as my be specified by the SEBI, check that the amount received above is returned within a period of fifteen days from the closure of the issue and if in case the amount is not repaid within such period, the directors in default shall jointly and severally be liable to repay that amount with interest at the rate of fifteen percent per annum.

viii) Check totals of amounts payable on allotment and verify the journal entry debiting Share Allotment Account and crediting Share Capital Account. 

 

3) Prohibition for buy back in certain circumstances : Section 70 of the Companies Act, 2013.

i) No company shall directly or indirectly purchase its own shares or other specified securities—

(a) through any subsidiary company including its own subsidiary companies; or

(b) through any investment company or group of investment companies; or

(c) if a default, by the company, in repayment of deposit or interest payable thereon, redemption of debentures or preference shares or payment of dividend to any shareholder or repayment of any term loan or interest payable thereon to any financial institutions or bank, is subsisting. Provided that the buy – back is not prohibited if the default is remedied and a period of three years has elapsed since the cessation of the default.

ii) No company shall directly or indirectly purchase its owns of Sections 92,123, 127 and 129. Section 92 relates to the filing of Annual Return, Section 123 and 127 to declaration and payment of dividend and Section 129 to the financial statement of the company. 

 

4) Central Government to prescribe Accounting Standards (Section 133 of the Companies Act, 2013):

Section 133 of the Companies Act, 2013 provides the provisions for Central Government to prescribe accounting standards. According to section 133 of the Companies Act, 2013: “Accounting Standards” means the standards of accounting or any addendum thereto as recommended by the Institute of Chartered Accountants of India (ICAI) constituted under section 3 of the Chartered Accountants Act, 1949, as may be prescribed by the Central Government in consultation with and after examination of the recommendations made by the National Financial Reporting Authority constituted under section 132 of the Companies Act, 2013.

In respect of accounting standards, the role of National Financial Reporting Authority is limited to advise the Central Government on the accounting standards recommended by ICAI for adoption by companies. The Ministry of Corporate Affairs (MCA) vide General Circular No. 15/2013 dated 13th September, 2013 has clarified that till the Standards of Accounting or any addendum thereto are prescribed by Central Government in consultation and recommendation of the National Financial Reporting Authority, the existing Accounting Standards notified under the Companies Act, 1956 shall continue to apply. 

 

5) Payment of Dividend in proportion to amount paid-up (Section 51 of the Companies Act, 2013):

A company, if so authorised by its Articles, may pay dividend in proportion to the amount paid-up on each share.

You can download these amendments in PDF format, with clicking here.

Download Chapter Wise Notes on Companie Act 2013 – CA, CS, CWA

4 Sep
 

Institute of Chartered Accountancy already notified that Companies Act, 2013 will be applicable in CA November 2014 exams [Check Here] and CA May 2015 Exams. [Check Here]. So with the motive of help I am going to share here shorts notes of Companies Act 2013 notes which is helpful to the CA, CS, CWA students. These notes are shared by Mr. Ketan Sardana.

 

“Accounting related sections of the Companies Act, 2013, notified in Sept, 2013, along with the clarifications issued by the Ministry of Corporate Affairs are applicable for Nov. 14 Examination.

Notified Sections of Chapter IX of the Companies Act, 2013 along with relevant Rules will be applicable for November, 2014 Examination.”


Chapters & Topics Included in these notes:

  1. Incorporation Of Company And Matters Incidental Thereto
  2. Prospectus And Allotment Of Securities
  3. Share Capital And Debentures
  4. Acceptance Of Deposits By Company
  5. Registration Of Charges
  6. Management And Administration
  7. Declaration Of Payment Of Dividend
  8. Accounts Of Companies
  9. Audit And Auditors
  10. Appointment And Qualifications Of  Directors
  11. Meetings Of Board And Its Powers
  12. Appointment And Remuneration Of Managerial Personnel

 Download Links:

 

Server 1: Click Here

Server 2: Click Here

 

https://drive.google.com/file/d/0B_oGmIypmXtPWEFSVDVxX295TE0zaWVhdDFOMVNuOTRmR25R/edit?usp=sharing

https://drive.google.com/file/d/0B_oGmIypmXtPWEFSVDVxX295TE0zaWVhdDFOMVNuOTRmR25R/edit?usp=sharing

https://drive.google.com/file/d/0B_oGmIypmXtPWEFSVDVxX295TE0zaWVhdDFOMVNuOTRmR25R/edit?usp=sharing

https://drive.google.com/file/d/0B_oGmIypmXtPWEFSVDVxX295TE0zaWVhdDFOMVNuOTRmR25R/edit?usp=sharing

https://drive.google.com/file/d/0B_oGmIypmXtPWEFSVDVxX295TE0zaWVhdDFOMVNuOTRmR25R/edit?usp=sharing

 

 
 

 
 
 

 
 

Please don’t forget to Share these notes.

Interview with CA Exams topper – Sanjay Nawandhar

4 Sep

Friends, Mr. Sanjay Nawandhar, a Jaipur based student,  who got All India Rank-1 in Chartered Accountancy exams conducted by ICAI in May 2014. Result are declared on 8th August 2014. caclubindia, conducted a exclusive interview with him. I share the same in front of you which may help you.

 Chartered Accountant Sanjay’, how are you feeling now?

Ya, I’m actually feeling, how in a day everything changes. It’s  because of the hard work of 3 years that in the span of one day  everything has changed. It feels great!!

What was your first reaction when you got to know that you have secured All India 1st Rank?

Actually, first of all, I just looked at the marksheet. When I looked  at the marks, without checking the merit list, I was like “Ohh, No!!  These are very less marks and it’s very difficult to achieve a rank even in top 10″. But after that, I just went through the merit list  and I was like…”Oh great!! This is First Rank; this is it, this is  the maximum” The reaction was just after I saw the mark sheet, I was like a bit low and just within a second as soon as I saw that 1 written over there, I started jumping.

Advanced IT training (ITT) for CA Final Students – caspot.com

4 Sep

Advanced ITT is applicable only to those students who are registered for CA Final on or after 1st August 2012. Such candidates must undergo Advanced ITT during 3rd year of Articleship but before appearing in CA Final. The training will be of 100 hours and alike ITT it would be done for around 2 months with 3 to 5 hours maximum per day.

Advanced IT training is also made compulsory for those who are registered for Articleship on or after 1st August 2012. This Advanced IT training is to be perused in the last year of article ship training. Further any kind of notification till now is not out by the ICAI in this regard. For reading all the syllabus content & other things, Please visit this link.

 

Free Direct / Indirect Tax Notes for CA IPCC for November 2014 Exams

26 Jul taxation-notes-for-IPCC-November-2014

 

Exclusive Notes of Direct and Indirect Taxation for IPCC November 2014 [amended as well as revised] [free e-book] [pdf] [also helpful to CS, CWA/CMA students]

The syllabus content is revised of Taxation paper of CA IPCC for November 2014 examinations. After the Income Tax, VAT, Service Tax, ICAI also put the indirect tax part in new syllabus i.e Excise Duty Custom Duty. So, with the help of some blogs and pages now I am able to upload the Important notes on Income Tax/Service Tax/Excise Duty/ Custom Duty/ Value Added Tax (VAT) in one file. In this post you can download the 100% free notes of 100 marks taxation paper of IPCC stage of Chartered Accountancy Course. These notes are exclusively amended for the November 2014 exams. All the relevant amendment are incorporate in this file. You can download the file from this link.  

 

Download Link: Download from here

Special Thanks to CA Clues

 

direct-and-indirect-taxation-notes-for-IPCC-November-2014

 

Revised syllabus of Taxation paper for CA IPCC November 2014

 

PAPER 4: TAXATION

(One paper – three hours –100 marks)

Level of Knowledge: Working knowledge

Objectives:

(a) To gain knowledge of the provisions of Income-tax law relating to the topics mentioned in the contents below; and

(b) To gain ability to solve simple problems concerning assesses with the status of ‘Individual’ covering the areas mentioned in the contents below.

Contents:

PART I: INCOME-TAX (50 MARKS)

  1. Important definitions in the Income-tax Act, 1961
  2. Basis of charge; rates of taxes applicable for different types of assessees
  3. Concepts of previous year and assessment year
  4. Residential status and scope of total income; Income deemed to be received / deemed to accrue or arise in India
  5. Incomes which do not form part of total income
  6. Heads of income and the provisions governing computation of income under different heads
  7. Income of other persons included in assessee’s total income
  8. Aggregation of income; set-off or carry forward and set-off of losses
  9. Deductions from gross total income
  10. Computation of total income and tax payable; rebates and reliefs
  11. Provisions concerning advance tax and tax deducted at source
  12. Provisions for filing of return of income.

PART II – INDIRECT TAXES (50 MARKS)

Objective:

To develop an understanding of the basic concepts of the different types of indirect taxes and to acquire the ability to analyse the significant provisions of service tax.

  1. Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional aspects, Basic concepts relating to levy, taxable event and related provisions
  2. Significant provisions of service tax
  • Constitutional Aspects
  • Basic Concepts and General Principles
  • Charge of service tax including negative list of services
  • Point of taxation of services
  • Exemptions and Abatements
  • Valuation of taxable services
  • Invoicing for taxable services
  • Payment of service tax
  • Registration
  • Furnishing of returns
  • CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]

Note – If new legislations are enacted in place of the existing legislations the syllabus will accordingly include the corresponding provisions of such new legislations in place of the existing legislations with effect from the date to be notified by the Institute. Students shall not be examined with reference to any particular State VAT Law.

 

Keep Sharing if you like the posts. 

 
 

Regards,

Yogesh Gupta

 http://facebook.com/Mr.YogeshGupta3

Top 6 Reasons why students fails in CA/CS/CWA exams

30 Jun

Friends, now, I’m coming with the new article on “FAILURE OF CA/ CS/ CWA STUDENTS IN THEIR EXAMS”, its little bit annoyed topic, but almost all CA Students have to face this😦 [exception excluded].  This is the main reason our CA/ CS/ CWA Course is on the top in the country in commerce fields. Today, I’m compiling one article “the top reasons why students fails in CA, CS, CWA exams and what is the remedy”. Some harsh words are used here, but all the things only for your help.

 

REASON 1-Carelessness of the student towards their career.
REMEDY–  Click Here to See Remedy to this point

 

REASON 2-Engaged in other activities during preparation (i.e. social media, Parties, Marriages, other family programes, etc)

 

REASON 3-Late start of study (because we want to become a CA in just by study 2-3 months? friends, this is not possible) [exceptions excluded]

REMEDY Click Here to See Remedy to this point

REASON 4- Study without proper planning and time allocation for each subject

REASON 5-Ignorance of study materials, suggested and RTP issued by the Institutes.

REMEDY Click Here to See Remedy to this point

REASON 6-Casual Reading

REMEDY Click Here to See Remedy to this point

CS Executive December 2014 Time Table (OMR Based)

30 Jun

The Institute of Company Secretaries of India declare the date sheet of CS Executive Dec 2014 and CS Professional (Final) December 2014. In this upcoming exams, ICSI will follow new Exam style for New Syllabus of CS Executive (Inter) programme. These papers will be held in OMR pattern !!!!

%d bloggers like this: