27 July 2012
Is the syllabus of Ca final for may 2012 is the same applicable for Nov 2012 Exam??? is there any requirement to take amendment classes for direct and indirect tax OR any change in any other subject???
1) Indian Accounting Standards converged with the IFRS (Known as Ind AS): NOT applicable. 2) AS 1-29 and all 15 Guidance Notes: Fully Applicable. 3) Amendment to Para 46 of AS 11 of the Companies (Accounting Standards) Rules, 2006: The MCA has extended the option for the enterprises to capitalize the exchange differences arising on reporting of long term foreign currency monetary items till 31st March 2020 instead of 31st March 2012. 4) Insertion of para 46A in Accounting Standard 11 of the Companies (Accounting Standards) Rules, 2006. 5) AS 30-32: Simple practical problems (since separate chapter No. 6 ‘Financial Instruments’ in Vol-II ). 6) ASI 2 and 11(withdrawn), ASI 12, 23, 27 and 29(withdrawn and issued as Guidance Notes), and remaining ASI merged as explanations in relevant AS. 7) Study Material (Volume I and II) and Practice Manual (Volume III) issued in January, 2012. 8) Revision Test Paper (RTP) for Nov, 2012 which will cover all official Announcements and Notifications (in relation to syllabus) issued till 30th April, 2012. 9) Revised Schedule VI to the Companies Act, 1956. 10) Revised Capital Adequacy Framework for Off-Balance Sheet Items for NBFCs.
Paper 3 Advanced Auditing and Professional Ethics
1) Statement on Reporting under Section 227 (1A) of the Companies Act, 1956. 2) Companies (Auditor’s Report) Order, 2003 (2005 Edition). 3) All 44 Standards on Auditing (SQC/SA/SRS/SRE/SAE) 4) Total 21 Guidance Note. 5) Study Material (Volume I and II) and Practice Manual (Volume III) issued in January, 2012. Note: Guidance Note on Audit under section 44 AB of the Income-tax Act, 1961 (2005 edition) along-with the supplementary guidance note (excluding the portion relating to Fringe Benefit Tax Provisions) published in September, 2006.
Paper 4 Corporate and Allied Laws
1) Following will not be Applicable: a) The Companies Bill, 2011 b) Provisions relating to Revival and Rehabilitation of Sick-Industrial Companies. 2) Revised Schedule VI to the Companies Act, 1956. 2) As Companies (Second Amendment) Act, 2002 has not come into force till date, questions should be asked only from the General Provisions of winding up (Paragraph 9.4 of the study material). 3) SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2012 issued vide Notification No. LAD-NRO/GN/2011-12/34/2499 dated 30th January, 2012. 4) SEBI ICDR (Second Amendment) Regulations, 2012 issued vide Notification No. LAD-NRO/GN/2011-12/35/3186 dated 7th February, 2012.
Paper 7 Direct Tax Laws
1) Direct Tax Laws (A.Y.2012-13), as amended by the Finance Act, 2011. 2) The Study Material and Practice Manual (Volume III) for Paper 7. 3) Supplementary Study Paper – 2011. 4) Significant notifications/ circulars/other legislations up to 30.6.2011. 5) Select cases in Direct and Indirect Tax Laws (2011). 6) Revision Test Paper (RTP) for Nov, 2012 examination which will cover the significant amendments made by circulars/notifications issued between 1.7.2011 and 30.4.2012.
Paper 8 Indirect Tax Laws
1) Indirect Tax Laws, as amended by the Finance Act, 2011. 2) The Study Material and Practice Manual for Paper 8. 3) Point of Taxation Rules, 2011 as covered in the Study Material will apply for November, 2012 examinations. 4) The significant amendments made by notifications and circulars issued between 1.5.2010 and 30.6.2011 i.e. Supplementary Study Paper – 2011. 5) The significant amendments made by circulars/notifications issued between 1.7.2011 and 30.4.2012 would be given in the RTP for November, 2012 examination. The following 32 taxable services would be applicable: 1) Intellectual Property Services: i) Franchise services. ii) Intellectual property services. 2) Financial services: iii) Banking and other financial services. iv) Credit Rating agency’s services. v) Stock broking services. 3) Transport of goods services: vi) Goods transport agency’s services. vii) Courier services. viii) Mailing list compilation and mailing services. ix) Transport of goods by air services. x) Clearing and forwarding agent’s services. xi) Cargo handling services. xii) Custom house agent’s services. xiii) Storage and warehousing services. xiv) Transport of goods through pipeline or other conduit. xv) Transport of goods by rail services. 4) Professional Services: xvi) Practising Chartered Accountant’s services. xvii) Management or business consultant’s services. xviii) Technical testing and analysis services. xix) Market research agency’s services. xx) Legal consultancy services. xxi) Public relations services. 5) Real estate and infrastructure services: xxii) Construction in respect of commercial or industrial buildings or civil structures. xxiii) Construction services in respect of residential complexes. xxiv) Architect’s services. xxv) Real estate agent’s services. xxvi) Site preparation and clearance, excavation, earthmoving and demolition services. xxvii) Interior decorator’s services. xxviii) Renting of immovable property services. 6) Business services: xxix) Business auxiliary services. xxx) Business support services. xxxi) Manpower recruitment agent’s services. xxxii) Management, maintenance or repair services.
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