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CA FINAL (NEW COURSE) IFRS--, TAX CODE---, GST???

Anubhav Jain (busy) (734 Points)

02 May 2010

PLEASE LET ME KNOW THAT WHETHER IFRS, GST AND TAX CODE.. WILL HOW FAR AS APPLICABLE IN MAY 2011 CA FINAL EXAM..........

ONE THING MORE----- WAT IS DIFF. BETWEEN IFRS AND IAS (INTERNATIONAL ACCOUNTING STANDARDS)?????

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15 Replies

(Guest)

even I m in th same dilemma...........

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loveleen (CA) (144 Points)
Replied 02 May 2010

I dont know about DTC and IFRS but GST is far far way and will not be applicable for May 11

Vikram M. (Unemployed) (504 Points)
Replied 02 May 2010

It's very unlikely that they will be applicable for exams in May '11.

IAS are the older international standards. They're in the process of being withdrawn one by one and replaced with IFRS.

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Alex Sharma (CA & ICWA Final student; CS & CFA completed) (194 Points)
Replied 02 May 2010

DTC....is jst a code!

It will take time for it to become an Act. i.e replace the existing IT Act 1961

Do Not Worry

CA Pooja (CA) (114 Points)
Replied 02 May 2010

They are not applicable for Nov10...But you should have some idea about it as any concept or def can be asked from DTC

All the Best

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Anubhav Jain (busy) (734 Points)
Replied 02 May 2010

its confusing ------------ wat to do and wat not to do????????

Vikram M. (Unemployed) (504 Points)
Replied 02 May 2010

My advice is to take it easy. Going by past experience, the Institute will go slow on including these topics in our syllabus, even after these acts get implemented on the ground. ICAI knows there are many who'll have spent more than a year preparing the older acts.

Ranjan (CA) (127 Points)
Replied 03 May 2010

In tax i hv seen that in may attempt you will study that A.Y for which the return will be furnished. So, from my side, its no bt you should know little bit about it as rightly said by Pooja which will automatically be cleared when our exams will come nearby. So, do not be confused.

IFRS- As per discussion with my friends, in coaching, IFRS is being taught.

Anubhav Jain (busy) (734 Points)
Replied 03 May 2010

as u said that IFRS being taught my Q. is that is it being taught in breif or in full

luv (article) (30 Points)
Replied 05 May 2010

Basically the amendments and new introductions which are finalised six months prior to exams are applicable

So definetly as IFRS are finalised to be applicable from 1st april 2011 which is declared more than six months from exams so they will be asked.

But as for DTC and GST it is still not 100% finalised, at current moment it not seems to be applicable

then also wait n watch

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sakshi (article) (21 Points)
Replied 12 November 2010

really strresed yaar.................nobdy knws wats gonna happen plz temme wether these r applicable to may 2011 attempt or not

Sumit (PR) (336 Points)
Replied 13 November 2010

hey they asked IFRS direct question without even stating its name - just IFRS 6 in this accounts paper..so they definitley want students to know IFRS. so IFRS is applicable fully.

but GST is to rolled in 2010 and likely that DTC will be rolled out along with GST so i dont think its gonna come in may 11...i will confirm bout DTC from professors and intimate soon.

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