Category Archives: CA FINAL

Notes on CA Final AMA

CHAPTER 1: DEVELOPMENTS IN BUSINESS ENVIRONMENTAccounting is the language of business that communicates the financialresults of an enterprise to various stakeholders viz., investors, regulatingagencies, the management itself etc. by means of various financialstatements. Accounting is the process of identifying, measuring, recording,classifying, summarising, analyzing, interpreting and communicating thefinancial transactions and events. Accounting is classified into FinancialAccounting,… Read More »

Notes on Company Law for CA Final

Notes on Company Law Points to Remember 1.     All amendments corresponding with companies act 2013 are compiled in this summary 2.     Many sections of new companies act 2013 is not notified by MCA (ministry of corporate affairs) so that sections are of old companies act 1956 3.     Wherever as per companies act written that means… Read More »

Economical Value Added Income

ECONOMIC VALUE ADDED (EVA)1. Delta Ltd.’s current financial year’s income statement reports its net income as Rs. 15, 00,000. The marginal Tax Rate is 40% and its interest expense for the year was Rs. 15, 00,000. The company has Rs. 1, 00, 00,000 of invested capital, of which 60% is debt. In addition, Delta Ltd… Read More »

CA Final Capital Gain Objective question Answers

Objective Questions on Basic Concepts of Capital Gain 1 Which of the following is not a capital asset ? a Car used for household purposes c Rural Residentail Land b Jewellery d Patent Rights 2 Which of the the following asset shall be long term after completing the holding period of more than 12 months?… Read More »

CA Final SFM Theroy N.otes for May 2016 Exams

Index1 Indian Capital Market 33 1-172 Derivatives 21 18-293 Portfolio Management 11 30-354 Dividend Decisions 12 36-425 Foreign Exchange & Risk Management 7 43-466 Project Planning 5 47-497 Capital Budgeting 16 50-558 Leasing Decisions 7 56-579 Financial Services 19 58-6410 Bond Valuation 3 6511 Mutual Funds 6 66-6812 Money Market Operations 14 69-7313 Mergers, Acquisitions… Read More »

Central Excise Notification & Circulars for May 2016 Exam

Significant Notifications and Circulars of central excise issued between 1st May, 2015 and 31st October, 2015 Central Excise  1. No refund of CENVAT credit under rule 5B to service providers providing manpower supply/ security services Rule 5B of the CENVAT Credit Rules, 2004 provides that service providers, rendering notified reverse charge services, being unable to… Read More »

CA Final Amendments by Finance Act 2015 applicable for May 2016

DIRECT TAXESAMENDMENT OF FINANCE ACT, 2015APPLICABLE FOR MAY 2016 INTRODUCTIONThe Finance Bill, 2015 proposes to make amendments in direct tax provisions by proposing amendments to the Income-tax Act, 1961, Wealth-tax Act, 1957, Finance Act, 1994 and Finance (No.2) Act, 2004.  A gist of the main amendments is given below:-Direct Taxes2.         Rates… Read More »

ICAI Notified CA Direct Tax Final Case Laws Significant

ICAI Notified CA Direct Tax Final Case Laws Significant ( Relevant for May 2016 Examination ) -Amco Power Systems Ltd 2015 Kar Lumpsum consideration used in Sec. 35AB 90 – Amarnath Agrawal 2015 All Conversion from leasehold to freehold 223 – Bhagat Construction Co. Pvt. Ltd 2015 SC Tax paid by such an assessee is… Read More »

Direct Tax Amendments for CA Final May 2016

CBDT to prescribed the manner of computation ofperiod of stay for an Indain citizen, being a memberof crew of a foreigen bound ship leaving India[section-6(1)] Explanation 2 has been added which provide that in case of individual the period of stay in India be determine in such a manner and subject to the prescribed manner… Read More »

CA Final Case Laws Ebook

S.No Case Explanation 1 ITO vs. Ch. Atchaiah (Supreme Court) Income of AOP has to be taxed in the hands of AOP only and the members of AOP cannot be taxed individually. 2 Dr. T.A. Qureshi vs. CIT [2006] 157 Taxman 514 SC Illegal income Ex:- Selling drugs etc. 3 Kesoram Industries & Cotton Mills… Read More »