Ca final

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Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2015 Please clearify me that, would the ammendment from the Budget of 2015 be applicable in November 2015 CA Final examination??

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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10 March 2015 Allmost all... or i can say most of the budget amendements wil b there for nov 15

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 March 2015 budget of 2015 is not at all applicable for nov 2015 exam as only finance act 2014 shall be applicable for nov 2015 exam

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Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2015 whom should i believe?
can you please post a institute link related to the issue, if you have.. please

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 March 2015 Budget amendments in respect of Direct Taxes will not be applicable in Nov 2015 since these will be applicable for AY 2016-17 and AY 2015-16 is applicable for Nov 2015 term exam.

But indirect tax amendments will be applicable.

So we can not say the Budget 2015 will be completely applicable or inapplicable for Nov 2015 exams. Wait for supplementary paper to be issued by ICAI in this regard.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 Sanjay ji icai have already issued supplementary on which it has mention on the cover page in physical book stating it as applicable to may and nov 2015 exams so it virtual that ammendments by budget 2015 is not applicable to nov 2015 exam.

Additionally usually the budget becomes a finance act after receiveing assent from president and is finally notified in may everyyear so since in ca exam any ammendments made prior to 6 mnths only are applicable so for nov 15 exam the time comes to april 2015 hence ammendment made by budget 2015 is not all applicable for nov 15 exams of ca course.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 March 2015 http://www.cbec.gov.in/ub1516/do-ltr-jstru1.pdf

Tushar Ji Please see above link and tell whether these changes will be applicable or not for Nov 2015 Exam?

Even though Supplementary paper (Which is common for May & Nov 2015) has been hosted further amendments which will be applicable will be notified.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 further ammendments only till april 2015 shall be disclosed in rtp for nov 2015 but certainly the ammendments made by this budget of 2015 will not be applicable atleast in nov 2015 exam of ca ipcc and ca final.

the above reply of mine is based on past trend of icai followed every year consistently.

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CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 March 2015 Tushar ji you did not answer my question. Amendment made in the link given above was made in Budget 2015. Same is applicable from Midnight 28th Feb/1st March 2015. So will that be applicable or not?

All the notifications and circulars issued upto 30th April 2015 will be applicable Nov 2015 exam. If Service Tax changes are also notified on or before 30th April 2015 it will also be applicable for Nov 2015. Excise amendments made in Budget 2015 which are applicable with immediate effect will also be applicable for Nov 2015 exa.

Direct Tax amendments which is relevant for AY 2016-17 will not be applicable for Nov 2015 exams.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 but every year even when there is ammendment made by budget with retrospective ammendment are not incorporated by icai in nov exam...so going by the trend i have said and given ur ans as it may not be made applicable even if it applicable from march 2015....

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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12 March 2015 when the service tax was raised from 10% to 12% in exam still it was asked as 10% only in 1 of the previous attempt in ca final...i hope now u will agree and i hacve given u ans to ur question.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 March 2015 Tushar Ji you are contradiction your own statement. You yourself said that amendment made prior to 6 months will be applicable. Now you are saying that above notification will not be applicable even though it is issued well prior to 6 months.

If it is not applicable then what is the use of such rule which states that notifications and circulars issued on or before 30th April will be applicable for Nov term exam.

May be you are correct based on your own experience but my reply is based on ICAI guidelines which says notification and circulars issued upto 30th April will be applicable for Nov exam.

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 March 2015 but then it is finally decided by icai even if the rule is contradictory but icai follows this way only and now we cannot debate why icai does so....kyu sahi bolana na?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 March 2015 You are saying that ICAI does this. But where is the evidence?

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