I saw today paper...this is very easy paper..but qus kuch aise aaye the jo mostly hum routne study mai to karte hai but exam time short hone ke karan kuch unimportant topic skip kar dete hai..and nearly 20 marks tak ka exam waha se aaya tha..baki paper is very easy...but marks bahot mushkil se milte hai is paper mai...Best of luck friends

Q.No.2 is mostly based on case studies. Not bad. ok.

nagarajan

The paper was good today, one should get exemption from such a paper.

Originally posted by : sarthak
	scoring paper,mostly ammendment based,direct questions from case laws:)

I totally agree with him. iam suprised to see that not many have mentioned about case laws.

Following are the questions directly lifted from ICAI's "case laws relevant for may 2012"

question 2 - points 1 to 6

question 3c, 4b, 5a

question 5d is from recent notifications

Check it out guys. it will be useful for next attempt, if u r not confident of clearing this time.

Cant tell if ICAI will give more case laws in next attempt also, but we hav to be on safe side. They r few and easy to score, so why ignore them.

PAPER WAS NOT MUCH TOUGH BUT THERE WERE MANY  QUESTIONS WHICH WE GENERALLY DONT EXPECT IN CA FINAL ...THEREBY MAKIN IT A BIT TOUGHER ,,,

Originally posted by : Deepak Kumar Gupta
	The paper was good today, one should get exemption from such a paper.

Wish the world functioned on your opinions!!

All papers should get exemption if you prepare properly, but it doesn't work that way!!

being there and giving the exam and reading the paper and commenting is different

Friends, Q1(a) was simple:

Calculation of Exepmtion u/s 10AA:

Profit of Unit X: 63

Add: Depreciation as charged: (9*180/300): 5.4

Less: Depreciation as per IT Rules*: (7.65*180/300): 4.59

Eligible Profit for Section 10AA: 63.81

Export Turnover of Unit X: 120-20: 100

Total Turnover of Unit X: 180

Exemption u/s 10AA: (63.81*100/180): 35.45

Calculation of Total Income:

Net Profit (63-35.45+36): 63.55

Add: Depreciation as charged: 9

Less: Depreciation as per IT Rules*: 7.65

Total Income: 64.90

(Basis of apportionment of depreciation to units according to sales is debatable).

*Actual Cost of machinery: (9/0.15): 60

Less: WDV Depreciation (assume deprecaition rate as IT Rules-15%) of 1st year: 9

Less: WDV Depreciation (assume deprecaition rate as IT Rules-15%) of 2nd year: 7.65

(Question was based on November 2003 question, All figures in Rs. Lacs)

Has anyone any caselaw about allowability of Secret Commission?

Will it be diallowed u/s37?

Originally posted by : Amit G. Chandani
	Has anyone any caselaw about allowability of Secret Commission? Will it be diallowed u/s37?

Decided by: ITAT, `F’ BENCH, MUMBAI, In The Case of : Kusum R. Ghuwalewala v. ACIT , Appeal No. : ITA No. 3408/Mum/2005, Decided on:February 12, 2009.

most of new cases from RTP had been asked...paper was easy for those who did amendments carefully

if in q1 depreciation jo deduct karna vo 1st year ka krdia instead of 2nd...koi chnc h kuch  marks milne ka

DT and IDT papr was very easy...among 8 papers these two papr are very easy....

then audit and law are in 2nd easy.

most hard and diffclt paper are acc and SFM.... its my personal experience and opinion,