FUTURE CHARTERED

I nterview : Student Cleared IPCC after 9 Attempts Mr.Govind has cleared his CA IPCC after multiple attempts. He as agreed to give a short interview on his prolonged success. Whats your reaction when you finally cleared the exam? I can’t describe my feelings in words. I have been waiting for that moment for 4 years and that should the happiest moment in my life. Did you face any pressure from your family or friends to move on and take up any other course? No, my family and friends have been extremely supportive through this entire episode. The only pressure i faced is from my relatives and neighbours.  Every Diwali they kept asking me what am I doing and for the past 4 years, and I have been telling them the same answer and few made me feel very embarrassed. Then i realized that, People who care about you don't laugh at you. If they are laughing at you, they don't care about you and so, ignore them in the first place. What went wrong in your previous...

ICAI issues Study Material for 2018 in a new format for DT and IDT The institute of Chartered Accountants of India, has revised the study material for  Paper 7: Direct tax law and  Paper 8: Indirect tax law . The new study material is very different than any other study material issued by ICAI. There is no distinction between study material and practice manual like earlier. The ICAI has only issued 4 modules for each subject. These modules are same for old and new course for CA Final with some exclusions for students appearing in old course examination in  Paper 7: Direct tax law s. The basic structure of each chapter in module is as follows (as given in ICAI's Modules):- Components of each chapter About the component Learning Outcomes Learning outcomes which you need to demonstrate after learning each topic have been detailed in the first page of each chapter. Demonstrations of there learning outcomes would help you to achieve the desired l...

FAQs  in respect of Revised Scheme of  Education and Training <script async="" src="// pagead2.googlesyndication.com/pagead/js/adsbygoogle.js "></script> <!-- post --> <br /> <ins class="adsbygoogle" data-ad-client="ca-pub-8399132591850775" data-ad-format="auto" data-ad-slot="9760794781" style="display: block;"></ins><script> (adsbygoogle = window.adsbygoogle || []).push({}); </script> CLICK TO DOWNLOAD

Board of Studies Sub: Shifting from one Elective Paper to another Elective Paper under Revised Scheme of Education and Training. Students of Final (New) Course may please note that under the Revised Scheme of Education and Training, the students will be required to opt one of the following Electives papers and the examination of these Electives will be Open Book and Case Study based. 6A Risk Management 6B Financial Services & Capital Markets 6C International Taxation 6D Economic Laws 6E Global Financial Reporting Standards 6F Multidisciplinary Case Study The following modalities have been laid down by the Institute for these papers: At the time of registration to Final, the student has to select one Elective from the list of Electives mentioned above. He would get the relevant study material and other academic inputs on the basis of the Elective initially opted by her/him. At any time after registration up to and including the time of filling the e...

Applicable Material for Intermediate (IPC) and Final Courses – Old Scheme click to download

Announcement for May 2018 & November 2018 IIPCE Students of IIPCC, appearing in May 2018 and November 2018 examinations, may note that the new Study Material for Intermediate Paper 4: Taxation under the Revised Scheme of Education and Training is relevant for IIPCC Paper 4: Taxation as well, with the exception of the following topics in Section A: Income-tax Law discussed under the following headings - - “8. Tax Collection at Source – Basic Concept [Section 206C]” in pages 9.60 to 9.65 in Chapter 9 - “19. Self-Assessment” in page 10.28 in Chapter 10 Consequently, the summary of the above two topics forming part of “Let us recapitulate” at the end of these chapters is also not relevant for IIPCC Paper 4: Taxation. It may be noted that the content of Section A of the Study Material is based on the income-tax law as amended by the Finance Act, 2017. The relevant assessment year is A.Y.2018-19. The Study Guidelines, containing the list of topic-wise exclusions fr...

Framework  for  the  Preparation  and Presentation  of  Financial  Statements in  accordance  with  Indian Accounting  Standards click to download

CA Foundation Latest Updates for CPT  :- Common Proficiency Test (CPT) is the entry level course For Charted Accountancy course. So students who are have not completed graduation want to make their carrier in CA will have to very first apply for CPT registration by either filling the CPT registration form or applying CPT online registration for upcoming CPT  exams. BOS KNOWLEDGE PORTEL

CA Foundation Revised Course The Committee for Review of Education and Training (CRET) of the Institute of Chartered Accountants of India (ICAI) had formulated a New Proposed Scheme of Education and Training in lines with International Education Standards issued by International Federation of Accountants (IFAC) after considering the inputs from various stakeholders. To know more details about CA Foundation course click here. Click on the image to download the CA Foundation revised syllabus. The Revised Scheme of Education and Training for Chartered Accountancy course will come into effect from 1st July, 2017. If you have any query regarding CA Foundation course, you may ask the same through comment below or Click here to read some relevant FAQs on Revised Scheme of Education and Training for CA Course. ICAI has now provided the detail contents of CA Foundation course syllabus which has been sited below: Paper 1: Principles and Practice of Account...

Hi We are sharing with you the most wanted book in the present, GST Book 6th Edition by Pritam Mahure. The book was released on 11 September 2017 and contains all the latest GST rules and regulations. E-Book can be downloaded free from this link: GST E-Book This Ebook contains: GST vs the Current Indirect Tax Structure Why is GST a big deal? Time, Place, and Value of Supply Registering under GST GST Returns – How and When to File Them Mixed Supply and Composite Supply Composition Levy What is Aggregate Turnover Input Tax Credit in Detail Reverse Charge What is GST Compliance Rating? Impact of GST on Manufacturers and FMCG Industry This being a comprehensive compilation of all key GST related provisions, reader can easily perform word search in the document. click to download Regards CA Clues Team

21-year-old Surat lad becomes India's youngest to clear CA, CS, CMA   SURAT (GUJARAT): Surat's Aditya Jhawar has achieved all the three professional qualifications Chartered Accountancy (CA), Company Secretary (CS) and Company Secretary (CMA) at the age of 21, to become India's youngest to complete all the three professional qualifications. Till now Sarthak Ahuja and Pallavi Sachdeva, both of Delhi, were the youngest to complete CA, CS and CMA at the age of 23. But now with the passing of his CMA Final examination, results of which were declared day before yesterday, Jhawar has surpassed them and set the milestone of achieving this rare feat. After passing 12th standard, Jhawar started his higher studies with CA at the age of 15 and passed all its examination. He also started CS with it and qualified CS too along with CA. He then pursued CMA and qualified that too. Jhawar was trained by Surat's CA Ravi Chhawchharia. He pursued Bachelor of Commerce ...

10 Reasons to Use Your Credit Card  Personal finance experts spend a lot of energy trying to prevent us from using credit cards – and with good reason. Many of us abuse them and end up in debt. But contrary to popular belief, if you can use the plastic responsibly, you're actually much better off paying with a credit card than with a debit card and keeping cash transactions to a minimum. Let's examine why your trusty credit card comes out on top. 1. Signup Bonuses (aka Money for Nothing) There's nothing like a welcome-aboard perk. Applicants with good credit can get approved for credit cards that offer signup bonuses worth anywhere from $50 to $250 (and sometimes even more). Other cards thank newcomers by bestowing on them a large number of reward points that can be redeemed for fun stuff (more on those below). In contrast, a standard debit card that comes with a bank account offers zero money or very small rewards. 2. Rewards/Points Rewards are the ne plus ...

Black Money What is 'Black Money' Black money is money which is earned through any illegal activity controlled by country regulations. Black money proceeds are usually received in cash from underground economic activity and, as such, is not taxed. Recipients of black money must hide it, spend it only in the underground economy, or attempt to give it the appearance of legitimacy through money laundering. BREAKING DOWN 'Black Money' Possible sources of black money include drug trafficking, weapons trading, terrorism, prostitution, selling counterfeit or stolen goods and selling pirated versions of copyrighted items such as software and musical recordings. Black Money is also the name of a television series hosted by Lowell Bergman that explores the secret world of bribery in international business. Black Black is a description of a positive balance on a company's financial statements. A company would be said to be "in the black" if it...

Financial Crimes Enforcement Network - FinCEN A network administered by the United States Department of the Treasury whose goal it is to prevent and punish criminals and criminal networks that participate in money laundering. FinCEN operates domestically and internationally, and it consists of three major players: law-enforcement agencies, the regulatory community and the financial-services community. BREAKING DOWN 'Financial Crimes Enforcement Network - FinCEN' By researching mandatory disclosures imposed on financial institutions, FinCEN tracks suspicious persons, their assets and their activities to make sure that money laundering is not occurring. FinCEN tracks everything from very complicated electronically based transactions to simple smuggling operations that involve cash. As money laundering is such a complicated crime, FinCEN seeks to fight it by bringing diffe...

Currency Transaction Report - CTR A bank form used in the United States to help prevent money laundering. The form must be filled out by a bank representative who has a customer requesting to deposit or withdraw a currency transaction greater than $10,000. BREAKING DOWN 'Currency Transaction Report - CTR' The currency transaction report was initiated by the Bank Secrecy Act in 1970. However, not all transactions greater than $10,000 need to reported with a CTR. Recent legislation has identified certain groups known as "exempt persons". There are three categories of "exempt persons". They are: 1. Any bank in the United States. 2. Departments or agencies that fall under federal, state or local governments. Including any organizations that exercise government authority. 3. Any corporation whose stock is traded on the NYSE, Nasdaq and American Stock Exchange (excluding stocks listed on the Emerging Company Marketplace and under the Nasdaq Sm...

Financial Action Task Force (FATF) An intergovernmental organization that designs and promotes policies and standards to combat money laundering. Recommendations created by the Financial Action Task Force (FATF) target money laundering, terrorist financing, and other threats to the global financial system. The FATF was created in 1989 at the behest of the G7, and is headquartered In Paris. BREAKING DOWN 'Financial Action Task Force (FATF)' The rise of the global economy and international trade has increased both the wealth that ordinary citizens can acquire through commerce and the pressures countries face when it comes to fighting money laundering and other financial crimes. The Financial Action Task Force creates universally-applicable recommendations that are designed to ensure that all countries participating are treated equally. The organization monitors how its ...

USA Patriot Act The USA Patriot Act is a law passed shortly after the Sept. 11, 2001, terrorist attacks in the United States giving law enforcement agencies broad powers to investigate and indict and bring terrorists to justice. It also led to increased penalties for committing and supporting terrorist crimes. An acronym for “Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism,” this anti-terror measure was chiefly designed to lower the probable cause threshold for obtaining intelligence warrants against suspected spies, terrorists, and other enemies of the U.S. BREAKING DOWN 'USA Patriot Act' The USA Patriot Act deters and punishes terrorist attacks in the United States and abroad through enhanced law enforcement and strengthened money laundering prevention. It also allows the use of investigative tools designed for organized crime and drug trafficking prevention for terrorist investigations. For e...

What is 'Money Laundering' Money laundering is the process of creating the appearance that large amounts of money obtained from criminal activity, such as drug trafficking or terrorist activity, originated from a legitimate source. The money from the illicit activity is considered dirty, and the process "launders" the money to make it look clean. BREAKING DOWN 'Money Laundering' Illegally earned money needs laundering in order for criminal organization to use it effectively. Dealing in large amounts of illegal cash is inefficient and dangerous. The criminals need a way to deposit the money in financial institutions, yet they can only do so if the money appears to come from legitimate sources. There are three steps involved in the process of laundering money: placement, layering and integration. Placement refers to the act of introducing "dirty money" (money obtained through illegitimate, criminal means) into the financial system in ...

GST Registration | Online GST Registration Process in India All you need to know about GST Registration process in India. Read about GST rules, forms, documents & procedure required for GST Registration online etc. Check Step by Step guide for  GST Online Registration . All you need to know about GST New Registration Procedure 2017, Find Complete procedure for Online GST Registration in India. Summary of Procedures and Documents required for registration on GST Portal by the State VAT Dealers. Check Registration Procedure Under GST. Registration of Existing Tax Payers at New GST Portal with Screenshots. Check all details for “GST Registration – Procedure, Rules, Forms, Documents Required” Registration of any business entity under the GST Law implies obtaining a unique number from the concerned tax authorities for the purpose of collecting tax on behalf of the government and to avail Input Tax Credit for the taxes on his inward supplies. Without regis...