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CA Exams May 2016 IPCC and Final Amendments Applicable

CA Exams May 2016 IPCC and Final Amendments Applicable  Are Now Available to Download. Students Who Are Preparing for CA Exams May 2016 Exams Are Requested to Download the Latest Amendments Applicable for the said examination.

CA Exams May 2016 IPCC and Final Amendments Applicable:

Chartered Accountancy Intermediate and Final Examinations Held Twice a year in the month of november and may. CA Intermediate Amendments Applicable for May 2016 Examinations Subject and Chapeter Wise are Shown Below. CA Final Examinations Amendments Applicable for May 2016 Examinations Are Also Been Disclosed Below. Easy Navigated Subject Wise.

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CA IPCC May 2016 Amendments:

Chartered Accountancy Intermediate Amendments Applicable for CA Exams May 2016 Have Been Disclosed below For Every subject and Chapters. See these Below.

CA IPCC Accounts Amendments May 2016:

(i) Companies Act, 2013

The relevant Sections of the Companies Act, 2013 notified up to 31st March, 2015 will be applicable for Nov., 2015 Examination.

(ii) Dividend Distribution Tax

(a) With effect from 1st Oct, 2014 dividend and income distribution tax is leviable on gross dividend / income and not on the net dividend / income distributed to shareholders and unit holders as per Income- tax Act, 1961.

(b) The rate of DDT is fifteen per cent (excluding surcharge of 12% plus secondary and higher education cess is (2+1) 3%).

(iii) Financial Statements of Companies
  • Meaning of company
  • Books of accounts to be maintained at registered office.
  • List of statuary books to be maintained.
  • Annual Return of company
  • Schedule III of companies Act, 2013
  • Managerial remuneration
  • Dividend

CA IPCC Law Amendments May 2016:

Additional Sections in Companies Act 2013 has been Added to the Syllabus Notified by MCA. For Now 1 to 122 Sections are Applicable of Latest Co. Act 2013.

We Suggest you to Buy a Latest Book For Inter Law Examination.

Check best Book Suggested For CA IPCC by ICAI

CA IPCC Costing FM Amendments May 2016:

There is No Change in CA Inter Costing Examinations for May 2016 Exams.

CA IPCC Taxation Amendments May 2016:

  • Cost Inflation Index for the financial year 2014-15 as 1024
  • Increase in ceiling limit for investment in Public Provident Fund – Central Government has increased annual ceiling limit for deposit in PPF A/c from Rs. 1 lakh to Rs 1.50 lakhs
  • Deposit in ‘Sukanya Samriddhi Account’ eligible for deduction under section 80C(2)(viii) [Notification No. 9/2015, dated 21-1-2015] – Section 80C provides for deduction from gross total income in respect of sums paid and investments made through specified modes like life insurance premia, Public Provident Fund etc. Under clause (viii) of section 80C(2), deduction is available in respect of sums paid or deposited in the previous year by the assessee as subscription to any such deposit scheme as may be notified by the Central Government.
  • Services provided by the members of the Joint Venture (JV) to the JV and vice versa or between the members of the JV: In accordance with Explanation 3(a) of the definition of service under section 65B(44) of the Finance Act, 1994, JV (an unincorporated temporary association constituted for the limited purpose of carrying out a specified project) and the members of the JV are treated as distinct persons and therefore, taxable services provided for consideration, by the JV to its members or vice versa and between the members of the JV are taxable

Life insurance provided under Varishtha Pension Bima Yojna, Pradhan Mantri Jeevan Jyoti Bima Yojna and Pradhan Mantri Jan Dhan Yojna exempted

Entry 26A exempts services of life insurance business provided under specified schemes. Clauses (d), (e) and (f) have been inserted in the said entry to exempt services of life insurance business provided in respect of the following additional schemes:

Clause (d) –  Varishtha Pension Bima Yojna – [Effective from 01.04.2015]

Clause (e) –  Pradhan Mantri Jeevan Jyoti Bima Yojna – [Effective from 30.04.2015 vide Notification No. 12/2015 ST dated 30.04.2015]

Clause (f) –  Pradhan Mantri Jan Dhan Yojna – [Effective from 30.04.2015 vide Notification No. 12/2015 ST dated 30.04.2015]

CA IPCC Advanced Accounting Amendments May 2016:

Modification in the Syllabus of Intermediate (IPC) Paper 5: Advanced Accounting and applicability of the same for November, 2015 Examination and onwards. – (30-05-2015)

The topic of “Financial Reporting of Electricity Companies” would be excluded from the syllabus of Intermediate (IPC) Paper 5 : Advanced Accounting and the same would not be applicable from November, 2015 Examination and onwards.

CA IPCC Auditing Amendments May 2016:

Download : CA Exams may 2016 IPCC Auditing Amendments

CA IPCC ITSM Amendments May 2016:

CA Exams May 2016 Inter ITSM Amendments : There Is No Change in ITSM But Will Inform As Soon As We Receive RTP From the ICAI and Will Update this Page and For Now you Can Just BookMark it by using (CTRL+D) of your Web Browser.

So Thats All for CA IPCC Amendments Applicable for CA Exams May 2016. Below you Will See Amendments for Final Examinations.

CA Final May 2016 Amendments:

CA Exams May 2016 Amendments Applicable for CA Final Exams. Starting With FR Financial Reporting We Continue to Go Further With Every Subject. Kindly Share.

CA Final Financial Reporting Amendments May 2016:

Non-application of AS 30, AS 31 and AS 32 in CA Final

The entire IAS 39 “Financial Instruments: Recognition and Measurement”, on which AS 30 “Financial Instruments: Recognition and Measurement” was based, has been replaced by IFRS 9 “Financial Instruments”. Therefore, the Government of India opted to notify Ind AS 109 “Financial Instruments” in correspondence to IFRS 9 and not IAS 39. Also, AS 30, AS 31 and AS 32 on ‘Financial Instruments’ were earlier proposed to be made mandatory for Level I entities only. However, after notification of Ind AS in February, 2015, these entities will be applying the provisions stated in Ind AS 32, Ind AS 107 and Ind AS 109 and not AS 30, AS 31 and AS 32 for accounting of financial instruments. Therefore, it is felt appropriate to make applicable Ind AS 32, Ind AS 107 and Ind AS 109 in place of AS 30, AS 31 and AS 32 to the topic ‘Accounting for Financial Instruments’.


Click Here to Check Official Notification By ICAI

CA Final Direct Tax Amendments May 2016:

CA Final Direct Tax Amendments For May 2016 and Nov 2016
No. Topic Amendments
1 Basic concepts Download
2 Residence and scope of total income Download
3 Incomes which do not form part of total income Download
4 Profits and gains of business or profession Download
5 Capital gains Download
6 Deductions from gross total income Download
7 Assessment of various entities Download
8 Transfer pricing and other provisions to check avoidance of tax Download
9 Assessment procedure Download
10 Settlement commission Download
11 Advance rulings Download
12 Appeals & revision Download
13 Penalties Download
14 Miscellaneous provisions Download
15 Deduction, collection & recovery of tax Download
16 CA Final direct tax amendments at a glance Download

CA Final Indirect Tax Amendments May 2016:

Click below links to download CA Exams May 2016 CA Final Indirect tax amendments and supplementary study paper relevant for May 2016 and Nov 2016 exams.

CA Final Indirect Tax Amendments For May 2016 and Nov 2016
No. Topic Amendments
1 Central excise duty basic concepts Download
2 Valuation of excisable goods Download
3 Cenvat credit Download
4 General procedures under central excise Download
5 Demand adjudication and offences Download
6 Notifications Departmental clarifications and trade notices Download
7 Advance ruling Download
8 Settlement commission Download
9 Basic concepts of service tax Download
10 Place of provision of service Download
11 Valuation of taxable service Download
12 Exemptions and abatements Download
13 Service tax procedures Download
14 Demand, adjudication and offences Download
15 Other provisions Download
16 Types of duty Download
17 Demand and appeals Download
18 Duty drawback Download
19 Provisions relating to illegal import, illegal export, confiscation, Penalty & allied provisions Download
20 Settlement commission Download
21 Advance ruling Download
22 Foreign trade policy Download
23 CA Final Indirect Tax Amendments at a Glance Download

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