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CA Final Law is one of the dynamic subjects of the Chartered Accountancy course. This subject is divided into two parts, namely, Part 1: Corporate Laws for 70 marks & Part 2: Economic Laws for 30 marks. Part I: Corporate Law comprises of the law and procedures under the Companies Act, 2013 and the Securities Laws covering significant provisions of Securities Contract (Regulation) Act, 1956 read with the Securities Contract (Regulation) Rules, 1957 and the Securities Exchange Board of India Act, 1992 read with SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. Part II: Economic Laws comprises of significant provisions of select economic laws namely, the Foreign Exchange Management Act, 1999, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Prevention of Money Laundering Act, 2002, the Foreign Contribution Regulation Act, 2010, the Insolvency and Bankruptcy Code, 2016 and the Arbitration and Conciliation Act, 1996. Tips & Tricks:  Proper Presentation of Answers & Case Laws: Writing correct answer is not sufficient to gain marks in CA papers. Besides writing the correct answer you have to present it properly. The answer must be given in a sequence as demanded by ICAI. Not only answer but...

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The new CA Final syllabus has a new introduction of an optional paper where students can choose one from six available options. The examination is designed to be an open bookcase study examination. If you have chosen Risk management (Paper 6A) as your optional subject in CA Final and are looking for a Guide to Prepare for CA Final Risk Management, this article is just for you. The Risk Management paper in CA Final examination is built around applying risk scenarios to business. Many modules in this paper are from the post-qualification courses in insurance and risk management offered by ICAI. The subject is close to Auditing, Strategic Financial Management, and Actuaries, Quantitative Methods, Corporate Governance and various Risk models. It is essentially an extension of the assurance subject. Paper 6B in CA Final is Financial Services & Capital Markets, one of the electives/optional subjects for you to choose from a plethora of others.Being a concept-oriented paper, FSCM is touted as a favorite among electives due to some advantages. It is high scoring and is considered a great add-on for aspirants looking for a career in investment banking, equity research, and stock markets. This elective is also reckoned as putting CA aspirants on the same level as MBA...

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Strategic Financial Management has been increasingly gaining importance in the CA Final Curriculum and is expected to trend as one of the more challenging papers in times to come. Some of the important pointers to approach the subject from the conceptual and examination point of view have been discussed below, however, over the years institute has been focusing on high level of conceptual clarity and ability to solve practical questions in a very tight time frame. This requires oneself to practice each topic thoroughly with an ability to apply the same in real life situations. From the examination perspective almost equal weightage is given to all the topics. Further, an all-round understanding of the subject helps in solving questions with interrelated concepts.  Tips & Tricks: The institute provides very good quality study material and one should not ignore the same, it is comprehensive as well as exhaustive. CA Final SFM Important Resources by ICAI - Suggested Q&A || Study Material Pen On Paper - Written practice is a Must ! This is one of the most important and often ignored aspects of your preparation for CA Final Exams. The subject requires an in-depth application of mathematics and statistics and hence it goes without saying that...

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POSTPONEMENT OF CHARTERED ACCOUNTANT EXAMINATIONS, MAY 2020 In continuation to the Important Announcement dated 27th March, 2020, it is hereby notified for general information that in view of the ongoing spurt of the COVID-19 pandemic and in the interest of the wellbeing of students, the Chartered Accountant Examinations scheduled from 19th June 2020 to 4 th July, 2020* stand rescheduled and the said examinations shall now be held from 29 th July 2020 to 16th August, 2020 as per details given below :Check out the Official Notification - Click Here

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Allowing provisional registration in the Foundation Course of Institute of Chartered Accountants of India (ICAI) for students who have been allotted either admit card and/or appeared in one or more papers of Class XII examinations Due to the outbreak of the COVID -19 pandemic, the CBSE/ICSE/State Boards have postponed Class 12th Board examinations that were to be held from 19th March 2020 and onwards.In view of above, such candidates who are not able to register themselves in the Foundation due to non-appearance in all papers of class 12th Examination, the Competent Authority has decided to relax the eligibility criteria for registering in Foundation Course, as a one-time measure, which is as under:-Candidate may provisionally register in the Foundation Course on or before 30th June 2020 if he has been either allotted the admit card and/or appeared in one or more papers in the months of February/March 2020 in the Senior Secondary (10+2) Examination conducted by an examining body constituted by law in India or an examination recognised by the Central Government or the State Government as equivalent thereto for the purpose of admission to graduation course and; appear in November 2020 Foundation examination after passing the Senior Secondary (10+2) examination...

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Usually, the seller collects GST from Buyers and pays it to the government. However, in some cases buyers pay GST directly to the government. This is called a reverse charge on GST. There are two sorts of reverse charge scenarios provided in law. The first scenario is dependent on the nature of the supply and/or nature of the supplier. The first scenario includes section 9 (3) of the CGST/SGST (UTGST) Act and section 5 (3) of the IGST Act. The Second scenario includes section 9 (4) of the CGST/SGST (UTGST) Act and section 5 (4) of the IGST Act where taxable supplies by any unregistered person to a registered person is covered. According to the provisions of section 9(3) of CGST / SGST (UTGST) Act, 2017 / section 5(3) of IGST Act, 2017, the Government may, on the recommendations of the Council, with notification, specify categories of supply of goods or services or both, the tax on which shall be paid on reverse charge basis by the recipient of such goods or services. Like-wise, section 9(4) of CGST / SGST (UTGST) Act, 2017 / section 5(4) of IGST Act, 2017 provides that the tax in respect of the supply of...

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After the declaration of Result, there are a few happy faces of candidates who’ve managed to clear the exams. Their hard work has been rewarded and they are all charged up for a good career ahead. On the other hand some are not happy with their results. Here I am listing Reasons For Failure Of CA Students In Exams.

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Bounce Back The Secret to Guaranteed Success – Positive approach If you fail an exam you will obviously be disappointed. The fundamental issue is what you do about it. If you are not careful you will become negative and try to ignore the result.

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Financial literacy is the ability to understand how money works in the world: how someone manages to earn or make it, how that person manages it, how he/she invests it (turn it into more) and how that person donates it to help others. More specifically, it refers to the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.Financial Education is important because the health and strength of entire nations depend on the financial literacy of every individual. When people know how to make sound decisions about their personal finances, their strong financial behavior leads to financially secure lives. The fewer people who make bad decisions about their personal finances, the stronger the society will become. Instead of asking why financial education is important, perhaps we should be asking how to impart a strong personal finance education to every citizen to reap the full benefits of a financial education. When every person is financially secure, the nation will be financially secure. Impoves Lifelong Financial Behaivour Although the financial consequences of being financially illiterate are well known in certain circles, others may ask, “Why is financial education important?” Does financial education really...

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RBI The RBI (Reserve Bank of India) is the apex financial institution of the country’s financial system entrusted with the task of control, supervision, promotion, development, and planning. RBI is the queen bee of the Indian financial system which influences the commercial banks’ management in more than one way. The RBI influences the management of commercial banks through its various policies, directions, and regulations. Its role in bank management is quite unique. In fact, the RBI performs the four basic functions of management, viz., planning, organizing, directing and controlling in laying a strong foundation for the functioning of commercial banks.  In 1921, the Imperial Bank of India was established to perform as the central bank of India by the British Government. But unfortunately, Imperial Bank failed to show its performance up to the mark and didn’t achieve any success as the Central Bank. Then the Government asked the Hilton Young Commission in 1925 to view on this subject. The commission submitted their reports saying that one single organization can’t be able to act as two separate agencies (both credit and currency control). So, it’s required to set up a brand new central bank. In 1st April 1935, Reserve Bank of India...

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Small Scale Industries Small scale industries (SSI) are those industries in which manufacturing, providing services, productions are done on a small scale or micro scale. For example, these are the ideas of Small scale industries: Napkins, tissues, chocolates, toothpick, water bottles, small toys, papers, pens. Small scale industries play an important role in social and economic development of India. These industries do a one-time investment in machinery, plants, and industries which could be on an ownership basis, hire purchase or lease basis. But it does not exceed Rs. 1 Crore. Let us discuss in detail about it. Essentially small scale industries comprise of small enterprises who manufacture goods or services with the help of relatively smaller machines and a few workers and employees. Basically, the enterprise must fall under the guidelines set by the Government of India. At the time being such limits are as follows, For Manufacturing Units for Goods: Investment in plant and machinery must be between 25 lakhs and five crores. For Service Providers: Investment in machinery must be between 10 lakhs and two crores. In developing countries like India, these small scale industries are the lifeline of the economy. These are generally labour-intensive industries, so they create much employment. They also help with per capita income and resource utilization in the economy. They are a...

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Ever since GST or Goods and Services Tax regime was announced, there has been a wide speculation about the GST rates bracket. The GST Council is the body that decides the rate slabs and the GST Council has been periodically revising the list of goods and services for each rate slab. It’s clear that the Government’s intentions are to have lower tax rate for goods and services which are essential needs and higher tax rates for goods and services that are considered as luxury supplies. Various GST Tax Slabs in India 2020 In India, there are 4 types of GST rates: GST Tax Slab of 5% Under this slab, the goods of basic amenities are covered such as sugar, oil, spices, coffee, coal, fertilizers, tea, ayurvedic medicines, agarbatti, sliced dry mango, cashew nuts, sweets, handmade carpets, lifeboats, fish fillet, unbranded namkeen, and life-saving drugs are covered. The services under this slab include railways, airways, takeaway food, AC and Non-AC restaurants, hotel rooms with a tariff less than Rs. 7,500, and special flights for pilgrims. GST Tax Slab of 12% Under this slab, products like cell phones, sewing machine, umbrella, jewelry box, along with processed foods like frozen meat, fruit juices,...

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