Life is a journey and one must feel the energy and determination flowing through him in order to achieve big goals. You must always dream. Anticipation combined with determination makes happen the best outcome. The horizon is wide and clear and blue and you are ready to fly.

Never let your mind trick in to giving up when the newness of an idea wears off. You must be clear, either you want to be completely enjoying your new dream or you don’t want to do it. You must train your mind to appreciate small accomplishments and to be satisfied with slower but steadier progress.

You have to be positive and motivated on a regular basis. Instead of constantly worrying about the future fears, set aside some time to envision a new life. Imagine  with all your senses the clear future life. All activities you do on everyday basis must take you closer to your dream. You must always dream big because this will fuel you to move further in the direction of your goal clearly and positively. Allow such excitement to motivate you  so that you are focused on your goal.

Never underestimate your potential. You have the best mind and body to perform the best. Be it CA examination which has low success rate. You can always clear  the exam if you have decided to put your best efforts. May be you are a repeater in CA exam but believe me with the heroic efforts, you can become a Messie in your field. Time is with you. Play your best game.

All the best.

Website – CA Learning

Toll Free Number – 1800 120 0560


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Dear Student,

In an examination, where around 15% students succeed every six months, it has been noticed that the students in CA Final exam are directly linked to FIVE VITAL SKILLS which are not considered relevant by the examinees. As per our study, 60% of the students do not consider under mentioned skills supportive in the exam preparation:

  • Ability to grasp the requirement stated in the ICAI exam questions
  • Revisionary skills required before and during exam
  • Writing skills in the examination condition according to the ICAI requirements
  • Updated knowledge in each subject
  • Time Management Planning & Implementation in the exam hall


In order to cater, the above requirement of the examinees, CA Learning has brought “Model Test Paper Series” which can be conducted in the proper exam condition. The unique features of the above scheme are:

  1. It will be available in a set of 2 papers each subject at ₹ 1000/- which will be evaluated by the experts. At the group level, it may be offered in a set of 2 papers for each of the four subjects (eight subjects in all) at ₹ 3500/-
  2. As part of the above package free online/telephonic mentoring will be provided by the seasoned experts on an appointment basis. Test paper Answer can be received or sent by scanning and courier also


Our services are open for all the CA Final Candidates in India from 1st September 2016.

Hope you will benefit from these sessions and come out with flying colours in CA Final exam stated in November, 2016.

Want to know more call 1800 1200 560 or visit

Why you should innovate in CA Exam preparation if you are a Repeater ?

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Historically it is proven that CA final exam has a low success rate pegged between ten to fifteen percent Every six months a student has to demonstrate his ability to pass CA final examination or else he falls in the repeater class. Hope none of the candidate wishes to be in the repeater list.

In order to be successful, you have to be innovative. This means that you have to change the learning methodology. You can’t read same material again and again. You have to also write each chapter in pen and paper. In fact your forty percent time must be devoted in to writing only on an everyday basis. It is mandatory because you don’t pass because of   reading skills   but because you develop a good writing and presentation skill.

Ultimately you have to appeal the examiner. Therefore, you have to solve  a minimum three model paper in each subject in the examination condition without fail and figure out the areas of improvement.

The basic innovation which is  required  is  the revision  and  writing skills. Revision can happen quickly when a student develop a decision tree approach in making a smart summary. A student must also summarize all formulae at one place. Skills of attempting case study must be properly learnt in all the legal papers whether it is company law, direct tax and indirect tax.

Innovation is the only way which can make you successful. You can pass the November 2015 . CALS-50 has the solution.

If you want to be part of the success story, you may register on

To know more – CA Learning

Toll Free Number – 1800 120 0560




You can only pass in CA examination when you develop proper writing skills and an effective presentation under ICAI exam condition. This does not mean that you should not study video  or attend classes. You have to complement the learning with the assessment.

ICAI exam is based on accuracy and speed. The lengthy paper which requires to be done in three hours can only be attempted correctly when a student develop writing skills under an examination condition.

A student has to work like an athlete who is working for an Olympic. Like an athlete, he must endeavour constant practice by the way of  developing writing skills. Remember always there is always scope of improvement in a game. Likewise writing skill and an effective presentation allows you to develop the skill to clear the CA exam.

Besides, numerical in the course, one should write the theoretical questions in the practice session. Both theory and practical subjects are equally important. One should know whether he is making correct working notes to the numerical.

Also he must realize that same answer can’t be given for the short notes and elaborate type questions. The method of writing is not same for discuss type question and elaborate type questions.

Hence it is advisable to work on the writing skills. The writing skill pays in the real examination. It is very useful to start working on the writing skills in the beginning.


To know more –

Toll Free Number – 1800 120 0560


Obtain Answer Sheet without making any Payment – Supreme Court


The Supreme Court has asked the Central Board of Secondary Education (CBSE) to “scrupulously” follow its 2011 judgement that it is a student’s “fundamental and legitimate right” to access his answer sheets under the Right to Information Act.

The recent order by a Bench led by Justice Ranjan Gogoi came on a plea by two students, Kumar Shanu from Noida and Paras Jain from Delhi, seeking the court’s permission to initiate contempt proceedings against the Board for charging ₹700 per copy of an answer sheet.

Over and above this, students are compulsorily required to go through the process of verification of marks for which they have to pay another ₹300 as fee. Only then, would they be eligible to apply for a copy of their answer sheets.

In short, they contended that a student ends up coughing up ₹1,000 to the CBSE to obtain physical copy of his answer sheets. The information came out in a reply from the CBSE to an RTI application made by the petitioners.

The petitioners contended that the CBSE was levying these charges when the RTI Act had intended students to access sheets, which qualify as ‘information’, for ₹2 a page along with ₹10 for the RTI application. It had argued that students falling under the Below Poverty Line category were guaranteed free access to their sheets under the law.

“It is ironical and astonishing that the CBSE, being an educational institution responsible for educating a large section of the society, is blatantly flouting the law laid down by the Supreme Court,” the petition said.


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Toll Free Number – 1800 120 0560

INCOME DECLARATION SCHEME, 2016 – Golden Opportunity for Tax Evaders



Our hon’ble Finance Minister Mr. Arun Jaitley, in his Union Budget for the year 2016-17, came with a new scheme to deal firmly with the Tax Evaders. The scheme was named as “Income Declaration Scheme 2016” incorporated as Chapter IX of the Finance Act 2016 will be effective from 01st June 2016.


This is the One-time opportunity or a limited period compliance window for all the taxpayers to come forward and declare all of their undisclosed income pertaining to financial year 2015-16 or earlier years and clean up their past tax violations by paying more than the Normal Tax.

The salient features of Income Declaration Scheme 2016 are as follows:

  • Declaration can be made in respect of any Income in the form of assets or otherwise which have not been declared, intentionally or unintentionally in the past years.
  • Tax shall be payable @45% of the undisclosed income comprises of normal tax @30%, surcharge @7.5% and penalty @7.5%.
  • Income can be declared from 01st June 2016 to 30th September 2016 and taxes can be paid by 30th November 2016.
  • No Scrutiny or Enquiry or Prosecutions shall be made in respect of such declarations under Income Tax Act & Wealth Tax Act. Also the assessee will get immunity from Benami Transactions (Prohibition) Act, 1988 (subject to certain conditions).
  • The declaration shall be made in FORM 1 which has been duly notified. The form can be filed online at or offline to Jurisdictional officer of Income Tax.
  • No declaration can be made in case a notice u/s 142, 143(2), 148, 153A, 153C of IT Act has been issued or search u/s 132 has been conducted or survey u/s 133A has been carried out or cases covered under Black Money (Undisclosed Foreign Income & Assets) and Imposition of Tax Act, 2015.

IDS, 2016 is definitely proved to be a beneficial scheme for the eligible tax payers to declare the undisclosed income as compared to various sections viz.271, 276C 270A of the I.T. Act, 2016 or various income declaration schemes announced for taxpayers to declare unaccounted money during the past decades.

This time, our Government is leaving no stones unturned in making a Income Declaration Scheme 2016, a success. Also, our Prime Minister Narendra Modi, in his very famous Radio Programme “Mann ki Baat”, said that “We lose our peace by violating rules. Why we should not give correct information about our income and assets to the government and get free from it?”


Contributed by CA Garima Goyal

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GST – Goods and Service Tax is one indirect tax for the whole country aiming to make the country as one unified market. It is a single tax on supply of goods and services right from the manufacturer and consumer. Credit of the input taxes paid at each stage  will be made available in the subsequent stage of the value addition. The final consumer will hence bear only the GST charged by the last dealer in the supply chain, with offsets benefit at all the previous stages.

The benefits for the business and industry is huge because the compliance is easy where IT based online system will make the system transparent. Further the uniformity of indirect tax rates and structure across the country is a boon. Being tax neutral in the country will help to promote the business from any place in the country. Also the cascading effect of the taxation will go away which allows hidden cost of tax to go away.  Businesses and services will become more competitive.

If one looks from the perspective of the central and state government , easy administration  will reduce the cost of the government. It will promotes flexibility and transparency in the business conduct. There will be better control on the lekages of the input credit tax.  GST will reduce the cost of collecting the revenue and will ensure efficiency in the collection mechanism.

The  taxes which will be replaced and again come as single taxes from the Central Government   are :

  • Central sales tax (b) Additional excise duty (c) Service Tax (d) Countervailing duty  (e) Special additional duty of Customs .

At  the state level the following taxes will be subsumed :

  • VAT/ Sales Tax (b) Entertainment Tax (c) Purchase Tax (d) Luxury Tax (e) Taxes on lottery

GST will be administered in India  in two fold (a)  central GST and (b) State GST . Both GST will be levied simultaneously on every transaction of supply of goods and services  except on the exempted goods and services, goods which are outside the purview  of GST and certain transactions which are below the prescribed threshold limit.

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The Central Government was empowered by the Income Tax Act 1961 (‘the Act’) under section 145(2) to notify in the Official gazette the various Accounting standards to be followed for computing the Income under the head “Profits & gains of Business or Profession” or “Income from Other Sources”. The objective of framing these standards under Income Tax Act is to compute Income precisely and objectively.

Accordingly, in 1996 two tax Accounting Standards relating to ‘Disclosure of Accounting Policies’ and ‘Disclosure of prior period and extraordinary items and Change in accounting policies were notified by the Central Government.

In March 2015, after prolonged discussions, dialogues and debates over the issue of notification of Accounting Standards and its harmonization with Income Tax Laws, CBDT vide notification no. 33/2015 dated 31-03-2015 has notified 10 Income Computation and Disclosure Standards (ICDS) effective from 01-04-2015, applicable from Assessment year 2016-17 onwards. Following are the ICDS:

  • ICDS-I            Accounting Policies                 AS-1
  • ICDS-II           Valuation of Inventories       AS-2
  • ICDS-III         Construction Contracts         AS-7
  • ICDS-IV          Revenue Recognition            AS-9
  • ICDS-V           Tangible Fixed Assets            AS-10
  • ICDS-VI          The Effect of Changes in      AS-11  Foreign Exchange Rates
  • ICDS-VII        Government Grants               AS-12
  • ICDS-VIII       Securities                                  AS-13
  • ICDS-IX          Borrowing Cost                       AS-16
  • ICDS-X           Provisions, Contingent         AS-29

Liabilities and Contingent Assets

ICDS applies to all tax payers following mercantile system of accounting. The non-compliance of ICDS may result into best judgement assessment and exposure to penalties.

It is beyond doubt that these standards will significantly change the way companies compute their taxable Income from assessment year 2016-17 i.e. first year of its implementation. How the Income Tax Authorities and specially those at lower part of the echelon will take this will be crucial and hope the bedrock principles – ‘reduction of litigation’ and ‘certainty to issues’ adhered at the time of drafting will also be kept in mind equally at its implementation and application.


Contributed by CA Garima Goyal

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