Friday, 31 July 2015

What are some good short term courses for a qualified Chartered Accountant in India?

There are a number of courses offered by ICAI. Two of the most popular are DISA (Diploma in Information System Auditing) and Certificate Course on International Taxation. These aren't online courses, but are short post qualification courses that aim towards improving your knowledge on certain specialized subjects. DISA is a mandatory requirement at the time of applying for bank audits for a number of nationalized banks in India.

A list of post qualification courses currently offered by the Institute is:


The following links from the ICAI website may also be of relevance to you.

In case you wish to pursue short term courses other than those offered by ICAI, I would suggest going through the courses listed on coursera.com. You may find a number of online courses of interest and will also receive certificates of completion of the courses the foreign university administering the course. Hope this helps.

Thursday, 30 July 2015

Can I get another copy of my PAN card issued if I have lost the original one?

Of course you can. You can in fact choose to either apply online or by submitting a filled hard copy of the Form.

All guidelines on filling the form are available on the Tax department's website here: Guidelines for filling PAN Change Request Application

Note that the form for getting corrections in PAN data or applying to receive a PAN "card" in case of a lost card is the same.

Wednesday, 29 July 2015

What information do I require to file my Income Tax Return on my own?

Basic information and documents you need to file your Income Tax Return:

1. PAN and User ID, Password for the e-Filing Home Page, Income Tax Department. In case you don't already have a password, please register on the website with your details first.
2. Bank Statements for the relevant financial year
2. TDS Certificates given by your employer in Form 16 or others in Form 16A
3. Details of other incomes that you may have earned during the year such as rental income from house property, capital gains on sale of property, etc.
4. Details of payments eligible for deduction such as life insurance premium paid, medical insurance premium paid, house tax receipt, donation receipts, etc.

You can download the template of the Excel utility of the relevant Income Tax Form from the Income Tax Department's website as linked above and fill in all the information in it.

This year, you are also required to fill in details of all bank accounts in your name and even your Aadhaar and Passport numbers.

Tuesday, 28 July 2015

CA IPC May, 2015 Results

The Results for CA IPC Examination held in May, 2015 are likely to be declared on 31st July, 2015.

The result can be accessed here.


Which books to study ISCA from for CA Final exams?

Nothing beats the Institute's Practice Manuals after a thorough reading of the Study Material. However, I did use Mr. Dinesh Madan's book for reference and it is very well presented. But the Practice Manual is your Bible for this paper.

I made my notes during my preparations which helped me revise all the pointers after having completed the course. I would suggest doing so too.

Monday, 27 July 2015

Why don't Doctors and Advocates pay Service Tax in India?

As per Notification No. 25/2012-ST dated 20th June, 2012, the following services, among many others, have been exempted from levy of Service Tax:

1. Health care services by a clinical establishment, an authorised medical practitioner or  para-medics.

2. Services provided by an individual as an advocate or a partnership firm of advocates by way of   legal services to any person other than a business entity or a business entity with a turnover up to rupees ten lakh in the preceding financial  year.

Hope this answers your question.

You can refer to the notification here.

How can I remember case laws for Taxation in CA Final?

I remember not fussing too much over remembering a lot of case laws for my CA Final exams. Knowing the details of the case and the judgment mattered much more.

However, you should try and learn some of the important case laws, especially landmark judgments and case laws referred to in the Revisionary Test Papers (RTP's). I used to use some basic techniques like associating the names of the plaintiff or defendant with a mental image of what that person looked like and then imagined him go through the whole proceedings of the case as if it were a scene from a movie.

In tax laws, you just need to remember the name of the assessee. The other party is almost always the Revenue Authority. I used to associate the name of the assessee with some key word from the case law. For example, if it were a case on application of Rule 8D, and the assessee's name was "Reliance Industries Ltd." (hypothetical example), I would imagine Mr. Mukesh Ambani as a young student of Class 8D.

Simple associations like these always helped. They also added a little humor to the learning process. Hope this helps you too.

Sunday, 26 July 2015

How would Internal Audit for an IT Company be different from that of a Manufacturing Company?

Internal Audit is an audit of a company's financial records as per the scope defined by the Management, so primarily the area of checking will be defined by the Board of Directors or the Finance Managers. However, here's an attempt to give you a basic framework on how it would be different from the audit of a manufacturing company.

Applicable Tax Laws: Excise is a tax on manufacture of goods. As an IT company may not be producing tangible goods, Excise may not be applicable. However, Service Tax laws will be applicable as primary revenue for such concerns is through providing services and not goods. Sales Tax or VAT may be applicable in case they have some softwares which are sold off-the-shelf and are not customized as per clients need.

Other relevant aspects to check would include, but will not be limited to:
- Servicing Bills, Service Tax, CENVAT records, other incomes
- Salaries, PF, Attendance records, Staff Welfare, Directors' Remunerations, Payment to outsourced staff on retainership basis
- Foreign currency translation matters, foreign remittance compliances
- Withholding taxes, Service tax under reverse charge mechanism
- Royalty or patents, if any
- TDS compliance on salary, professional charges, commission, contractual payments, etc.
- Related party transactions from the point of view of transfer pricing as well as the Companies Act, 2013
- Sources of finance, their repayments, working capital requirements, long term borrowings
- Depreciation on assets, physical verification of fixed assets
- Dividend payments
- Corporate law compliance

Saturday, 25 July 2015

I'm a CA. Which company should I apply to for a job where I will be trained to become a future leader?

I find this question a little difficult to answer because it is not an easy task to identify companies which would train you to become a future leader. The reason one cannot make a list of such companies is because it is over-idealistic to expect a company to do the job of a management trainer and polish you for top management position, when your career path will depend mostly on your own decisions, skills and abilities, irrespective of the level of company you may start with.

A number of companies may tell you that they recruit people who they see leadership potential in, and that employee growth is as important for them as it is for the employees. However, the ability for one to grow and take up higher managerial positions depends primarily on one's own performance at work.

You can learn a lot about management even by working as a Paid Assistant at a mid-sized CA firm where your responsibilities will grow slowly and steadily and you will be required to manage your teams, administer their work, etc. I would suggest that you look for work that excites you and a profile that you may feel passionate about. Once you're in it, you will automatically grow because of your performance and efforts.



Try to identify the work profile that will be of most interest to you and then dive into it with all your might. I'm sure this will help you more than any other company which you may join with the expectation that they will turn you into a top level manager.

Friday, 24 July 2015

I flunked CPT. Should I take it again? Which books should I refer to?

If you really want to become a CA, you totally should. Don't let just one failure tell you that you can't do it. The Institute's Study Material is the best. You could also refer to Taxmann's Question Bank for CPT after you're done with the Study Material.

Thursday, 23 July 2015

Is it better to become a Chartered Accountant or a Corporate Lawyer?


How can one compare apples and oranges! However, I'd like to offer some perspective on the basis of which you may take a decision.

The CA curriculum focuses on imparting an in-depth knowledge of subjects such as Direct Taxation, Indirect Taxation, Company Law, Financial Accounting, Management Accounting and Auditing. Needless to say, the course content is extremely exhaustive and tries to cover every subject in the most comprehensive manner.


A Chartered Accountant, however, after having studied all of these subjects, may choose to practice or specialize in just one or two of them. He may decide to take assignments that require him to give legal opinions or represent his clients before various government authorities in the Ministry of Corporate Affairs and otherwise. He may represent his clients before the Regional Director, Company Law Board and the National Company Law Tribunal (as and when it will be formed). He will thus be primarily practicing in Corporate Law.

Except, for a CA to further represent his clients before the High Courts and Supreme Court, he will have to get an additional LL.B. degree, take the membership of the Bar Council and give up on his Certificate of Practice as Chartered Accountant.

Now, to talk about those who wish to pursue Corporate Law without doing a CA - A person can practice in Corporate Law right after he completes his LL.B. and takes the membership of the Bar Council. This sounds like a much easier route as the curriculum for an LL.B. degree in India is not considered as vast or exhaustive as that of CA. Also, the pass percentage of LL.B. is much higher than that of CA.

So if a person had to practice Corporate Law, why would he choose to complete a CA degree first?

A number of students face the tough decision of having to choose a career path for themselves much earlier in their life than they believe they have the proper judgment to. The following factors could be considered by someone who is at such crossroads and thinks that he might want to pursue Corporate Law.

1. A CA Degree opens your horizons to areas of practice such as auditing and financial consultancy, fields on which an LL.B. degree does not focus. However, on the other hand, an LL.B. degree opens options such as practicing in Criminal Law, Civil Law, Property Laws, Intellectual Property Laws, Arbitration, etc. So, one should choose based on what kinds of allied career paths one might want to consider along with corporate law after having completed the degree.

2. Both lawyers and CA's study Taxation during their course. However, it would not be incorrect to mention that the specialization a CA degree offers in the field of taxation is not something that studying taxation in LL.B. can even come remotely close to. In case a person might also want to practice in tax laws along with corporate laws later, CA is definitely the better option of the two from the perspective of studying tax laws more exhaustively.

3. There are various educational institutes in the country that offer a degree in LL.B., but only one institute (ICAI) that administers and conducts the CA exams. Having one institute ensures better control over the quality of the students passing the exam. This in no way means that students of law are any less. It just shows that for education in law, the institute you do it from would matter a lot. There are a number of infamous colleges of law in the country obtaining a LL.B. degree from where is not considered to be a tough task.

4. To reiterate, a CA in practice cannot represent his clients before the High Courts and the Supreme Court. He will have to do an LL.B. and take the Bar Council membership for such representations.

I hope this offers some guidance on the factors to consider while taking the decision to pursue LL.B., or CA, or CA with LL.B.

Wednesday, 22 July 2015

Dates for CA Exams in November 2015

The ICAI has released the dates for IPC and Final exams to be held in November, 2015. The calendar is as follows.

INTERMEDIATE (IPC) EXAMINATION

Group-I: 2nd, 4th, 6th & 8th November 2015
02.11.2015: Financial Accounting
04.11.2015: Law Ethics and Communication
06.11.2015: Cost Accounting & Financial Management
08.11.2015: Taxation Laws

Group-II: 10th, 13th & 15th November 2015
10.11.2015: Advanced Accounting
13.11.2015: Auditing & Assurance
15.11.2015: Information Technology and Strategic Management

(Afternoon Session: 2.00 PM to 5.00 PM) (IST)

FINAL EXAMINATION

Group -I: 1st, 3rd, 5th & 7th November 2015
01.11.2015: Financial Reporting
03.11.2015: Strategic Financial Management
05.11.2015: Advanced Auditing and Professional Ethics
07.11.2015: Corporate and Allied Laws

Group -II: 9th, 12th, 14th & 16th November 2015
09.11.2015: Advanced Management Accounting
12.11.2015: Information System Control and Audit
14.11.2015: Direct Tax Laws
16.11.2015: Indirect Tax Laws

(Afternoon Session: 2.00 PM to 5.00 PM) (IST)


When are CA IPCC Results for May 2015 Expected?

There has been no official statement yet, but the results are expected between 31st July and 4th August; most probably on 4th August, 2015.

Tuesday, 21 July 2015

How does BA-Economics compare to a CA Degree in India?

BA-Economics stands for a Bachelors Degree in Arts with Economics being the prime subject of focus. It is a wonderful course to pursue at the undergraduate level as the course content focuses on arming you with basic concepts of Micro Economics, Macro Economics, Statistics, Indian Economics, Behavioral Economics, etc.

Whereas, CA is firstly a professional course that gives you a statutory right to certify financial and accounting documents in various capacities, among which the most common is the auditor. The objective of the course is to turn a student into an expert on Accountancy, Audit and Taxation among various other allied disciplines of study in the commerce stream.

Therefore, these courses can be differentiated on the following fronts:

1. Status: Bachelors Degree v. Professional Qualification
2. Depth of Study: Preliminary vs. In Depth
3. Subjects of Study: Economics vs. Tax, Accounts, Audit, etc.
4. Expected Salary of a Fresher (approximate): Rs. 15,000 vs. Rs. 45,000

Monday, 20 July 2015

How much interest is paid on Income Tax Refund?

As per Section 244A of the Income Tax Act, 1961, a taxpayer is entitled to interest @ 0.5% for every month or part of the month i.e. 6% per annum from the first day of April of the assessment year to the date on which the refund is granted.

However, no interest is paid if the amount of refund is less than 10% of the tax payable by the assessee. 

What is the Selection Criteria for Article Trainees in a CA Firm?

Every firm may have its own selection criteria and policy. There is no uniform selection process across firms, governed by ICAI.

The criteria may include, but may not be limited to the following:
1. Your score in the IPCC exams.
2. The number of attempts it took you to pass your IPCC Group 1 or Both Groups.
3. Communication skills.
4. Flexibility in terms of travelling for audits.
5. Time flexibility as most CA offices have long working hours.
6. General awareness

Sunday, 19 July 2015

What kind of work do Article Assistants perform at a CA firm?

An Article Assistant's work at a CA Firm can be classified into various different categories. The classification will vary depending on the purpose for which you require such information. For example, for filling in your articleship completion form or for preparing a C.V.

However, a broad and probably the most common classification would be on the basis of type of work performed, such as:

1. Auditing
- Statutory Audit (under various statutes such as the Companies Act, etc.)
- Tax Audit (under the Income Tax Act, 1961)
- Bank Audit (Concurrent, Revenue, Statutory, Stock, etc.)
- Internal Audit (depending on management's needs and requirements)
- Forensic Audit
- Propriety Audit (of NGO's to verify proper and efficient use of funds)

2. Accounting: which primary comprises Book Keeping in an Accounting Software such as Tally, Busy, Fact, Oracle, SAP, etc., but may also include preparation of reconciliation statements such as Bank Reconciliations, preparing Ageing Analysis of Creditors and Debtors and compiling accounting data into relevant information.

3. Taxation (Direct and Indirect)
- Preparation and Filing of Tax Returns (Income Tax, Service Tax, Sales Tax, VAT, Excise, TDS, etc.)
- Preparation of submissions for various tax assessments and representations.
- Advisory services, in which case you answer a client's queries relating to various tax compliances and offer some legal tax opinions.
- Obtaining registrations, approvals and other liaisoning with the tax authorities.

4. Legal and Secretarial (primarily concerned with Corporate Laws)
- Preparation and Maintenance of various records under various corporate laws such as Registers and Records specified under the Companies Act, 2013.
- Online filing of various forms under the Companies Act, etc.
- Representation services before various government authorities.

5. Other work such as assistance in office administration.

Every Article Assistant and Principal is expected to maintain record of work performed by the Article during the training period. Such record would form the basis of such classification.

Saturday, 18 July 2015

Why do CA's not get high pay packages despite CA being such a tough course?

A simple law of economics states that when the supply of a product increases over its demand, its value falls. Similarly, when the demand of the product rises over its supply, its value increases.

Now look at a Chartered Accountant as a product. Or to put it in better words, try to imagine a CA's service as an item for sale in the market. If there will be a huge number of suppliers, the value or the return that a CA may get for his service will reduce due to market forces. Similarly, if there are very few suppliers of a type of service provided by a CA, the value will go up.

Considering the population and the drive towards higher education in India, the number of people passing the CA exams is increasing year by year primarily because of the growing number of students attempting the exams every year. This clearly shows an increasing supply of people with a CA degree in the economy.

Unless you are at an influential position in the Institute's Examination Board, you may not be able to control the number of people who pass the exam every year. So let's take that factor away and think of what you can do to increase your value as a CA. Your services or the product offering (you) will have to be better in terms of performance and efficiency when compared to other competing products (other CA's) in the market. You could consider the following few aspects of your service that you could improve on and stand out from the other CA's:

1. Specializing in an area of practice related to the CA field such as direct taxation, indirect taxation, international taxation, transfer pricing, forensic audit, and focusing n becoming an expert at that one job that you may do better than most other CA's in the industry.

2. Polishing other aspects that package the product i.e. working on your communication skills and overall personality than just knowing your subjects well. At the end of the day, you will be dealing with people who, a lot of times, may judge your intelligence on the basis of the way you communicate or present yourself. Work on those aspects, too.

3. Being a top scorer (rank holder) or have some other achievement that sets you apart because even in the ICAI's campus placements, the rank holders get, on an average, higher packages that the others.

I'm sure that not every engineer from IIT gets an extraordinarily high pay package. Only those who outshine their peers in some way do. Why should it be different in CA?

Also remember that the state of affairs is good because such market dynamics would force you to keep improving your knowledge and skills to remain in the market. It is unfair to assume that three years' of hard work should be enough to serve your interests for a lifetime. Continuous effort and improvement needs to be the objective.

Hope this answers your question.

Friday, 17 July 2015

Should I avail or surrender my exemption in the CA Finals?

If your exemption is in a subject that you find easier to score in when compared to the other subjects of the group, I would suggest surrendering the exemption because this subject has the potential to contribute immensely in pulling up your average score to minimum 50% even if you may not do well enough in the other 3 subjects. This especially holds true for groups that have one or two tricky theory subjects in which the the average marks given to students are lower than what is normally awarded in other subjects. For example, a number of students find Information System Control and Audit (ISCA) to be a subject, which is very difficult to score high marks in. Similarly, another student may find Auditing to be a subject that is not too scoring for him.

The bottom line is: take an exemption if you think you will be able to get an average score of 50% in the remaining 3 exams of a group, when you take them in the following attempt.

As for the con, I would say that surrendering an exemption means that you had the opportunity to get away with studying for that paper, but you still choose to devote a lot of time again in preparing for it.

Therefore, there is no formula for which is the best course of action. Your decision to avail or surrender an exemption should consider the following factors:
1. The subject's ability of pulling up the average marks to 50% in a group, when the remaining three subjects may not be those that you know best.
2. The time you may have to devote in studying for the subject you scored over a 60% in, the next time that you prepare for the exams.

Hope this helps. Also, good luck and best wishes :)

Thursday, 16 July 2015

Can I file my Income Tax Return only on the basis of Form 26AS?

It's not the best practice because a number of times the deductors make errors such as:

1. Deducting your TDS but not depositing it with the tax authorities.
2. Deducting your TDS and depositing it in incorrect PAN or PAN of some other deductee.
3. Depositing someone else's TDS in your PAN.
4. Deducting and depositing your TDS but not filing the TDS return, or incorrect filing of TDS return.

In the cases mentioned above, your amounts of payments received and TDS deposited will not be reflected accurately. Thus, if you file your income tax return based on only the data reflecting in Form 26AS, there is a possibility of filing of incorrect or incomplete information.

In a number of cases, correct TDS amounts do not appear in Form 26AS at the time of filing of return, and then the assessee reminds the deductor to correct his TDS return or deposit the TDS, if not already deposited so that the information in Form 26AS is complete and correct.

Remember that Form 26AS is not your primary source of information about your incomes for the year, but only a secondary source. You may file your returns based on information reflecting in Form 26AS, but there could be a possibility of error, as is seen in a number of cases. So you can do it in case you do not find primary documents evidencing your incomes, but you must tread carefully.

I am also assuming that you know that there are many types of incomes, which do not appear in your Form 26AS as TDS may not have been deducted on them.

Wednesday, 15 July 2015

Is it necessary to have a Form 16 to file Income Tax Return?

Part B of your Form 16 gives the composition of your annual salary in terms of taxable and non-taxable elements, such as Basic Salary, Travelling Allowance, House Rent Allowance, Provident Fund contribution (of both employee and employer), etc.

Further, Part A of the Form 16 reflects the amount of TDS deducted by your employer from your remuneration and deposited with the Income Tax Department for your credit.

It is your lawful right to receive a Form 16 from your employer by 30th April (i.e. within one month of end of the financial year). Otherwise, the employer can be liable to pay a penalty of Rs. 100 for each day by which he delays issuance of this certificate.

It is necessary for you to have a Form 16 before you file your Income Tax Return because it will enable your tax return preparer to fill in the correct taxable amount of your remuneration (as the amount you receive in your bank account is after various deductions, and your taxable salary may include the imputed value of various other benefits that you may receive from your employer). It will be extremely difficult for anyone to determine the correct taxable figures without your Form 16. However, having a Form 16 for filing of return is not a mandatory condition.

Form 16 also acts as a check for you to verify whether your employer has deposited the whole amount of TDS that he may have deducted from your salary.

Tuesday, 14 July 2015

Can I skip CA CPT if I am a Graduate?

The Direct Entry Scheme of the ICAI was announced on 16th August, 2012.

This Scheme exempts the following category of students from passing the Common Proficiency Test (CPT):

1. Graduates or Post Graduates in Commerce who have scored a minimum of 55% of the total marks in the exams conducted by the University by studying any 3 papers of 100 marks each out of Accounting, Auditing, Mercantile Law, Corporate Law, Economics, Management (or Financial Management), Taxation, Costing, Business Administration or Management Accounting;

or

Graduates or Post Graduates in any course other than falling under the Commerce stream as mentioned above, having scored an aggregate of not less than 60% of total marks in the exams conducted by the University.

2. Candidates who have passed either the CS Executive Exams of ICSI or the CMA Inter Level Exams of the Institute of Cost Accountants of India.

Eligible candidates can download the Application Form from this Page

Articleship Training: Graduates or Post Graduates can commence their articleship training after completion of the Information technology Training (ITT) and Orientation Programme. However, CS or CMA Inter Pass students will also have to pass either Group 1 or both Groups of IPCC in addition to ITT and Orientation to commence articleship.

Eligibility to Appear for IPCC exams:
- For Graduates/Post Graduates: Complete 9 months of Articleship.
- For CS Executive/CMA Inter: After 8 months from registration.

Students in their Final Year of Graduation can also apply for provisional registration and appear for the exams after finishing their Graduation or Post Graduation.

The complete Notification can be found this Page

Monday, 13 July 2015

I am unable to concentrate on my studies at home. What should I do?

I understand how frustrated you may feel for not being able to focus on your studies at home. It's a problem that many students face and you are not alone.

The above statements are true and may make you feel slightly relieved for not being the only one facing this problem. However, if this is not a case of a specific mental learning or attention disorder (which I hope it isn't), your problem is the same as that of someone who is unable to control his urge to eat despite knowing that he may be harming his body by over-eating or consuming unhealthy junk.

I have been a student and I still am, and I can tell you that I have been in your shoes, not being able to concentrate on my books in spite of sitting at my study desk for hours and wasting my days or weeks or months. But looking for answers as to why I could not concentrate did not help much. What helped was realizing that by not making the most of my time and concentrating, I was playing with my career. There were times when this realization would strike and I would still not be able to concentrate, but I had to fight back and get in the zone.

Nothing can help you with this, but you yourself. You could practice some of the following tips to help build concentration:

1. Make a time table for the following day before going to bed. Write it down. Divide it into achievable hourly goals and then stick to it like a leech.

2. Do at least half an hour of physical exercise during the day. I used to go for a run with some energizing music plugged to my ears every morning. It helps build mental alertness and activity.

3. Keep time for short half hour breaks in your time table. But do not extend your breaks by even a single minute.

4. Eat light and healthy so that you don't feel sleepy.

5. Make notes when you feel sleepy. It's not as mentally exhausting as trying to learn something by heart, and it also helps you prepare a resource for revision.

6. Track your performance every single day and write it down in a diary.

Remember that your mind and body should be in your control. Don't let your senses control you. It's not as hard as it seems. You just have to keep at it and try like there's no tomorrow. Good luck and all the best!


Sunday, 12 July 2015

What to do if my Income Tax Refund Cheque has Incorrect Bank Account Number?

1. Logon on to e-Filing Home Page, Income Tax Department with your user ID and Password.

2. Go to My Account → Refund Reissue Request

3. Enter the necessary details on the following screen and submit.


4. You will find the information asked for in the above form in the communication received from the Income Tax Department under Section 143(1) or 154, as follows.


5. You have the option to apply for reissue of refund through ECS or in paper form (cheque).

6. For receiving refund directly in your bank through ECS, select ECS mode of refund reissue and enter your correct bank account details when the same are asked. You could also choose the Paper Mode for physical delivery of cheque at your address.


In case your refund is for the Assessment Year 2008-09, you will have to download a Response Sheet from the option "Response Sheet For Refund Failure Status" under the "My Account" option, and then fill it up with your correct details. You will then have to send your cheque with incorrect bank account number with the response sheet to "Income Tax Department – CPC, Post Bag No – 1, Electronic City Post Office, Bangalore – 560100, Karnataka"

You may call the Income Tax Department - CPC, Bangalore on their toll free number 18004252229 or the Refund Banker, Mumbai on its toll free number 18004259760 for any help during normal business hours. They are very helpful and will guide you in a step by step manner.

Hope this helps.


Saturday, 11 July 2015

Should I Pursue FRM with CA? My CA Final Attempt is in November 2016.

FRM would be a wonderful addition to your CA degree. It will give you sound knowledge of financial mathematics and risk analysis, a lot of which could be beyond what you will study in your Strategic Financial Management paper of CA Final.

I, or for that matter, no one can guarantee if it will land you a job in an Investment Banking or any other allied firm in the financial industry. However, there is no reason why your additional hard work in pursuing this course will not be rewarded in the future. The knowledge that the course will give you will be quite a reward in itself, and I believe it should definitely brighten your chances of getting a good work profile in the finance field.

To answer whether you should do it right now, I would suggest that you should wait to complete your CA Final exams first. Had your attempt been in November 2017, I would have asked you to go ahead and do it simultaneously. However, currently, my advice would be that you focus on doing your CA final course well so as to clear it with flying colors in the first attempt.

Wish you the best!

Friday, 10 July 2015

Does ICAI publish amendments relevant for an attempt somewhere?

Yes, the Institute publishes important changes in the Revisionary Test Papers (RTP) for that attempt. Further, on the ICAI Board of Studies' website, where all the official study materials, etc. are available for download, you will find that the ICAI also uploads some additional study resources in case of major changes.

The following links can be accessed for such information:
http://icai.in/new_post.html?post_id=5720&c_id=314

http://icai.in/new_category.html?c_id=121

You should also refer to the Students' Journal of ICAI for all notifications on relevant amendments applicable for the next exam session.