ICAI CA Syllabus For All Three Levels

Hello Friends, Are you searching for the CA syllabus or subjects? Then read this article, and we will provide you with the whole syllabus for the chartered accountancy course. But first, let me give you a short introduction to this course. The whole CA syllabus is divided into three stages.  The Entrance level is CA Foundation which is very basic and contains almost a syllabus that you have already gone through in your senior secondary classes. However, the other two levels CA Intermediate and CA Finals contain a very vast syllabus. At every stage, you will read an advanced version of its core subjects.

CA Syllabus- Course Highlight

CA Course

CA Eligibility Criteria

• For opting for CA or Chartered Accountant, students must have cleared 10+2 examinations.
• Students must have scored a minimum of 55 percent marks (aggregate) to be eligible for CA courses. 

CA Course Structure

The CA course is divided into three levels. They are:

• CA Foundation
• CA Intermediate/IPCC
• CA Final

CA Syllabus

Students can download the ICAI syllabus in pdf format from the link given below. CA course syllabus available here is from the ICAI. Students must go through the CA full syllabus given below. 

CA Foundation Syllabus

Let’s Start with the entrance test i.e. CA Foundation. This comprises of Four Subjects given as follows:-

Below are all the CA Foundation Syllabus and Subjects.

PAPER – 1 Principles and Practices of Accounting

The First Subject at this level is Principle and Practices of Accounting. This is the core subject of this Course. This subject really get advanced with the increase in the levels of CA Course.  At the Foundation level  it includes the topics like –

• Theoretical Framework
• Accounting Process
  • Preparation of Trial Balance
  • Rectification of Errors etc,
• Bank Reconciliation Statements
• Inventories
• Concepts and Accounting for Depreciation
• Accounting for Special Transactions
• Final Accounts of Sole Proprietors
• Partnership Accounts
• Financial Statements of Not-For Profit Organizations.
• Introduction to the Company Accounts

PAPER -2  Business Laws and Business Correspondence and Reporting

SECTION – A  Business Laws

This is a new subject for the candidates who are appearing in the CA Foundation after giving the 12th Examinations. The object of this subject is to develop the basic understanding of the General Business Laws and also understand their application in the business.

CONTRACTS  COVERED BY THIS SUBJECT-

1. The Indian Contract Act, 1872
2. The sale of Goods Act, 1930
3. The Indian Partnership Act, 1932
4. The Limited Liability Partnership Act, 2008
5. The Companies Act, 2013

At this level, you will have a basic knowledge of the General contracts which is very important to apply these laws in your work. The further next levels will contain a detailed understanding of this subject and a depth knowledge of the Companies Act, 2013 which is replaced by Companies Act, 1956.

SECTION – B  Business and Correspondence Reporting

This subject is newly introduced in CA Foundation seeing the importance of good Communication Skills in the Corporate environment. The topics covered in this subject are given as follows –

Part – 1   Communication

Part -2    Sentence Types and Word Power

1. Sentence types (Direct, Indirect, Active-Passive Speech)
2. Synonyms, Antonyms, Prefixes, Suffixes,  Phrasal verbs, Collocations & Idioms.

Part -3   Vocabulary

Part -4  Comprehension Passages

Part -5  Note Making

Part -6  Introduction to Basic Writing

Part -4  Developing writing Skills

1. Introduction to Basic writing
2. Précis Writing
3. Article Writing
4. Report Writing
5. Writing Formal Letters
6. Writing Formal Mails
7. Resume Writing
8. Meetings

As you can see these are the general topics which you have gone through in your previous classes.

PAPER – 3   Business Mathematics, Logical Reasoning and Statistics

SECTION – A     Business Mathematics

If you were a maths student in your senior secondary classes then you are familiar with these topics.

Topics covered are-

1. Ratio and Proportion, Indices and Logarithms
2. Equations and Matrices
3. Linear Inequalities with Objective Functions and Optimization w.r.t. objective function.
4. Time value of Money
5. Permutations and Combinations
6. Sequence and Series
7. Sets, Relations, and Functions
8. Basic applications of Differential and Integral calculus

SECTION – B  Logical Reasoning

The objective of this subject is to develop basic logical reasoning skills and scoring subjects for all category students whether Maths or Non-Maths.

1. Number series, Coding and Decoding and odd man out.
2. Direction Tests
3. Seating Arrangements
4. Blood Relations

SECTION – C Statistics

Maths students in their senior secondary classes have gone through all these topics-

1. Statistical description of Data
2. Measures of Central tendency and Dispersion
3. Probability
4. Theoretical Distributions
5. Correlation and Regression
6. Index Numbers 

PAPER – 4  Business Economics and Business and Commercial Knowledge

SECTION – A Business Economics

Develop an understanding of basics of Business Economics and apply such basic concepts in simple problem solving.

Topics covered in this section includes-

1. Introduction to Business Economics
2. Theory of Demand and Supply
3. Theory of Production and Cost
4. Price Determination in Different Markets
5. Business Cycles

SECTION – B Business and Commercial Knowledge

This is also a new subject introduced in CA Foundation to develop a basic understanding of Business and Commercial Concepts.

Topics covered in this subject are-

1. Business and Commercial Knowledge – An Introduction
2. Business Environment
3. Business Organizations
4. Government Policies for Business Growth
5. Organizations Facilitating Business
6. Common Business Terminologies

These are the four subjects covered in CA Foundation. The above two subjects will get wide with the increase in the levels and their paper is also subjective . However the later two papers will be objective and negative marking is also there in case of objective papers. For each wrong answer ¼ marks will get deducted and for each correct answer 1 mark will be given.

Important Links

• 10 Secrets to Sure Shot Success in CA Foundation
• ICAI CA Foundation Registration & Eligibility Criteria
• How to Score High Marks in CA Foundation Exam
• CA Foundation Study Material
• CA Foundation Practice Papers

CA Intermediate Syllabus

This is the second stage in the CA Journey. The course is very vast. And it’s really difficult to cover the entire course but not difficult. The CA intermediate syllabus comprises of eight subjects divided into two groups each of 4 subjects-

PAPER – 1    Accounting

As we have already discussed, that this is the core subject of the entire CA syllabus. Application of Accounting Standards and also various other topics to prepare the Financial Statements of various entities.

Topics covered in this Subject are-

1. Introduction to Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs.
2. Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
3. Overview of Accounting Standards
4. Financial Statement of Companies
5. Profit or Loss Pre and Post Incorporation
6. Accounting for bonus issue and right Issue
7. Redemption of Preference shares and Debentures
8. Investment Accounts 
9. Insurance claims for Loss of Stock or Loss of Profit
10. Accounting Pronouncement

PAPER -2  Corporate and other Laws

SECTION – A  Company Law

To acquire the knowledge of company law and apply the same in audit of Companies or preparation of its Financial Statements. Until you don’t have an idea what is written in the law, you can’t audit a company’s Financial Statement. Basically it covers from Sec 1 to 148 from the Companies Act 2013.

Topics covered in this Section are –

1. Preliminary
2. Incorporation of Company and Matters Incidental thereto
3. Prospectus and Allotment of Securities
4. Share Capital and Debentures
5. Acceptance of Deposits by companies
6. Registration of Charges
7. Management and Administration
8. Declaration and Payment of Dividend
9. Accounts of Companies
10. Audit and Auditors

Note- Students shall also note that sections of Companies Act, 1956 which are still in force will form part of your syllabus.

SECTION – B    Other Laws

Interpretation of various statutes, their rules, develop a basic understanding of these rules.

Laws covered in this section are –

1. The Indian Contract Act, 1872
2. The Negotiable Instruments Act, 1881
3. The General Clauses Act, 1897
4. Interpretation of Statutes.

PAPER – 3 Cost and Management Accounting

Develop an understanding of the Cost Accounting Statements, calculation of the cost associated with the production of a product, preparation of cost accounting statements.

Topics covered under cost and management accounting are-

• Introduction to Cost and management Accounting
• Material Cost
• Employee Cost
• Overheads: Absorptions and Costing Methods
• Activity Based Accounting
• Cost Sheet
• Cost Accounting System
• Unit and Batch Costing
• Job Costing and Contract costing
• Process and Operation Costing
• Joint Products and By Products 
• Service Costing
• Standard Costing
• Marginal Costing
• Budget and Budgetary Control

PAPER – 4        TAXATION

As we all know that CA is known as a tax planner. This subject develops an understanding of the Income Tax and Goods and Service Tax prevailing in India.

SECTION – A        Income Tax

This section covers topic like-

1. Basic concepts
2. Residential status and scope of total income
3. Income which do not form part of the total income
4. Heads of Income and computation of Income under various heads-
   1. Salaries
   2. Income from House Property
   3. Income from Business and Profession
   4. Capital Gains
   5. Income from other sources
5. Income of other person’s included in total income
6. Aggregation of Income, Set off or Carry forward and set off of losses.
7. Deduction from the Gross Total Income
8. Computation of total income and tax liability of Individuals.
9. Advance Tax, Tax deduction at source and Introduction to Tax Collection at Source
10. Provisions for filing return of Income and Self Assessment.

SECTION – B        Indirect Taxes

As we all know friends that GST replaces the various taxes prevailing in the country. One Nation, One Tax. So, under this Section you will have to study about GST.

Topics covered under this head are-  

1. GST in India
2. Supply Under GST
3. Charge of GST
4. Exemption From GST
5. Time and Value of Supply
6. Input Tax Credit
7. Registration
8. Tax Invoice: Credit and Debit Note
9. Payment of tax
10. Returns

This is the entire syllabus of Group – 1 in Intermediate.

Group – II

PAPER – 5    ADVANCE ACCOUNTING

The objective of this subject is to apply Accounting Standards, Guidance Notes and Legislations to the various transactions and events in the preparation and presentation of Financial Statements of Business Entities.

And also to understand and apply financial reporting and regulatory requirements of Banking, Financial Services and Insurance Sector.

Topics Covered by this Subject are-

1. Application of Accounting Standards. (AS – 7,9,14,18,19,20,24,26,29)
2. Partnership Accounts
3. Accounting for Employee Stock Option Plans
4. Buyback of Securities and Equity Shares with Differential Rights
5. Amalgamation of Companies
6. Internal Reconstruction
7. Liquidation Of Companies
8. Banking Companies
9. Consolidated Financial Statement
10. Accounting Pronouncement

PAPER – 6     AUDITING AND ASSURANCE

As we all know that audit is the basic work of a Chartered Accountant. This subject helps in developing an understanding of the concept in auditing and generally accepted auditing procedures, techniques and skills and acquire the ability to apply the same in Audit and Attestation work.

Topics covered in this subject are as follows –

1. Nature, Objective, and Scope of Audit.
   1. Auditing Concepts.
   2. Standard Setting  Process.
   3. Engagement Standards
2. Audit Strategy, Audit Planning, and Audit Programme.
3. Audit Documentation and Audit Evidence
4. Risk Assessment and Internal Control.
5. Fraud and Responsibilities of an Auditor in this regard.
6. Audit in an Automated Environment.
7. Audit Sampling.
8. Analytical Procedures.
9. Audit of Items of Financial Statements.
10. The Company Audit
11. Audit Report
12. Audit of Banks
13. Audit of Different types of Entities.

PAPER – 7     ENTERPRISE INFORMATION SYSTEMS AND STRATEGIC MANAGEMENT

SECTION – A     Enterprise Information Systems

Develop an understanding of technology-enabled information systems and their impact on enterprise wide processes, risks and controls.

Topics covered in the above section are as follows –

1. Automated Business Processes
2. Financial and Accounting Systems.
3. Information Systems and its Components.
4. E-Commerce, M-Commerce and Emerging Technologies.
5. Core Banking Systems.

SECTION – B     Strategic Management

To develop an understanding of the Strategic Management concepts and techniques and acquire the ability to apply the same to business situations.

Topics covered by this section are as follows-

1. Introduction to Strategic Management.
2. Dynamics of Competitive Strategy.
3. Strategic Management Process.
4. Corporate level strategies.
5. Business Level Strategies.
6. Functional Level Strategies.
7. Organization and Strategic Leadership.
8. Strategy Implementation and Control.

PAPER – 8 FINANCIAL MANAGEMENT AND ECONOMICS FOR FINANCE

SECTION – A         Financial Management

To develop an understanding of various aspects of Financial Management and acquire the ability to apply such knowledge in Decision – Making.

Topics covered under this section are –

• Scope and Objectives of financial Management
• Types of FInancing
• Financial analysis and Planning :Ratio analysis
• Cost of Capital
• Financing Decision: Capital structure
• Financing Decision: Leverages
• Investment Decision
• Risk Analysis in Capital Budgeting
• Dividend Decision
• Management of Working Capital

This are the topics which you will study in depth under this section.

SECTION – B   Economics for Finance

To develop an understanding of the concepts and theories of Economics in the context of Finance and acquire the ability to address application oriented issues.

Topics covered under this section are as follows-

1. Determination of National Income
2. Public Finance
3. The Money Market
4. The International Trade

This is the entire course at Intermediate Level of CA Course.

Important Links

• CA Intermediate Registration and Eligibility Criteria
• CA Intermediate Study Material 
• CA Intermediate Papers
• How to Prepare CA Intermediate Exams

CA Final Syllabus

The last level in this journey is CA Final. The course of the CA Final syllabus is divided into eight subjects and these eight subjects are further divided into two groups. One of the paper from the eight papers is elective. Students are given a number of subjects from which they can opt a subject.

At the time of registration for the final course, you have to opt for a subject from the elective paper. Other subjects are mandatory for all.

These subjects are based on the new syllabus introduced by the ICAI.

PAPER – 1     FINANCIAL REPORTING

Detailed study of Accounting Standards, IND AS , Guidance Notes and to acquire the ability to integrate and problem solving in practical scenarios based on the AS, IND AS. Their appropriate treatment and formulate the accounting policies.

Develop an understanding of the various forms of reporting and accounting for special transactions and apply such knowledge in problem solving.

Topics covered in this subject at the Final level are-

1. Application of Existing Accounting Standards (AS 15,21,23,25,27,28)

(you will also be required to apply other accounting standards if applicable in other questions).

1. Application of Guidance Notes issued by the ICAI on Specified Accounting Aspects.
2. Framework for the preparation and presentation of Financial Statements.
3. Application of Indian Accounting Standards (IND AS).
4. Consolidated and Separate Financial Statements (as per IND AS)
5. Application of Industry-specific and Transaction-specific Indian Accounting Standards.
6. Business Combinations and Accounting for Corporate Restructuring/ Demerger (As per IND AS).
7. Accounting and Reporting of Financial Instruments (As per IND AS).
8. Accounting for Share-Based Payments.(As per IND AS)
9. Analysis of Financial Statements.
10. Accounting for Carbon Credits
11. Accounting for E-Commerce
12. Emerging trends in Reporting.

PAPER – 2     STRATEGIC FINANCIAL MANAGEMENT

The objective behind this subject is to acquire the ability to apply the Financial Management theories and techniques in Strategic Decision Making.

Topics covered under this subject are as follows –

1. Financial Policy and Corporate Strategy.
2. Risk Management.
3. Security Analysis.
4. Security Valuation
5. Portfolio Management.
6. Securitization
7. Mutual Funds
8. Derivatives Analysis and Valuation.
9. Foreign Exchange Exposure and Risk Management.
10. International Financial Management.
11. Interest Rate Risk Management
12. Corporate Valuation
13. Mergers, Acquisition and Corporate Restructuring.
14. Startup Finance

PAPER – 3  ADVANCED AUDITING AND PROFESSIONAL ETHICS

The third paper comes in this queue is Adv. Auditing and Professional Ethics. The objective behind this subject is to acquire the ability to analyse the current business practices and procedures and apply them in auditing engagements.

Topics Covered in this Subject are as follows-

1. Auditing Standards, Statements and Guidance Notes
2. Audit Planning, Strategy and Execution.
3. Risk Assessment and Internal Control.
4. Special Aspects of Auditing in an Automated Environment.
5. Audit of Limited Companies.
6. Audit Reports.
7. Audit Committee and Corporate Governance.
8. Audit of Consolidated Financial Statements.
9. Special Features of audit of Banks, Insurance and Non Banking Financial Companies.
10. Audit under Fiscal Laws.
11. Special Audit Assignments.
12. Audit of Public Sector Undertakings.
13. Liabilities of Auditors.
14. Internal Audit, Management and Operational Audit.
15. Due Diligence, Investigation and Forensic Audit.
16. Peer Review and Quality Review.
17. Professional Ethics.

PAPER – 4     CORPORATE AND ECONOMIC LAWS

This subject is divided into two sections, one is Corporate Laws while the other one is Economic Laws.

PART – 1    CORPORATE LAWS

This is further divided into two section one is Company Law and the other one is Securities Law.

SECTION – A     Company Law

The objective behind this subject is to acquire the ability to analyse, interpret and apply the provisions of Company Law in practical situations.

Topics Covered under Company Law are as follows –

Companies Act, 2013

1. Appointment and Qualification of Directors.
2. Appointment and Remuneration of Managerial Personnel.
3. Meetings of Board and its Powers.
4. Inspection, Inquiry and Investigation.
5. Compromises, Amalgamations and Arrangements.
6. Prevention of Oppression and Mismanagement.
7. Winding Up.
8. Producer Companies.
9. Companies incorporated outside India.
10. Miscellaneous Provisions.
11. Compounding of Offences, Adjudication and Special Courts.
12. National Company Law Tribunal and Appellate Tribunal.
13. Corporate Secretarial Practice – Drafting of Notices, Resolutions, Minutes and Reports

Corporate Secretarial Practice

Drafting notices, Resolutions, Minutes.

Note – The students should also note that the provisions of Companies Act, 1956 which are still in force would form part of your syllabus till their corresponding sections are not enforced in the Companies Act, 2013.

SECTION – B    Securities Law

The objective behind this section is to acquire the ability to analyse the significant provisions of select securities laws.

Topics covered under this head are as follows-

1. The Securities Contract (Regulation) Act, 1956 and Securities Contract (Regulation) Rules, 1957. Introduction and Important Provisions.
2. The Securities Exchange Board of India Act, 1992, SEBI (Issue of Capital and Disclosure Requirements) regulations, 2009 and SEBI(Listing Obligation and Disclosure Requirements) Regulations, 2015.

PART – 2     ECONOMIC LAWS

The second part of this subject is Economic Laws and the objective behind this section is to acquire the ability to analyse the significant provisions of Economic Laws.

Topics covered in this part are –

1. The Foreign Exchange Management Act, 1999.
2. The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.
3. The Prevention of Money Laundering Act, 2002.
4. Foreign Contribution Regulation Act, 2010.
5. The Arbitration and Conciliation Act, 1996.
6. The Insolvency and Bankruptcy Code, 2016.

PAPER – 5 STRATEGIC COST MANAGEMENT AND PERFORMANCE EVALUATION ( CA Final Costing )

Objective

1. To apply various cost management techniques for planning and controlling performance in order to set,

monitor and control strategic objectives.

2. To develop skills of analysis, synthesis and evaluation in cost management to address challenges and issues which might affect or influence the management of performance within organisations.

The subject is divided into three categories-

• Strategic Cost  Management and Decision Making.
  • Strategic Cost Management
  • Strategic Decision Making
• Performance Evaluation and Control.
  • Performance Evaluation and Reporting.
  • Managerial Control.
• Case Studies (Covering course Concepts)

PART – 1     STRATEGIC COST MANAGEMENT AND DECISION MAKING

Topics covered by the above section are –

1. Introduction to Strategic Cost Management.
2. Modern Business Environment.
3. Learn System and Innovation.
4. Cost Management Techniques.
5. Cost Management for Specific Sectors.
6. Pricing Decision

PART – 2    PERFORMANCE EVALUATION AND CONTROL

1. Performance Measurement and Evaluation
2. Divisional Transfer Pricing
3. Strategic Analysis of Operating Income.
4. Budgetary Control
5. Standard Costing

PART 2: CASE STUDY

PAPER – 6   

As I have already told you friends that one of the paper from the eight paper is elective and paper no. 6 is a elective paper. You have to choose while registering for the Final Course.

The paper included are-

PAPER – 6A     Risk Management

PAPER – 6B    Financial Services and Capital Markets.

PAPER – 6C    International Taxation.

PAPER – 6D    Economic Laws

PAPER – 6E     Global Financial Reporting Standards

PAPER – 6F    Multi- Disciplinary Case Studies

The objective behind introducing this subject in CA Curriculum is gain an understanding of the risk faced by the businesses and to learn techniques of managing such risks.

To build capability for applying such learning to address risk related issues in real business scenarios.

Topics Covered –

1. Introduction to Risk
2. Source and Evaluation of Risks.
3. Risk Management.
4. Evolution of Risk Management Strategies
5. Risk Model
6. Credit Risk Measurement and Management.
7. Risk Associated with the Corporate Governance.
8. Enterprise Risk Management.
9. Operational Risk Management

PAPER – 6B     FINANCIAL SERVICES AND CAPITAL MARKETS

OBJECTIVE

To gain knowledge of Financial Services rendered by Intermediaries and Banks and their role and activities in the Financial Market in general and Capital Market in particular and also to apply such knowledge in practical scenarios.

Topics covered by this subject are as follows –

1. Global Financial Markets
2. Impact of Various policies of Financial Markets
3. Capital Market – Primary
4. Capital Market – Secondary
5. Money Market
6. Institutions and Intermediaries
7. Commodity Market
8. A. Banking Management
9. Banking as a source of capital including NBFC’s
10. Mutual Funds
11. Private Equity
12. Investment Banking
13. Credit Rating
14. Treasury Operations
15. Risk Management
16. Credit Derivatives
17. Leasing
18. Factoring
19. SEBI Guidelines

Following topics which are covered in SFM and LAW will  also form part of the syllabus-

1. Securitization
2. Fixed Income Securities (Valuation of Bonds/ Debentures)
3. Derivatives
4. Interest Rate Risk
5. The Securities and Exchange Board of India Act, 1992
6. Legislative framework on listing agreements
7. The Securities Contract (Regulation) Act, 1956
8. Chapter III-D of the RBI Act, 1934

PAPER – 6C    INTERNATIONAL TAXATION

OBJECTIVE

The Objective behind introducing this subject in CA Course is to develop an understanding of the concepts, principles and provisions of International Taxation and to apply such concepts and knowledge in preparing Computation and address in practical scenarios.

Topics covered under this subject are as follows –

• Transfer Pricing
  
• Non-resident Taxation
  
• Double Taxation Relief
  
• Advance Ruling
  
• An Overview of the Black Money and the Imposition of Tax Law
  
• Taxation of E-Commerce Transactions
  
• Tax Treaties: Overview, Features, Application and Interpretation
  
• Anti Avoidance Measures
  
• Overview of Model Tax Conventions

Note – The students may note that the transfer pricing part in PART – 1 will carry 30 marks.

PAPER – 6D        ECONOMICS LAWS   

OBJECTIVE

To develop an understanding of the provisions of different economic laws and acquire the ability to apply such knowledge to address issues in practical case scenarios.   

Topics covered under this subject are as follows –

1. Chapter 1: The Competition Act, 2002
   
2. Chapter 2: The Real Estate (Regulation & Development) ACT, 2016
   
3. Chapter 3: The Insolvency and Bankruptcy Code, 2016
   
4. Chapter 4: The Prevention of Money Laundering Act, 2002
   
5. Chapter 5: The Foreign Exchange Management Act, 1999
   
6. Chapter 6: Prohibition of Benami Property Transactions Act, 1988
   
7. Chapter 7: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI)

PAPER – 6E    GLOBAL FINANCIAL REPORTING STANDARDS

OBJECTIVE

1. To develop an understanding of the key concepts and principles of International Financial Reporting Standards and to acquire the ability to apply such knowledge to make computations and address issues in practical case scenarios.
2. To develop an understanding of the significant differences between IFRS and US GAAPs and apply the same in practical case scenarios.

Topics Covered –

1. Conceptual Framework for Financial Reporting as per IFRS – 10 Marks
2. Application of International Financial Reporting Standards – 70 Marks
3. Significant differences between IFRS and US GAAPs – 20 Marks

PAPER – 6F     MULTI-DISCIPLINARY  CASE STUDY

OBJECTIVE

To analyze and integrate the concepts, principles and provisions of accounting, auditing, taxation, corporate laws, finance and business strategy and management to address issues in practical case scenarios

Topics covered –

This paper will include Case Studies covering the following areas.

1. Financial Accounting and Reporting
2. Audit and Assurance
3. Taxation
4. Finance and Financial Management
5. Management Accounting
6. Corporate Laws
7. Business Strategy and Management

PAPER – 7     DIRECT TAXATION AND INTERNATIONAL TAXATION

SECTION – A        Direct Taxation

OBJECTIVE

To acquire the ability to analyze and interpret the provisions of direct tax laws and recommend solutions to practical problems.

Topics Covered –

1. Basic Concepts
2. Residence and Scope of Total Income
3. Income of Other Persons included in assessee’s Total Income
4. Salaries
5. Income from House Property
6. Profits and Gains of Business or Profession
7. Capital Gains
8. Income from Other Sources
9. Aggregation of Income, Set-Off and Carry Forward of Losses
10. Deductions from Gross Total Income
11. Assessment of Various Entities
12. Charitable or Religious Trusts and Institutions, Political Parties and Electoral Trusts
13. Tax Planning, Tax Avoidance & Tax Evasion
14. Deduction, Collection and Recovery of Tax
15. Income-tax Authorities
16. Assessment Procedure
17. Appeals and Revision
18. Dispute Resolution
19. Penalties
20. Offences and Prosecution
21. Liability in Special Cases
22. Miscellaneous Provisions

SECTION – B         International Taxation

OBJECTIVE

To develop an understanding of the concepts, principles and provisions of International Taxation and acquire the ability to apply such knowledge to make computations and to address application oriented issues .

Topics Covered –

1. Transfer Pricing and Other Provisions to check Avoidance of Tax
2. Non Resident Taxation
3. Double Taxation Relief
4. Advance Rulings
5. Equalisation Levy
6. Application and Interpretation of Tax Treaties
7. Fundamentals of Base Erosion and Profit Shifting
8. Overview of Model Tax Conventions

PAPER – 8    INDIRECT TAX LAWS

It consists of two parts –

1. Goods and Service Tax
2. Customs &  FTP

SECTION – A     Goods and Service Tax

OBJECTIVE

To acquire the ability to analyze and interpret the provisions of goods and services tax law and recommend solutions to practical problems.

Topics Covered –

1. GST in India
2. Supply Under GST
3. Charge of GST
4. Exemption From GST
5. Place of Supply
6. Time and Value of Supply
7. Input Tax Credit
8. Registration
9. Tax Invoice, Credit and Debit Notes
10. Accounts and Records; E-way Bill
11. Payment of Tax
12. Returns
13. Import And Export Under GST
14. Refunds
15. Job Work
16. Assessment And Audit
17. Inspection, Search, Seizure And Arrest
18.  Demands And Recovery
19. Liability to Pay in Certain Cases
20. Offences And Penalties
21. Appeals And Revisions
22. Advance Ruling
23. Miscellaneous Provisions

SECTION – B         Customs & FTP

OBJECTIVE

1. To develop an understanding of the customs laws and acquire the ability to analyze and interpret the provisions of such laws.
2. To develop an understanding of the basic concepts of foreign trade policy to the extent relevant to indirect tax laws and acquire the ability to analyze such concepts.

Topics Covered –

1. Levy of and Exemptions from Customs Duty
2. Types of Duty
3. Classification of Imported and Export Goods
4. Valuation under the Customs Act, 1962
5. Importation, Exportation and Transportation of Goods
6. Warehousing
7. Duty Drawback
8. Refund
9. Foreign Trade Policy

This is the whole syllabus of the Chartered Accountancy Course

Important Links

• CA Final Study Material
• CA Final Papers
• CA Final Preparation Strategy
• CA Final Registration

Frequently Asked Questions

Q1. What are the eligibility criteria for becoming a Chartered Accountant?

Ans: To become a CA one must have to clear all the levels of CA i.e., CA foundation, CA intermediate, and CA final. To be eligible for CA foundation, one must have to clear the 10+2 examinations and score an aggregate of 55% marks in the examination. To be eligible for CA intermediate exams one must possess a graduate/post-graduate degree in commerce stream with a minimum of 55% in the examination conducted by a recognized university. And lastly to be eligible for CA final one must have completed article training of a prescribed period of 3 years or 3.5 years, as the case may be on the date of filing of final exam application form, one can appear for the CA Final examination during the last six months of their ongoing articleship. One should have passed the Intermediate Examination or Professional Education Examination – II./PCE/IPCE/Intermediate (IPC) Examination. 

Q2. What is the salary of a Chartered Accountant?

Ans: The salary of a Chartered Accountant varies on their working experience. A Chartered Accountant can earn up to 20 lakhs or 25 lakhs per annum.

Q3. How can I prepare for CA exams?

Ans: CA exams are not easy. You need to study well to clear the CA exams in one attempt. Given below are the following steps which will guide you to prepare well for the exams. 

• You must have a daily study routine. 
• Take online classes.
• Practice and reading should go hand in hand.
• Make a habit of making notes.
• Solve mock test papers.