IPCC Notes GMCS ITT Time Table Syllabus Amendments RTP Suggested Answers
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Agriculture Income [Section 10(1)]

2. Any sum received by a Co-parcener from Hindu Undivided Family (H.U.F.) [Section 10(2)]

3. Share of Income from the Firm [Section 10(2A)]

4. Interest paid to Non-Resident [Section 10(4)(i)]

5. Interest to Non-Resident on Non-Resident (External) Account [Section 10(4)(ii)]

6. Interest paid to a person of Indian Origin and who is Non-Resident [Section 10(4 B)]

7. Travel Concession to an Indian Citizen Employee [Section 10(5)]

8. Remuneration received by an individual who is not a citizen of India [Section 10(6)]
9. Tax paid by Government or Indian concern on Income of a Foreign Company [Section  10(6A), (6B), (6BB) and (6C)]

10. Perquisites and Allowances paid by Government to its Employees serving outside India [Section 10(7)]

11. Employees of Foreign Countries working in India under Cooperative Technical Assistance Programme [Section 10(8)]

12. Income of a Consultant [Section 10(8A)]

13. Income of Employees of Consultant [Section 10(8B)]

14. Income of any member of the family of individuals working in India under co-operative technical assistance programmes [Section 10(9)]
15. Gratuity [Section 10(10)]

16. Commuted value of pension received [Section 10(I0A)]

17. Amount received as leave encashment on retirement [Section 10(10AA)]

18. Retrenchment compensation paid to workmen [Section 10(10B)]

19. Payment received under Bhopal Gas Leak Disaster (Processing of Claims) Act 1985 [Section 10 (10BB)]

19A. Compensation received in case of any disaster [Section 10(10BC) ]

20. Retirement Compensation from a Public Sector Company or any other Company [Section 10 (10C)]

21. Income by way of tax on perks [Section 10(10CC)]

22. Any sum received under a life insurance policy [Section 10(10D)]

23. Payment from Statutory Provident Fund [Section 10(11)]

24. Payment from Recognised Fund [Section 10(12)]

25. Payment from Superannuation Fund [Section 10(13)]

26. House Rent Allowance [Section 10(13A) Read with Rule 2A]

27. Any Allowance given for meeting Business Expenditure [Section 10(14)]

28. Interest Incomes [Section 10(15)]

29. Lease rental income of a foreign government or foreign enterprise from leasing of aircraft/aircraft engine to an Indian company [Section 10(15A)]

30. Scholarship [Section 10(16)]

31. Allowance of M.P./M.L.A.Ior M.L.C. [Section 10(17)]

32. Awards Instituted by Government [Section 10(17A)]

33. Pension received by certain winners of gallantry awards [Section 10(18)]

34. Family pension received by family members of armed forces including para military forces [Section 10(19)]

35. Income from one palace of a former ruler [Section 10(19A)]

36. Income of a local authority [Section 10(20)]

37. Income of scientific research association [Section 10(21)]

38. Income of a News Agency [Section 10(22B)]

39. Income of some Professional Institutions [Section 10(23A)]

40. Exemption of Income Received by Regimental Fund [Section 23AA]

41. Income of a Fund set-up for the welfare of employees or their dependents [Section 10(23AAA)]

42. Income of a pension fund set up by LIC or other insurer [Section 10(23MB)]

43. Income of Institutions established for development of Khadi and Village Industries [Section 10(23B)]

44. Income of State Level Khadi and Village Industries Board [Section 10(23BB)]

45. Income of certain Authorities set up to manage Religious and Charitable Institutions  [Section 10(23BBA)]

46. Income of European Economic Community [Section 10(23BBB)]

47. Income of a SAARC Fund for regional projects [Section 10(23BBC)]

48. Any income of Insurance Regulatory and Development Authority [Section 10(23BBE)]

49. Income of Prasar Bharti [Section 10(23BBH)] [Inserted by the Finance Act 2012, w.e.f. 2013-14]

50. Any income received by a person on behalf of following Funds [Section 10(23C)]

51. Income of Mutual Fund [Section 10(23D)]

52. Exemption of income of a securitisation trust [Section 10(23DA)j [w.e.f. A.Y. 2014-15]

53. Income of Investor Protection Fund [Section 10(23EA)]

54. Income of the Credit Guarantee Trust for Small Industries [Section 10(23EB)]

55. Exemption of income of investor protection fund of depository [Section 10(23ED)] [w.e.f. A.Y. 2014-15]

56. Exemption for Certain Incomes of a Venture Capital Company or Venture Capital Fund from Certain Specified Business or Industries [Section 10 (23FB)]

57. Income of Registered Trade Unions [Section 10(24)]

58. Income of Provident and Superannuation Funds [Section 10(25)]

59. Income of Employee’s State Insurance Fund [Section 10 (25A)]

60. Income of Schedule Tribe Members [Section 10(26) and 10(26A)]

61. Income of Sikkimese individual [Section 10(26AAN] (With retrospective effect from 1-4-1990)

62. Regulating the marketing of agricultural produce [Section 10[26AAB]

63. Income of a corporation set-up for promoting the interests of Scheduled Castes, Scheduled Tribes or Backward Classes [Section 1 0(26B)]

64. Income of a corporation set-up to protect the interests of Minorities [Section 10(26BB)]

65. Any income of a corporation for ex-servicemen [Section 10(26BBB)]

66. Income of cooperative society looking after the interests of Scheduled Castes or Scheduled Tribes or Both [Section 10(27)]

67. Any income accruing or arising to Commodity Boards etc. [Section 10(29A)]

68. Amount received as subsidy from or through the Tea Board [Section 10(30)]

69. Amount received as subsidy from or through the concerned Board [Section 10(31)]

70. Income of child clubbed uls 64 (IA) [Section 10(32)]

71. Income from transfer of capital assets of UTI [Section 10(33)]

72. Income by way of dividend from Indian company [Section 10(34)]

73. Exemption of income to a shareholder on buyback of shares of unlisted company [Section 10 (34A) [w.e.f. A.Y. 2014-15]

74. Income from units of UTI and other mutual funds [Section 10(35)]

75. Exemption of income from securitisation trust [Section 10(35A)] [w;e.f A.Y. 2014-15]

76. Income from sale of shares in certain cases [Section 10(36)]

77. Capital Gain on compulsory acquisition of urban Agricultural Land [Section 10(37)]

78. Long Term Capital Gain on transfer of shares and securities covered under Security Transaction Tax (STT) [Section 10(38)]

79. Income from international Sporting event [Section 10(39)]

80. Income received as grant by a subsidiary company [Section 10(40)]

81. Income from transfer of asset of an undertaking engaged in the business of generation, transmission or distribution of power [Section 10(41)]

82. Income of a body or authority set up by two countries [Section 10(42)]

83. Reverse Mortgage [Sec. 10(43)]

84. New Pension System Trust [Sec. 10(44)]

85. Exemption of Allowance or perquisite to chairman/member of UPSC [Section 10 (45)]

86. Exemption of ‘specified income’ of certain bodies or authorities [Section 10(46)]

87. Exemption of Income of notified ‘Infrastructure debt fund’ [Section 10(47)]

88. Exemption of Income of a foreign company from sale of Crude Oil in India [Section 10 (48)]

89. Exemption of income of National Financial Holdings Company [Section 10(49)] [w.e.f. A.Y. 2014-15]
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RTP Download Nov 2016 CA IPCC CA Final May 2017

CA IPCC RTP for Nov 2016 and CA Final RTP for 2016 exam are made available here. Revision Test Papers (RTPs) are official books released by ICAI for each examination attempt. These RTPs will also contain all the relevant Amendments, Circulars and Notifications applicable for that particular examination.
RTPs are very important for exam because, it is estimated that, almost 10-15 marks in each exam will be asked from these RTPs only. RTPs also helps students to revise their subject.
Revision Test Papers for November 2016 exam has already been made available by ICAI at all local branches. Students can also get the RTPs from ICAI Online Book Store. Once you order the RTPs online, ICAI will dispatch the books in week and you will receive the RTPs in 4 more days.
RTPs are exclusive to each attempt. This means, RTPs released for May 2016 exam may not be relevant for Nov 2016 exam. Similarly, RTPs released for Nov 2016 exam will not in any way be useful for the next May 2017 exams. The price of CA IPCC RTP and CA Final RTP for Nov 2016 is the same.

Download RTP for Nov 2016

IPCC RTP Nov 2016

CA Final RTP Nov 2016

AccountsFinancial Reporting
Costing and FMAuditing
TaxationCorporate Law
Advanced AccountsAMA
IT and SMDirect Tax
ICAI Feedback FromIndirect Tax

Mistake in CA final IDT RTP Nov 2016

Paper 8: Indirect Tax Laws of Revision Test Paper [Group II] for November, 2016 Examinations – Printed copy
For answer to Q. 10 on page no. 86, students are advised to refer to the answer to said question as appearing in the Revision Test Paper [Group II] for November, 2016 Examinations web hosted on the BoS Knowledge Portal of the ICAI website.
Latest RTP Download

Download RTP for May 2016

IPCC RTP May 2016

CA Final RTP May 2016

AccountsFinancial Reporting
Costing and FMAuditing
TaxationCorporate Law
Advanced AccountsAMA
IT and SMDirect Tax
ICAI Feedback FromIndirect Tax

Advantages of Preparing from RTP

  1. Quick Revision of the subject
  2. Easy Scoring of Marks
  3. Confidence booster
  4. Knowing Amendments
  5. best for practical subjects
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Electricity Companies Excluded from CA IPCC Syllabus Nov 2016

Electricity comapnies chapter excluded syllabus ca ipcc.jpgElectricity Companies Excluded from Syllabus applicable for Nov 2015 exams:

The topic of “Financial Reporting of Electricity Companies” would be excluded from the syllabus of Intermediate (IPC) Paper 5 : Advanced Accounting and the same would not be applicable from November, 2015 Examination.
It is further clarified that these topics were permenantly excluded from CA IPCC syllabus and will not be applicable for exam there after.

Additional Director
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General Meetings Companies Act 2013 Procedure

Annual General Meeting Companies Act 2013 Convening the Meeting Proxy Chairman Frequency Voting Quorum


Authority to call general meeting: Board of Directors. If they fail, any Member of the company may approach the prescribed authority, which may then direct the calling of the Annual General Meeting of the company.

Authority to call Extra-ordinary general meeting: Board of Directors whenever deems fit or on the requisition of Members call an Extra-ordinary General Meeting of the company.

Notice: Notice in writing of every Meeting shall be given to every Member of the company, Directors, Auditors, Secretarial Auditor, Debenture Trustees, or to other specified persons. Display 
notice on company’s website.

Notice of Extra Ordinary General Meeting Companies Act 2013Notice shall be sent by hand /ordinary post/ speed post/registered post/courier/ facsimile/e-mail or other electronic means. (use a system which produces confirmation of total number of recipi
ents e-mailed and a record of each recipient to whom the Notice has been sent and copy of such record and any Notices of any failed transmissions and subsequent resending shall be retained by or on behalf of the company as ‘‘proof of sending’’.)

If a Member requests for delivery of Notice through a particular mode & he paid fees for that notice shall be sent to him in such mode.

Notice shall specify the day, date, time and full address (including route map and prominent land mark) of the venue of the Meeting.

Meetings hours: 9 a.m. to 6 p.m., not a National Holiday. Meeting called by the requisitionists: only on a working day.

AGM & Meeting called by requisitionists shall be held either at registered office or other place within the city/town/village in which the registered office is situated. Other General Meetings may be held at any place within India.

Notice may contain a statement that a Member entitled to appoint a Proxy. Further it specify the nature of the Meeting, business to be transacted thereat, resolution for each special item along with explanatory statement, resolutions are not required for Ordinary business except where the Auditors or Directors to be appointed are other than the retiring Auditors or Directors, as the case may be.

Disclose interest of any director, KMP, relatives of such in explanatory statement. If any item of Special Business to be transacted at a Meeting relates to/affects any other company, the extent of shareholding interest in that other company of every Promoter, Director, Manager, KMP of the first mentioned company shall, if the extent of such shareholding is not less than 2% of paid-up share capital of that company, also be stated in the explanatory statement.

If reference is made to any document, the MOA or AOA, explanatory statement shall state that such documents are available for inspection during specified business hours at the Registered Office and copies thereof shall also be made available for inspection.

Explanatory statement shall contain  appointment/ re-appointment/ fixation remuneration of Directors/ M.D./Executive Director/WTD/Manager; variation of the terms of remuneration; details of each such Director or Manager, including age, qualifications, experience; terms and conditions of appointment/ re-appointment, details of remuneration, remuneration last drawn, date of first appointment on the Board, shareholding in the company, relationship with other Directors, manager, KMP; the number of Board Meetings attended during the year and other Directorships, Membership/ Chairmanship of Committees of other Boards; justification for choosing the appointees for appointment as Independent Directors; in case of re-appointment of Independent Directors, performance evaluation report of such Director or summary thereof.

Notice & accompanying documents (including subsequent amended notice) shall be given at least 21 clear days in advance of the Meeting. In case a valid special received from Member(s), give Notice of the Resolution to all Members at least 7 clear days before the Meeting, if not possible published in newspaper.

Notice at shorter period if consent in writing is given by not less than 95% of the Members.

No business shall be transacted at a Meeting if Notice in accordance with this Standard has not been given. However, any accidental omission shall not invalidate the proceedings of the Meeting. No items of business other than those specified in the Notice and those specifically permitted under the Act shall be taken up at the Meeting.

Notice shall be accompanied by attendance slip, Proxy form with clear instructions.

A Meeting convened upon due Notice shall not be postponed or cancelled. If, for reasons beyond 
the control, the Board may reconvene the Meeting to transact the same business as specified in the original Notice, by giving not less than 3 days intimation to the Members.

One in each calendar year, within 6 months of the close of the financial year, with an interval of not more than 15 months between two successive AGMs. The aforesaid period may be extended by a period not exceeding 3 months with the prior approval of the ROC.

Quorum Annual General Meeting Minimum Companies Act 2013 Amendments For public company— 5 Members personally present if the number of Members as on the date of Meeting is not more than 1000; 15 if more than 1000 but up to 5000; 30 if exceeds 5000.

Quorum shall be present throughout the meeting. Proxies shall be excluded for determining the Quorum.

A representative of body corporate or the President of India or Governor of a State is deemed to be a Member personally present & enjoys all rights of a Member present in person.

• Directors: If any Director is unable to attend the Meeting, Chairman shall explain such absence at the Meeting. Chairman of the Audit Committee, Nomination and Remuneration Committee and the Stakeholders Relationship Committee, or any other Member of any such Committee authorized by the Chairman of the Committee to attend on his behalf, shall attend the General Meeting.

Auditors:  Auditors including Secretarial Auditor, (unless exempted by the company) or his representative shall attend shall have the right to be heard at such Meetings.

If Chairman is not present within 15 minutes after the time appointed for holding the Meeting, or if he is unwilling to act as Chairman, or if no Director has been so designated, the Directors present shall elect one of themselves to be the Chairman. If no Director is present within 15 Minutes, or is not willing to take the chair, Members present shall elect on a show of hands one of th
Chairman General Meeting Casting Vote CA Rockers
emselves to be the Chairman, unless otherwise provided in the Articles.

Chairman shall explain the objective and implications of the Resolutions before they are put to vote at the Meeting. If Chairman is interested in any item of business, he shall entrust the conduct of the proceedings in respect of such item to any non-Interested Director/ Member, with the consent of the Members present, and resume the Chair after that item of business has been transacted.

Member entitled to attend & vote is entitled to appoint a Proxy. Proxy Instrument is valid only if it is properly stamped. Proxy form which does not state the name of Proxy, Undated Proxy shall be invalid. Proxy-holder shall prove his identity at the time of attending the Meeting.

If a company receives multiple Proxies for the same holdings of a Member, last dated proxy shall be considered valid. Proxies shall be deposited not later than 48hrs before the commencement of the Meeting and a Proxy shall be accepted even on a holiday if the last date by which it could be accepted is a holiday.

Member who has not appointed a Proxy, may appoint a Proxy for any adjourned Meeting, not later than 48 hours before the time of such adjourned Meeting, If the Articles so provide.

Proxy is valid until written notice of revocation has been received before the commencement of the Meeting/ adjourned meeting. If Proxy is appointed for original meeting and such meeting is adjourned, any Proxy given for the adjourned Meeting revokes the Proxy given for the original Meeting.

Time duration for Inspection of proxies - 24 hours before the commencement of the Meeting and till the conclusion of the meeting. (9 a.m. and 6 p.m.)

Proxies received by the company shall be recorded chronologically in a register. In case any Proxy entered in the register is rejected, the reasons there for shall be entered.

Resolutions shall be proposed by a Member and seconded by another Member.

Listed company shall provide e-voting facility to their Members. (Facility of e-voting does not dispense with the requirement of holding a General Meeting by the company.) Ev
Voting in General Meetings Voting by Postal Ballot Voting by Show of hands Electronic Voting
ery company, which has provided e-voting facility, shall also put every Resolution to vote through a ballot process at the Meeting. Proxy can vote in the ballot process.

Company shall at the Meeting put every Resolution (except which has been put to e-voting) to vote on a show of hands at the first instance, unless a poll is validly demanded. (Proxy cannot vote on a show of hands)

Chairman shall order a poll upon receipt of a valid demand for poll either before or on the declaration of the result of the voting on any Resolution on show of hands. Poll in such cases shall be through a Ballot process. While a Proxy cannot speak at the Meeting, he has the right to demand or join in the demand for a poll. The poll may be taken by the Chairman, on his own motion also.

Every Member holding equity shares and, in certain cases as prescribed in the Act, every Member holding preference shares, shall be entitled to vote on a Resolution.

Member who is a related party is not entitled to vote on a Resolution relating to approval of any contract or arrangement in which such Member is a related party.

Chairman shall have a second or casting vote. ( Unless otherwise provided)

Electronic Voting Annual General Meetings e-voting procedure Companies Act 2013CONDUCT OF E-VOTING
Company providing e-voting facility shall offer such facility to all Members, irrespective of (whether they hold shares in physical form or in dematerialized form.) The facility for Remote e-voting shall remain open for not less than 3 days; voting period shall close at 5 p.m. on the day preceding the date of the General Meeting.

Board Approval - The Board shall- appoint one or more scrutinizers for e-voting or ballot process, the scrutinizer may be a C.S./C.A/C.W.A in Practice, or an Advocate or any other person not in the employment of the company; appoint an Agency; decide the cut-off date for the purpose of identifying members who are entitled to voting rights; authorize Chairman to receive the scrutinizer’s register, report on e-voting and other related papers with requisite details.

Notice shall contain information regarding procedure of e-voting. Notice of the Meeting, wherein the facility of e-voting is provided, shall be sent either by registered post/ speed post/ courier/ e-mail or by any other electronic means.

An advertisement containing prescribed details shall be published, after dispatch of notices for meeting but at least 21 days before the date of the General Meeting in newspaper. Advertisement shall also be displayed on the website till the date of General Meeting.

On the receipt of scrutinizer’s report Chairman/ Director shall countersign the scrutinizer’s report and declare the result of the voting forthwith with all details.

Result shall be displayed on the Notice Board of the company at its Registered Office or Head

Office/ Corporate Office & on the website of the company.

Resolution passed by a requisite majority shall be deemed to have been passed on the date of the relevant General Meeting

Scrutinizers’ register, report and other related papers shall be kept in the custody of the Company Secretary.

When a poll is demanded on any Resolution, chairman will verify and order the poll forthwith if it is demanded on the question of appointment of the Chairman or adjournment of the Meeting and, in any other case, within forty-eight hours of the demand for poll.

Poll which is not taken immediately Chairman shall announce the date, venue & time of taking the poll (or within 24 hours of closure of the Meeting.). Chairman may permit any Member who desires to be present at the time of counting of votes.

Each Resolution put to vote by poll shall be put to vote separately. One ballot paper may be used for more than one item.

Chairman shall appoint scrutinizers, who may include a C.S./C.A/C.W.A in Practice, or an Advocate or any other person not in the employment of the company. At least one of the scrutinizers shall be a Member who is present at the Meeting, provided such a Member is available and willing to be appointed.

Based on the scrutinizer’s report, Chairman Shall countersign & declare the result (with details) of the poll within 2 days of the submission of report by the scrutinizer.

Result of the poll shall deem to be the decision of the Meeting on the Resolution on which the poll was taken.

Resolutions for items of business which are likely to affect the market price of the securities & resolution proposed for consideration through e-voting shall not be withdrawn.

A resolution passed at a meeting shall not be rescinded otherwise than by a resolution passed at a subsequent Meeting.

Modification of resolution which does not change the purpose of the Resolution materially can be carried out by majority at the meeting and then the modified resolution shall be proposed, seconded and put to vote. Modification shall not be made if it in alters the substance of the Resolution as set out in the Notice. No modification shall be made to any resolution which has already been put to vote by Remote e-voting before the Meeting.

Qualifications, observations , remarks on the financial transactions or matters which have any adverse effect on the functioning of the company mentioned in the Auditor’s Report & Secretarial Audit shall be readout at the AGM and attention of Members present shall be drawn to the explanations / comments given by the Board of Directors in their report.

No gifts, gift coupons, or cash in lieu of gifts shall be distributed to Members at or in connection with the Meeting.

Duly convened Meeting shall not be adjourned unless circumstances so warrant. Chairman may adjourn a meeting with the consent of the Members, at which a Quorum is present, and if so directed by the Members.

Meetings shall stand adjourned for want of requisite Quorum.

Chairman may adjourn a Meeting in the event when it becomes impossible to conduct the Meeting and complete its business.

If Meeting is adjourned sine-die or for a period of 30 days or more, Notice of the adjourned Meeting shall be given. If Meeting is adjourned for a period of less than 30 days, company shall give not less than 3 days Notice specifying the day, date, time and venue of the Meeting, either individually or in 

If  Meeting, other than a requisitioned Meeting, stands adjourned for want of Quorum, the adjourned Meeting shall be held on the same day, in the next week at the same time and place or on such other day, not being a National Holiday, or at such other time and place as may be determined by the Board.

If a Meeting is adjourned for want of a Quorum to the same day on the next week, at the same time and place or with a change of day, time or place, the company shall give not less than 3 days.

If at an adjourned Meeting, Quorum is not present within half an hour from the time appointed, the Members present, being not less than 2, will constitute the Quorum.

If, within half an hour from the time appointed for holding a Meeting called by requisitionists, a Quorum is not present, the Meeting shall stand cancelled.

At an adjourned Meeting, only the unfinished business of the original Meeting shall be considered.

Listed company shall provide facility to its Members in respect of those items, which are required to be transacted through postal ballot.

The Board shall: identify the businesses to be transacted;  approve the Notice incorporating proposed Resolutions and explanatory statement; authorize the Company Secretary to conduct postal ballot process and sign and send the Notice along with other documents; appoint one scrutinizer for the postal ballot; appoint an Agency in respect of e-voting for the postal ballot; decide the record date for reckoning Voting Rights and ascertaining those Members to whom the Notice and postal ballot forms shall be sent. Only Members as of the record date shall be entitled to vote on the proposed Resolution by postal ballot.

Notice (accompanied by the postal ballot form with the necessary instructions)of the postal ballot shall be given in writing to every Member of the company, Directors, Auditors, Secretarial Auditor, Debenture Trustees, other specified recipients. Advertisement/notice containing prescribed details shall be published newspaper & website also.

Notice shall- specify the day, date, time and venue where the results of the voting by postal ballot will be announced and the link of the website where such results will be displayed & also inform the Members about availability of e-voting facility, if any, and provide necessary information thereof to enable them to access such facility.

Each item proposed to be passed through postal ballot shall be in the form of a Resolution and shall be accompanied by an explanatory statement.

Postal ballot forms: shall be accompanied by a postage prepaid reply envelope addressed to the scrutinizer. A single postal ballot Form may provide for multiple items of business to be transacted.

Postal ballot form shall be considered invalid if: form other than one issued by the company has been used; It has not been signed member; Signature doesn’t match; not possible to determine assent or dissent; Neither assent nor dissent is mentioned; competent authority given directions in writing to freeze the Voting Rights of the Member; postal ballot form received after the last date; postal ballot form, signed in a representative capacity, is not accompanied by a certified copy of the relevant specific authority; received from a Member who is in arrears; defaced or mutilated so that identity cannot be established; Member has made any amendment to the resolution or imposed any condition while exercising his vote.

Based on the scrutinizer’s report, Chairman Shall countersign & declare the result (with details)
The result of the voting with details of the number of votes cast for and against the Resolution, invalid votes and whether the Resolution has been carried or not, along with the scrutinizer’s report shall be displayed on the Notice Board of the company at its Registered Office and its Head Office as well as Corporate Office, if any, if such office is situated elsewhere, and also be placed on the website of the company, in case of companies having a website.

The postal ballot forms, other related papers, register and scrutinizer’s report shall be kept in the custody of the Company.

Resolution passed by postal ballot shall not be rescinded otherwise than by a Resolution passed subsequently through postal ballot.

No amendment or modification shall be made to any resolution circulated to the Members for passing by means of postal ballot.

Minutes shall be recorded in books. Distinct minutes book shall be maintained for Meetings of the Members of the company, creditors and others as may be required under the Act.

 Resolutions passed by postal ballot shall be recorded in the Minutes book of General Meetings.

Minutes may be maintained in physical or electronic form (with Timestamp). The pages of the Minutes Books shall be numbered. In the event any page or part thereof in the Minutes Book is left blank, it shall be scored out and initialed by the Chairman who signs the Minutes.

Minutes shall not be pasted or attached to the Minutes Book, or tampered with in any manner. Minutes, if maintained in loose-leaf form, shall be bound.
Minutes Books shall be kept at the Registered Office or at such other approved place.
Contents of the minutes will be general and specific.
In respect of Resolutions passed by e-voting or postal ballot, a brief report including the Resolution proposed, the result of the voting hereon and the summary of the scrutinizer’s report shall be recorded in the Minutes Book and signed by the Chairman within 30 days from the date of passing of Resolution by e-voting or postal ballot.
Minutes shall contain a fair and correct summary of the proceedings of the Meeting. It shall be written in clear, concise and plain language. Each item of business taken up at the Meeting shall be numbered.
Minutes shall be entered in the Minutes Book within 30 days from the date of conclusion of the Meeting & date of entry of the Minutes in the Minutes Book shall be recorded by the Company Secretary.
Minutes, once entered in the Minutes Book, shall not be altered.
Minutes of a General Meeting shall be signed and dated by the Chairman of the Meeting within 30 days of the General Meeting. Chairman shall initial each page of the Minutes & sign and put date on the last page where he has signed the Minutes.
Directors, Members, C.S. in Practice, Secretarial/ Statutory/ Cost Auditor/ Internal Auditor are entitled to inspect the Minutes, during business hours of the company, without charge, subject to reasonable restrictions.
Extract of minutes shall be given only after the minutes have been duly signed (otherwise certified by the Chairman or any Director or the Company Secretary).
 Minutes of all Meetings shall be preserved permanently & shall be kept in the custody of the Company Secretary
Office copies of Notices, scrutinizer’s report, and related papers shall be preserved for as long as they remain current or for 8 financial years, whichever is later and may be destroyed thereafter with the approval of the Board.
Listed company shall prepare a report on Annual General Meeting in the prescribed form, including a confirmation that the Meeting was convened, held and conducted as per the provisions of the Act.
The Annual Return of a company shall disclose the date of Annual General Meeting held during the financial year.

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CA Final ISCA Syllabus Changes Study Meterial Nov 2016

CA Final ISCA New Syllabus Notes Amendments Changes
Recent Changes and Amendments in Information Systems Control and Audit (ISCA) Syllabus for CA Final Students:

ICAI has recently made amendments in the ISCA Study Material by including new topics into the current syllabus and also removing certain topics.

The new Chapters in ISCA are as follows:

ISCA Chapter 1: Concepts of Governance and Management of Information Systems
ISCA Chapter 2: Information Systems Concepts
ISCA Chapter 3: Protection of Information Systems
ISCA Chapter 4: Business Continuity Planning and Disaster Recovery Planning
ISCA Chapter 5: Acquisition, Development and Implementation of Information Systems
ISCA Chapter 6: Auditing of Information Systems
ISCA Chapter 7: Information Technology Regulatory Issues
ISCA Chapter 8: Emerging Technologies

Download ISCA New and Amended Study Material below with new syllabus:

ISCA Chapter 1 Study Material: Concepts of Governance and Management of Information Systems

ISCA Chapter 2 Study Material : Information Systems Concepts

ISCA Chapter 3 Study MaterialProtection of Information Systems

ISCA Chapter 4 Study Material : Business Continuity Planning and Disaster Recovery Planning

ISCA Chapter 5 Study Material: Acquisition, Development and Implementation of Information Systems

ISCA Chapter 6 Study Material:Auditing of Information Systems

ISCA Chapter 7 Study Material: Information Technology Regulatory Issues

ISCA Chapter 8 Study Material: Emerging Technologies

Download ISCA New and Amended Practice Manual below with new syllabus:

ISCA Chapter 1 Practice Manual: Concepts of Governance and Management of Information Systems

ISCA Chapter 2 Practice Manual: Information Systems Concepts

ISCA Chapter 3 Practice ManualProtection of Information Systems

ISCA Chapter 4 Practice Manual: Business Continuity Planning and Disaster Recovery Planning

ISCA Chapter 5 Practice Manual: Acquisition, Development and Implementation of Information Systems

ISCA Chapter 6 Practice ManualAuditing of Information Systems

ISCA Chapter 7 Practice Manual: Information Technology Regulatory Issues

ISCA Chapter 8 Practice Manual: Emerging Technologies

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Industrial Training Vacancy Chennai Aditya Birla Money

Industrial Training in Chennai for CA Students CA Final qualifiedIndustrial Training Vacancy in Aditya Birla Money, Chennai:

Young, Energetic and Ambitious candidates having good communication skills Candidate will work under multiple are asincluding core accounts, MIS, taxation.
Vacancies at corporate office, Chennai

How to apply:
Send your CV to revathy.a@adityabirla.com

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GMCS Next Batch ITT Orientation Batch Details

GMCS, ITT and Orientation Next batch seats available in the following cities:

Next GMCS Batch Available ITT OrientationAMRITSAR, Bathinda, Chandigarh, Faridabad, Gurgaon, Shimla, Hisar, Jalandhar, Jammutawi, Karnal, Ludhiana, Panipat, Lewer Mall, Rohtak, Sonepat, Yamunanagar, Sangur, Agra, Ajmer, Allhabad, Alwar, Bareilly, Bhilai, Bhopal, Bhilwara, Bikaner, Bilaspur, Dehradun, Dhanbad, Gaziabad, Gorakhpur, Gwalior, Indore, Ahmedabad, Ahmednagar, Akola, Anand, Aurangabad.

Vadodara, Bharuch, Panjim, Jalgaon, Jamnagar,  Kolhapur, Nagpur, Nashik, Navi Mumbai, Pune, Rajkot, Sangli, Solapur, Surat, Thane, Amravati, vapi, Gandhidham, Bhavnagar, ALAPPUZHA, BANGALORE, Bellary, Belagaum, Kochi, Erode, Guntur, Hubli, Hyderabad, Kakinada, Kottayam, Kumbakonam, Madurai, Mangalore, Mysore.

Nellore, PALAKKAD, PUDUCHERRY, Kollam, Rajumundry, salem, TIRUCHIRAPALLI, Tirichi, TIRUNELVELI, TIRUPUR, Trichi, TRICHUR, THIRUVANANTHA PURAM –, Trivendrum, TUTICORIN, UDUPI, Vellore, Vijayawada, Vizag, Visakhapatnam, Tirupathi

What is General Management & Communication Skills (GMCS) Course? 

General Management & Communication Skills Course is 15 days full time course introduced to equip the entrants to the profession with interpersonal and management skills. This course is a prerequisite for membership enrolment of the Institute under regulation 51A/72A

GMCS ITT Orientation Delhi Hyderabad Kolkata Mumbai Chennai Chandigarh Ahmedabad Bangalore Pune Indore Gurgaon What is the eligibility for attending GMCS Course?

 (i) A student who has passed Intermediate / Professional Education (Examination – II) and registered in Final Course and either has completed practical training or is serving last 12 months of practical training is eligible to undergo the course. (ii) A student who has passed Professional Competence Course / Integrated Professional Competence Course and registered for Final Course and either has completed practical training or is serving last 12 months of practical training is eligible to undergo the course.

What is the exception for the students who attend Four Weeks Residential Programme? 

GMCS ITT Orientation batches available next Online RegistrationA student who completes Four Weeks Residential Professional Skills Development programme organized by the Board of Studies will not be required to undergo GMCS Course.

What is the fee structure for attending GMCS Course? 

The fees for attending GMCS Course shall not exceed Rs.5500/- per student (w.e.f. 1st July, 2013) on non-residential basis inclusive of course and study materials. The fee structure does not apply to Dubai Overseas Office.

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IPCC Group-1 Important Topics Questions Chapters Nov 2016

CA IPCC Group-1 Important Topics Nov 2015

CA IPCC Group-1 Important questions / Chapters / Topics for Nov 2015 exams, Important Subject Topics Preparation Tips of Group 1 Accounting, Law, Costing and FM and Taxation

(Extracts of notes by previous toppers)

CA IPCC Taxation paper Tips, Important Topics:

Important Topics in Chapter 3: Income which do not form part of Total Incomes:

  • Section 10(1): Agricultural Income
  • Section 10AA: Tax Holiday for SEZs
  • Section 10(10BC): Compensation received by an Individual or his legal heir on account of any disaster.
  • Section 10(2A): The Partner's share in total income of the LLP.

Important Topics in Clubbing of Income:

  • Section 64(1)(iv): Income arising to spouse from assets transferred without adequate consideration.
  • Section 64(1)(ii): Income arising to spouse by way of remuneration from a concern in which the individual has substantial interest.
  • Section 64(1A): Income of Minor child.

Important Topics in Income from Salaries:

  • Section 10(13A): House Rent Allowance
  • Section 10(14)(ii): Children Education allowance
  • Section 10(10): Gratuity
  • Section 10(5) : Leave Travel Concession.
  • Section 16(iii) - Professional Tax

Important Topics in Income from Business or Profession chapter:

  • Section 32: Depreciation
  • Section 35: Expenditure on Scientific Research
  • Section 37(1) : General Deductions

Accounting Important Chapters, Questions:

IPCC Accounts Important Topics Notes Questions
Group-I Accounting is all about common sense. This is one of the important subjects, because, it helps a lot in securing the required aggregate marks in the group. A few recent facts are stated below:

On a sample survey of last four IPCC exams, it was found out that, if you take 100 students who have secured exemption in Group 1, among those 100, a staggering 60-70 number of exemptions have come from the Accounting subject.

In another survey of students who failed in the Nov 2013 exam but got an exemption in one or more subject, there are 68% students who have got their exemption only in Accounting.

The trick is choosing a wise material. Recent toppers have stated that, ICAI’s practice manual is the best and that’s what makes the difference.

Important Chapters/Topics:

  • Partnership – Retirement
  • Single Entry
  • Insurance for loss of Profit
  • AS 6,9 and 10

Law Ethics and Communication Important Topics:

IPCC Law Important Questions Topics Notes Amendments
We have conducted a survey of 160 students who have secured exemption in Law. Below are a few notes they have made:

Side-headings, Side-headings and Side-headings. 56% of the students have told the same thing. The importance of sub-headings. Once you write a suitable sub-heading, the examiner will have no need to go into the matter.

70% of the students have given the credit to Ethics and Communications.  Ethics and Communications have a comparatively very much smaller syllabus. Combined reading based on sub-headings have got them the success.

For Law, most of the students have credited the need of ICAI Practice Manual.

Important Chapters/Topics:

  • Meetings, Incorporation
  • Workplace Ethics, Ethics in Accounting and Finance
  • Communication channels and Ethics

Download Law, Ethics Notes for Revision

Costing and FM Important Chapters:

Recent stats say that, out of the students who have failed Group-1, 72% have failed in Costing and FM along with some other subject, and 46% students failed only in Costing and FM.

This subject has two shades. It has been a boon for a set of students and for some, it has been a curse.
So we decided to go deep into the matter and have inquired 300+ students, which includes students who have been failing this subject for at least two attempts and students who have got exemptions. We also extracted much needed info from a student from Vijayawada who scored 86 in this subject.

Almost all the students who succeeded in this have noted the same point, PRACTICING WITH PEN AND A BOOK. A close analysis of the preparation style of students who have been failing revealed that, most of them were just going through the questions and not putting them on to the paper.  Not just Seeing, PRACTICE, PRACTICE and PRACTICE. By looking at the book, it looks like everything is ok, but once you put the pen on the paper, it wont move after two steps.

Second point is the presentation. Costing is all about presentation. You may bring the solution, but unless you present it in a format, you are not going to score marks. We have obtained the certified copies of a few students which revealed the same.

Important Chapters/Topics:

  • Material Cost
  • Contract Costing
  • Marginal Costing
  • Joint and By Products (Theory)
Financial Management:
  • Cost of Capital
  • Cash Flow Statement
  • Management of Working Capital

Taxation Important topics

Exam point of view, the first thing you need to start and finish is VAT, and then Service Tax and then move on to Income Tax.

There have been plenty of amendments in Service Tax and recent Practice Manual is well updated with all the changes and very good practical questions.

Most important point you should remember while preparing for Taxation is, NEVER READ A BULK OF SYLLABUS IN A SINGLE DAY. Taxation is a tricky subject who should be prepared over a period of time. Don’t finish topics in a single stretch. For that day you may feel like you got that but after a week, everything comes to the starting point. Slow and Steady.

Killer tip: Go though Amendments made in Finance Act, 2013. A minimum of 50-55 Marks will be covered from those topics only.

Important Chapters/Topics:

  • Residential status, Clubbing, House Property
  • ST: Valuation, POT, Returns
  • VAT: Calculation  and procedures
Important Theory Questions:
  • Service Tax @ Life Insurance business
  • Benefits of Composition scheme under VAT
  • Advance Payment of Tax on Capital Gains (5M)
  • Deduction u/s 80CCG
  • Section 197A (1F)
  • Service Tax on Vocational Course offered by Govt Org
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