CA Final Nov 2014 Amendments of Law, DT, IDT


CA Final Nov 2014 amendments are updated here for DT & IDT. ICAI has not officially updated CA Final amendments for Nov 2014 yet. But I have given few updates for CA Final Nov 2014 amendments below. For more updates, stay tune with CAcracker !!!

As you know CA Exams are aiming for excellency in your working knowledge with the help of latest rules, regulation and amendments to let one stay updated. So it becomes vital for a CA student to be aware of latest amendments for CA Final Nov 2013. CA exams are more practical, so students must be aware of latest news and announcement or amendment made applicable by ICAI for upcoming examination. Here I have tried to collect all the latest amendments for CA Final Nov 2014 examination. Share with your friends too.

Recommended Updates:-
>Download CA Final Study Material & Practice Manual (Useful for Nov 2014)

CA Final Nov 2014 Amendments

I will be updating CA Final Nov 2014 amendments for Law, DT, IDT very soon when ICAI will update it.


CA Final DT, IDT Amendments Nov 2014

ICAI has made available CA Final DT, IDT supplementary for Nov 2014 exam online. You can download it from the link given below.

Download links :

Direct Tax Laws for Nov 2014

Indirect Tax Laws for Nov 2014


To download it go to: >DT & IDT Supplementary Study Material for CA Final Nov 2014

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CA Final Amendments for Nov 2013 Examination

Below subject wise list CA Final Amendments for Nov 2013 examination are given. Print this page for last moment reference.

Paper 1: Financial Reporting

CA Final Accounting (financial reporting) amendments for Nov 2013 are given here.


A. Pronouncements 

I. Statements and Standards

1. Framework for the Preparation and Presentation of Financial Statements.

2. Accounting Standards – AS 1 to AS 32.

II. Guidance Notes on Accounting Aspects

1. Guidance Note on Treatment of Reserves created on Revaluation of Fixed Assets.

2. Guidance Note on Accrual Basis of Accounting.

3. Guidance Note on Accounting Treatment for Excise Duty.

4. Guidance Note on Terms Used in Financial Statements.

5. Guidance Note on Accounting for Depreciation in Companies.

6. Guidance Note on Availability of Revaluation Reserve for Issue of Bonus Shares.

7. Guidance Note on Accounting Treatment for MODVAT/CENVAT.

8. Guidance Note on Accounting for Corporate Dividend Tax.

9. Guidance Note on Accounting for Employee Share-based Payments.

10. Guidance Note on Accounting for Credit Available in respect of Minimum Alternate Tax under the Income Tax Act, 1961.

11. Guidance Note on Measurement of Income Tax for Interim Financial Reporting in the context of AS 25.

12. Guidance Note on Applicability of Accounting Standard (AS) 20, Earnings per Share.

13. Guidance Note on Remuneration paid to key management personnel – whether a related party transaction.

14. Guidance Note on Applicability of AS 25 to Interim Financial Results.

15. Guidance Note on Turnover in case of Contractors.

16. Guidance Note on the Revised Schedule VI to the Companies Act, 1956.


B. Announcements

1. Presentation of Foreign Currency Monetary Item Translation Difference Account (FCMITDA)

In the Revised Schedule VI format, no line item has been specified for the presentation of “Foreign Currency Monetary Item Translation Difference Account (FCMITDA)”. Therefore, the Council of the Institute at its 324th meeting held on March 24-26, 2013 at New Delhi, decided that debit or credit balance in FCMITDA should be shown on the “Equity and Liabilities” side of the balance sheet under the head ‘Reserves and Surplus’ as a separate line item.

2. Criteria for Classification of Entities and Applicability of Accounting Standards

Due to recent changes in the enhancement of tax audit limit, the Council of the ICAI has recently decided to change the 1st criteria i.e. determination of SME on turnover basis for Level II entities from Rs. 40 lakhs to Rs. 1 Crore with effect from the accounting year commencing on or after April 01, 2012.


1. Students are expected to have thorough knowledge of the Accounting Standards (AS 1 to AS 29) and Guidance Notes on various aspects issued by the ICAI.

2. As far as AS 30, 31 and 32 are concerned, in view of the complexities involved, the questions involving conceptual issues (not involving application issues) may be asked. Since a separate topic of ‘Financial Instruments’ is included in the curriculum, simple practical problems based on AS 30, 31 and 32 may be asked.

(Text of all applicable Accounting Standards and Guidance Notes are available in the Appendices, Volume II of Financial Reporting Study Material.)

Non-Applicability of Ind ASs for November 2013 Examination 

3. The Core Group was constituted by the Ministry of Corporate Affairs (MCA) for convergence of Indian Accounting Standards with International Financial Reporting Standards (IFRS). This Core Group decided that there will be two separate sets of Accounting Standards viz.

(i) Indian Accounting Standards converged with the IFRS (Known as Ind AS)

The MCA has hosted on its website 35 converged Indian Accounting Standards (Ind AS) without announcing the applicability date. These are the standards which are being converged by eliminating the differences of the existing Indian Accounting Standards vis-à-vis IFRS.

(ii) Existing Accounting Standards

The companies not falling within the threshold limits prescribed for Ind AS converged with IFRS compliance in the respective phases shall continue to use these standards in the preparation and presentation of financial statements.

Students may note that Ind ASs are not applicable for the students appearing in November, 2013 Examination.


Paper 3: Advanced Auditing and Professional Ethics amendments for CA Final Nov 2013

CA Final amendments for Auditing of Nov 2013 exam are given here.

1) Code of Ethics
2) All 44 Engagements and Quality Control Standards on Auditing (SQC/SA/SRS/SRE/SAE)
3) Statement on Reporting under Section 227 (1A) of the Companies Act, 1956.
4) Companies (Auditor’s Report) Order, 2003 (2005 Edition).
5) Total 21 Guidance Note.

Note: Guidance Note on Audit under section 44 AB of the Income-tax Act, 1961 (2005 edition) along-with the supplementary guidance note (excluding the portion relating to Fringe Benefit Tax Provisions) published in September, 2006.

Paper 4: Corporate and Allied Laws amendments for CA Final Nov 2013

Applicability of relevant Amendments/Circulars/Notifications/Regulations for CA Final Law  subject in November 2013, Examination

The Companies Act, 1956 Appointment of Cost Auditor by companies The Ministry of Corporate Affairs vide General Circular No. 36/2012 dated 6th November, 2012 has provided some changes in the procedure for the appointment of cost auditor under section 233B of the Companies Act, 1956 to be followed by the companies and the cost auditor. Circular_36_2012.pdf
The Companies Act, 1956 Companies (Directors Identification Number) Rules, 2006 The Ministry of Corporate Affairs vide Notification No. G.S.R. 173(E) dated 15th March, 2013 has issued Companies Directors Identification Number (Amendment) Rules, 2013 by amending the Companies (Directors Identification Number) Rules, 2006.
The SEBI Act, 1992 SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009 SEBI vide Notification No. LAD-NRO/GN/2012-13/18/5391 dated 12th October, 2012 has issued SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2012 by amending SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009. df


The Companies Act, 1956 Filing of Cost Audit Report and Compliance Report in XBRL mode The Ministry of Corporate Affairs vide General Circular No. 43/2012 dated 26th December, 2012 has decided that all cost auditors and the companies concerned are allowed to file their Cost Audit Reports and Compliance Reports for the year 2011-12 with the Central Government in the XBRL mode, without any penalty, within 180 days from the close of the company’s financial year to which the report relates or by January 31, 2013, whichever is later.


Non-Applicability of the following Amendments/Circulars/Notifications in Nov 2013 Examination

S.No. Subject Matter CA Final – Corporate and Allied Laws
1. Companies (Second Amendment) Act, 2002[relating to Winding up] Not Applicable [Only General Provisions of winding up as covered under Paragraph 9.4 of the study material is applicable for the examination. Students are being advised accordingly.]In view of the paradox of the new provisions relating to winding-up, as introduced by the Companies (Second Amendment) Act, 2002, have not yet fully been notified and proposed Bill on company law were contemplated upon one time or other, since now and then, it was thought that neither all the provisions relating to winding-up as contained in the existing Act, 1956 nor new provisions as introduced by the Companies (Second Amendment) Act, 2002 should not be made applicable from the view point of examinations. However, instead of making neither of them as applicable, there are certain practical common problems which students may study for the time being and those provisions/problems have been stated in the aforesaid para 9.4 of the study material. Though study material contains literature on the new law as per (Second Amendment) Act, 2002, questions will be based only on para 9.4 and not outside the same.
2. Provisions relating to Revival and Rehabilitation of Sick-Industrial Companies Not Applicable


Direct Tax DT & Indirect Tax IDT Amendments

(1)     The amendments made by the Finance Act, 2012 in Direct Tax Laws & Indirect TaxLaws;
(2)     The provisions of Direct Tax Laws as applicable for the assessment year 2013-14;
(3)     The significant notifications and circulars issued upto 30th April, 2013 (DTL and IDTL).

I will recommend you to check new study material and supplementary study material for CA Final Nov 2013 exams from beolw given links.

(The Study Materials of Direct Tax Laws and Indirect Tax Laws relevant for May, 2013 and November, 2013 examinations are updated based on the provisions of law as amended by the Finance Act, 2012 and significant circulars and notifications issued up to 30.6.2012. The amendments made by the Finance Act, 2012 and notifications and circulars issued between 1.7.2011 and 30.6.2012 are also separately discussed in the publication “Supplementary Study Paper-2012”. The publication “Select Cases in Direct and Indirect Tax Laws” relevant for November 2013 examination contains a discussion of recent significant select cases in Direct and Indirect Tax Laws.)

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10 thoughts on “CA Final Nov 2014 Amendments of Law, DT, IDT”

  1. my attempt in in nov14. i want to know as to from which attempt will new companies bill for law paper become applicable and also IFRS. plzzz do help me……its urgent coz i need to know whether i should join classes for these subjects now or later…

  2. What are the amendments in idt for nov.2013 wether the prov/applicable for may 2013 are also applicable for nov 2013

  3. what are the changes in syllabus of CA final from last attempt & whether these are applicable for Nov 2013

  4. pls mail me all the amendments for exam Ca final may 2014. whether IFRS applicable for Ca final may 2014…and also mail me the amendment related to auditing exam if any..

  5. Plz tell me if i dont qualify ca final in one attempt then how many attempts will be left . Plz plz hlp me

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