IPCC Amendments for Nov 2017 & Tax Updates (All Amendments)

CA IPCC Amendments for Nov 2017 Exam:

IPCC result May 2017 has been declared. The students who gonna appear for the first time in upcoming IPCC Nov 2017 exam are already searching for the IPCC Amendments for Nov 2017. So, IPCC Amendments for Nov 2017 for each subject are gathered below and taxation slab rates applicable in AY 2018-19 are given below which are applicable for next CA IPCC May 2018 exam too. Below I have given CA IPCC Tax amendments for Nov 2017 CA IPCC exam. Check out the given links too for Taxation amendments for Intermediate/IPCC Nov 2017 examination.

1st, We recommend you to get Practice Manual for IPCC NOV 2017.

IPCC Amendments for Nov 2017

Here I have gathered all the important updates for IPCC amendments for Nov 2017.

Official PDF: Download Amendment PDF by ICAI.

IPCC Tax amendments are given here, for rest subjects amendments click on the link given below.

1.IPCC Advanced Accounting Amendments NOV 2017
2.Company Law Amendments for CA IPCC NOV 2017
3.Information Technology New Chapters & IT SM Notes for NOV 2017

IPCC Tax Amendments for Nov 2017

Will GST applicable in IPCC Tax Nov 2017?

a. As notified by ICAI, GST will not be applicable in Nov 2017 tax exam. It will apply from May 2018 IPCC exam.

b. Download
i.- IPCC Tax Supplementary for Nov 2017 by ICAI
ii. Revised Practice Manual & Study Material for CA IPCC

Must download:- IPCC Nov 2017 RTP

c. Applicability of Finance Act and Assessment Year for Nov 2017:

The provisions of income-tax and indirect tax laws, as amended by the Finance Act, 2016, including circulars and notifications issued upto 30th April, 2017, are applicable for November 2017 examination. The relevant assessment year for income-tax is A.Y. 2017-18 for CA IPCC Nov 2017 examination.

d. MOST Important Announcement 31st May 2017:

As notified by ICAI on 31st May 2017, with effect from IPCC Nov 2017 exam, paper-4 (Taxation) shall be divided into two sections viz. Section A covers questions related to Direct Taxes whereas Section B which shall contain questions on Indirect Taxes.

How to write in Taxation Nov 2017 Paper for Direct Tax and Indirect Tax?

You need to write Direct Tax answers in Section A answer book and Indirect Tax in Section B answer book.

The said paper will continue to be held in a single session of 3 hours. Candidates will be required to write their answers in respect of each of the sections in two separate answer books. They will be required to write answers relating to Direct Taxes in the answer book meant for Section A ( duly marked “A” ) and those relating to Indirect Taxes in the answer book meant for Section B( duly marked “B”).

Consolidated marks of both the sections would be indicated in the statement of marks. The paper will be treated as a single paper for the purpose of passing requirements, exemptions and for providing certified copies.

The above arrangement will operate on the same lines as Paper 7- Information Technology and Strategic Management of Intermediate (IPC) examination.

Note: The bifurcation as mentioned above will be effective from the CA Intermediate(IPC) examination to be held in November 2017 and onwards.

ICDS Applicable for November, 2017 Exam:

CA IPCC students appearing in IPCC Paper 4: Taxation November, 2017 examination may note that Income Computation and Disclosure Standards (ICDS) shall be applicable. Accordingly, you are required to apply ICDS for computation of income or for answering application based or knowledge based questions. This is because the applicability of ICDS has been postponed to the assessment year 2017-18 and subsequent assessment years by CBDT vide Notification No.S.O.3079(E) dated 29.9.2016.\

Income Tax Slab for A.Y. 2018-19 (F.Y. 2017-18)

Income tax slab rate for AY 2018-19 are fully updated on our specific page.

So, check: Income Tax Slab Rates for FY 2017-18, AY 2018-19 in India

Paper 1: Accounts Amendments Nov 2017

Accounting Standards

AS 1 : Disclosure of Accounting Policies

AS 2 : Valuation of Inventories

AS 3 : Cash Flow Statements

AS 7 : Construction Contracts

AS 9 : Revenue Recognition

AS 10 : Property, Plant and Equipment

AS 13 : Accounting for Investments AS 14 : Accounting for Amalgamations

Paper 2 : Law, Ethics & Communication Amendments Nov 2017

The Companies Act, 2013: The relevant sections of the Companies Act, 2013, along with significant Rules/ Notifications/ Circulars/ Clarifications/ Orders issued by the Ministry of Corporate Affairs upto 30th April, 2017. For updates, see http://www.mca.gov.in/

Download the latest Study Material & practice manual from IPCC Study Material & Practice Manual for NOV 2017 Onwards Exams

IPCC Paper 3: Cost & FM Amendments Nov 2017

No changes as this is a static subject.