CA Students – FAQ

 

Table of Contents

1. General FAQs
2. FAQs in relation to CPT level
3. FAQs in relation to IPCC level
4. FAQs in relation to ARTICLESHIP
5. FAQs in relation to Final level

 

General FAQs

Q.1 Whether the Institute rechecks or revalues answer papers?
Ans. There is process of verification of marks covers only. There is no provision for re-evaluation of the answer books.

Q.2 How important is it to quote case laws in subjects like law and tax. Will we lose marks by not quoting unless demanded by the question?
Ans. Try to quote relevant section numbers/case laws, wherever possible. However, it is better not to quote than to misquote a section number/case law.

Q.3 Is criteria for 1 st attempt student and a 3rd attempt in checking exam copies different?
Ans. No, the criteria is same for all the papers.
Q.4 In a theoretical question of 8 marks, how much does an examiner expect to be written?
Ans. Answer should be precise, comprehensive and to the point.

Q.5 How and where can we get the evaluated answer sheet?
Ans. You have to contact Exam. Deptt. of ICAI.
Q.6 Is it necessary to write the answer in the serial order?
Ans. It is not necessary to write the answer in the serial order. But you should mention correct question number clearly.

Q.7 Should we refer other books as well for our practice and study?
Ans. You should make study material including practice manual as your base. Added to this, you may practice from as many books as you like. But remember to select good text books of renowned authors rather than relying on coaching classes’ short notes, help books and guides.
Q.8 Why don’t we have colleges for CAs?
Ans. Basically CA course is in distance education mode which is catering to lakhs of students spread all over the country and abroad. It is very difficult for the Institute to have its own campuses for so many students.
Moreover, under the laws, the ICAI cannot establish colleges. However, the Institute has tied up with (accredited) some colleges/institutions to provide classroom coaching to its students.

Q.9 Please organize programmes for different subjects like General Knowledge, Current News about economics etc.
Ans. The various programmes like students Conventions, Elocution and Quiz Contests, Debate Competitions etc.
organized by the ICAI from time in different regions all over the country, cover not only CA specific subjects but also general subjects.

Q.10 I have already registered for CA Final in Nov, 2011 but my attempt will be in 2014. Is it possible to exchange old material with the new?
Ans. You have to buy the updated study material relevant for your attempt. But as stated earlier, you must start your preparation right away. You must keep yourself updated every year by reading Students’ Journal, RTP for each attempt and buy the relevant material in Taxation and Law Paper with reference to relevant assessment year applicable for the particular examination attempt.

Q.11 What is the minimum marks should I get so that my exemption is not cancelled?
Ans. As per Regulation 37C (8) Notwithstanding anything contained in sub-regulations (1) to (7) above, acandidate who has appeared in all the papers comprised in a group/ unit and fails in one or more papers comprised in a group/ unit but secures a minimum of 60 per cent of the marks in any paper or papers of that group shall be eligible to appear at any one or more of the immediately next three following examinations in the paper or papers in which he secured less than 60 per cent marks. He shall be declared to have passed in that group/ unit if he secures at one sitting a minimum of 40 per cent marks in each of such papers and minimum of 50 per cent of the total marks of all papers of that group/ unit including the paper or papers in which he had secured a minimum of 60 per cent marks in the earlier examination referred to above. He shall not be eligible for any further exemption in the remaining paper(s) of that group/ unit until he has exhausted the exemption already granted to him in that group/ unit.

The implications of above paragraphs are clarified below for general information of candidates:
a) That in order to derive benefit of this proviso, a candidate who has failed in a group/ unit, should have secured a minimum of 60 marks in any paper/s of the group.
b) That the above exemption is automatic and will be found indicated in the statement of marks issued to the candidate.
c) That the marks of 60 or more secured in one or more papers mentioned in sub para (a) above are carried forward automatically for the immediately next three following examinations.
d) That the candidates will be declared to have passed in the said group/ unit in any one of the next three following examinations if he secures in a single sitting a minimum of 40 percent marks in each of the other papers and an aggregate of 50 percent marks. For the purpose of arriving at the aggregate as already stated in sub-paragraph (c) above, 60 marks or more secured earlier will also be taken into consideration.
e) That the exemption will be granted only when a candidate is present in all papers of the group/ unit.
The candidate is not eligible for any further exemption in that group/ unit under this proviso in the next three following examination (i.e. till the validity of the exemption already granted).

Q.12 Please tell us about the B.Com course from IGNOU for a CA student.
Ans. The special B.Com (A&F) majoring in Accounting and Finance course is offered by IGNOU like any of its regular programmes. To complete this programme successfully, a candidate is expected to complete 32 credits worth of selective courses from IGNOU along with all the subjects of Intermediate (IPC) course.
Students undergoing this course from IGNOU are exempted from studying the subjects which are part of the curriculum of Intermediate (IPC) course. For detailed course structure please see Institute’s website www.icai.org
Q.13 Where can I get ICAI day to day updates?
Ans. You may visit ICAI website http://www.icai.org for ICAI’s updates.

Q.14 How many Courses we can do with CA? Can we do with CA & CS simultaneously?
Ans. In addition to CA, with the permission of Institute (by filling form 112), an articled/audit assistant may do one regular course provided the classes are not held between 9.30 AM and 5.30 PM. Student will be allowed to pursue another course only on completion of the course permitted earlier and completed in all respects.
The students are advised to join graduation course either through IGNOU/NSOU/Bharathiar University/University of Madras or through correspondence course or through colleges whose timings do not clash with the timing of practical training.

Q.15 What is the benefit of being a CA when going for civil services?
Ans. Candidates possessing CA qualification are eligible for admission to the Civil Services Examination. As far as his qualifications are concerned, his wide knowledge and practical exposure in different fields may help him in dealing with his work areas more confidently.

Q.16 I am not doing graduation, am I eligible for IAS or IPS exam on the basis of CA degree?
Ans. Chartered Accountants are eligible for admission to Civil Services Examinations conducted by UPSC for recruitment to IAS, IPS and other Group A/Group B Central Services/Posts.

Q.17 What is the pattern of checking the papers? Does the mood of the examiner really affect the marks obtained? Please explain.
Ans. The ICAI lays down strict guidelines for checking the papers for the examiners which they have to adhere under all circumstances. Rationally speaking, his mood has nothing to do with the marking.

Q.18 What are the opportunities available to CAs?
Ans. Chartered Accountancy is a high status profession and a passport to challenging and awarding career in industry and commerce. On becoming a CA you may have start your Independent professional practice, provide management consultancy services or you may join an industry or govt. organization and hold a responsible position. For detail information regarding career opportunities for CAs please refer to Institute’s
publication “Chartered Accountancy : Global Career Endless Opportunities”.

Q.19 Do CS professionals have any exemption/relaxation in articleship period of CA Course?
Ans. There is no exemptions/relaxation in articleship period for CS professionals.

Q.20 Which universities have tie-up with ICAI?
Ans. We have tie ups with Bharthiar University, IGNOU, Madras University, Netaji Subhash University. For details you may refer to Institute’s website www.icai.org
Q.21 Students face many problems in practical subjects so please provide teacher to solve these problems.
Ans. You may write or talk to BOS faculty members for your subject specific problems.

Q.22 Is it true that students who clear CA exams in first attempt get preference ICAI campus placement.
Ans. It is true that students who clear in the first attempt have an edge over students who clear in more than one attempt. Besides, your performance in the interview also counts.

Q.23 Why are CAs not recruited in Income Tax Department, Excise Dept & Custom Department as professional officers?
Ans. There departments have their own recruitment procedure which one has to adhere while applying there.
Today, there are many CAs who are working in these departments.
Q.24 How to write answer in theory papers especially Law?

Ans. In reference to the subject of law, while attempting practical/application oriented questions, students should be able to pinpoint the legal points or issues involved in any statement, problem or situation given in the
question, explain the relevant legal provisions clearly, correlate the legal provisions to the given statement or problem or situation and cite the relevant case law in support of their reasoning.
For example, the answer of the students must be divided into four categories:
I. Name of the Act and the provision by which it is governed
II. Reference of any case law, if any for quality of the answer though not effecting on the scoring of the answer
III. Co-relation of the legal provisions to the given statement/problem in a question
IV. Conclusion

Q.25 How much importance should be given to rank in CA examination?
Ans. Aiming for rank in CA exams is good as it prompts you to put in more efforts and do better than your competitors. If you are able to secure a rank, your CV will be better than others and it may help you to secure a good job also.

Q.26 How far are the number of attempts taken in clearing CA examination important while going for job?
Ans. If you clear in first attempt you create a good impression on the companies which come for recruitment as it reflects your intelligence and hard work.
On the contrary, it has also been noticed that some companies give preference to candidates who clear in more than one attempt as these candidates become more seasoned and experienced in dealing with the subject area.

Q.27 Do we need to be graduate for getting registered as a member of ICAI?
Ans. You need not be a graduate for being registered as member.
Q.28 If we get multiple degrees like CA, CS, ICWA, etc. Then can we practice all the degrees at the same point of time?
Ans. You can have multiple degrees but you can practice only one.

Q.29 Some of the practical questions along with their solutions are not correct. In spite of written representation regarding the same it has not been corrected in the revised modules also. Are the modules reviewed on the basis of above representation?
Ans. You are requested that such questions and solutions be brought to the notice of Director, Board of Studies. They would be corrected (if found wrong) in the next edition.
Q.30 Why are CA study materials not prepared point wise or tabular form rather than in paragraph forms?
Ans. The study material of Professional Courses may not fully be prepared point wise or tabular wise. These are included as far as possible depending upon the requirement of the chapter. Moreover, the aim of the Study Material to impart knowledge and enhance understanding of the subject rather than emphasis rote learning.
In fact if you go through any standard text books in any subject, none of the author would give point-wise presentation. Such form of presentation is adopted by coaching classes or low quality books/notes/keys. etc.

Q.31 Can we get e-mail addresses of BoS officials?
Ans. They are available at our website www.icai.org

Q.32 Can a person become a CA without any type of tuitions or coaching?
Ans. Yes, it depends upon individual’s capability and aptitude.

 

FAQs in relation to CPT level 

Q.1 How should students from Science stream prepare for subjects like Accounts and Economics?
Ans. At CPT level, only basics of Accountancy and Economics are taught and tested. The study material is written in easy language which can be understood by a lay man. Even then, if a Science stream student finds them difficult, he would have to undertake coaching in order to have the basic understanding of Accountancy and Economics. They can also study from +2 books where basics of these subjects are
taught.

Q.2 Maths is not needed in CA’s practice. Then why is it being tested at CPT Level?
Ans. Maths strengthens your base and trains you to deal with computational subjects like Accountancy, Financial Management, Cost Accounting etc. Therefore a basic understanding of mathematics is necessary for CAs and that is why it is being taught and tested at CPT level.

Q.3 What is beneficial for us to attempt CPT along with 12th Standard or after completing 12th Standard?
Ans. If you want to save time, you may attempt May attempt immediately after 12th Standard examination provided you are prepared for it.

 

FAQs in relation to IPCC level

Q.1 I got exemption in IPCC but I failed in one subject. What is the minimum marks should I get so that my exemption is not cancelled?
Ans. As per Regulation 37C (8) Notwithstanding anything contained in sub-regulations (1) to (7) above, acandidate who has appeared in all the papers comprised in a group/ unit and fails in one or more papers comprised in a group/ unit but secures a minimum of 60 per cent of the marks in any paper or papers of that group shall be eligible to appear at any one or more of the immediately next three following examinations in the paper or papers in which he secured less than 60 per cent marks. He shall be declared to have passed in that group/ unit if he secures at one sitting a minimum of 40 per cent marks in each of such papers and minimum of 50 per cent of the total marks of all papers of that group/ unit including the paper or papers in which he had secured a minimum of 60 per cent marks in the earlier examination referred to above. He shall not be eligible for any further exemption in the remaining paper(s) of that group/ unit until he has exhausted the exemption already granted to him in that group/ unit.

The implications of above paragraphs are clarified below for general information of candidates:
a) That in order to derive benefit of this proviso, a candidate who has failed in a group/ unit, should have secured a minimum of 60 marks in any paper/s of the group.
b) That the above exemption is automatic and will be found indicated in the statement of marks issued to the candidate.
c) That the marks of 60 or more secured in one or more papers mentioned in sub para (a) above are carried forward automatically for the immediately next three following examinations.
d) That the candidates will be declared to have passed in the said group/ unit in any one of the next three following examinations if he secures in a single sitting a minimum of 40 percent marks in each of the other papers and an aggregate of 50 percent marks. For the purpose of arriving at the aggregate as already stated in sub-paragraph (c) above, 60 marks or more secured earlier will also be taken into consideration.
e) That the exemption will be granted only when a candidate is present in all papers of the group/ unit.
The candidate is not eligible for any further exemption in that group/ unit under this proviso in the next three following examination (i.e. till the validity of the exemption already granted).

Q.2 After a few attempts of unsuccessful IPCC, can we register for ATC?
Ans. Yes. Student may opt ATC at any time by paying ATC registration fee of Rs. 1,000/-

Q.3 I have completed my graduation now. I am in IPCC and not yet cleared the IPCC. Can I join the articleship?
Ans. Yes, you can enter through transitional scheme of Direct Entry scheme provided you have the requisite marks in graduation and fulfill other criterion.

Q.4 What if student registers for IPCC in July & for ITT in October? Should we do them together?
Ans. Yes, one can start ITT after registering for IPCC, however, one has to complete it before commencing Articleship.

Q.5 Can we join articleship after attempting 2nd Group of IPCC.
Ans. No, student coming through CPT route can join articleship (only after) passing   1st Group of IPCC.

Q.6 Why is Information Technology subject introduced in CA course?
Ans. In today’s era, there is no field where the Information Technology has not penetrated and has not made its influential impact. One cannot refute its existence which effects key areas like Transportation, Employment, Health, Education, Accounting, Research, Finance to name a few. An information technology manager is
responsible for the creation and implementation of a business process based information system for a client firm. A Chartered Accountant would be the ideal professional to suit the profile of an IT Manager with prior experience in diverse business processes, sound financial domain knowledge and analytical & logical
mindset. In IT management, therefore, the role of a Chartered Accountant is considered to be very important and inevitable. Chartered Accountants as advisors, consultants, managers, auditors or planner play an important role in selecting, facilitating, controlling, managing, supervising and supporting proper IT
management. Thus, a CA has a role to play in each step of IT management. Once a Chartered Accountant is fully prepared to take up this opportunity, then sky is the limit.

Q.7 How to manage both groups, how to prepare for IPCC (both group) within 8 months. What are the advantages of taking both groups together?
Ans. Managing both groups of IPCC requires a proper mix of intelligence and hard work and proper time management. This you will have to judge whether you are capable of taking both groups together or not. If you have even iota of doubt then it is better to take one group at a time. You save time when you take both
the groups together. Plus, You have an edge over the students who do one group at a time as it is reflected in your Curriculum Vitae (CV).

Q.8 Those students who have registered IPCC with ATC, do they need to do articleship for an additional year?
Ans. Students who have registered for IPCC alongwith ATC shall be required to complete either 12 months work experience or prescribed period of articled training before applying for ‘Accounting Technician Certificate’.
Further, it is clarified that partial completion of articled training period cannot be treated as completion of 12 months work experience nor based on that ‘Accounting Technician Certificate’ shall be issued.

FAQs in relation to ARTICLESHIP 

Q.1 Please tell about the procedure and maintenance of e-diary.
Ans. The e-Diary (Student’s Work Diary) online system aims to enhance the practical education and training of article trainees through a mechanism of capturing the work done by students, review by principal, alerts for due dates and monitoring at the Institute level.
Work Diary would maintain Training Records consisting of

(a) Attendance Register including Leave Record and

(b) Periodical Practical Training Record.
In this regard, students may watch for an appropriate announcement regarding its implementation and operation shortly on the Institute’s website.

Q.2 What steps are being taken by the ICAI to take to reduce work burden of articled assistants?
Ans. ICAI aims to groom its students into all round personalities who are capable of working under high pressure.
The more the work burden more will be your exposure to practical environment and more will be your experience and wisdom to tackle the situation.

Q.3 Is it compulsory to fill the form 112 if we enroll in another course?
Ans. Yes, it is compulsory.

Q.4 Please brief us about Industrial Training. Does Institute provide any industrial training placement through campus interviews?
Ans. Industrial training envisages the preparation of trainees, who intend to build their careers in industries, after becoming CAs. It is a part of the practical training of prescribed years which a student of CA course is required to undergo. The industrial training is optional and is done in any of the financial, commercial, industrial undertaking as may be specified/approved by the Council of the Institute. This training can be done only by a student who is in the final course of the CA. Minimum period of industrial training may range between 9 to 12 months during the last year of prescribed period of practical training. The training shall be received under a member of the Institute. An agreement of training is to be entered in the approved form (Form 114). On successful completion of the training the principal has to issue service certificate in the approved form (Form 105).

Q.5 Explain the rules regarding General Management and Communication Skills (GMCS) as per new scheme for IPCC students?
Ans. Students who have joined practical training on or after 1 st May, 2012 shall be required to undergo two GMCS courses for 15 days each. First GMCS course shall be undergone during the first year of practical training and second GMCS course shall be undergone after completion of 18 months practical training but before completion of practical training.

Q.6 The Institute announced that articled students can find their firm through on-line Article Placement Portal. Kindly elaborate the procedure.
Ans. The Institute provides the facility of On Line Articles Placement Portal. This portal provides a platform to the firms of Chartered Accountants having vacancies for Articled Assistants to select eligible students and the candidates who are eligible for undergoing articled training. Both eligible firms and candidates have to register themselves online through the articles placement portal. Please visit http://bosapp.icai.org for details regarding this facility.

Q.7 I am unhappy with my training due to non availability of work in the office. Most of the time, we sit idle in the office. There is no work of any company Bank VAT & ST. We are busy only in few months when filing the ITR. We want to give more hour to training but want to learn company Audit, bank audit etc. What should we do?
Ans: A student may opt for secondment, termination of articleship, Industrial training for gaining practical experience in different areas as per Regulation 54, 56 and 51 of the Chartered Accountants Regulations, 1988.

Q.8 Why is there no transparency in the recruitment of articles. Despite the fact that why one has scored well in the exams still the reference is to be applied for training?
Ans. The Institute does not have any role in placement of articles. However, for theconvenience of students and firms the Institute has started On-line Article Placement Portal where firms desiring to keep articles and students desiring for doing articleship register themselves for placement. The selection procedure is entirely the domain of the registering firm in which the Institute does not have any role to play.

Q.9 Can we do articleship & Industrial training from abroad?
Ans.

1. i) Yes, A Chartered Accountant is eligible to train an articled assistant provided his main occupation is the practice of the profession of Accountancy at the time of engaging articled assistants as well as in each of the qualifying years on the basis of which he claims eligibility to train articled assistants.
   ii) Any member engaged in any other business, occupation or holding part time certificate of practice is not entitled to train articled assistant.
   iii) Any member employed as a Paid Assistant or engaged as a partner in a foreign firm of Chartered Accountants will also be eligible to train articled assistants at par with the paid assistants with a firm of Chartered Accountants in India. All conditions applicable to the Paid Assistants in India would be applicable to them as well. However, in case of a foreign firm, such a foreign firm shall have at least one partner who is either a member of the Institute or who is eligible to become a member of the Institute, in terms of MRA.
   iv) The members shall provide a professional address as envisaged in Regulation 2(1)(xiii) as well as an address in India.

 

(As per the said Regulation, professional address means: –
a. an address of the place where the member is carrying on his profession (or where he is carrying on his profession at more than one place, the principal place), or

1. if a member is employed, the place of employment or at his option the place of his residence
2. the place of residence, if the member neither carried on the profession nor is employed. It may please be noted that an address in India is essential in any of the situation)
3. v) The terms and conditions that may be made applicable for training articled assistant in India from time to time shall mutates mutandis apply for training of articled assistant abroad.
   vi) The period of practical training shall be 3 years or 3 ½ years, as applicable, under a practising chartered accountant abroad. However, the articled / audit assistants should have an option to undergo industrial training in accordance with the Regulations 51 & 72 of the Chartered Accountants Regulations, 1988 during the last one year of training.
   vii) The Industrial Training may be imparted by the Chartered Accountants working abroad in a financial, commercial or industrial undertaking with minimum fixed assets & minimum total turnover or minimum paid up capital as may be specified by the Council (whatever the value specified in terms of Indian currency may be deemed as applicable in foreign countries in their respective currencies) or such other organization or institution approved by the Council. In case of a member employed outside India, and eligible to impart Industrial training outside India, is unable to submit Annual Report/Balance sheet of the corporate/undertaking the member is working with, the member may submit a self declaration about the particulars of the undertaking along with the application.
   viii) The terms & conditions contained in Regulation 54 and Regulation 54A dealing with secondment shall be applicable to the articled assistants receiving training abroad.
   ix) The Principal shall send training reports as prescribed along with the service certificate to be issued in Form 109 & 108 as the case may be.
   x) The principal shall impart training in accordance with the guidelines contained in Training Guide. He shall maintain a record of practical training imparted by him to the articled assistant and report to the Council in the form prescribed in the training guide.
   xi) The rates, terms and conditions of stipend prescribed as payable to the articled assistants receiving training in India shall be applicable to the articled assistants receiving training aboard except that the same rate of stipend in equivalent terms specified in respective national currencies of the countries concerned instead of Indian rupees.
   xii) Regulation of training in terms of office hours and working days holidays will be applicable as per local office timings and laws. However, requirements of total training hours will be the same as applicable in India, the terms of which are given hereunder: –
   The working hours for the articled assistants shall be 35 hours in a week excluding the lunch break.
   b. The office hours of the Principal for providing article training to the articled assistant shall not be generally before 9.00 a.m. or after 7.00 p.m.
   c. The normal working hours for the articled assistant shall not start after 11.00 a.m. or end before 5.00 p.m.
   d. The working hours for the articled assistants should not exceed 35 hours in a week excluding the lunch break and normally an articled assistant be required to work during the normal working hours fixed for articled assistants.
   e. In case of exigencies of work with Principal, an article assistant may be required to work beyond his / her normal working hours. However, under such circumstances, the aggregate number of working hours shall not exceed 45 hours per week. The requirement to work beyond 35 hours in a week should not be a practice but only in exceptional circumstances.
   Further, where the articled assistant is required to work beyond normal working hours, and aggregate of such hours exceed 35 hours per week, he / she shall be entitled to compensatory leave calculated with reference to number of completed working hours, over and above, 35 hours per week.
   Further conduct of training will be regulated as per provisions of the relevant Regulations 60, 65, 66, 67 of the Chartered Accountants Regulations, 1988.

Q.10 Is deputation of articled assistants at branches of the same firm allowed during articleship even after 1 year from starting it?
Ans.Deputation of articled assistants at branches of the same firm is allowed during articleship if the principal remains the same. If there is change in the principal, then the articled assistant has to apply for termination as per the announcement dated 2nd July 2010 regarding transfer/termination of articleship.

Q.11 How many total leaves are available during articleship? Please provide, the basis for calculating leave during articleship.
Ans. Ans. As per Regulation 59 of the Chartered Accountants Regulations, 1988, an articled assistant shall earn leave at the rate of one sixth of the period for which he has actually served excludingfrom such period, the period for which he has been on leave subject to maximum of 180 days.

Case 1: An article completed 3 years of articleship till now. So,
Total working days: 365*3 = 1,095 days
Leaves Taken so far = 100 days
Actual period Served = 995 days
Leaves Earned = 1/6th on 995
= 165 days
Leave entitled (subject to sanction of leave by your Principal)
= 65 days (165-100 days)
Case 2: An article having a total articleship period of 3.5 years. So,
Total working days: 365*3.5 = 1277 days
Leaves Taken till now = 100 days
Actual Period Served = 1177 days
Leaves Earned = 1/6th on 1177
= 180 days (maximum)
Leaves entitled (subject to sanction of leave by your Principal)
= 80 days (180-100)

FAQs in relation to Final level

Q.1 Since we do our Final course along with articleship, we have to start with classes 1½ years prior to the final attempt. Please tell, what are the subjects wherein the syllabus may change.
Ans. CA course is a dynamic course which consists of subjects like Direct Tax Laws, Indirect Tax Laws, Corporate Laws, Financial Reporting, Strategic Financial Management etc. at the Final level. These subjects are revised/updated every year to make them contemporary; therefore it is advisable to have the latest copy of these subjects while planning for the exam.

But you must start studying these subjects well in advance rather than waiting till last minute to get the latest copy and then start studying. Because once a student has prepared the subject well, then it is easy for him to understand these changes much easier and he gets sufficient time to master the subject.

Q.2 Should we learn all sections, subsections and clauses in CA Final Law?
Ans. It is desirable to support answers with relevant sections, sub-sections and clauses on the matter wherever necessary. Extra efforts are to be made at least on learning the Section numbers. If by any chance, students do not remember the Section numbers, subsections and clauses while answering any question in the examination paper on the subject, they may not lose heart on this score. They may otherwise strengthen their answer by appropriate reasoning and examples. However, they may desist from citing wrong Section numbers, sub-sections and clauses.

Q.3 To what extent ICAI considers judgments given by High courts of various states with respect to the Income Tax Act, 1 961 while checking copies of Final students and what is the best source to refer for such judgments.
Ans. Questions can be answered on the basis of Supreme Court as well as High Court judgments interpreting the tax provisions, which are relevant as per the law as amended by the Finance Act applicable for the examination.

Q.4 I have already registered for CA Final in Nov, 2011 but my attempt will be in 2014. Is it possible to exchange old material with the new?
Ans. You have to buy the updated study material relevant for your attempt. But as stated earlier, you must start your preparation right away. You must keep yourself updated every year by reading Students’ Journal, RTP for each attempt and buy the relevant material in Taxation and Law Paper with reference to relevant assessment year applicable for the particular examination attempt.

Q.5 Practical questions/aspects we study in articleship and Final study material are quite different, there is no connection in practical & theory. Why?
Ans. Practical world is always perceived to be different from theoretical world. In fact, both are sides of the same coin. In theory we may not be able to envisage the practical problems which we may encounter in day-today life. But a good practice emerges from the strong theoretical foundation.
Q.6 After passing IPCC when should we start the study of Final course?
Ans. Immediately. You should not waste even a single day in a dynamic and demanding course like CA.
Moreover, you will take some time in developing acquaintance with the subjects

Q.7 Tell us how to study for Final exams during articleship?
Ans. Start your preparation as soon as you register for Final Course, chalk out your time table depending upon your capability and adhere to it. Everybody has 24 hours at ones disposal which one has to manage on his own.

 

 

 

Note: This compilation is completely sourced from the file which is available in the website of “The Institute of Chartered Accountants of India”. This compilation is just to help CA students find the relevant portion out of that file. 

The link to the file is-

FAQs – Queries raised at various International/ National/ State Level Students Conventions .