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CA Syllabus & Subjects 2024: Foundation, Inter & Final

Greetings to all CA aspirants! Within this article, you will gain comprehensive insights into the syllabus and subjects for the year 2024 pertaining to all three tiers of the CA examination.

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Introduction

Prior to delving into the syllabus details, it is essential to familiarize yourself with the overarching structure of the CA curriculum. The CA program comprises three progressive tiers: CA Foundation, Intermediate, and Final. Across these tiers, a comprehensive array of topics is covered, including Accounting, Direct and Indirect Taxes, Auditing, Corporate Law, Financial Management, and a host of other advanced subjects.

Initiating the journey is the CA Foundation level, encompassing four subjects that resonate with the academic content encountered during your 11th and 12th grades. In contrast, the CA Inter and Final tiers present a more extensive curriculum, encompassing a total of eight subjects at each stage.

Supervising the CA examinations is the ICAI, the authoritative body responsible for setting forth the examination curriculum. We are pleased to offer an updated rendition of the CA syllabus applicable to the 2024 examination cycle within this segment. Furthermore, students are afforded the opportunity to conveniently access the latest version of the CA Syllabus in PDF format, readily available for download from this very page.

The CA New Scheme brings about significant alterations in various aspects such as eligibility criteria, registration duration, syllabus structure, subjects, exam paper patterns, passing requirements, exemptions, training leave policies, and the process for discontinuing the CA course.

ICAI CA Course Level New Changes
CA Foundation
4 Subjects from 6 Subjects
CA Intermediate
6 Papers (3 in each Group)
CA Articleship
Period Reduced from 3 to 2 years
CA Final
6 Papers (3 in each Group)
ICAI CA Course Level Current New Changes
CA Foundation Registration/ Appear 10 + 2
Start
Start
CA Foundation Study Period
4 Months
4 Months
CA Intermediate Study Period
8 Months
8 Months
CA Articleship
36 Months
24 Months
CA Final Study Period
–
6 Months
Total CA Course Duration
48 Months
42 Months
Work Experience for CoP
–
12 Months

For more detailed information, you can refer to the official notification regarding the CA New Scheme on the Institute of Chartered Accountants of India (ICAI) website. This notification can be found in the announcement section of the website.

CA Syllabus 2024 – Course Highlights

The arrangement of the CA Course encompasses the subsequent components:

Notably, the ICAI has introduced a prospective modification to the CA curriculum in the new scheme of education, potentially effective for the 2024 examinations. This proposed alteration involves substantial revisions across all tiers, aimed at aligning the CA Course with global benchmarks.

Particular Details
Course Name
Chartered accountant(CA)
Minimum eligibility
Foundation: 50% in class 12 Inter: Clear Foundation or graduation with 50% Final: Clear Foundation and Inter with work experience
Course Levels
Foundation, Inter & Final
Number of Levels
CA Foundation – 4 , CA Intermediate – 8 , CA Final – 8
Difficulty Level
Average to Hard
CA Course Duration
5 years
Conducting Body
Conducting Body
CA Admission Process
Entrance Exam
CA Registration Fees
Foundation: INR 9800 Inter: INR 18,000 Final: INR 22,000
Career Opportunities
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CA Foundation Syllabus 2024

The CA Foundation curriculum comprises a set of four subjects, all of which are essential for successful completion of the examination. Accessing the CA Foundation syllabus for the year 2024 in PDF format can be facilitated through the official website of ICAI. The foundational tier of the CA syllabus encompasses the following quartet of subjects:

Familiarize yourself with the comprehensive exam pattern for the upcoming 2024 CA Foundation examinations.

Dive into the CA Foundation exam pattern 2024 for crucial insights. Mastering the structure, marking, and formats outlined will strategically enhance your preparation. Let this resource illuminate your path, boosting confidence for a successful exam outcome. Your dedication to detail promises rewarding results.

Paper 1 – Accounting

This is a total 100 mark paper. A candidate must have a secure 40% mark to clear this paper. Topics of paper 1.

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

Resources for Paper 1 – Accounting

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Study Material

Chapter Wise Weightage breakdown

Paper 2- Business Law

This paper has two parts. Part 1 comprises Business Law, which carries 60 marks and part 2 comprises Business Correspondence and Reporting, which has to carry 40 marks. Topics of paper 2

Section 1 – Business Law

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

Section 2

Part – 1 : Communication

Part -2 : Sentence Types and Word Power

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

Part -3 : Comprehension Passages and Note Making

  1. Comprehension Passages
  2. Note Making

Part -4 : Developing writing Skills

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

Resources for Paper 2- Business Law

Complete Course By Stargate Education

Study Material

Chapter Wise Weightage breakdown

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Paper 3 – Business Mathematics

Paper 3 has three parts, and each part carries distinct marks Topics for paper 3

Section A: Business Mathematics

Topics covered are-

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

Section B: Logical Reasoning

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

Section C: Statistics

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

Resources for Paper 3 – Business Mathematics

Complete Course By Stargate Education

Study Material

Chapter Wise Weightage breakdown

Paper 4 – Business Economics

This paper has two parts.topics for paper 4

Section A: Business Economics

Topics covered in this section includes-

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

Section B: Business and Commercial Knowledge

Topics covered in this subject are-

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

Paper 4 – Business Economics

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Study Material

Chapter Wise Weightage breakdown

Our comprehensive CA Foundation Course will equip you with the necessary knowledge and skills to excel in the CA Foundation exams.

CA Intermediate Syllabus 2024

Within the realm of the CA Intermediate curriculum lie a total of 8 subjects, partitioned into two distinct groups. The initial group entails 4 papers, while the subsequent group likewise encompasses 4 papers. Successful navigation through the intermediate tier is imperative for aspiring CAs aiming to advance to the ultimate phase. As outlined by the CA syllabus endorsed by ICAI, candidates are granted a span of 8 months to proficiently traverse all the subjects in this stage.

Paper 1 – Accounting

This paper comprises of 100 marks. And a student gets 3 hours to complete this paper. The candidate must have secured a 40% mark for this paper.

Topics covered in this Subject are-

  1. Process of formulation of Accounting Standards including Ind ASs (IFRS converged standards) and IFRSs; convergence vs adoption; objective and concepts of carve outs.
  2. Framework for Preparation and Presentation of Financial Statements (as per Accounting Standards)
  3. Application of Accounting Standards
  4. Company Accounts
  5. Accounting for Special Transactions
  6. Special Type of Accounting
  7. Dissolution of partnership firms including piecemeal distribution of assets; Amalgamation of partnership firms; Conversion of partnership firm into a company and Sale to a company; Issues related to accounting in Limited Liability Partnership.

Paper 2 – Corporate and Other Laws

This paper has 2 parts. One is company law, and another is other laws. These 2 parts carry 50 marks each.

SECTION – A Company Law

Topics covered in this Section are –

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

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

SECTION – B Other Laws

Laws covered in this section are –

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

Paper 3- Cost and management accounting

This paper also consists of 100 marks.

Topics covered under cost and management accounting are-

  • Overview of Cost and Management Accounting
    • Introduction to the Cost and Management Accounting.
    • Elements of cost and preparation of cost sheets.
  • Ascertainment of Cost and Cost Accounting System.
    • Material Cost
    • Employee Cost
    • Direct Expenses
    • Overheads
    • Concept of ABC analysis
    • Recording and Accounting of Costs
  • Methods of Costing –
    • Single Output/ Unit Costing
    • Job Costing
    • Batch Costing
    • Process / Operation Costing
    • Costing of Service Sectors
  • Cost Control and Analysis
    • Standard Costing
    • Marginal Costing
    • Budget and Budgetary control

Paper 4- Taxation

This paper is divided into two sections. In section one income tax law has 50 marks and in section two indirect taxes have 50 marks also.

SECTION – A : Income Tax

This section covers topic like-

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

SECTION – B : Indirect Taxes

Topics covered under this head are-

  1. Concept of indirect taxes
  2. Concept and features of indirect taxes
  3. Principal indirect taxes
  4. Goods and Services Tax (GST) Laws
  5. GST Laws: An introduction including Constitutional aspects
  6. Levy and collection of CGST and IGST
  7. Application of CGST / IGST law
  8. Concept of supply including composite and mixed supplies
  9. Charge of tax
  10. Exemption from tax
  11. Composition levy

iii. Basic concepts of time and value of supply

  1. Input tax credit
  2. Computation of GST liability
  3. Registration

vii. Tax invoice; Credit and Debit Notes; Electronic way bill

viii. Returns

  1. Payment of tax including reverse charge

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

In group two of CA intermediate 4 papers are available. These are follows

Paper 5- Advanced accounting

This paper consists of 100 marks. A candidate should have to secure 40% to clear the paper.

Topics Covered by this Subject are-

    1. Application of Accounting Standards. (AS – 7,9,14,18,19,20,24,26,29)
    2. Application of Guidance Notes issued by the ICAI on specific accounting aspects.
    3. Special aspects of Company Accounts.
    4. Reorganization of Companies.
    5. Financial Reporting of Banking, Financial Services and Insurance.
    6. Valuation of Goodwill.
    7. Consolidated Financial Statements.

Paper 6 – Auditing and Assurance

This is the paper on auditing. In this paper, students face 100 marks of exams in 3 hours.

Topics covered in this subject are as follows –

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

Paper 7 – Enterprise Information Systems and Strategic Management

This paper is divided into two sections one is enterprise information system and another is strategic management. These two sections carry 100 marks.

SECTION – A Enterprise Information Systems

Topics covered in the above section are as follows –

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

SECTION – B : Strategic Management

Topics covered by this section are as follows-

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

Paper 8 – Financial Management and Economics for Finance

This paper also has two sections. One is financial management and another is Economics for Finance. This paper carries 100 marks also.

SECTION – A : Financial Management

Topics covered under this section are –

  • Financial Management and Financial Analysis.
    • Introduction to the Financial Management Functions
    • Financial Analysis through Ratios
  • Financing Decisions
    • Sources of Finance
    • Lease Financing
    • Cost of Capital
    • Capital Structure Decisions
    • Leverages
  • Capital Investment and Dividend Decisions
    • Capital Investment Decisions
    • Adjustment of Risk and Uncertainty in Capital Budgeting Decision
    • Dividend Decisions
  • Management of Working Capital

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

SECTION – B : Economics for Finance

Topics covered under this section are –

  • Determination of National Income
  • Public Finance
  • The Money Market
  • The International Trade

Presented here is the comprehensive curriculum comprising the Intermediate Level of the CA Course.

The CA intermediate examination encompasses a cumulative score of 800 marks across all subjects. This phase of the CA journey is notably challenging, thereby necessitating students to allocate considerable focus and effort towards its successful completion.

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CA Final Syllabus 2024

The syllabus for the CA course is offered by the ICAI, offering insights into the subjects and content covered in the examination. The CA final examination represents the conclusive stage in the Chartered Accountancy journey. Aspiring individuals must successfully navigate through all three tiers of the examination to attain professional CA designation. The ultimate level of the CA examination comprises a total of 8 subjects, organized into two distinct groups, as administered by the ICAI.

Paper 1: Financial Reporting

This paper carries 100 marks. And it takes 3 hours to complete the exam.

Topics covered in this subject at the Final level are-

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

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

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

Paper 2: Strategic Financial Management

This paper also carries 100 marks.

Topics covered in this subject at the Final level are-

  1. Financial Policy and Corporate Strategy.
  2. Indian Financial System.
  3. Risk Management.
  4. Security Analysis.
  5. Security Valuation
  6. Portfolio Management.
  7. Securitization
  8. Mutual Funds
  9. Derivatives Analysis and Valuation.
  10. Foreign Exchange Exposure and Risk Management.
  11. International Financial Management.
  12. Interest Rate Risk Management
  13. Corporate Valuation
  14. Mergers, Acquisition and Corporate Restructuring.
  15. International Financial Center (IFC).
  16. Startup Finance
  17. Small and Medium Enterprises

Paper 3: Advanced Auditing and Professional Ethics

This paper also carries 100 marks.

Topics covered in this subject at the Final level are-

  1. Auditing Standards, Statements and Guidance Notes
  2. Audit Planning, Strategy and Execution.
  3. Risk Assessment and Internal Control.
  4. Special Aspects of Auditing in an Automated Environment.
  5. Audit of Limited Companies.
  6. Audit Reports.
  7. Audit Reports and Certificates for Special Purpose Engagements.
  8. Audit Committee and Corporate Governance.
  9. Audit of Consolidated Financial Statements.
  10. Special Features of audit of Banks, Insurance and Non Banking Financial Companies.
  11. Audit under Fiscal Laws.
  12. Special Audit Assignments.
  13. Audit of Public Sector Undertakings.
  14. Liabilities of Auditors.
  15. Internal Audit, Management and Operational Audit.
  16. Due Diligence, Investigation and Forensic Audit.
  17. Peer Review and Quality Review.
  18. Professional Ethics.
  19.  

Paper 4: Corporate and Economic Laws

This paper has two parts. One is corporate law and another is economic law. These two parts carry 100 marks.

PART – 1 : CORPORATE LAWS

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

SECTION – A Company Law

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

Topics Covered under Company Law are as follows –

Companies Act, 2013

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

Corporate Secretarial Practice

Drafting notices, Resolutions, Minutes.

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

SECTION – B Securities Law

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

Topics covered under this head are as follows-

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

PART – 2 ECONOMIC LAWS

  1. Topics covered in this part are –

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

Paper 5: Strategic Cost Management and Performance Evaluation

This is the paper on auditing. In this paper, students face 100 marks of exams in 3 hours.

The subject is divided into three categories-

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

PART – 1 : STRATEGIC COST MANAGEMENT AND DECISION MAKING

SECTION – A : Strategic Cost Management

Topics covered by the above section are –

  • Introduction to Strategic Cost Management.
  • Modern Business Environment.
  • Learn System and Innovation.
  • Cost Management Techniques.
  • Cost Management for Specific Sectors

SECTION – B : Strategic Decision Making

  • Decision Making
  • Pricing Strategies / Decisions

PART – 2 : PERFORMANCE EVALUATION AND CONTROL

SECTION – A : Performance Evaluation and Reporting

  • Performance Measurement and Evaluation
  • Divisional Transfer Pricing
  • Strategic Analysis of Operating Income.

SECTION – B Managerial Control

  • Budgetary Control
  • Standard Costing

SECTION – C Case Studies

It covers the Course Concepts

Note- Apart from the above topics application of the following Quantitative Techniques are required to be studied to linkage to course concepts –

    1. Linear Programming
    2. Learning Curve / Experience Curve.

Paper 6: Elective Paper

This represents a choice-based section, allowing candidates to opt for a single elective paper from the following alternatives:

  • 6A: Risk Management
  • 6B: Financial Services and Capital Markets
  • 6C: International Taxation
  • 6D: Economic Laws
  • 6E: Global Financial Reporting Standards
  • 6F: Multi-disciplinary Case Study

Topics Covered –

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

Following topics covered in SFM and LAW will also form part of this syllabus –

  1. Risk Management in Investment Decisions.
  2. Foreign Exchange Risk.
  3. Interest Rate Risk.

PAPER – 6B FINANCIAL SERVICES AND CAPITAL MARKETS

OBJECTIVE

To acquire understanding about the services provided by intermediaries and banks in the realm of finance, along with their roles and engagements within the broader financial market, especially in the context of the capital market. Additionally, to apply this acquired knowledge in real-world practical situations.

Topics covered by this subject are as follows –

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

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

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

PAPER – 6B FINANCIAL SERVICES AND CAPITAL MARKETS

SECTION – A Taxation of International Transactions and Non- Resident Taxation in India

Topics covered in this subject are as follows –

  1. Transfer Pricing Provisions under the INCOME TAX Act, 1961.
  2. Arm’s Length Price
  3. International Transactions

iii. Most Appropriate Method

  1. Functions, Assets and Risk Analysis
  2. Documentation & Compliances
  3. Specific Reporting Regime in respect of Country by Country reporting and master file

vii. Advance Pricing Agreements

  1. Other Provisions relating to taxation of international transactions and non-resident taxation under the Income-tax Act, 1961
  1. Non-resident Taxation (including Source Rule of Taxation)
  2. Double Taxation Relief

iii. Advance Rulings

  1. Law and Procedures under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 – An Overview

SECTION – B Other Aspects of International Transaction

The topics covered by this topics are as follows –

  1. Overview of Model Tax Conventions.
  2. OECD Model Tax Convention
  3. UN Model Tax Convention

iii. US Model Tax Convention

  1. Tax treaties, Application, and Interpretation
  2. Features of Tax treaties
  3. Overview of Tax Information Exchange Agreements

iii. Commentaries and their importance

  1. Role of Vienna Convention in application and interpretation of tax treaties
  2. Anti Avoidance Measures
  3. Controlled Foreign Corporations
  4. Base Erosion and Profit Shifting

iii. Other Anti Avoidance Measures

  1. Taxation of E-Commerce Transactions
  2. Introduction
  3. Emerging issues

iii. Equalisation levy

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

PAPER – 6D ECONOMICS LAWS

Topics covered under this subject are as follows –

  1. World Trade Organization (WTO) covering its Role, Principles, Functions and Dispute Settlement Mechanism
  2. Competition Act, 2002 and Rules/ Regulations
  3. Real Estate (Regulation and Development) Act, 2016 [Central Act and Rules/ Regulations]
  4. Insolvency and Bankruptcy Code, 2016 and Rules/ Regulations
  5. Prevention of Money Laundering Act, 2002 and Rules/ Regulations
  6. Foreign Exchange Management Act, 1999 and Rules/ Regulations
  7. Prohibition of Benami Property Transactions Act, 1988 and Rules/ Regulations

PAPER – 6E GLOBAL FINANCIAL REPORTING STANDARDS

Topics covered under this subject are as follows –

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

PAPER – 6F MULTI-DISCIPLINARY CASE STUDY

Topics covered under this subject are as follows –

This paper will include Case Studies covering the following areas.

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

Paper 7: Direct Tax Laws & International Taxation

SECTION – A : Direct Taxation

Law and Procedures under the Income-tax Act, 1961

  1. Basis of charge, residential status, income which do not form part of total income, heads of income, income of other persons included in assessee’s total income, aggregation of income,  set-off and carry forward of losses, deductions from gross total income, rebates and reliefs
  2. Special provisions relating to companies and certain persons other than a company
  3. Provisions relating to charitable and religious trusts and institutions, political parties and electoral trusts
  4. Tax Planning, Tax Avoidance & Tax Evasion
  5. Collection & Recovery of Tax, Refunds
  6. Income-tax Authorities, Procedure for assessment, Appeals and Revision
  7. Settlement of Tax Cases, Penalties, Offences & Prosecution
  8. Liability in Special Cases
  9. Miscellaneous Provisions and Other Provisions

SECTION – B : International Taxation

  1. Taxation of international transactions and Non-resident taxation
  2. The provisions under the Income-tax Act, 1961, including
  3. Specific provisions relating to Non-residents
  4. Double Taxation Relief
  5. Transfer Pricing & Other Anti-Avoidance Measures
  6. Advance Rulings
  7. Equalization levy
  8. Overview of Model Tax Conventions – OECD & UN
  9. Application and interpretation of Tax Treaties
  10. Fundamentals of Base Erosion and Profit Shifting

Paper 8: Indirect Tax Laws

Section – A : Goods and Service Tax

  1. Goods and Services Tax (GST) Law as contained in the Central Goods and Services Tax (CGST) Act, 2017 and Integrated Goods and Services Tax (IGST) Act, 2017
  2. Constitutional aspects
  3. Levy and collection of CGST and IGST – Application of CGST/IGST law; Concept of supply including composite and mixed supplies, inter-State supply, intra-State supply, supplies in territorial waters; Charge of tax; Exemption from tax; Composition levy,Place of supply, Time and Value of supply, Input tax credit,Computation of GST liability
  4. Procedures under GST – All procedures including registration, tax invoice, credit and debit notes, electronic way bill, accounts and records, returns, payment of tax including reverse charge, refund, job work
  5. Provisions relating to electronic commerce
    1. Liability to pay in certain cases
    2. Administration of GST; Assessment and Audit
    3. Inspection, Search, Seizure and Arrest
  6. Demand and Recovery
  7. Offences and Penalties
  8. Advance Ruling
  9. Appeals and Revision
  10. Other provisions

Section – B: Customs & FTP

  1. Customs Law as contained in the Customs Act, 1962 and the Customs Tariff Act, 1975
  2. Introduction to customs law including Constitutional aspects
  3. Levy of and exemptions from customs duties – All provisions including the application of customs law, taxable the event, a charge of customs duty, exceptions to levy of customs duty, exemption from custom duty
  4. Types of customs duties
  5. Classification and valuation of imported and export goods
  6. Officers of Customs; Appointment of customs ports, airports etc.
  7. Import and Export Procedures – All import and export procedures including special procedures relating to baggage, goods imported or exported by post, stores
  8. Provisions relating to coastal goods and vessels carrying coastal goods
  9. Warehousing
    1. Drawback
    2. Demand and Recovery; Refund
    3. Provisions relating to prohibited goods, notified goods, specified goods, illegal importation/exportation of goods
    4. Searches, seizure and arrest; Offences; Penalties; Confiscation and Prosecution
  10. Appeals and Revision; Advance Rulings; Settlement Commission
  11. Other provision
  12. Foreign Trade Policy to the extent relevant to the indirect tax law
  13. Introduction to FTP – legislation governing FTP, salient features of an FTP, administration of FTP, contents of

FTP and other related provisions

  1. Basic concepts relating to import and export of goods
  2. Basic concepts relating to export promotion schemes provided under FTP

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