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🌸✨जन्माष्टमी की हार्दिक शुभकामनाएं✨🌸
भगवान श्रीकृष्ण की कृपा आप पर सदैव बनी रहे।
उनकी बांसुरी की मधुर धुन आपके जीवन में प्रेम, आनंद और शांति भर दे।
आपके घर-आँगन में सदैव खुशियाँ, समृद्धि और सौभाग्य का वास हो।
🙏🌿🌼
जय श्रीकृष्ण 🌼🌿🙏
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_ATTENTION_ 📢🚨⚠️
ADMIT CARD FOR SEPTEMBER 2025 EXAMS (INTER AND FOUNDATION) IS RELEASED
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Big Update – Income Tax Bill 2025 Passed!
Today, Parliament has officially passed the Income Tax Bill 2025 ✅
It will kick in from 1 April 2026 (FY 2026-27).
📢 Attention May 2027 onwards Exams students (CA/CS/CMA) – Your exams will be under the NEW Income Tax Law!
So, don’t waste money on classes for the old Income-tax Act, 1961 if your attempt is May 2027 or later.
Get ready for a fresh start! 💪📚
— CA Bhanwar Borana
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*☑️ Lok Sabha Passes New Income Tax Bill, 2025 After Heated Discussions*
In a *significant legislative development*, the Lok Sabha has passed the *new Income Tax Bill, 2025* after *intense debates and deliberations*. The move comes following the withdrawal of an earlier draft of the Bill to address drafting errors and ambiguities.
*🧩Background*
The revised legislation incorporates recommendations from the Select Committee, aiming to replace the Income-tax Act, 1961 with a more transparent, taxpayer-friendly framework.
*📑INCOME-TAX (No.2) BILL, 2025*
This Bill is a complete overhaul and rewrite of India's income-tax law, replacing the Income-tax Act, 1961, and scheduled to take effect from 1 April, 2026.
*India’s New Tax Code:*
➤ 536 Clauses
➤ 23 Chapters
> Originality hold By : *TaxQuill* WhatsApp Channel
*⛳️ Key Objectives of the New Bill*
➤ *Simplified Language*: The Bill seeks to make tax provisions easier to understand for both taxpayers and professionals.
➤ *Reduced Litigation*: Focuses on minimizing disputes through clearer drafting and rules.
➤ *Taxpayer-Friendly System*: Designed to streamline compliance and improve taxpayer experience.
*💢Why the Change Was Needed*
The previous draft of the Income Tax Bill, 2025, faced *criticism for lack of clarity and potential* for interpretational disputes. The *government withdrew it to ensure the replacement law* is *clear, fair, and effective* in meeting modern economic and administrative needs.
With *its passage in the Lok Sabha*, the Bill will now move to the *Rajya Sabha* for consideration before it becomes law.
⸻
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Indian army chief- "The next war which we are looking at, it may happen soon, we've to prepare accordingly."
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SM CA INTER MOST EXPECTED QUESTIONS - SEP 25
> CH-1
Advantages and Limitations of SM (Must do - Repetitive)
Proactive and reactive (Not Important- JUST READ)
Value and vision (Not Important, already asked in May-25)
Mission (Must do)
Objective and it's characteristics (Read Once specially characteristics )
Levels of SM and their linkage (Read Once)
> Ch-2
Porter 5 Force model (Must do with proper attention as repetitive - nature of new entrant, Nature of rivalry & others )
Importance of business environment
Characteristics of product/Service
Key success factor (Not important)
Value chain ( Not important)
PLC & Globalization ( Read once and retain summary)
Customer behaviour influence (Not asked yet - read once)
> Ch-3
Micheal porter's generic strategy (Repetitive)
- Cost leadership
- Differentiation (asked)
- Focus
Strategic drivers (Read Once)
- Must do Strategic Group Mapping
Core competencies (Must do)
Competitive advantages (Read once -asked last attempt)
Criteria to determine capabilities that are core competencies (Must do)
Mendlow matrix ( Read Once)
> Ch-4
Reasons for stability
Expansion (Whole topic must do)
Action plan for turnaround (Repetitive)
BCG/GE Martix/ADL draw matrix by self and its point for MCQ
Ch-5 ( No Prediction)
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*AUDIT CA INTER MOST EXPECTED QUESTIONS – SEPT 2025*
> Chapter-1
Assurance Engagement
Review Engagement – question on limited procedure, SAE, limited conclusion. Difference between audit and review or case study to identify review engagement.
Standard on Related Services (MCQ possible – Opinion part) – Never asked before.
Overall objective and link with inherent limitations & collusion.
Nature of Audit Procedures (Practical & Legal Limitations)
Scope of Audit
Section-based case study on proper disclosure of financial info.
Audit vs Investigation – case study on insurance/fraud.
> Chapter-2
Matters to be described in audit plan.
How an engagement partner ensures ethical compliance & independence (SA 220).
Disadvantages & remedies for Audit Programme.
Periodic review, open-minded assistants.
Factors affecting direction/supervision of engagement team.
Establishing overall Audit Strategy (including engagement scope).
Chapter-3
Factors to determine significant risk.
ROMM higher for non-routine transactions.
SA 315 – Analytical procedures stage.
SA 320 – Performance Materiality, benchmark, revision.
Evaluation of Internal Control – inventory & creditors.
Case study on inherent/control/detection risk.
Automated environment & data analytics.
SA 330 – Matters in determining extent of test of controls.
> Chapter-4
SA 500 – Inquiry & Inspection (application-based), relevance & reliability of audit evidence.
SA 501 – Inventory existence & condition (case study).
SA 505 – Management refusal for confirmation, designing confirmation request.
SA 510 – Objectives & audit procedures for opening balances (high chance).
SA 530 – Misstatement projection, sample size (MCQ), sampling methods.
SA 520 – Analytical procedures as substantive procedure, factors affecting them.
SA 550 – Related party documentation & risks with examples.
SA 610 – Evaluating Internal Audit function.
> Chapter-5
Assertions (MCQ).
Rights & obligations, valuation – PPE, intangible assets.
Inventory valuation (include scrap), test count.
Trade receivable completeness (cut-off).
Disclosures:
Cash & cash equivalent
Ageing schedule
Benami property
Virtual currency
Utilization of share premium/borrowing
Capital WIP
Dividend (MCQ)
Employee benefit expense
Reduction of share capital
> Chapter-6
Documentation of significant matters & related auditor judgment.
Administrative changes (assembly of final audit file).
> Chapter-7
SA 260 – Communication with TCWG (significant findings, objectives).
SA 265 – Communicating deficiencies (examples, indicators).
SA 450 – Evaluation of misstatements (written representation MCQ possible).
SA 570 – Going concern (risk assessment, adequate disclosure, reporting cases).
SA 560 – Subsequent events (procedures, types with examples – MCQ).
SA 580 – Written representation refusal (MCQ possible).
> Chapter-8
SA 299 – Joint audit responsibilities, joint audit plan, special considerations.
SA 700 – Evaluations, basis for opinion.
Limitations after accepting engagement.
SA 705 – Basis for opinion cases.
KAM/EOM not substitutes.
Sec 143(3), Rule 11 – Audit trail points.
CARO 2020 – Applicability, CSR, fraud, deposits, inventory, fixed assets, borrowing (subclauses iii & iv).
> Chapter-9
Govt audit – powers, propriety, performance audit.
Cooperative societies (MCQ).
Multistate co-op society – special audit, inquiries.
LLP (MCQ focus).
Legal forms of charitable institutions.
Hotel audit – internal control, assets/liabilities.
Local bodies – reporting objectives, revenue grant.
> Chapter-10
Advances – NPA norms (calculation), audit approach, IC evaluation, income reversal, agricultural advances, stock audit MCQ.
Other topics – statutory auditor considerations, risk management process.
> Chapter-11
Professional skepticism.
SA 210 – Change in terms (case study, tricky MCQ).
SQC-1 – Acceptance/continuance of client relationship (case study in ICAI module).
SA 220 – Documentation.
Identifying ethical violations & threats (case study + MCQ).
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भाई-बहन के असीम प्रेम एवं स्नेह को समर्पित
रक्षाबंधन के पावन पर्व की हार्दिक शुभकामनाएं.
