CA IPCC & Final Latest Tax syllabus changes for November 2016 details are here. ICAI has released a notification regarding applicability of Income Computation and Disclosure Standards (ICDS) for November 2016. Following is the announcement regarding applicability of Income Computation and Disclosure Standards (ICDS) for CA IPCC & CA Final Nov 2016 Exams.

Read the Official Notification here

Applicability of Income Computation and Disclosure Standards (ICDS) for November 2016

ICDS Not Applicable for November, 2016 Exam - ICAI Notification

Students appearing in November, 2016 examination may note that Income Computation and Disclosure Standards (ICDS) shall not be applicable. ICDS need not be applied for computation of income or for answering application based or knowledge based questions [Final Paper 7: Direct Tax Laws & IPCC Paper 4: Taxation], for November, 2016 examination. This is in view of the postponement of the applicability of ICDS to the assessment year 2017-18 and subsequent assessment years by CBDT by Notification No.S.O.3079(E) dated 29.9.2016. However Students may note that the new ICDS would be relevant from May, 2017 examinations.

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Other Applicable Tax Amendments for Nov 2016 

I-Applicability of Finance Act, Assessment Year etc. for November, 2016 Exam

(1) The amendments made by the Finance Act, 2015 in income-tax and indirect taxes;
(2) The provisions of income-tax law as applicable for the assessment year 2016-17;
(3) The significant notifications and circulars issued upto 30th April, 2016 (income-tax and indirect taxes)

I. Applicability of the Companies Act, 2013 and other Legislative Amendments for Paper 1 and Paper 5 : The relevant notified Sections of the Companies Act, 2013 and legislative amendments including relevant Notifications / Circulars / Rules / Guidelines issued by Regulating Authority up to 30th April, 2016 will be applicable for November, 2016 Examination

II. Non-Applicability of Ind ASs for November, 2016 Examination for Paper 1 and Paper 5 : The Ministry of Corporate Affairs has notified Companies (Indian Accounting Standards) Rules, 2015 on 16th February, 2015, for compliance by certain class of companies. These Ind AS have not been made applicable for November, 2016

III. Non-applicability of Amendments made by MCA in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 for Paper 1 and Paper 5 : Amendments made by MCA on 30.3.2016 in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 have not been made applicable for November, 2016 examination.

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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, 2016. For updates, see

The Negotiable Instruments (Amendment) Act, 2015:The Negotiable Instruments (Amendment) Act, 2015 received the assent of the president on 26th December, 2015 and has been notified in the Official Gazette on 29th December, 2015 by the Ministry of Law and Justice.

This is an Act further to amend the Negotiable Instruments Act, 1881 and shall be deemed to have come into force on the 15th day of June, 2015.For detail click the following linkNI-Act-gazette-notification-26.12.2015.pdf
The Payment of Bonus (Amendment) Act, 2015: An Act further to amend the Payment of Bonus Act, 1965.

The Act received the assent of the President on the 31st December, 2015, and published in the Official gazette on 1st January 2016 by Ministry of Law and Justice. It shall be deemed to have come into force on the 1st day of April, 2014.

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Also Read:

CA IPCC Syllabus CA IPCC Registration CA IPCC Exam Dates
CA IPCC Papers & Mock Tests CA IPCC Study Plan CA IPCC Suggested Answer
CA IPCC Revision Test Papers CA IPCC Study Material CA IPCC Important Dates



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