Dear CA Inter Students , today is the last date to fill exam form for September 24 exams.
Gentle Reminder!!

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CA Foundation RTPs September 2024 https://castudynotes.com/2024/07/21/ca-foundation-september-2024-revision-test-papers-rtps-in-pdf-at-one-place/

first time icai providing RTPs for Eco and Maths too.. kindly solve it guyss maybe chances are high to come in exam few questions from it.

Happy Guru Purnima 🌷🌷
Special Cake for CA Students.. 😅

CA Foundation RTPs September 2024 https://castudynotes.com/2024/07/21/ca-foundation-september-2024-revision-test-papers-rtps-in-pdf-at-one-place/

🎁 CA Foundation Mock Test Papers (MTPs) Series- III for June 2024  :

💡Question Papers & Suggested Answers for June 2024 Exams :

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📍 Paper - 1: Accounting

💙Question Paper
https://www.tg-me.com/canotes_foundation/29188

🖤Suggested Answers
https://www.tg-me.com/canotes_foundation/29189

📍 Paper - 2: Business Law

💙Question Paper
https://www.tg-me.com/canotes_foundation/29190

🖤Suggested Answers
https://www.tg-me.com/canotes_foundation/29191

📍 Paper - 3: Maths, LR & Stats

💙Question Paper
https://www.tg-me.com/canotes_foundation/29192

🖤Suggested Answers
https://www.tg-me.com/canotes_foundation/29193

📍 Paper-4: Business Eco

💙Question Paper
https://www.tg-me.com/canotes_foundation/29194

🖤Suggested Answers
https://www.tg-me.com/canotes_foundation/29195

🕹Download All MTPs at Once Place
https://tinyurl.com/CA-Found-MTPs-3-June-2024

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📲Download Series I June 2024
https://tinyurl.com/CA-Found-MTP-1-June-2024

📲Download Series II June 2024
https://tinyurl.com/CA-Found-MTP-Series-II-June24

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Happy Learning and Keep Sharing

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Indian Budget :- Few Facts

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👤 How to deal with theory papers in CA Exams...!!

💁 Must Read

📍For more Study Related Tips Join @ICAIexamtips On Telegram.

Word of the Day

Average Buying Price


It is the average amount an investor has paid to buy shares of a company.

Investors try to buy stocks when the price falls. It helps them reduce the average buying price.
Lower average buying price = higher profit (when the share goes up).

Example:

Say an investor likes a company ABC Ltd. He plans to invest in it for more than 10 years.

The price of this share changes with time — it goes up and down.

But the investor thinks that in 10 years, the price will be at Rs 90.
So, he tries to buy shares whenever he can.

This is how he bought shares of this company:

Jan 2021:
-200 shares
-price = Rs 20 per share
-therefore total price = Rs 4,000

Jan 2022:
-300 shares
-price = Rs 26 per share
-therefore total price = Rs 7,800

Jan 2023:
-200 shares
-price = Rs 18 per share
-therefore total price = Rs 3,600

The average buying price for this stock is:
Avg buying price = (total money paid) divided by (total shares)
Average buying price:
This is = (4,000 + 7,800 + 3,600) / (200 + 300 + 200)
Or, it is = 22
So, Rs 22 is the average buying price in this example.

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C A – Challenge It & Achieve It


“Hopes may vanish, dreams might fulfil but the fierce desire in our soul will definitely reach our goal”.

Yes, I was a CA student who reached the bottom part called failure and yes, I am a CA student who touched the peak of mountain called success.

For me CA profession was not a choice it was my desire to be, after my high school graduation I started my fruitful CA journey.

I scored 97.2% in AP Intermediate exams, then cleared my CPT foundation on my first attempt and literally it was going flawless.

Without any deviations in my confidence levels I gave my IPCC exams.

And it was the day where we all will be eagerly waiting for the positive four golden letters to flash on the screen.

My parents were preplanning my success arrangements on prediction at home as if they have seen my results. And I was like nervous literally to say I was crumbled with mixed emotions.

The moment I heard “Results declared”, I was not able operate my familiar mobile keypad, and then when I saw the screen with letters which I didn’t expect. Slowly my screen was getting blur and I was broken down. My brain got shut for few minutes. I couldn’t even forget that pain.

Then I realized, “Yes, I should digest this and it is not something abnormal happened to me” I questioned why can’t I fight again? Why I am struck? Why won’t I win this time? If they can why can’t I?

I started to fight again and this time I didn’t feel that nervousness like before because I came from that situation. And the screen was ready to show my four letters golden destiny.

Yes, from that day onwards I am called as “Semi Qualified Chartered Accountant”.


By Alekhya K V (Semi Qualified CA)  

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New Tax Regime Tax Slabs for F.Y. 24-25

0-3L = Nil
3L to 7L = 5%
7L to 10L = 10%
10L to 12L = 15%
12L to 15L = 20%
Above 15L = 30%

Standard Deduction 75,000

Explanation: due to change in standard deduction maximum tax saving opportunity is 7,500 and due to change in tax rate of new regime 10,000. Total 17,500.

Stock Market
1. Equity long term is now 12.5% earlier 10%
2. Short term equity tax : 20% earlier 15%
3. STT on F&O: 0.02 earlier 0.01

Long Term Capital Gains Exemption
New Exemption Limit: ₹1.25 Lakhs
Previous Exemption Limit: ₹1 Lakh
The changes done in LTCG, STCG are Applicable from TODAY (23rd July) and not from 1st April.

Section 194T: Payments to Partners of Firms

1. Tax Deduction Requirement: If a firm pays a partner any amount as salary, remuneration, commission, bonus, or interest, the firm must deduct 10% income tax at the time of crediting the amount to the partner's account or when making the payment, whichever happens first.

2. Exemption from Deduction: No tax deduction is required if the total amount paid or credited to the partner during the financial year is ₹20,000 or less.

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*Highlights of Budget 2024-25*



✅India’s inflation continues to be low, stable and moving towards the 4 per cent target

✅3 schemes for ‘Employment Linked Incentive’, as part of the Prime Minister’s package. These will be based on enrolment in the EPFO, and focus on recognition of first-time employees, and support to employees and employers.

✅Education Loan- support for loans upto ` 10 lakh for higher education in domestic institutions. E-vouchers for this purpose will be given directly to 1 lakh students every year for annual interest subvention of 3 per cent of the loan amount.

✅Credit Guarantee Scheme for MSMEs in the Manufacturing Sector

✅The limit of Mudra loans will be enhanced to ₹ 20 lakh from the current ₹ 10 lakh for those entrepreneurs who have availed and successfully repaid previous loans

✅Internship in Top companies- An internship allowance of  5,000 per month along with a one-time assistance of  6,000 will be provided. Companies will be expected to bear the training cost and 10 per cent of the internship cost from their CSR funds.

✅3 medicine for cancer patient- Custom Duty exempted

✅BCD on mobile phone, mobile PCBA and mobile charger reduced to 15 per cent.

✅Full exemption customs duties on 25 critical minerals and reduce BCD on two of them

✅Goods for manufacture of leather and textile garments, footwear and other leather articles for export exempted.
Customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent.

✅TDS rate on e-commerce operators is proposed to be reduced from one to 0.1 per cent.

✅An assessment hereinafter can be reopened beyond three years from the end of the assessment year only if the escaped income is ₹ 50 lakh or more, up to a maximum period of five years from the end of the assessment year. Even in search cases, a time limit of six years before the year of search, as against the existing time limit of ten years, is proposed.

✅Short term gains on certain financial assets shall henceforth attract a tax rate of 20 per cent,

✅Long term gains on all financial and non-financial assets, on the other hand, will attract a tax rate of 12.5 per cent

✅Limit of exemption of capital gains on certain financial assets increased to ₹ 1.25 lakh per year
Listed financial assets held for more than a year will be classified as long term, while unlisted financial assets and all non-financial assets will have to be held for at least two years to be classified as long-term.

✅Increase Monetary limits for filing appeals related to direct taxes, excise and service tax in the Tax Tribunals, High Courts and Supreme Court to ₹ 60 lakh, ₹ 2 crore and ₹ 5 crore respectively.

✅Security Transactions Tax on futures and options of securities is proposed to be increased to 0.02 per cent and 0.1 per cent respectively

✅Standard deduction for salaried employees is proposed to be increased from ₹50,000/- to ₹75,000/- under New Tax regime. Slab rate changed under NTR

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