DT MCQ 1
Saffron Tiles, Morbi, gives a resident dealer a smartphone as a sales incentive. Saffron bought the phone for ₹1,20,000; its MRP is ₹1,40,000. What must Saffron do?
A) Ensure TDS of ₹12,000 has been paid before handing over the phone
B) Deduct TDS of ₹14,000 on the MRP
C) Nothing, since the benefit is in kind
D) Deduct TDS of ₹12,000 within a month after handing it over
Answer: A
Why it's a trap: Section 194R covers benefits in kind above ₹20,000. When the giver bought the item, it is valued at the purchase price, not the MRP. And because there is no cash to deduct from, the giver must make sure the tax is paid before the benefit is released.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 4 (Direct Tax), Q4(a).
Find out which topics cost you marks: free timed MCQ 1 at camcqs.com
Saffron Tiles, Morbi, gives a resident dealer a smartphone as a sales incentive. Saffron bought the phone for ₹1,20,000; its MRP is ₹1,40,000. What must Saffron do?
A) Ensure TDS of ₹12,000 has been paid before handing over the phone
B) Deduct TDS of ₹14,000 on the MRP
C) Nothing, since the benefit is in kind
D) Deduct TDS of ₹12,000 within a month after handing it over
Why it's a trap: Section 194R covers benefits in kind above ₹20,000. When the giver bought the item, it is valued at the purchase price, not the MRP. And because there is no cash to deduct from, the giver must make sure the tax is paid before the benefit is released.
📌 ICAI set this exact trap in the May 2026 CA Final exam, Paper 4 (Direct Tax), Q4(a).
Find out which topics cost you marks: free timed MCQ 1 at camcqs.com
Got a question wrong in your mock? Here’s how to fix it before the exam ⬇️
https://youtube.com/shorts/qXU01026OmY
https://youtube.com/shorts/qXU01026OmY
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How to practise your mistakes on CA-MCQs 📱 #CAFinal
Got questions wrong in a CA Final mock? Here's how to practise them...
⏱ One question. Five seconds.
A stock future falls from Rs. 1,200 to Rs. 1,165 over two days. What margin call do you get on day 2?
https://www.youtube.com/shorts/JAV4UcXE8wI
A stock future falls from Rs. 1,200 to Rs. 1,165 over two days. What margin call do you get on day 2?
https://www.youtube.com/shorts/JAV4UcXE8wI
YouTube
CA Final AFM: one lot, two settlement days, one margin call. Can you answer? #camcqs #icai
Question: You buy one lot of a stock future, 500 shares at Rs. 1,20...
Plot agreed at Rs. 80 lakh. Stamp duty value Rs. 86 lakh on the agreement date, Rs. 95 lakh at registration. Part payment came 10 days after the agreement.
What's the full value of consideration? Pause, answer, then watch the reveal 👇
MCQ 1 of every CA Final paper is free: https://www.camcqs.com
https://www.youtube.com/shorts/_Q3VAcghiLw
What's the full value of consideration? Pause, answer, then watch the reveal 👇
MCQ 1 of every CA Final paper is free: https://www.camcqs.com
https://www.youtube.com/shorts/_Q3VAcghiLw
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🔥 CA FINAL NOV 2026 — DON’T IGNORE MCQs!
100+ students have already joined the practice. Now it’s your turn! 📚
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100+ students have already joined the practice. Now it’s your turn! 📚
The new exam pattern means MCQs deserve dedicated practice — speed, accuracy & conceptual clarity can make a real difference.
🎯 Practice MCQs like you would practice your main paper.
✅ 1 FREE TEST in every subject
✅ 4 additional tests per subject
✅ All 6 CA Final subjects covered
✅ Analyse your performance & identify where you’re losing marks
💰 NOV 2026 EXAM OFFER:
₹79 — Any 1 subject
₹199 — 1 Group
₹399 — Both Groups
⏳ LIMITED-TIME OFFER — Ends 20th October(6 DAYS LEFT)!
Don’t wait until the exam to realise you needed more MCQ practice.
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AFM MTP 2 CASE SCENARIO MCQs
Mr. Arvind Mehta, a retired corporate executive has accumulated a diversified investment portfolio consisting of equily shares, debt securilies, gold ETFs and real estale investment trusts (REITs). He consults his investment advisor annually to review his portfolio
During the latest review, the advisor presents different approaches to asset allocation. In one approach, the portfolio is designed after considering both the prevailing capital market outlook and Mr. Mehla's financial objectives and constraints. In another approach, the portfolio is constructed using long-lerm historical return, risk and covariance dala and is periodically rebalanced to restore the desired asset mix. A third approach assumes that Mr. Mehla's risk tolerance remains unchanged but modifies the asset allocation whenever expectations about capital market conditions change. Finally, the advisor explains an approach under which Mr. Mehta's exposure to risky assets increases as his portfolio value grows and decreases if the portfolio value falls, thereby protecting a minimum level of wealth
Based on the above case scenano, answer the following questions.
CHECK NOW👇 IF YOU CAN ANSWER IT CORRECTLY!!
Mr. Arvind Mehta, a retired corporate executive has accumulated a diversified investment portfolio consisting of equily shares, debt securilies, gold ETFs and real estale investment trusts (REITs). He consults his investment advisor annually to review his portfolio
During the latest review, the advisor presents different approaches to asset allocation. In one approach, the portfolio is designed after considering both the prevailing capital market outlook and Mr. Mehla's financial objectives and constraints. In another approach, the portfolio is constructed using long-lerm historical return, risk and covariance dala and is periodically rebalanced to restore the desired asset mix. A third approach assumes that Mr. Mehla's risk tolerance remains unchanged but modifies the asset allocation whenever expectations about capital market conditions change. Finally, the advisor explains an approach under which Mr. Mehta's exposure to risky assets increases as his portfolio value grows and decreases if the portfolio value falls, thereby protecting a minimum level of wealth
Based on the above case scenano, answer the following questions.
CHECK NOW👇 IF YOU CAN ANSWER IT CORRECTLY!!
The above Case Scenario question isn’t new — it’s straight from the Concept in ICAI Study Material! 📚👇
CA FINAL AFM Ch 6-Portfolio Management Page 6.62
Study the ICAI SM thoroughly. Every concept can become an MCQ!
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CA FINAL NOV 2026 MTP 1 & 2 MCQ 30 MARKS ANALYSIS BY CAMCQS📊
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🎯 5 Audit MCQ traps ICAI has actually set (Sep 2025, May 2025 and May 2026 papers), and how to beat each one: Regulation 192, EoM vs qualified, SA 560, SA 450 and EQCR.
▶️ Watch now: https://youtu.be/BzMHrQuC0ss · then drill the same traps free on camcqs.com
▶️ Watch now: https://youtu.be/BzMHrQuC0ss · then drill the same traps free on camcqs.com
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Top 5 Audit Trap questions #icai #icai_students_group #icaistudents #charteredaccountant #audit
Five traps ICAI has actually set in CA Final Audit (Paper 3) MCQs, and how to beat each one. For each trap: the ICAI question, three seconds to answer, the words that decide it, ICAI's answer and the rule. Then the same trap, drilled on CA-MCQs.
AUDIT RTP NOV 2026 MCQ 7
A bank proposes to shift certain Government securities from the “Available for Sale” (AFS) category to the “Held to Maturity” (HTM) category. The securities satisfy the conditions for classification as HTM, and the ALCO has approved the proposed shift. However, no approval of the Board of Directors has been obtained. The management contends that the absence of Board approval should not affect the classification since the securities otherwise qualify for HTM. Which of the following is the most appropriate treatment?
(a) The securities may be classified as HTM, since compliance with the eligibility conditions for HTM is the primary requirement and the approval of ALCO provides adequate internal authorisation for the transfer.
(b) The securities cannot be transferred to HTM merely on the basis of ALCO approval, since the prescribed approval requirements for such transfer must be complied with in addition to the eligibility conditions for HTM classification.
(c) The securities may be classified as HTM if the bank discloses the absence of Board approval and demonstrates that its intention to hold the securities until maturity existed at the time of their original acquisition.
(d) The securities should continue to be classified as AFS only for the year of transfer and may thereafter be classified as HTM once the Board subsequently approves the transfer.
Concept: Investment - "Examination of classification and shifting" - Audit Procedure (Page 14.29 of ICAI SM).
Chapter: Audit Of Banks
A bank proposes to shift certain Government securities from the “Available for Sale” (AFS) category to the “Held to Maturity” (HTM) category. The securities satisfy the conditions for classification as HTM, and the ALCO has approved the proposed shift. However, no approval of the Board of Directors has been obtained. The management contends that the absence of Board approval should not affect the classification since the securities otherwise qualify for HTM. Which of the following is the most appropriate treatment?
(a) The securities may be classified as HTM, since compliance with the eligibility conditions for HTM is the primary requirement and the approval of ALCO provides adequate internal authorisation for the transfer.
(b) The securities cannot be transferred to HTM merely on the basis of ALCO approval, since the prescribed approval requirements for such transfer must be complied with in addition to the eligibility conditions for HTM classification.
(c) The securities may be classified as HTM if the bank discloses the absence of Board approval and demonstrates that its intention to hold the securities until maturity existed at the time of their original acquisition.
(d) The securities should continue to be classified as AFS only for the year of transfer and may thereafter be classified as HTM once the Board subsequently approves the transfer.
Chapter: Audit Of Banks
⏱️ CA Final IDT:
An e-way bill for goods moving 520 km by road (not over-dimensional cargo) is generated, with Part B filled in, at 11:30 pm on 10 October.
Till when is it valid?
A. Midnight at the end of 12 October
B. 11:30 pm on 13 October
C. Midnight at the end of 13 October
D. Midnight at the end of 14 October
What will be your answer?
▶️ Answer and explanation in the Short: https://youtube.com/shorts/wIXQ0bewWyU?feature=share
ICAI tested this same rule in the May 2026 IDT paper.
An e-way bill for goods moving 520 km by road (not over-dimensional cargo) is generated, with Part B filled in, at 11:30 pm on 10 October.
Till when is it valid?
A. Midnight at the end of 12 October
B. 11:30 pm on 13 October
C. Midnight at the end of 13 October
D. Midnight at the end of 14 October
What will be your answer?
▶️ Answer and explanation in the Short: https://youtube.com/shorts/wIXQ0bewWyU?feature=share
ICAI tested this same rule in the May 2026 IDT paper.
YouTube
IDT - Till when the e-way bill valid? #cafinal #cafinal2026 #caexams
Working: 520 / 200 = 2.6, so 3 days (rule 138(10) of the CGST Rules...
We went through all 6 new-syllabus AAAPE papers (May 2024 – May 2026) and tagged every single question for an analysis.
Some patterns were hard to ignore:
🔹 One topic came up in all 6 papers, as a 5-marker or an MCQ
🔹 Two 4-mark sub-questions went to the same chapter in 5 papers out of 6
🔹 Q4(c) kept going to one topic too
https://youtube.com/shorts/oy9ixGaGb1M?feature=share
Some patterns were hard to ignore:
🔹 One topic came up in all 6 papers, as a 5-marker or an MCQ
🔹 Two 4-mark sub-questions went to the same chapter in 5 papers out of 6
🔹 Q4(c) kept going to one topic too
https://youtube.com/shorts/oy9ixGaGb1M?feature=share
YouTube
What ICAI keeps asking in CA Final Audit #cafinal #castudents #icai
CA Final Audit (AAAPE) important topics, based on all 6 new-syllabu...