Update Regarding Amendments In Taxation (Income Tax + GST) For CA-Intermediate May 2020 Exams:

Both amendment notes and amendment classes are in the final stages of finalization. Amendment notes would be made available on the group in next 2-3 days whereas the amendment classes would be uploaded on YouTube in maximum a week's time.

Note: Release of amendment notes and classes was put on hold due to delay in release of Statutory Updates Material by ICAI. The same has been released by ICAI, so our material shall now follow suit.

Imp Announcement Regarding ICAI's Study Material | CA Vijender Aggarwal
https://youtu.be/iP-j8PvmqGI

Topic - Payment of GST (Chapter-9)

Whether cross-utilization of funds across major & minor heads of Electronic Cash Ledger is permissible or not.

Effective Position For May 2020 Exams:
Cross-utilization is NOT permissible.

Effective Position For Nov 2020 Exams:
Cross-utilization is permissible.

I had discussed in the class that I would get a confirmation from ICAI and would get back to you guys. And ICAI has agreed that there is an error in ICAI's Study Material.

Snapshot Of Reply Received From BOS-ICAI

INCOME TAX AMENDMENTS APPLICABLE FOR CA-INTERMEDIATE MAY 2020 ATTEMPT (PY 2019-20; AY 2020-21):

The attached document contains detailed discussion on all the income tax amendments applicable for CA-Intermediate May 2020 Exams. The amendments have been discussed chapter-wise (chapter number specified is as per our main Income Tax Books). Kindly note that there are no amendments in the following topics:
 Chapter 2 (Taxation of Gifts)
 Chapter 3 (Taxation of Dividends)
 Chapter 6 (Agricultural Income)
 Chapter 7 (Set-off & Carry-Forward of Losses)
 Chapter 8 (Clubbing of Income)
 Chapter 9 (Other Sources)
 Chapter 13 (Advance Tax)
 Chapter 17 (Miscellaneous Topics)

A new topic has been added in the syllabus from May 2020 exams in CA-Intermediate, ie ‘Alternate Minimum Tax’. Notes of AMT topic have already been provided on the channel in the month of November whereas the video of the same has also been made available on YouTube.

Regards,
Vijender

Video covering the above amendments would be released on IGP's YouTube Channel in another 2-3 days.

In May 2020 & Nov 2020 examination, income tax questions shall be examined as per PY 2019-20 (AY 2020-21). As stated earlier, in order to have a firm grip on procedural aspects of Q&A due to change in assessment year, it is advisable to practice questions from the new book. In case you wish to place an order for books, drop a WhatsApp message at 8076689845.

Further, there is no change as such in Chapter 5 (Residential Status & Scope of Total Income). The only thing that is to be kept in mind is that PY 2019-20 is a leap year and thus number of days in PY 2019-20 should be taken as 366 days instead of 365 days.

Students who have attended classes of Sep 2019 Batch in F2F/Satellite/Recorded/Google-Drive/Pen-Drive mode need not worry about any amendments for May 2020 attempt as all the applicable amendments have been discussed during the course of classes itself and the study material provided to you is updated in all respects in so far as May 2020 examination are concerned.

The same can also be referred by the students of CS-Executive Course/CMA-Intermediate Course for June 2020 exams.

GST AMENDMENTS APPLICABLE FOR CA-INTERMEDIATE MAY 2020 ATTEMPT:

The attached document contains detailed discussion on all the GST amendments applicable for CA-Intermediate May 2020 Exams (ie, the amendments that have taken place between 1st May 2019 to 31st October 2019). The amendments have been discussed chapter-wise (chapter number specified is as per our main GST Book).

Video covering the above amendments would be released on IGP's YouTube Channel shortly.

Regards,
Vijender

GST 4th Edition Book was updated till 30th April 2019. Therefore, the above amendments are to be taken note of by those students who are studying from GST 4th Edition Book. The 4th Edition was provided to the students of Feb 2019 as well as June 2019 students. Further, the same was also provided to the students who had purchased PD/GD lectures of Feb 2019 Batch.

IMPORTANT MESSAGE FOR STUDENTS OF SEP 2019 BATCH (F2F/SATELLITE/PEN-DRIVE/GOOGLE-DRIVE):

GST 5th Edition Book has been made available to you. The 5th Edition of GST Book is updated till 31st October 2019 and captures all the applicable amendments for May 2020 Exams. Therefore, you guys don’t need to refer the amendment notes which are separately released by us for May 2020 Exams. However, ICAI has recently released its ‘GST Statutory Updates’ document for May 2020 Exams and it incorporates discussion on certain circulars/notifications, which was not taken up during the course of lectures. Such circulars/notifications have been discussed in the attached document. Kindly go through the same – a single reading of the attached document would suffice for examination purposes.

Regards,
Vijender

All students who are wishing to appear in May 2020 exams or onwards, pls ensure that you have gone through this document also as the same has been discussed in detail in ICAI's Study Material.

ICAI has released its RTP for May 2020 Exams. The same is being shared herewith for your records.

Guys - pls refer the updated attachment as one topic was mistakenly left in the document shared earlier.

CA-Intermediate Taxation:

Few examples on calculation of surcharge and marginal relief under income tax for practice of students who have not attended Sep 2019 Batch. (As per PY 2019-20; AY 2020-21)