Tea is not a foodstuff.

HELLO PEOPLE.  HOW ARE YOU ? I HOPE YOU ALL ARE DOING GO

OD.

You might be surprised from the title .tea is not a food stuff! really.  you think 

all the reasons why tea is not included in a foodstuff.supreme court held that tea is not a foodstuff. they also point out all the reasons. And you might thinking that  i am kidding with you, but no i am not kidding with you.

 

to know why tea is not covered under foodstuff.  download pdf file in which supreme court held that tea is not a foodstuff.

to get to know why tea is not a foodstuff click here to download pdf file.

if you like my post please share it with you friends and groups. and you can comment on which topic you want pdf notes, simple explainition, or guidance. we will try our best.

thank you so much.

Happy learning.

CAPITAL MARKET AND SECURITY LAW IMP TPOICS.

HELLO FRIENDS. HOW ARE YOU ? I HOPE YOU ALL ARE FINE.

IN THE PREVIOUS POST I SHARED PDF FILE OF DEPOSITORY ACT,1996 WHICH IS USEFUL FOR BOTH CS EXECUTIVE OLD AS WELL AS NEW SYLLABUS STUDENTS.

TODAY I AM PROVIDING A LIST OF IMP TOPICS OF CMSL ( ONLY PART-A) WHICH SHOULD PREPARED VERY WELL CS EXECUTIVE CMSL PAPER ( OLD SYLLABUS).

I ALSO ADDED SOME TOPICS WHICH IS LESS IMP BUT IT COULD ASK IN EXAM IF PAPER SETTER WANTS TO SET STRICT PAPER.

AND WE ALL KNOW THAT THIS IS PROFESSIONAL EXAM. DO NOT DEPEND ON THE IMP TOPICS LIST.  DO ALL THE CHAPTERS PROPERLY.

TO DOWNLOAD THE LIST OF IMP TOPICS OF CMSL . CLICK HERE

IF YOU LIKE THE POST  THEN  PLEASE SHARE IT WITH YOUR FRIENDS. AND DO COMMENTS ON WHICH TOPIC YOU WANT THEORY NOTES , OR  ANY  GUIDANCE. WE WILL GIVE OUR BEST.

THANK YOU SO MUCH.

HAPPY LEARNING.

Depository

SEBI BHAVAN

 DEPOSITORY ACT,1996.


Hello guys, how are you?

I hope you all are fine.
I prepared notes of Depository chapter
Which is very important from exam point of view.
And this notes will be useful for both old  as well as new syllabus cs executive student.

And this notes is for revision purpose once you done the whole chapter then refer my notes.
It will help you to revise the whole chapter in an hour*.

So what are you waiting for?
Go and download from link which I given in my blog.

To download the note   click here

HOW TO STUDY TAX?

HOW  TO  STUDY TAX ?

Hello guys, how are you? I hope you all are fine. And giving your best efforts in preparation. Don’t take too much stress about exams just give your best.  And still guys we have time( JUNE 2020 STUDENTS). Just you have to do few things.

1)    Proper revision.

2)    Writing practice ( I meant to say solve one or two case law base question with writing practice.)

3)    Bifurcate all the chapter into 3 categories.

A CATEGORY : MOST IMP CHAPTERS.

B CATEGORY : PREPARE B CATEGORY CHAPTERS  ALONG WITH A CATEGORY CHAPTERS TO THE PASS THE EXAMS.

C CATEGORY : LESS IMP CHAPTERS. ( IT DOES NOT MEAN WE COULD SKIP C CATEGORY CHAPTERS.  

LISTEN FRIENDS I AM JUST TELLING YOU TO BIFURCATE. WE HAVE TO DO ALL THE CHAPTERS. BUT 1^ST WE WILL GIVE PRIORITY TO A CATEGORY THEN  B CATEGORY AND C CATEGORY.

Today we are going to talk about HOW TO STUDY TAX? As CS student I can understand tax is headache for almost students but there are so many students who loves to study tax.

As company secretary student we should have proper command in company law, economic and commercial laws, security laws, labour laws etc. But we must have common understanding about tax subject.

Image may subject to copyright. i am using that image for education and fair purpose. and not violating any provision of  copyright act,1957.

Before we start let’s understand objective OF TAX LAW AND PRACTICE PAPER IN CS EXECUTIVE.

IN THE CORPORATE WORLD CS HAS TO DEAL WITH MANY LAWS. CS SHOULD BE WELL EQUIPPED WITH BASICS OF TAX PRACTICES. THIS HELPS STUDENTS TO LEARN AND UNDERSTAND INCOME TAX ACT, GST, AND CUSTOM ACT.

See the video why we have to study tax?    . to see  click here.

the video credit goes to cma vipul shah sir.

WITHOUT WASTING ANY TIME LET’S GET STARTED.

IN EXECUTIVE LEVEL TAX LAWS ARE DIVIDED INTO 2 PARTS.

PART 1 : DIRECT TAX 50 MARKS.

PART 2 : INDIRECT TAX 50 MARKS.

CS executive tax laws paper is being held in the OMR format, whereby students are required to answer MCQ question on OMR sheet. I know I know guys what you are thinking is  tax laws paper in MCQ based question format. Tax is combination of practical as well as theory. In mcq based paper one mark is awarded for each correct answer.

I am trying to say this   choose appropriate option ,otherwise you will not get any marks. In descriptive based paper you will get steps marking subject to such terms and conditions. But in MCQ format you will not get any steps marks.

HOW TO PREPARE TAX ?

TAX is vast subject. Preparation should be begin well in advance. And tax is divided into 2 parts it becomes very easy for us to make effective plan.

In case you start with 1^st part that is direct tax , you should do selective reading of particulars chapters.

Preparation strategy :  1^st do introduction part.

·       2nd  income exempt from tax. ( imp chapter because this chapter has so many linkage in other chapters. So my suggestion is please learn this chapter and revise properly.

·      3rd  Do all 5 heads ( it is not only imp from exam point of view but it is very useful in practical life also.) &  also solve practical questions of all 5 head and yes main point is read theory of salary, income from other sources, capital gain because these chapters are full of with theory provision.

·        There are some easy chapters which you should learn . that is clubbing of income, set off and carry forward. These chapters are easy to learn. And guys do not skip these chapters . I know these are small chapters but ICSI ask theory question ( range up to 4 to 7 marks) from these chapters in almost every attempt.

·        Now lets talk about those chapters which is loaded with procedural provision. For example deductions, self assessment of tax, appeal and revision . I suggest you guys please do these chapters. I know this chapters are full of with theory and procedural provision .  but in case examiner wants to set hard paper these chapters are useful.  So don’t skip it.

·        There are some chapters which are combined with theory as well as practicals.  A) advance payment of tax  B) TDS  C) AMT AND MAT ( do this chapter with full concentration because AMT and MAT chapters will be useful in CS professionals.  D) computation total income.

Some important points :

ü Selection of book. ( read from good reference book. Solve question from scanner.)  you can refer suchita prakashan scanner, Bangar, taxmann scanner is also better option. But main point is stick to the one material which is best suitable for you.

ü  As I said earlier start from the introduction chapter  then do income exempt from tax. After these two chapter you can start with the five heads of income. 

SEQUENCE OF FIVE HEAD.  

1)    Start with income from house property

2)    Income from salaries.

3)    Profit & gain from business and profession AND capital gain ( guys very very imp chapter.( for this chapter you can refer video lectures on you tube. For those who are doing self study.) and prepare some short notes regarding these chapters which will help you in revision.

4)    Don’t skip income from other sources.

ü Make your own handwritten notes for IMP chapters. It will help you in last minute revision. You can either prepare them in paragraph forms or chart forms.

PREPARATION AS PER HEADS :

CAPITAL GAIN:

   The imp part of this chapter is exemption starting from section 54.the best way to remember the provision of these section along with the section number by preparing their tabular format.

·        Then cover definition of capital gain and main point is prepare your separate notes which are not considered transfer such as points covered in section 13

.

·        Then understand LTCG, STCG, cost of acquisition, and practice indexation.

·        There are plenty of amendments in the capital gain. Also refer amendments.

·        After finishing the chapter don’t just put your book aside. You have to revise this chapter on regular basis.

PGBP : 

 PGBP is lengthy but interesting topic.  You have to thoroughly read the chapter but still, there are some mistakes which most of the students commit while attempting the PGBP question.

·        Carefully read depreciation under section 32, section 32AD, section 32AC and revise the rate of depreciation for exams.

·        Similar to section 50C and there is a section 50CA in PGBP which deals with the sale of land by the builders or property developers. Read it twice and don’t get confused between section 50C and section 50CA.

·        Carefully read section 43B ( deduction on actual payment basis)

·        Sometimes, the employer pays the tax on NON-MONETARY perquisites which are given to the employees, these are not allowed as deduction to employer.

·        TDS is required to be deducted only when assessee was required to get his books of accounts audited in the previous year.

IN NEXT post I am going to discuss with you  how to prepare indirect tax. stay tuned for more updates.

READ THESE POINTS CAREFULLY AS IT COVERS SOME GENRAL MISTAKES WHICH MOST OF STUDENTS COMMIT WHILE LEARNING THIS CHAPTER.

NOW LET’S TALK ABOUT FOR THOSE STUDENTS WHO CAN NOT ATTENDING FACE TO FACE CLASSES DUE TO VARIOUS REASONS.

IF YOU WANT TO STUDY TAX THROUGH VIDEO LECTURES , I CAN SUGGEST YOU TWO FACULTIES  WHICH IS THE BEST IN TAXATION SUBJECT.

1)    CMA VIPUL SHAH SIR’S TAX CLASSES.

2)    CA VIVEK GABA SIR ‘S TAX VIDEO CLASSES.

AVAILABLE  IN BOTH FORMAT : DOWNLOADABLE LINK OR  IN PENDRIVE MODE.

BOTH FACULTIES ARE THE BEST. AND  DON’T ASK WHICH ONE IS BETTER. THERE IS NO COMPARISON BETWEEN BEST.

I HOPE YOU LIKE THIS ARTICLE. AND IF YOU LIKE THIS ARTICLE THEN  PLEASE SHARE IT WITH YOUR FRIENDS. AND DO COMMENTS ON WHICH TOPIC YOU WANT THEORY NOTES , OR  ANY  GUIDANCE. WE WILL GIVE OUR BEST.

THANK YOU SO MUCH.

HAPPY LEARNING.

ALTERNATIVE INVESTMENT FUND.

HELLO GUYS. TODAY I AM PROVIDING YOU CHARTWISE EXPLANATION  OF ALTERNATIVE INVESTMENT FUND.

THIS CHAPTER IS NOT FALL INTO  A GRADE CATEGORIES   BUT STILL I SAID EARLIER WE SHOULD NOT SKIP ANY CHAPTER.

SOMETIME ICSI ASK  SOME QUESTIONS FROM THIS CHAPTER.
FOR EXAMPLE :  EXPLAIN DEFINITION OF AIF AND HIS CATEGORIES,  AND  SOMETIME THEY ASK  SMALL TOPICS FOR 3 MARKS  LIKE EXPLAIN ANGEL FUND, VENTURE CAPITAL INVESTOR, DEFINE INVESTIBLE FUND.

I SUGGEST YOU PLEASE LEARN ALL IMP TOPICS FROM AIF REGULATION.

TO DOWNLOAD ALTERNATIVE INVESTMENT FUND PDF  CLICK HERE.


 IF YOU LIKE MY POST PLEASE SHARE WITH YOU GROUPS AND FRIENDS. AND DO COMMENT ON  WHICH TOPIC YOU WANT NOTES, CHARTWISE EXPLANATION, OR ANY GUIDANCE.  

WE WILL DO OUR BEST.

THANKS.

HAPPY LEARNING.

HOW TO REMEMBER SECTIONS OF COMPANY LAW AND OTHER TOPICS .

Hello guys how are you. I hope you all are doing best. Today we are going to talk about HOW TO REMEMBER SECTION OF COMPANY LAW.  AS law student it is very important you must quote the section in your exams(That will make your flawless impression on examiner) and in your practice.

Every LAW students must remember all the section of company law, security law, civil procedure code, CRPC etc.

I bet you are thinking how can we remember all the section of all laws, we are humans not computer system.

Yes i know we all are human and yes we can remember all section laws with help of certain memory technique and chart wise explanation.

Let's get started. 

First of all make Notes of every chapter ( i am talking about summary points which will help you in last minute revision) 

Second point is make chart for Big topic (at the end i will attach few pdf which will show you how to draft proper chart so we can summarize big topic into chart form.)
CLICK HERE to see how could we convert big topic into chart form.

Third point  is memory technique. 

POINT TO BE NOTED : Memory technique method(differ from person to person). Make a proper sentences or phrase to remember the topic name. 

Let me give you an example.

IN CS PROFESSIONAL module 1.
subject name: Governance, Risk mangement, compliance and ethics.
topic name: CLASSIFICATION OF RISK .IN THAT THERE IS POINT OF UNSYSTEMATIC RISK.
IN A BOOK institute gave explanation regarding 5 features of unsystematic risk.
we will remember that 5 crux point with the help of memory technique.

C.  P . से  AAKASH ने  M.  I. का फ़ोन  लिया .

C      =  IT IS CONTROLLABLE IN NATURE.
P       =  IT IS PREDICTABLE.
A      = IT CAN BE ASSESSED WELL IN ADVANCE.
M     = IT IS MICRO IN NATURE.
I       =  IT AFFECTS THE INDIVIDUAL ORGANISATION.

YOU CAN MAKE YOUR OWN KEY WORDS FOR REMEMBERING PURPOSE.

NOW LET'S LEARN HOW TO REMEMBER SECTION.

IN CS EXECUTIVE module 1.
subject name : COMPANY LAW.
IN company law there is chapter called PROSPECTUS.
MEMORY TECHNIQUE:  M   S   DHONI को C.  V.  O. बनाकर  उसका  DEARNESS ALLOWANCE UPDATE KIYA .

SECTION 23 = Method of fund raising.
SECTION 24 = Sebi power.
SECTION 25 = Definition of deemed prospectus.
SECTION 26 = Content of prospectus.( REFER LATEST AMENDMENT)
SECTION 27 = Variation in content of prospectus.
SECTION 28 = Offer for sale.
SECTION 29 = Demat form.
SECTION 30 = Advertisment.

NOTE :  YOU CAN MAKE YOUR OWN MEMORY TECHNIQUES.BUT GUYS REMEMBER MAKE TECHNIQUES FOR IMPORTANT CHAPTER ONLY.  IT IS NOT POSSIBLE TO MAKE MEMORY TECHNIQUES FOR EVERY CHAPTER.

Forth point is you should do theory of additional topic. It will help in case paper setter wants to set hard paper. ( additional topic means that topic which is connected with IMP topic) 

Fifth point is most important that's Revision. Whenever you study any topic or any chapter revise that within 24 hours. 

Because The brain forgets half of things what we learn. 

And also do weekly revision and set daily targets for every subject or particular module. 

Do not skip any chapter. And make schedule for revision.

Every CS/CA/CMA students must do at least 4 times revision. Then you can catch up to 60 marks  and claim exemption. 

And i am not going to discuss about paper pattern stuffs we all know this is professional exams. A single mistake will extend our 6 months ( ca/cs/cma students can relate it) 

Yes one more point i would like to add also see past year question paper which will help you to understand the paper pattern.

And do writing practice. Yes, writing practice is must.

If you know the whole Answer and you can't draft it then it will be waste of time. 

So writing practice is must. For writing practice you can give test series. Nowadays many online platforms are available for test series. 

So students give your best efforts.

HAPPY LEARNING.

THANK YOU SO MUCH.

The gratuity act, 1972

To Get Handwritten notes of The payment of gratuity act, 1972. Click here

Constitution of india

To download Handwritten(summary) notes of CONSTITUTION OF INDIA  click on download 

COLLECTIVE INVESTMENT SCHEME

                                   COLLECTIVEINVESTMENT SCHEME

COLLECTIVE INVESTMENT SCHEME is an investment scheme, where several individuals come together to pool their money for investing in particular assest and sharing the return arising from the investment made.
A unit certificate issued under scheme should be transferable and must be listed.

• CIS refers to any scheme under which-
• The contribution are pooled and utilized for the purpose of scheme or arrangement.
• Investors investing into such scheme with view to receive profits, incomes, produce or property whether movable or immovable.
• The property, contribution, or investment forming a part of scheme, is manged on the behalf of investor.
• The investor do not have day to day control over the management of scheme.

• CIS DOES NOT INCLUDE FOLLOWINGS:
• Any scheme made or offered by Co-oprative society.
• A contract of insurance.
• Pension scheme or any insurance scheme.
• Deposit accepted by NIDHI COMPANY OR NBFC.
• Deposit accepted under section 74 of companies act 2013.
• Chit business.
• Mutual fund.

• CONDITION FOR SETTING UP A CIS:
1. Application for registration should be accompanied by non-refundable fee and send it to SEBI.
2. Applicant should be company and registered under co.act 2013.
3. Managing CIS is one of its main objective in MOA.
4. Net worth not less than 5cr. (REFER THE LATEST AMENDMENT)
5. The director or KMP have not been convicted for an offence which involve moral turpitude or economic offence or any violation of security law.
6. At least 50% of directors of such CIS should be an independent directors.

• RESTRICTIONS ON BUSINESS ACTIVITIES:
Colletive investment management company should not undertake following activities:
• Undertake any activity other than managing scheme.
• Act as trustee of any scheme.
• Launch any scheme for the purpose of investing into securities market.
• Investment in own scheme unless proper disclousure is given.

• TERMINATION OF TRUSTEESHIP:
• The trusteeship of trustee should come to an end-
1. If trustee ceases to be trustee under SEBI(DEBENTURE TRUSTEES)Regulation,1993; or
2. If trustee is in the course of being wound up; or
3. If unit holder holding at least Three-fourths of the nominal value of the unit capital of the scheme pass a resolution for removing the trustee and SEBI approves such resolution; or
4. If in the interest of the unit holder, SEBI, for reason in writing decides to remove the trustee for violation of act or regulation.
5. Trustee himself, giving notice not less than 3months expressing intention of not to continue as trustee.

• RIGHTS AND OBLIGATION OF TRUSTEE:
❖ The trustee should ensure that the CIMC has:
✓ The necessary office infrastructure.
✓ Appointed all key personnel including mangers for the schemes.
✓ Appointed auditors from list of auditors approved by SEBI.
✓ Appointed registrars to an issue and share transfer agent.
✓ Taken adequate insurance for the assests of the scheme.
✓ Minimum net worth on continuous basis.
✓ Prepare compliance manual.

• OBLIGATIONS OF CIMC
➢ Every CIMC should-
1. Be responsible for managing the funds or properties of CIS on behalf of the unit holder.
2. Take all responsible steps and exercise due diligence.
3. Appoint registrars and share transfer agent
4. Give receipts for all monies received and report of receipts and payments to SEBI.
5. Holding board meeting of directors to consider the affairs of CIS ,at least twice in every three months.
6. Obtain adequate insurance against the properties of the CIS.

➢ COLLECTIVE INVESTMENT SCHEME PROPERTY INCLUDES: Subscription of money or money’s net worth(including bank deposit) Or Property acquired,directly or indirectly Or Income arising, directly or indirectly from, subscription money.

NOTE : THIS NOTES ARE MADE ONLY FOR REVISION PURPOSE.
FOR MORE REVISION NOTES MAILED AT : jaydave096@gmail.com