Friday, February 6, 2009

CA Final - Inputs for exams - Paper 7 - Direct Taxes

Hi Frenz,

I'm just putting down the points that i followed for the CA - Final exams. The books / points referred in the note below need not necesarily be followed. You can always follow other books/ points.

Paper 7 – Direct Taxes

1. (Gurukripa - Padhuka Publications – Authored Sekar) / Manoharan / Singhania is sufficient

2. If you have attended classes than first read class notes and then read the reference material

3. Read the provisions deeply because the questions will be very tricky.

4. Time will be a constraint. You can spend at the max half an hour for each question. Always try to attend 100 marks but don't lose heart if you are not able to attend 100 marks. Attending anything between 90 to 100 marks is really good.

5. Just 2 months before the exams Mr. Sekar /TG Suresh will discuss the important topics for the relevant attempt. At least 50% of the questions in exams are from his important questions. So check out with people who have completed the latest batch of his classes.

6. When you go through the above authored material you will find many similar problems in a topic, while doing your first reading cut out the similar problems so that before exams you have the least problems for preparing.

7. The pattern of the question paper is as follows:

a. You have to attend all the questions (There is no choice)

8. Please go through the RTP prescribed for your attempt, atleast 10 marks comes from RTP

9. Please read recent amendments & get the amendments book from the Institute relevant to your attempt. Atleast 20 marks will come amendments

10. Please get the select case laws book from the institute relevant for your attempt. Atleast 10 marks will come from the select case laws.

11. Keep practising the problems during your preparations. It will give you momentum and will let you know which problem will take how much time in exams

12. Wealth Tax – Sure 10 marks.

13. Assessment Procedure / Appeals / Refunds / Penalties – 10 marks sure

14. 10 -15 marks problem surely (Anyone from the following topics)

a. Sec 115 JB
b. Partnership
c. Computation of Taxable Business Income
d. Computation for Individual / Salary

Further Suggestions / Inputs / Comments are invited.
Thank You.