Study Tips For Direct Tax in CA Final – May 2015 Exam

Study Tips For Direct Tax in CA Final – May 2015 Exam is now available at www.cakart.in

How to prepare for  Direct Taxes?

Solution : A tax that is paid directly by an individual or organization to the imposing entity. A taxpayer pays a direct tax to a government for different purposes, including real property tax, personal property tax, income tax or taxes on assets. Direct taxes are different from indirect taxes, where the tax is levied on one entity, such as a seller, and paid by another, such a sales tax paid by the buyer in a retail setting.

one should use  following  tools in obtaining skill  to appear this paper for scoring good  marks:

1) Bare Act
2) Complier /Suggested Answers issued by the Board of
3) Other publications issued by Board of Studies like RTP, Amendments & Case

What should a read for  direct taxes subject one day before examination?

Solution  : You may read following Points for better understanding:
a) Board of Studies publication on Case Laws on Direct Taxes.
b) Amendments booklet issued by Board of Studies with practical examples
c) Revisionary Test Paper published by Board of Studies for relevant d) Author’s notes issued on the subject. Apart from above if time permits you may read the text book for important topics like PGBP, Non-Resident, Transfer Pricing, Capital Gains etc.

Are there some must to do topics to be covered or can one do selective study in direct taxes?

Solution : This paper is very comprehensive and needs practical methods to solve queries. A common sense approach added with knowledge of law can give you the key to attend the paper at your best. Remember as compared to other papers in direct taxes the queries never repeat, thus every time you will find some new queries in the exam. Therefore your approach to such kind of paper can’t be based on just reading the suggested answers rather author suggests that you should follow flow-chart & tabular approach to revise the provisions for your reference. Remember before attempting a query please read it carefully, think which is the right section to be connected to the answer and then be straight and precise in writing the answer.

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