www.caspot.com brings you the exclusive post of Preparation And Suggestions For CA Final Direct Tax
This
is my simple effort to bring some of the useful exam tips to score good
mark with Income tax IPCC Level and Direct tax for Final Level).
This is my humble effort to those who are writing IPCC and final exam
to give some good input in to Taxation subject. This is mainly target to
those who had failed frequently in the above segment and those who have
poor exam result despite of their hard work. There are two parts this
article contains. First is the preparation part (Before and after) and
second is the exam point of view. Even if it is lengthy, but useful.
Before start preparation
1. Mental preparation: - Direct taxes at final level are characterized by 1)Lengthy (2) Practical oriented (3) Difficult .If you have planed mentally to handle the subject then half of the battle you won.
For
IPCC segment, the question paper is lengthy and practical and requires
more time because it is a Combination of 2 segments (Direct tax, And Indirect Tax).
During preparation
1. Good and effective preparation for taxation exam
One must understand the concepts behind the taxation law and its applications. One question of final level (DT) may have applications in the various segments. Crystal clarity with respect of concepts should be warranted.
Check
the case laws which may contradictory with the sections along with the
conceptual learning. Also, the recent amendment applicable for your
exam.
IPCC
level, there is not much more complexity, however, application oriented
questions will also set in your exam. You are advised to carry out
balanced studies (Income tax, VAT and Service tax)
Read>> Understand the concepts behind legality>>Make a good notes of those concepts>> Revise
SEE FULL CA COURSE TIPS AND SUGGESTIONS :::
- FOR FINANCIAL REPORTING : http://goo.gl/4fcDpE
- FOR SFM : http://goo.gl/X2AwGE
- FOR ADVANCED AUDITING : http://goo.gl/6Ug9Ex
- FOR LAW : http://goo.gl/Xp2tcv
- FOR AMA : http://goo.gl/E708AU
- FOR ISCA : http://goo.gl/f2tdsU
- FOR DIRECT TAX : http://goo.gl/WosGwp
- FOR INDIRECT TAX : http://goo.gl/z1MU2V
The effectiveness of taxation depends upon effective Revision plan. For
clearing and scoring good mark, you should be perfect in taxation laws
with crystal clear with concepts. This can be achieved through constant
and good revision strategies only.
Example
What you have learned in Sunday must be revised on Wednesday and so on and so forth.
3. Keep a work book
4. Reference book and scanners and suggested answers in tandem.
Start with reference book and then comes to the past exam question. Understand the practical and application oriented past exam question pattern. This will improve your potential to the exam
5. For final students, Apart from direct taxation, give a good care to Wealth tax segment. Be thorough with Wealth tax concepts and do good exercise with Practical problems. This will help you to score marks.
6. For IPCC student, give equal importance to 3 areas. ( Income tax, VAT and service tax)
7. As
far as Indirect tax For IPCC is concerned, more marks are set from the
least segment. It is easy to study this least segment and can score a
good mark.
8. You have to solve all the practical compulsory questions of past few exam.
9. Learn well all the recent amendment and case laws Applicable for your exam. Few questions can be set from these segment to test your updating with tax laws.(Very Important)
10. Never add anything new during the last 15 days before exam, rather focusing on what already learned.
During exam
1. Direct tax question paper is characterised by lengthy, practical and require a good time to
read it. Even if the question is difficult, never be panic rather,
regain your confidence level. For I P C C students also the paper may be
practical oriented nature. Be cool and calm
2. When you receive the question papers do the followings
As and when receiving the question papers highlight the important Facts and figures as well. This will help you to extract the relevant points from the lengthy questions and thus save your precious time.
Adopt a good time management strategies. Allocate a maximum time for all the questions. Try to finish it within the time.
Good presentation for your exam
a) In
taxation papers, one question may be having applications in more than
various segments. Correlate the same in one by one in a comprehensive
and cohesive manner. (Inter Linking technique).
b) Try to avoid easy type presentation for direct taxation and Income tax. It is better to write precise points with good heading and sub heading. This will help to get bird eye view to the examiner.
d) If
you are going to correlate the section with cases laws, Start fact of
the case law and next verdict by the court and finally your conclusion
with the case at disposal.
e) For
all the problem paper (Compulsory segment) the steps carries each
marks. So, the figures should be supported by the legality as far as
possible. The legal things which form part and parcel of your working
should be given in the form of working notes.
Classification of exam time
Classify
your total time in to two based on the hardness of your questions.
First half can be called normal time and second half is called a
strategic time. (In cricket you can compare it with power play).
Start
with easy questions (practical) and theory questions first (Normal
time) and leave the toughest questions to Strategic time.
e) Attending Full questions without fail
Try to attend the question that you may be even not know well or not prepared.100% attending all the questions.
Never compare the answer of your friends.
Also don’t forget to refer this also
Wish you all the best
Happy exam Preparation!
Credits : CA Vivek M
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