Do you really intend to pass CA? Dr Paras Jain 8,000 odd hits and 60+ comments on my maiden article gave me a feeling of redemption and a little nostalgia of my own childhood. 35 years later I feel as It was only yesterday that I was taking on my CA. exams. Most of the points have been very diligently covered by Vivek, Dipti and Ankur. I am afraid I may not be as good as them. And I surely can’t write as well as them, yet I will speak my heart - no preaching – no sermonizing. It is High time you regain your confidence. Whatever may the President ICAI may have said, let me put my honour on stake that ICAI is not an island by itself and cannot be the sole paragon of standards and quality in a society which is by and large recognised as a corrupt society. Results cannot and will not remain bad for long .
Consider this, there are institutes at every street corner, offering MBA degree and all the MBAs are getting jobs. Sooner or later, the ICAI will have to realise that they are dealing with the best talent this country has produced and they cannot afford to squander such talent. In a competitive environment, they cannot just handover the accounting professions to other institutes- domestic and foreign. Therefore, please reassure yourself that you are going to pass. The tips I have given – I have used myself and , experimented with my near and dear. DO YOU REALLY NEED STUDY? Haven’t you all been thorough with your studies? Just review and refresh your memory and concentrate on the changes. I call it vertical reading. I HAVE PASSED MY CA EXAM by reading an Income tax Ready Reckoner.
Try this get a Nabhi or a small ready reckoner by Bhargava and see what confidence it gives you. Supplement it by the latest case laws – got to itatonline.org, download the case laws and just glance. Read a few articles on that site like his week there was one article by KC Singhal on 271(1)( c ). For memory – all provisions like gratuity / pension/LTA and so on list of relatives – for S 56 , for S 2(22) (e) and 40A (2). Bhrgava has given service tax in a tabular form. For refreshing go to dateyvs.com or use his book. When in doubt refer to the best author only. Within a week you will find that you were an expert in DIT two papers. From Scanners, last papers refer only for the key points. Forget what the doomsday prophets say. Assessment procedure – devote little more time . Suppose I put a question like this ABC Limited has been served with a demand notice of ` 200 million, half of which is not contested, due to recession, the Company has no money to pay and they have been advised that no appeal shall lie unless he undisputed taxes have been paid. What hall the company do? This is a quiz. Please try to answer. You can get a copy of the BCA Referencer published by Bombay Chartered Accountants Society or WIRC reference available at the WIRC website also. Just see for yourself what a miracle little study does. Transfer pricing, Alternative disputes DTAA, Accounting Standards , summarised Company Law and what not you will get in these publications and up to date. The authors have painstakingly brought out these publications. Mind you have to read only to refresh NOT STORE. The study this time must be supplementary like vitamin pills. Please note that I am neither canvassing any books, nor I take neither any tuition nor run any classes. And you are free to choose any authentic material you feel you are comfortable with. If you like this piece of advice useful, I will take up other subjects in the similar manner.
May God bless you all!!
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