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Ca final direct tax may 2016

13 May 2016

Tomorrow is paper. my revision is going slow. i have done chapters before but have not touched case laws. should i do it now? if i complete till 9pm revising? ..wealth tax is not applicable now too right?

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13 Replies

AakashKapadia (Chartered Accountant ) (123 Points)
Replied 13 May 2016

Cover PGBP, Cap gains,Trusts, DTAA, REIT's !

and Procedures like assessment , appeals & revision, penalties and TDS !

This portion will cover major part of amendments too!

As regards case laws,there are few imp cases in PGBP+ Procedures part !

and don't forget to read the Addendum to RTP wherein the two judgements have been reversed and are very relevant for tomorrow's paper

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AakashKapadia (Chartered Accountant ) (123 Points)
Replied 13 May 2016

Case laws can fetch upto 20-25 marks in the whole paper so yeah they are important !

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A D - Loving Life (none) (1234 Points)
Replied 13 May 2016

Thank you sir...sir should we remember case names too?

pooja pathak (article) (49 Points)
Replied 13 May 2016

Nidhiii (Audit) (642 Points)
Replied 13 May 2016

Pls give some tips.. I'm super scared !! Is charitable trust impt? I've read case laws but I can't remember the names..hope they give at least 2-3 marks for the correct answer without names.

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AakashKapadia (Chartered Accountant ) (123 Points)
Replied 13 May 2016

I've been through the same stage so I understand how it feels when DT is so much vast a subject .

But you always have to smart study in taxation subjects!

Charitable trusts are very important for academic exams as if you see past few papers, it carries weightage around 10 marks approx!

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AakashKapadia (Chartered Accountant ) (123 Points)
Replied 13 May 2016

As I said Just go through amendments in trust and past exams practical problems, especially ques asked in MAY'2015 exam. It's a quality question on trusts !

and if you can remember names of the cases, it's good but it is not mandatory to do so.

Marks depend upon the judgement you quote,how precise you cite the judgement and not the name of the assessee!

Nidhiii (Audit) (642 Points)
Replied 13 May 2016

Thanks a ton! Yes I read charitable properly last time but it didn't come.. Was very disappointed hehe!! I'll go thru whatever u said.. Jus finished business trust. Mat next. Thanks a ton :)

AakashKapadia (Chartered Accountant ) (123 Points)
Replied 13 May 2016

Anytime :-)

yes they didn't ask much in last exam, But you got to believe that ICAI's best and the most quality paper is always DT wherein the actual current affairs are reflected !

And trust , AMT and DTAA are the new favourite of ICAI.

Guys do focus on Sec. 32AD along with other relevant amendments!

srikanth (student) (94 Points)
Replied 13 May 2016

Predictions tomorrow Deductions due to heavy amendments sure shot 8 marks Pgbp expect a 32 ac 32ad additional depreciation 35% mix for 8 marks Reit /mat credit - 8 marks Pgbp - icds related to bad debts and subsidy . U will get Tds - core banking , recurring deposit , 194c 6 sure shot 4 marks Sec158aa sec 153 c erroneous order - 4 marks very famous amendments Last but not least hero of tomo paper will be length. Lets hope the best ....

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Nidhiii (Audit) (642 Points)
Replied 14 May 2016

Not many came from latest amendments!! I feel so bugged up cos I wasted much time reading all the latest stuff and not much came. Really disappointed: (