Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

How to prepare ipcc income tax?

kishore (STUDENT(IPCC)) (867 Points)

07 February 2013

can any 1 pls tel how to prepare income tax for IPCC... I hav VK singhania book and latest book pof ipcc.. but I dnt know wer to strt how to strt? pls suggest me.. so that it will be use ful dor final and scoring the marks

Reply
Follow
Share

10 Replies

Mohit (CA) (755 Points)
Replied 07 February 2013

Hi Kishore... Trust me i did DT infact IPCC by Self-Study.. And for DT, i referred VKS.... Many ppl tell that DT is really tough but VKS makes it look that simple.... Start right from the first page. You should be able to complete it in 2 months provided you read 2 hours diligently everyday... DT , VKS does make it simple... and i got decent 56.. So i was quite happy with VKS's book....

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

kishore (STUDENT(IPCC)) (867 Points)
Replied 07 February 2013

tel me pls the chapters how to study n from wich chapter is simple?

Saurabh Maheshwari (B.com,ACA) (5923 Points)
Replied 07 February 2013

First complete

1.Residential Status

2.Income From HP

3.Income from Salaries

4.Income from Business & Prof

5.Income from Other sources

6.Income from Capital Gains

7.Set off /c/f of losses

8.Clubbing of Income

9. Deductions under Chapter VI-A

10.Exemption u/s 10 only selected and important

11. Income of Trusts

12. Return of Income\TDS/Advance tax

This way Incoem tax is over.... just take one easy and after that one lengthy chapter so as to maintain proper conceptual understanding and also proper pace.But revise regularly what you have learned because irregular revison may harm you a lot.

You can reach me at saurabhchokhra92 @ gmail.com for any queries reating to Income tax.

1 Like

kishore (STUDENT(IPCC)) (867 Points)
Replied 07 February 2013

thank u i sll sent u req sourab thnq very much

Ganeshbabu K (Audit and Tax Advisory) (48564 Points)
Replied 07 February 2013

First of all I am happy to express my heartiest congratulations those who achieved success in NOV2012 IPCC examinations and let me wish them all the best in their future activities. So my dear students who got negative result in NOV 2012 examinations do not loss hope and prepare for the MAY 2012 exams with fresh mind and determination .but one thing is famous personalities who failed many times before they tasted success.

Preparation tips for IPCC exams:

my dear students success it is the product of both intelligence and hard work. so for CA for exams both required (intelligence and hard work). number of students face problems for preparation i.e. how to start & from where to start and from which subject to start like this. Avoid such mistakes following are the steps observe:

Step 1: After completion of your coaching access remaining period for exams later on analyse yourself preparation for both groups or single group.

Step 2: Draw a scheduled for preparation.

Step 3: I would suggest to all theory part of the subjects better to read early morning time only.

Step 4: You have to be practice problematical papers like Accounts, costing & FM otherwise in examinations difficult to salve the problems.

Step 5: Before going to exams you have to be revision total syllabus 2 to 3 times.

Step 6: My dear students in law & income Taxation subjects don't code wrong section its results may be loss of marks. u have 100% confident on that u can code other wise write like, prescribed section.

Step 7: In examination presentation is very important that's reason u have to start every question in fresh page and code question number in middle of the page & Avoid striking and write legible this is helpful to get more marks.

Step 8: After finish your exam don't discuss with friends regarding that exam. left your question paper in examination hall and start your preparation for next exam.

Step 9: suppose in group I A/c paper u r not presented properly just ignore that and prepare for next exam. Maximum of students are doing is any one paper not presented properly he/she not concentrate remaining exams. My dear students don't do like that may be chance remaining papers u can get exemption. So think positive.

Step 10:Dear students after completion of your exams in case u have doubt any subject start your preparation immediately because after announcing of the result u have only 2.5 months only. For clearing CA exams may be take one or more attempt so don't get mentally stress.

Subject wise tips:

1. IT & SM: I would suggest to all SM preparation level is from last chapter to first chapter. And IT start with flowcharts & decision table later on network, inter net, DBMS finally start 1st chapter. From practice manual 40 to 45 marks paper will be from it so should be concentrate on that. Remaining part is definition part around 15 marks.

2. INCOME TAX: You have to read every concept in income tax paper & one more thing is total income problems important, and in every problem u have make note points its impress to valuationer.Put the currency symbol other wise u can loss marks. My sincere advice is don't start with total income problem in examination y because its take more time for completion. at the time of preparation first of all finish indirect tax(service tax & VAT) y because its less concept u can get nearly 50 marks.

3. AUDITING: In auditing company auditor chapter is very important in that chapter only around 15 to 25 marks. And standards also important for exams read 2 to 3 times. Last 2 to 3 attempts asked only direct question only so more concentrate on direct questions.

4. ACCOUNTS: In accounts I & II subjects very important is accounting standards its around 12 to 25 marks in each subjects. In examination presentation level is start with journal entries problem then ledger a/c after that final a/c problems. y because time management is very important in CA examinations.

5. COSTING & FM: In this subject first of all theory part u have to prepare its nearly 30 to 35 marks later on start practice problems in both costing & FM otherwise u cont salve the problems in examination.

6. LAW: in this subjects first of all prepare company law & other laws y because around 50 to 60 marks cover in these topics. Later on business communication etc.

IMPORTENT POINTS:

1. Time management is very important in examination.

2. Don't read every day night after 11:30

3. Sleep every day 6 to 7 hours.

4. Take food properly.

5. Very very important point is in all exams u have to be write point wise.

6. Don't refer 2 to 3 author books.

7. We would suggest that for the benefit of the students read the suggested answers carefully its useful to your examinations.

Before winding up i would wish to all the students who are appearing MAY 2013 exams.

Upgrade to CAclubindia Pro. Subscribe Now!

CA ASPIRANT (STUDENT) (380 Points)
Replied 07 February 2013

even i have doubt abt taxation . j gave my nov 12 attempt but dint clear but i have T. N. Manoharan book & there are so many changes for may13 exam how should i study taxation for the same ? .....pls help really confused....

CA.ViVeK M ACA (ACCOUNTS DEPARTMENT) (28544 Points)
Replied 07 February 2013

Dear Kishore Please find the following useful link for how to prepare income tax effectively

/articles/5-tenets-to-follow-for-the-direct-taxes-preparation-4369.asp

Varun (none) (379 Points)
Replied 07 February 2013

3 primary things mate-

1.Do one chapter at a time &

2.Refer any book,but stick to it...

All authors are good and all of them have equal followers!!!

3.Follow Saurab's order of study as mentioned above...its the uniersal approach...

CIAO

Urvashi Saini (Difference between Peak Performers & everyone else is what "everyone else" thinks) (1494 Points)
Replied 07 February 2013

Is anybody interested in solving my Query regarding Income tax..
At
/forum/little-doubt-tax-238210.asp#.URPcsR2Tx9g

CA Suryakant Dubey (CA ) (931 Points)
Replied 08 February 2013

Solve as much problems of compuataion from practice manual as well as from ur reference book u have....Do vat & service tax fully....U can take help of RTP's of previous years for service tax & vat problems...Do amendments...U can surely expect a One problem from the amendments....These Is Well enough for scoring above 65-70