Query regarding chapter 3 income tax (section 10)

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David

IPCC

76 Points Posted on 02 September 2011

Hey...

I'm preparing for the coming November 2011 IPCC exams.

Not going for coaching or anything, doing it through self-study (ICAI material). Just started preparing for it, hope I'm able to finish it in time...

Anyway, to the point, I was studying Chapter 3 of Income Tax which is Section 10 (Incomes which do not form part of total Income)... There were a lot of stuff to remember and not all the parts had illustrations. And, looking at the different forums and notes available on the net, this chapter isn't discussed much. So, I was just wondering how important is this chapter?! Should I concentrate a lot on this chapter and is it necessary to by-heart each and every point and limit for exemption? Or, just a few important ones...?

Thanks in advance... :)

Take care.

Replies (3)

SANYAM ARORA

“It's hard to beat a person who never gi

10735 Points Posted on 02 September 2011

Bro to be very frank this chapter is very important. I can understand your position.

what you can do is go through all the chapters first and at the end what you will notice is your 90% of chapter 3 will already be done.

As most of the concepts in it are already discussed in all the chapters.

All the best and make cci proud.

Sanyam Arora

* Krishna *

CA Student

4556 Points Posted on 03 September 2011

No need to study the whole chapter in depth. But do one reading of all sections. And briefly remember the concept of the section and its applicability in the problems. Mostly, theory question may not come from that chapter, but those sections will be useful in practical problems. One short question may come.