9 tips to score an exemption in the CA Inter Tax exam

What techniques and strategies are required to ace the CA Inter tax exam? What topics need to be covered and what to be left out?

In CA Inter tax subject is divided into two sections. The first one is Direct Tax and the other one is Indirect Tax. Most of the questions that come in the Tax exam are not direct rather conceptual and require understanding. So, mugging up is of no use. There is a linkage between the topics of tax exam.

A list of all the tips to score an exemption CA IPCC Tax exam is provided below

#1 Don’t lose hope at first

Tax subject is new for students and most of the students lose hope that they are not able to comprehend anything. However, one must stay focused and learn consistently, things will get cleared automatically.

#2 Try to cover the whole of the syllabus

Why it is necessary to cover all the topics in the tax exam. I have already told you that all the topics are connected to each other. For instance: When you need to calculate the tax liability of a person, you need to possess an understanding of Salary, House Property, Capital Gain, PGBP, and TDS.

The syllabus is too vast in tax and it is difficult to revise it in one day. So, preparation of notes is beneficial and can enhance the revision speed.

#3 Institute study material/Practice Manual

 If you have read my tips which I have shared on other subjects like Law, ITSM, Audit, Accounts then you must have understood the value of Institute material. Revise as many questions as you can from the Practice manual.

One must stay updated with all the recent amendments that are applicable for tax exams. These amendments are available on the Institute website.

#4 Multiple revisions

The topics in the tax exams need to be revised multiple exams. The subject is new for the students and requires multiple revisions to gain deeper insights into the topics. There are many revisionary videos available of Mr. Neeraj Arora on YouTube.

#5 Why focus only on PGBP?

Before the exam, many students waste their valuable time over PGBP. Profit and Gains of Business & Profession is a massive topic and requires time. So, students should first focus on topics like Salary, Capital Gain, and House property. The remaining time should be given to PGBP.

#6 TDS/Advance Tax/Returns

About 8-12 marks questions come from these small topics. Students must allocate time as per the exam pattern and size of topics.

#7 Practical questions

The tax question paper consists of practical new questions and students lose their patience after looking at the new unread questions. This is the biggest mistake done by the students. If you have conceptual knowledge, those questions only test your concepts.

Taxation is an ever-changing subject and core practice field of Chartered Accountants. You have to face daily new challenges in taxation subjects that are the reason ICAI tests your practical knowledge.

#8 Making notes

Preparing notes in taxation subjects helps a lot. These handwritten notes enhance the revision speed and help to cover the entire syllabus. Students should highlight the keywords and other important details at the time of first readings only.

#9 Indirect tax (GST)

GST is composed of earlier tax regimes like Service tax, VAT, CENVAT, Excise duty. Don’t ever think that the government has launched a new tax called GST, rather combined previous tax regimes.

The questions asked in the Indirect tax section are mostly from Institute material and are quite easy. Therefore, Students must focus upon the scoring area that is GST.

Did you find great strategies listed in the above article? You can refer to our other related articles.

7 tips to score an exemption in CA IPCC ITSM

8 top tips to score an exemption in CA-IPCC Audit

7 tips to score an exemption in CA IPCC accounts

Top tips to score an exemption in the CA Inter Law exam