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Nov 11 - direct tax paper review *_*

Page no : 2

Jigar (Student) (661 Points)
Replied 15 November 2011

Same old paper pattern

expected case laws for arnd 20 marks it came

expected on amendments abt 15 marks it came

expected Chap12-A it came

may be life saver

 



CA Rachit Gupta (Chartered Accountant) (1315 Points)
Replied 15 November 2011

Your welcome Arvind...:)


Jigar (Student) (661 Points)
Replied 15 November 2011

or reverse of it

was total opposite of ISCA


Aditya Jain (Final (New) November 2011)   (763 Points)
Replied 15 November 2011

Originally posted by : Megha




Originally posted by : Ghanshyam Joshi





Frnds, don't ignore the RTP. wealth tax case law, q.7a, CBDT power to condone delay, dividend stripping adjustment, tds airline case law, saurashtra cement case for damages --- all these were from RTP.







RTP, practice manual, n institute case law book.. thats it.. most of the paper was from dis..
Institute material is enough..


 


If tats the case, then Can I actually try for Practice manual, RTP and Case Law for IDT . My group 2 was not well . So i have no other option than to try for exemption in IDT . But problem is Pracice manual is not full coverage . Very very selective . So its always a risk that areas not covered in Practice manual might be asked in the exam ! Cuz practice manual is mostly based on past exam questions !

     Will it be safe to target exemption by referring Practice manual and RTP ?


CA Rachit Gupta (Chartered Accountant) (1315 Points)
Replied 15 November 2011

Hi guys...i m uploading 50 important questions for IDT, specially for november 2011...

Thanks...


Attached File : 151976 868073 ca final nov 11 importance.doc downloaded: 392 times
3 Like



Vinay Krishnan (Chartered Accountant) (192 Points)
Replied 15 November 2011

DT Paper was conceptually Challenging....Very Decent paper for me....expecting to pass the second group now !! My Exams are OVER !! :-))


CA SANJAY GARG ( Chartered Accountant) (150 Points)
Replied 15 November 2011

great paper just 10 out of 10 to paper setter...........great thanks to Vinod Gupta Sir,.......I Can attemp complete 120 marks paper........Every line has meaning attached to it..............Paper was lenghty if we give proper workings..........


CA Ghanshyam Joshi (CA, Dip IFR (ACCA UK)) (3229 Points)
Replied 15 November 2011

NOW ITS TIME TO DO IDT!!! FORGET ABOUT DT PL CHECK MY POST FOR LATEST AMENDMENT AND CASE LAWS OF CA VISHAL BHATTAD SIR POSTED SOME DAYS BACK HOPE THAT WILL COVER 40 MARKS PAPER ALSO GO THRU RTP OF IDT

Aditya Jain (Final (New) November 2011)   (763 Points)
Replied 15 November 2011

I have a doubt relating to IDT ... Does Practice Manual consider all the latest amendments and new sections introduced . I am planning to study from Practice manual but i ve no other option than to get exemption . WOuld practice manual be sufficient for exemption . I checked Practice manual .. lot of areas in IDT uncovered . So can we just rely on it ? People are claiming tat entire DT paper today was from practice manual . But i dont think so its true . Cuz it hardly covers 50% .. specially Capital Gains and PGBP . So lots n lots of stuffs from outside Practice manual . Can we rely on IDT practice manual despite so limited coverage ?


MaNThaN Shah (Student) (315 Points)
Replied 15 November 2011

Q.1)Charitable trust wale sum ka starting "NET income" se hoga ya GROSS Receipt se?



MaNThaN Shah (Student) (315 Points)
Replied 15 November 2011

Q.2 i) intangible asset dep @ 25% so disallow 15 lakh. ii) payment to transporter allow iii) Rent charged in HP and municipal tax added in PGBP iv) 35(1)(iii)- 175% v) loss of p&m reduce block of asset vii) payment to contractor 90000 disallow viii) STCL 10000 additional 2(22)e - 50000

MaNThaN Shah (Student) (315 Points)
Replied 15 November 2011

Q.3 (A) BAD DEBT Not deductible, interest allowed, loss can be set of3, unab dep cant set off. And Not liable for Advance tax hence No 234(B)(C) liablity. . . .

MaNThaN Shah (Student) (315 Points)
Replied 15 November 2011

Q.3 (B) RESIDENTIAL PROPERTY- not taxable coz inadequete consideration Nd LAND -8 lacs chargeble under IFOS, 6 lacs Chargeble as LTCG

MaNThaN Shah (Student) (315 Points)
Replied 15 November 2011

Q.3(C) both amt chargeble u/s 9(2) Q.7(A) GTI-500000 and Deduction under 80CCD - 10% of GTI = (50000) hence TOTAL INCOME= 450000 Q.7(B) INTEREST = 480+360+420= 1260



MaNThaN Shah (Student) (315 Points)
Replied 15 November 2011

Q.6(A) during business hour A.O. has power to survey but can not take away books. Q.6(B) not entitled to c/f BUS.LOSS however eligible to c/f unab dep. .Q.6(C) sec.148 Cant invoked. And option available is sec-263 Q.6(D) both are incorrect.


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