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How to Study CA-IPCE Taxation?

CA Arpita Tulsyan , Last updated: 14 February 2017  

1. Which Books/Material to refer?

My Suggestion would be:

a. Concentrate More on ICAI Material i.e. Module & Practice Manual

b. Go through the entire Supplementary Material & Revision Test Papers which are issued by the ICAI for respective attempt.

c. Solve at least, latest 2 Mock Papers of ICAI.

No doubt, many of you would have enrolled for the best coaching classes / lectures, but if we talk about the IPCE level, referring the ICAI Material is a must & more importantly it is sufficient too.

If you refer the above materials, there is no need to refer any other reference books available in the market!

2. How should we remember the Section Numbers & the clauses?

My Prima facie advice would be:

As soon as you start studying this subject, start making your own hand notes. On the Last day i.e. the day before exams, it is not possible to go through the entire Material.

And like we have experienced it from our childhood, once we ‘write’ something, we tend to remember it for a long period! Specifically for Section Numbers & heading of that particular Section, you can make a separate sheet (chapter wise), revise the same sheet once or twice in a week. Cumulative Revision would help you!

My dear Students, especially in Tax, don’t try to mug up the section numbers. Whatever you study, don’t just study from EXAM point of view, your ultimate goal should be to GAIN KNOWLEDGE!

“If you know something by ‘heart’, you’ve learned it so well you know it from memory, maybe even word for word”

3. How should we present our Answers?

In Taxation, there are 3 types of Questions, one is Theory, second is Full Practical (Sums) & the last category is True/False or Correct/Incorrect.

Theory Questions:

Try to Quote the Section Numbers wherever applicable.

If you don’t remember the number (due to exam blues or for any reason), you have always got a safety cover - “As per the Income Tax Provisions.”

But DONOT quote a wrong section number!
(If you don’t quote a number, you don’t lose marks, but if you quote a wrong one, Yes, you would lose marks)

Practical Question:

Maintain a proper format of Answers as there in the Practice Manual.
(For Example: Name of the Assessee, Previous Year, Assessment Year etc)

For combined Questions or for questions on GTI, give supporting notes for each & every adjustment.

As I firmly believe, in Taxation, there is a direct relationship between the Quantum of Relevant Notes written & the Marks Awarded in the Paper.

However at the same time, be cautious about the Time that you are allocating to each question while writing the Paper.

As an examiner, what I have observed is Students write everything else than what is asked in the Question.

Firstly, you have to answer the Statement that whether it is correct or incorrect. And then give the supporting answer. I have seen many students giving diplomatic answers saying, this statement can be partially true.

4. How do I get exemption in Taxation?

Dear students, my personal suggestion would be don't think of a Rank or Exemption while studying. All you have to do is - Just LOVE what you are studying & Do it ALL.

Few Tips:

  • Do not leave anything in Option.
  • Cover 100% Syllabus.
  • Make sure that you get sufficient time for Revision.
  • Write Full Paper covering 100 Marks in a fair manner
  • Highlight important points in Theory Answers.
  • Support your Practical Questions with Notes.
  • Avoiding Quoting Section Numbers if you are not sure.

Don’t try to predict the questions.

I have seen many students saying, this chapter was asked in the last attempt, so it won't be asked in the coming one! What? This is not a B.Com exam or something, where the trend can be roughly predicted!

5. Common Things that I would love to Share with you all:

a) Do not discuss the Paper after your exams. This is the biggest BLUNDER (I would say) that you are doing with yourself.
b) Rely on ICAI Materials strictly.
c) Don’t let your confidence go down at the last moment
d) If a particular paper doesn’t go well, do not let its effect come on the next one
e) Don’t try to Judge your paper, you can leave that to the Examiner!!

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CA Arpita Tulsyan
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