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The institute of Chartered Accountants of India, has revised the study material for Paper 7: Direct tax law and Paper 8: Indirect tax law. The new study material is very different than any other study material issued by ICAI.

There is no distinction between study material and practice manual like earlier. The ICAI has only issued 4 modules for each subject. These modules are same for old and new course for CA Final with some exclusions for students appearing in old course examination in Paper 7: Direct tax laws.

The basic structure of each chapter in module is as follows (as given in ICAI's Modules):-

Components of each chapter

About the component

Learning Outcomes

Learning outcomes which you need to demonstrate after learning each topic have been detailed in the first page of each chapter. Demonstrations of there learning outcomes would help you to achieve the desired level of technical competence


The concepts and provision of the relevant Act and statutes are explained in student friendly manner with the aid of examples/illustrations/flowcharts. Diagrams and flow charts would help student to understand and retain the concepts and provisions learnt in a better manner. Examples and illustrations would help students to understand the application of concepts and provisions.

Test Your Knowledge (Exercise Questions with Answers)

This is what has replaced the practice manual issued by ICAI in earlier SM’s. The exercise questions and answers would help you to analyse the provisions of the Act and apply the same in problem solving, thus, sharpening student’s applications skills. In effect, these questions would test your ability to analyse and apply concepts and provisions learnt in solving problems and addressing issues.

Significant Select Cases

This is what has replaced the case law book issued by ICAI. The recent significant select supreme court and high court rulings have been reported at the end of each chapter to help you appreciate the interpretation of the provision of the tax laws by the courts

Benefits of the new formats

  1. ICAI has tried to compile its various publications such as Study materials, Practice manuals, latest pronouncements, Case law books etc, into one single set of books for ease of the student.
  2. The content part of each chapter is highly interactive with ample use of flow charts examples and tables as and when required
  3. It will bring and ease to student as the Study material text as well as the Practice manual questions and case laws are all present in one single book.
  4. It will lead in better understanding of the subject matter


Being a student myself I feel that following issues may arise with the new format

  1. New modules issued by ICAI will require a small effort on the part of the existing students to get adjusted to the new formats.
  2. Question present in exercise part of the chapter does not have full answers like we use to have in old Practice manuals, it rather has only hints or reference to the para in the content, that will not be sufficient for the students.

These new modules issued by ICAI clearly upholds its policy of self-study rather than being dependent on external teachers for examinations. On many instances the ICAI has shown greater emphasis on self-study by the students and new modules will help students to achieve that goal.


Published by

Manu Gawri
(CA-Final )
Category Students   Report

24 Likes   7 Shares   48348 Views


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