Hope all are busy in revisions and few of you have just started preparing for exams. Okay, now let discuss the title I have given for this article.
How, are you preparing your INCOME TAX paper? Have you read institute's income tax module also? Its not surprising if most of answer come in a "BIG NO".
Most of students read Sighania's Tax Book (undoubtly a best book given each and every point in detail), its very good book for a detail practice and prepartion but on other side simply ignores institute's module. Now, how is it important for us,
(1) They have given point wise rules and sections only and examples are given only at those places where it is necessary whereas in Singhania's book a even a simple definition contains 2 to 3 example (sometimes I feel they have given bulk of examples which are unnecessary)
(2) Better presentation then other subjects modules and again it has better presentation then any private authors' book.
(3) The students who have just started preparation can prepare their income tax subject through MODULE+RTP+SUGGESTED ANSWERS of previous exams + Recent amendments booklet issued by ICAI. And the same thing is applicable for the students who have already done any other private authors' book once in detail.
(4) Now, most important point is if you analyze the papers of Income Tax, you will find the paper comes out from the Institutes module and from their other publications only.
Here, specially I want to mention a portion of syllabus "VAT" which contains 25 marks. And it will prove very easy for you if you prepare it from MODULE. How?
(1) Again the same point i.e. Module contains better presentation than any other private book and questions asked only from module and other supportive publications of institute.
(2) Even practical sums asked in previous papers are in same format examples given in Module.
(3) You can prepare this portion within 2 days if you are preparing first time even. And its better if you prepares VAT first if you just have started preparation.
Though, there are no practical sums given for SERVICE TAX portion but you can prepare those from previous papers and from RTP and from other sources. In Novmber-2011, the sums asked in ST were the mix of May-2011 paper and RTP (Not suggesting to replace the hard work and practice).
So, in short do detail practice as much as you want from any book but don't ignore institute publications as they are the base of question paper.
The above details are based on my personal experience and analyses.
Criticisms and appreciations are welcome.