How was today's direct tax paper of ca final?

Page no : 4

Vikas Gupta (CHARTERED ACCOUNTANT) (16295 Points)
Replied 15 May 2012

I saw today paper...this is very easy paper..but qus kuch aise aaye the jo mostly hum routne study mai to karte hai but exam time short hone ke karan kuch unimportant topic skip kar dete hai..and nearly 20 marks tak ka exam waha se aaya tha..baki paper is very easy...but marks bahot mushkil se milte hai is paper mai...Best of luck friends



nagarajan (Accountant) (191 Points)
Replied 15 May 2012


Q.No.2 is mostly based on case studies. Not bad. ok.

nagarajan


Deepak Kumar Gupta (Finance & Accounts Consultant)   (86 Points)
Replied 15 May 2012

The paper was good today, one should get exemption from such a paper.


MaNThaN Shah (Student) (315 Points)
Replied 15 May 2012

Easy 2 pass but difficult 2 score..!!!

Farooq (-) (45 Points)
Replied 15 May 2012

Originally posted by : sarthak

scoring paper,mostly ammendment based,direct questions from case laws:)

 


I totally agree with him. iam suprised to see that not many have mentioned about case laws.

Following are the questions directly lifted from ICAI's "case laws relevant for may 2012"

question 2 - points 1 to 6

question 3c, 4b, 5a

question 5d is from recent notifications

Check it out guys. it will be useful for next attempt, if u r not confident of clearing this time.

Cant tell if ICAI will give more case laws in next attempt also, but we hav to be on safe side. They r few and easy to score, so why ignore them.

 




RAHUL B. (CHARTERED ACCOUNTANTS) (92 Points)
Replied 16 May 2012

PAPER WAS NOT MUCH TOUGH BUT THERE WERE MANY  QUESTIONS WHICH WE GENERALLY DONT EXPECT IN CA FINAL ...THEREBY MAKIN IT A BIT TOUGHER ,,,


Harsh (30 Points)
Replied 16 May 2012

Originally posted by : Deepak Kumar Gupta

The paper was good today, one should get exemption from such a paper.

 

Wish the world functioned on your opinions!!

All papers should get exemption if you prepare properly, but it doesn't work that way!!

being there and giving the exam and reading the paper and commenting is different


Kaushal Joshi (Cost Accountant & CA Final student)   (42 Points)
Replied 16 May 2012

Close to 35 marks was in form of amendments,circulars and case laws. The point is dt d case laws asked were carrying less weightage. Anyways few questions were directly from practice manual. So on a average a student can expect around 50-60 marks from RTP, amendments, circulars, case laws nd practice manual in every attempt.

CA. Amit G. Chandani (Entrepreneur/Consultant)   (1312 Points)
Replied 16 May 2012

Friends, Q1(a) was simple:

Calculation of Exepmtion u/s 10AA:

Profit of Unit X: 63

Add: Depreciation as charged: (9*180/300): 5.4

Less: Depreciation as per IT Rules*: (7.65*180/300): 4.59

Eligible Profit for Section 10AA: 63.81

Export Turnover of Unit X: 120-20: 100

Total Turnover of Unit X: 180

Exemption u/s 10AA: (63.81*100/180): 35.45

Calculation of Total Income:

Net Profit (63-35.45+36): 63.55

Add: Depreciation as charged: 9

Less: Depreciation as per IT Rules*: 7.65

Total Income: 64.90

(Basis of apportionment of depreciation to units according to sales is debatable).

*Actual Cost of machinery: (9/0.15): 60

Less: WDV Depreciation (assume deprecaition rate as IT Rules-15%) of 1st year: 9

Less: WDV Depreciation (assume deprecaition rate as IT Rules-15%) of 2nd year: 7.65

(Question was based on November 2003 question, All figures in Rs. Lacs)


CA. Amit G. Chandani (Entrepreneur/Consultant)   (1312 Points)
Replied 16 May 2012

Has anyone any caselaw about allowability of Secret Commission?

Will it be diallowed u/s37?




CA Sahil Singla.. (Service Tax ) (3746 Points)
Replied 16 May 2012

Originally posted by : Amit G. Chandani
Has anyone any caselaw about allowability of Secret Commission?
Will it be diallowed u/s37?

Decided by: ITAT, `F’ BENCH, MUMBAI, In The Case of : Kusum R. Ghuwalewala v. ACIT , Appeal No. : ITA No. 3408/Mum/2005, Decided on:February 12, 2009.


Abhinav (STUDENT) (22 Points)
Replied 16 May 2012

most of new cases from RTP had been asked...paper was easy for those who did amendments carefully


nicy (article) (25 Points)
Replied 16 May 2012

if in q1 depreciation jo deduct karna vo 1st year ka krdia instead of 2nd...koi chnc h kuch  marks milne ka



(Guest)

DT and IDT papr was very easy...among 8 papers these two papr are very easy....

then audit and law are in 2nd easy.

most hard and diffclt paper are acc and SFM.... its my personal experience and opinion,




sumit (accountant) (84 Points)
Replied 11 June 2012

Q2.was full of case law..regarding secret commission is allowable unless it is prohibited under any law...SFM was deadly..Advance mgt. Account was very lengthy and IDT was nerve racking 3-3 marks questions were pain in the neck..ISCA was easy 
 
Honestly speaking none of the papers were scoring subjects ..might end up deficit in aggrt. passing could be easy but getting exemption was very difficult...
 
this time result would be around 7.5 - 8 % only due to the reason lower placement in campus..only 9% feb-march-2012


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  




Subscribe to the latest topics :

Search Forum: