Income Tax Knowledge Practical Aspect

3167 views 4 replies

Dear All,

 

I m student of CA final but  firm I work is in Audits only> Till date I have nt seen any actual Income Tax form neither have any practical knowledge how I can learn practical aspects since a CA is synomnous with Tax even I dont know how to  fill return for my father.

This is major drawback I guess I have which will hamper evern in my career. Is there any site or books to learn?

 

Your help will be highly acknowledged.

 

 

Replies (4)

Hi Divya,

 

Books will give you theoritical aspects but not the practical aspects.

 

I am with my firm is in practice in taxation operating in Mumbai.

 

I can give you guidance required for any type of tax matter even relating to return filling and preparation of computation of Income.

 

In todays scenario it is not possible for a CA to go in all direction, but according to me he must specialise himself in 1 field but

Simultaneously he must have basic knowldge of other field atleast of tax.

Thanks & Regards

 

Hitesh

 

Download Return Preparation Software for AY 2010-11
 
Sl. No. Form Name Return Preparation Software Remarks Help System Requirements
1  ITR-1 Excel Utility(Version 1.0) New Release ITR-1 Help Manual MS Excel
2  ITR-2 Excel Utility(Version 1.0) New Release
MS Excel
3  ITR-3 Excel Utility(Version 1.0) New Release
MS Excel
4 ITR-4 Excel Utility (Version 1.0) New Release
MS Excel
5 ITR-5
Will be available shortly
MS Excel
6 ITR-6
Will be available shortly
MS Excel
 


 Download Income Tax Return Forms Notified for AY 2010-11
 
 
Sl. No. Form Name Instructions Form Descripttion
1 AY 2010-11 Income Tax Return ITR-1 Form Notification AY 2010-11 Income Tax Return Forms Notification under Rule 12
2 AY 2010-11 Income Tax Return Forms ITR-2 to ITR-7 Notification AY 2010-11 Income Tax Return Forms (ITR-2 to ITR-7) Notification under Rule 12
3 ITR-1
ITR-1 Instructions For Individuals having Income from Salary & Interest
4 ITR-2 ITR-2 Instructions For Individuals & HUFs not having Income Business or Professionfrom
5 ITR-3 ITR-3 Instructions For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship
6 ITR-4 ITR-4 Instructions For Individuals & HUFs having income from a proprietory business or profession
7 ITR-5 ITR-5 Instructions For firms, AOPs and BOIs
8 ITR-6 ITR-6 Instructions For Companies other than companies claiming exemption under section 11
9 ITR-7 ITR-7 Instructions

For persons including companies required to furnish return under section 139(4A) or section 139(4B) or section 13(4C)  or section 139(4D). (Not available for e-Filing)

10 Acknowledgement   Acknowledgement


dear divya don't worry theoritical knowledge is not so much different from practical knowledge.now the only thing remains is how to apply theoritical into practical life.u have to  create a strong commands over income tax.confidence is the only thing which help u in this situation.fill blank forms,read practice book of income tax act and rules.u can talk  ur principal  for income tax.make interest in income tax matters.i am sure they will definately give starting income tax matters to u.

this is my opinion share this problem with ur principal.

best of luck

regards

tarun rustagi

a famous line said by a great person-(a person can do planning if he has complete  knowledge of that matter) similarly if u want to get practical knowledge firstly u have to get complete theortical knowledge of income tax)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 June 2026
ACCOUNTANT

SANDEEP AASHISH & CO

Araria

B.Com

View Details
Company
06 July 2026
Chartered Accountant (Indirect Taxation)

Gowra Ventures Pvt Ltd

Hyderabad

CA

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
ARTICLESHIP 30 June 2026
Taxation Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details