Revision Tips for Income tax exam - PCC

Krishna (Article Assistant) (294 Points)

18 April 2011  

Hi friends, 

I am a final student and i completed my PCC just a few months ago. i secured 70 marks in my Income Tax paper of PCC and i wish to convey some simple tips to help my friends here . Since there are  13 days for the exam and revision  of all the subjects would be in progress i will suggest the following way where by revision of various essential areas .

  • Assuming that in the next 12 days  we allocate 2 days for each subjects and spend an earnest 12 hours on each day  we get 24 hours of effective time. Add another 15 hours for the day and a half  leave between the exams we get an aggregate of 39 hours. I will try to bring out how this time can be used  effectively.


  • To begin with , we must understand that Income tax is a paper which one can closely relate to everyone's every day articleship experience. Therby its a subject where familiarity is not such a big problem. The main problem is to convert our familiarity into a form of knowledge that will help us get really good marks.


  • This is not a difficult task , though i would never say its by any means easy. Believe this mantra!  A TASK IS AS DIFFICULT AS YOU PERCIEVE IT TO BE. If you have any idea that Income Tax is a subject that is going to be uncrackable no matter what , then change the idea NOW ! It is a paper where 60 marks can be obtained by working SMART more than working HARD. This can be done by these simple methods.


  • In these last days towards the exam try to clear your mind from all negative thoughts abt Tax. instead of stuffing you with more sums and theories try to concentrate on , " HOW I CAN SECURE  THE MAXIMUM MARKS WITH MY PREPARATION TILL NOW ".  That attitude will fetch you more marks than any ther RTPs or Scanners


  • A simple analysis will reveal you that 20 - 30 marks EVERYTIME comes from Recent Ammendments. Usually they are direct question and sometimes a simple problem. most of these form 2 - 4 marks questions each. so u get any where between 5 - 10 question. Now think about this! How many pages will the fresh ammendments be? we all know it wont be more than 20 - 40 pages at the MAXIMUM.. and it will just take a 2 -4 hours to read them.


  • Next come to the Indirect Tax part which consists of essentially  12 pages of VAT and 23 pages of  Serivice tax. So the maximum theory  pages totals to 40 . Even if u revise at a slow pace of  10 pages per per hour you can finish it in 4 hours. spend another couple of hours solving problems and another hour going through past exam question. So its pretty much 7 hours for Indirect Tax which will guarantee you full confidence of securing 20 out of 25


  • If you total the above two points we cover around 50 marks by spending just 9 -12 hours depending upon the speed of the person.


  • Small chapters like IOS , IHP , Clubbing of Income , Set on and Set off loses  and Charitable trusts which total to 60 - 80 pages MAX will come for any where between 10 - 20 marks . Let us assume for our convenience it is 12 marks. A good reading of this  can be done 3 - 4 hours .


  • Now go the big guns like Capital gains , Deductions under Chapter VI A , Salaries and PGBP. 2 hours each will aggregate to 8 hours and 2 hours for going through past 8 - 10 exam questions ( I personnally feel past  8-10 exam questions are more than sufficient )


  • The balance we have in hand are the theory part and Total Income problems and we have an AMPLE 12 - 15 hours to revise them. I feel these two are highly subjective more than any other areas and thrby dont want to elaborate on this two ares 


I want to conclude this post by conveying my BEST WISHES to  all the students writting this exam.


hope my tips will be use ful. thank you all!