Revision Tips for Income tax exam - PCC

Hi friends,

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!