CMA Inter Direct Taxation Important Questions, Topics, Chapters

| November 17, 2016 | 0 Comments

In previous post we have given CMA/CWA Inter and Final Time Table for December 2016 Examination and ICWAI Inter and Final Syllabus Applicable for December 2016. Today I’m giving CWA / CMA Inter Direct Tax Important topics, important questions and important Chapters for preparing December 2016 exams. Most of the CMA students asked me that “Sir, please tell me some important topics, chapters or questions of  ICWA Intermediate Direct Tax”. This article’s main intention is just suggesting some important topics, important chapters and important questions in CMA Inter Group 1 Direct Tax to get 40 – 50 marks in CMA Intermediate Exams.

                                             CMA Inter Direct Taxation Important Topics & Chapters

CMA Inter Direct Tax Important Questions

DIRECT TAXATION

SECTION A: INCOME TAX [65 MARKS]

1. Income Tax Act, 1961

  • Basic Concepts and definitions
  • Residential Status and Incidence of Tax

2. Sec.10  CMA Inter Direct Tax Important Topics

3. Heads of Income and Computation of Total Income under various heads

  • Income from salaries
  • Capital gains
  • Income from other sources

4. Tax Planning and Tax Management

  • Concept and application
  • For setting up new business units
  • Tax incentives and Export Promotion Schemes,  exemptions
  • Computation of income and Return of Income Tax, Filing procedure, e-filing
  • Penalties, Fines and Prosecution

ALSO SEE :

SECTION B: WEALTH TAX [10 MARKS]

Wealth Tax Act, 1957

  • concept and charge of wealth tax
  • exempted assets
  • Valuation of assets
  • Return of Wealth Tax and assessment procedure

SECTION C – INTERNATIONAL TAXATION [25 MARKS]

  • Residency issues, source of income
  • double taxation avoidance agreements
  • Reference to Cost Accounting Records and Cost Audit Reports.
  • General Anti-Avoidance Rules (GAAR) – concept and application
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Category: CMA, CMA Inter, May / June 2015

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