How to study the Direct Tax CA final?
Direct Tax Laws and Indirect taxation is a vast subject in CA Final. It includes the full Income tax act along with International taxation covering 70 and 30 marks respectively. Therefore, preparing the right path and approach is extremely important for clearing this exam and off course CA Final.
Questions asked under this exam are more based on case studies. Hence, conceptual clarity is of utmost importance. Here, memorizing sections and clauses of taxes is also important. It is said that if you mention the right section number in your answer, there are more chances of getting higher marks for that question. On the other hand, if you mention the incorrect section number, even if your answer is right, you may not get the marks or get lesser marks for that question. It's not negative marking but its more of testing how you remember the clauses. It's better not to mention the relevant section rather than quoting the incorrect one and risking the entire marks.
Another aspect to prepare your self for this exam is to practice more and more case studies. It may seem time-consuming in the beginning but you will soon realize its importance as a case study often included the applicability of different clauses which may or may not be related and may also be contradictory. Here, the judgement of mind is required which is attained after you practice.
Linking of different scenarios in case studies/chapters also helps to memorize faster. Try doing that and you will see that you no longer need to cram the law.
There is a way direct tax law is written, try following that while you answer the questions. The flow should be clear, concise, and not confusing. No need to write essays in your answers.
Try attending coaching from best teachers such as Vinod Gupta. Studying taxes requires patience and guidance as well. Coaching classes can be explored to prepare yourself better. But as we all know; self-study is the most important aspect.
To be updated with amendments is very crucial. It is painful to study something and after preparation, the law changes or gets amended. But you need to keep yourself up to date with all the changes and amendments.