The Board of Studies (BoS) of the Institute of Chartered Accountant of India (ICAI) has now assigned weightage of marks to various sections of a subject. This facility would help students to plan their studies in a structured manner for the coming ICAI examinations.
Accordingly, each subject has been divided into various topics and topics have been grouped into sections and weightage range has been assigned to these sections. The question paper would take into consideration the weightage range assigned to different sections.
Following are the detail section wise weightage of marks assigned to the Paper-7 Direct Tax Laws and International Taxation of CA Final course examination to be held in May 2018 under New Scheme of Education and Training.
Section wise Weightage of Marks for Paper 7
Final Course Paper 7: Direct Tax Laws and International Taxation (100 Marks)
Part I: Direct Tax Laws (70 Marks)
Section I (21 Marks to 32 Marks)
- Basis of charge, residential status, income which do not form part of total income, heads of income, income of other persons included in assessee’s total income, aggregation of income, set-off and carry forward of losses, deductions from gross total income, rebates and reliefs.
- Special provisions relating to companies and certain persons other than a company.
Including firms, LLPs, Trusts, AOPs, BOIs, Securitsation Trusts, Business Trusts, Investment Fund etc.
Section II (4 Marks to 7 Marks)
- Provisions relating to charitable and religious trust and institutions, political parties and electoral trusts
Section III (4 Marks to 7 Marks)
- Tax Planning, Tax Avoidance & Tax Evasion
Section IV (14 Marks to 18 Marks)
- Collection & Recovery of Tax, Refunds
Section V (11 Marks to 14 Marks)
- Income-tax Authorities, Procedure for assessment, Appeals and Revision
- Settlement of Tax Cases, Penalties, Offences & Prosecution
Section VI (4 Marks to 7 Marks)
- Liability in Special Cases
- Miscellaneous Provisions and Other Provisions
Part II: International Taxation (30 Marks)
Section I (15 Marks to 18 Marks)
- Taxation of international transactions and Non-resident taxation
(i) Provisions of the Income-tax Act, 1961, including –
(a) Specific provisions relating to Non-residents
(b) Double Taxation Relief
(c) Transfer Pricing & Other Anti-Avoidance Measures
(d) Advance Rulings
(ii) Equalisation levy
Section II (12 Marks to 15 Marks)
- Overview of Model Tax Conventions – OECD & UN
- Application and interpretation of Tax Treaties
- Fundamentals of Base Erosion and Profit Shifting