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Weightage of Marks for CA Intermediate Paper 4 Taxation

Section wise weightage of marks for CA Intermediate Paper 4 (Taxation) for Nov 2018 Exam under New Scheme of Education and Training.

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.

ICAI: Students of IIPCC, appearing in November 2018 examinations, may note that the new Study Material for Intermediate Paper 4: Taxation under the Revised Scheme of Education and Training is relevant for IPCC Paper 4: Taxation as well, with the exception.

Following are the detail section wise weightage of marks assigned to the Paper-4 Taxation of CA Intermediate course examination to be held in Nov 2018 under New Scheme of Education and Training.

Section wise Weightage of Marks for Paper 4

Intermediate Course Paper 4: Taxation (100 Marks)

Section A: Income-tax Law (60 Marks)

Section I (3 Marks to 6 Marks)

  1. Basic Concepts

(i) Income-tax law: An introduction

(ii) Important definitions in the Income-tax Act, 1961

(iii) Concept of previous year and assessment year

(iv) Basis of Charge and Rates of Tax

Section II (6 Marks to 9 Marks)

  1. Residential status and scope of total income

(i) Residential status

(ii) Scope of total income

Section III (15 Marks to 18 Marks)

  1. Incomes which do not form part of total income (other than charitable trusts and institutions, political parties and electoral trusts)

(i) Incomes not included in total income

(ii) Tax holiday for newly established units in Special Economic Zones

  1. Heads of income and the provisions governing computation of income under different heads

(i) Salaries

(ii) Income from house property

(iii) Profits and gains of business or profession

(iv) Capital gains

(v) Income from other sources

Section IV (9 Marks to 12 Marks)

  1. Income of other persons included in assessee’s total income

(i) Clubbing of income: An introduction

(ii) Transfer of income without transfer of assets

(iii) Income arising from revocable transfer of assets

(iv) Clubbing of income of income arising to spouse, minor child and son’s wife in certain cases

(v) Conversion of self-acquired property into property of HUF

  1. Aggregation of income; Set-off, or carry forward and set-off of losses

(i) Aggregation of income

(ii) Concept of set-off and carry forward and set-off of losses

(iii) Provisions governing set-off and carry forward and set-off of losses under different heads of income

(iv) Order of set-off of losses

  1. Deductions from gross total income

(i) General provisions

(ii) Deductions in respect of certain payments

(iii) Specific deductions in respect of certain income

(iv) Deductions in respect of other incomes

(v) Other deductions

Section V (12 Marks to 15 Marks)

  1. Computation of total income and tax liability of individuals

(i) Income to be considered while computing total income of individuals

(ii) Procedure for computation of total income and tax liability of individuals

Section VI (6 Marks to 9 Marks)

  1. Advance tax, tax deduction at source
    (i) Introduction(ii) Direct Payment(iii) Provisions concerning deduction of tax at source(iv) Advance payment of tax

    (v) Interest for defaults in payment of advance tax and deferment of advance tax

  2. Introduction to tax collection at source

(i) Tax collection at source – Basic concept

(ii) Tax deduction and collection account number

  1. Provisions for filing return of income and self-assessment

(i) Return of Income

(ii) Compulsory filing of return of income

(iii) Fee and Interest for default in furnishing return of income

(iv) Return of loss

(v) Provisions relating to belated return, revised return etc.

(vi) Permanent account number

(vii) Persons authorized to verify return of income

(viii) Self-assessment

Section B: Indirect Taxes (40 Marks)

Section I (12 Marks to 20 Marks)

2. (ii) Levy and collection of CGST and IGST

(a) Application of CGST/IGST law

(b) Concept of supply including composite and mixed supplies

(c) Charge of tax (including reverse charge)

(d) Exemption from tax

(e) Composition levy

2. (iv) Basic concepts of time and value of supply

2. (v) Input tax credit

Section II (8 Marks to 12 Marks)

2. (vi) Computation of GST liability

Section III (10 Marks to 16 Marks)

2. (vii) Registration

2. (viii) Tax invoice; Credit and Debit Notes; Electronic way bill

2. (ix) Returns

2. (x) Payment of tax

Section IV (0 Marks to 2 Marks)

1. (i) Concept of indirect taxes – Concept and features of indirect taxes; Principal indirect taxes

1. (ii) GST Laws: An introduction including Constitutional aspects

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