CA Inter Direct Tax: Key Concepts and Preparation Tips
CA Inter Direct Tax is one of the subjects of the Chartered Accountancy Intermediate level exam conducted in India. This is a subject that includes principles, practices, and applications of income tax laws. Mastery over direct tax is very important for any student to become a successful Chartered Accountant. Core Topics in CA Inter Direct Tax CA inter accounts fast track classes have various sections that cater to core tax concepts- all of which are briefly stated below:- Basics of Income Tax: Students will be introduced to the Income Tax Act of 1961, where they find details regarding definitions, tax structure, and residential status. Income Heads and Computation: There are five main income heads under direct tax. They are Salaries, House Property, Business and Profession, Capital Gains, and Other Sources. Each of them has different principles; therefore, the students have to know how the income is categorized and computed for each of them. Deductions and Exemptions: This segment