Study Material for IIPCC Paper 4: Taxation for May 2018 & Nov 2018

Study Material applicable for IIPCC Paper 4: Taxation 

Students of IIPCC, appearing in May 2018 and 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 IIPCC Paper 4: Taxation as well, with the exception of the following topics in Section A: Income-tax Law discussed under the following headings –

– “8. Tax Collection at Source – Basic Concept [Section 206C]” in pages 9.60 to 9.65 in Chapter 9

– “19. Self-Assessment” in page 10.28 in Chapter 10

Consequently, the summary of the above two topics forming part of “Let us recapitulate” at the end of these chapters is also not relevant for IIPCC Paper 4: Taxation.

It may be noted that the content of Section A of the Study Material is based on the income-tax law as amended by the Finance Act, 2017. The relevant assessment year is A.Y.2018-19. The Study Guidelines, containing the list of topic-wise exclusions from the syllabus of New Intermediate Course Paper 4: Taxation, Section A: Income-tax law, given in pages ix – xix forming part of the initial pages of Module 1 of the Study Material, is applicable for IIPCC Paper 4: Taxation Section A Income-tax, also. In effect, the provisions/sections given in the Study Guidelines will be excluded from the syllabus of IIPCC Paper 4 Taxation, as well.

Section B: Indirect Taxes comprises of GST, the syllabus for which is the same in both old course and new course, and hence, the Study Material for new course is applicable for the old course.

Students may note that the marks allocation for Sections A & B is 50:50 in IIPCC Paper 4: Taxation and 60:40 in new Intermediate Paper 4: Taxation.