CA Final Direct Tax Self-Study Strategy|Chaperwise Analysis| Right approach|No Classes |Nov 24

Summary

The speaker discusses their experience with the CA Final Group exam, scoring 59 marks. They recommend focusing on concepts over practical questions, using revision videos and Atul Sarthak's notes. They suggest watching faculty videos for specific topics and emphasize the importance of understanding concepts over memorizing. The speaker also shares their strategy for studying chapters like Transfer Pricing and Taxation, using memory techniques for rates and suggesting resources like Yash Sar's videos for remembering TCS rates. They advise a simple approach to studying topics like PGBP and case laws, emphasizing understanding over rote learning.

Takeaways

• 📚 The speaker has passed the May 2024 CA Final Group exam and scored 59 marks.
• 📈 They have made a compilation of resources and materials they followed and are sharing them for others to benefit.
• 🔍 The speaker emphasizes starting with the materials and focusing on concepts rather than practical questions.
• 📝 They recommend watching faculty revision videos and reading the compact book by B.S.R. for a comprehensive understanding.
• 🎯 For specific topics, the speaker suggests focusing on certain faculty videos for better clarity.
• 📊 The speaker advises that for the 'Transfer Pricing' chapter, one can expect a minimum of six marks from the chapter.
• 📖 They mention that if one has read the book thoroughly, they can skip the first step and directly refer to the 'One Sir' cardiology.
• 💡 The speaker shares their own memory tricks for the 'Indirect Taxes' chapter and provides a link to their tricks.
• 📉 For 'Equity', they recommend only Shyam Vayas Sir's video lectures and not to worry about the totality of the lectures.
• 📋 The speaker provides a detailed study plan for 'Indirect Taxes', emphasizing the importance of understanding the concepts and solving questions.
• 📈 They suggest creating an adjustment sheet for 'PgTp' and thoroughly understanding each adjustment.
• 📉 For 'Taxation of Various Activities', the speaker recommends reading the case laws daily and remembering the case names and the material inside.
• 📝 The speaker shares their approach to studying 'Capital Gains', dividing the chapter into concepts and solving questions after understanding each concept.
• 📑 They mention that for 'Capital Gains', they only read Atul Sir's notes and watched two or three of Echi Sir's revision videos.

Q & A

What is the speaker's overall strategy for preparing for the exam?

The speaker suggests focusing on understanding concepts rather than just practical questions, watching revision videos, and using resources like Atul Sir's concise notes and BV Sir's compact book for specific topics.

Why is it important to watch the revision videos by the professors mentioned in the script?

The revision videos are crucial as they provide detailed explanations of the entire chapter and help in understanding the concepts deeply, which is beneficial for both concept-based and practical questions in the exam.

What is the significance of focusing on concepts in the exam preparation according to the speaker?

Focusing on concepts is significant because the exam now includes more concept-based questions rather than just practical ones, which requires a deeper understanding of the subject matter.

What is the speaker's advice for studying the 'Transfer Pricing' chapter?

The speaker advises watching the revision videos for 'Transfer Pricing' and then solving questions directly without needing to refer to the mechanical approach, as the concepts will be clear after watching the videos.

Why is it recommended to read Atul Sir's concise notes for the 'Taxation' chapter?

Atul Sir's concise notes are recommended because they provide a detailed summary of the entire chapter in a compact form, which is helpful for quick revision and understanding of the chapter.

What is the strategy for studying 'Equity and Corporate Finance' according to the speaker?

The speaker suggests watching the revision videos by specific professors, focusing on understanding the concepts, and then solving questions to ensure a clear understanding of the topics.

What is the significance of creating one's own memory tricks for the 'Taxation' chapter?

Creating memory tricks is significant because it helps in memorizing rates and other important details that are essential for the exam, making the revision process more efficient.

Why is it important to divide the 'Capital Gains' chapter into parts while studying?

Dividing the 'Capital Gains' chapter into parts is important to avoid confusion and to ensure a better understanding of each concept separately before combining them for a comprehensive understanding.

What is the speaker's approach to studying 'Taxation of Various Activities'?

The speaker recommends studying 'Taxation of Various Activities' by focusing on the adjustment sheet, understanding each adjustment thoroughly, and practicing question-solving without relying on notes.

What is the reason behind focusing on the descriptive part of the exam according to the speaker?

The speaker emphasizes the descriptive part because it carries significant marks and should not be neglected, as it includes questions that are important for scoring well in the exam.

What is the strategy for handling the 'Case Laws' section of the exam as per the speaker?

The strategy for 'Case Laws' is to read each case law on a daily basis, understand the matter inside without needing to memorize it, and focus on remembering the names and the material within for easy recollection during the exam.