CMA Intermediate Direct and Indirect Taxation Classes
BrowseCMA Intermediate Business Laws and Ethics CMA Intermediate Financial Accounting CMA Intermediate Cost Accounting CMA Intermediate Operations Management and Strategic Management CMA Intermediate Corporate Accounting and Auditing CMA Intermediate Financial Management and Business Data Analytics CMA Intermediate Management Accounting All CMA Intermediate Classes
0 classes
No classes match your filters
Try removing a filter or searching something else.
What students say
Real reviews from CMA Intermediate Direct and Indirect Taxation aspirants on ClearLevel
CMA Intermediate Paper 7 — Direct and Indirect Taxation
Taxation is a 100-mark paper covering Direct Tax (~50 marks) and Indirect Tax/GST (~50 marks). For the December 2026 exam, Finance Act 2025 applies for Direct Tax. This is the most amendment-sensitive paper in CMA Intermediate — preparation from previous-year material without updating for the current Finance Act and latest GST amendments is a common cause of failure.
Direct Tax — Income Tax Act 1961
- Basic concepts — Residential status, previous year and assessment year, scope of total income
- Heads of Income:
- Salaries — Allowances, perquisites, standard deduction, provident fund rules
- House Property — Let-out and self-occupied, deemed let-out, interest deduction under Section 24(b)
- Business/Profession — Allowable and disallowable deductions (Sections 30–37), depreciation under IT Act, presumptive taxation (44AD, 44ADA, 44AE)
- Capital Gains — STCG and LTCG, post-Finance Act 2025 rates, exemptions (54, 54F, 54EC)
- Other Sources — Interest, dividends, family pension, gifts
- Deductions under Chapter VI-A — 80C through 80U complete landscape
- TDS provisions — Rates, thresholds, deposit timelines, Form 26AS, AIS (Annual Information Statement)
- Advance Tax — Computation, instalments (15 June, 15 Sept, 15 Dec, 15 March), interest on shortfall
- Assessment procedure — Self-assessment, scrutiny, reassessment overview
Indirect Tax — GST
- Constitutional framework — Article 246A, GST Council, CGST, SGST, IGST, UTGST structure
- Supply — Scope, composite and mixed supply, Schedule I/II/III, exempt supply
- Time of supply and Value of supply
- Input Tax Credit — Eligibility, blocked credits under Section 17(5), reversal, GSTR-2B reconciliation
- Registration — Threshold limits, compulsory registration, casual taxable person, non-resident
- Returns — GSTR-1, GSTR-3B, GSTR-9 (Annual Return), GSTR-9C (Reconciliation Statement)
- E-Way Bill — Threshold, validity, exceptions, penalty
- Demand and recovery — Section 73 (non-fraud) and Section 74 (fraud/suppression)
- Refunds — Zero-rated supply, ITC refund for exporters, inverted duty structure
Frequently asked questions
Everything about CMA Intermediate Direct and Indirect Taxation classes on ClearLevel
Still have questions? Talk to a course counsellor