Description
Direct & Indirect Taxation – CRACKER is an exhaustive, exam-centric compilation of fully solved past examination questions for CMA Intermediate – Group I | Paper 7, meticulously structured to reflect the CMA syllabus (2022 onwards) and the actual examination framework adopted by the Institute. This book is designed as a strategic preparation tool, enabling students to master taxation through question-based learning, examiner-oriented answers, and trend-driven topic prioritisation.
The Present Publication is the 4th Edition for the June/Dec. 2026 Exams. It is authored by CA. Tarun Agarwal & CA. (Dr) K.M. Bansal, with the following noteworthy features:
[Complete Past Examination Coverage] Includes all relevant questions (MCQs, theory, and practical problems) asked in CMA Intermediate examinations up to December 2025. The questions are arranged module-wise and chapter-wise, mirroring the CMA syllabus
[Module-wise Marks Distribution & Trend Analysis] Dedicated sections analysing question frequency, compulsory questions, marks weightage, and category (MCQ/Theory/Practical). It enables students to identify high-yield chapters and consistently tested areas, based on actual exam data
[Chapter-opening Tabular Summaries] Each chapter begins with a concise tabular overview highlighting:
Core provisions
Repeatedly examined concepts
Practical application focus
Serves as an effective pre-study and last-minute revision tool
[Examiner-oriented Solutions] Answers are framed in a stepwise, presentation-oriented format consistent with CMA evaluation standards. The emphasis is on:
Proper working notes
Logical sequencing
Precise statutory references
[Updated for Latest Law] All answers revised in line with:
Income-tax provisions applicable to A.Y. 2026-27
Current GST law, including valuation, ITC, registration, returns, and compliance
Latest Customs law provisions relevant for the CMA syllabus
The book is divided into two comprehensive sections, precisely aligned with the CMA syllabus:
Section A – Direct Taxation | Covers the entire Income-tax framework relevant to CMA Intermediate, including:
Basic concepts, basis of charge, capital vs revenue receipts
Residential status and scope of total income
Agricultural income and exempt incomes
Heads of income:
Salaries
House Property
PGBP
Capital Gains
Other Sources
Clubbing of income
Set-off and carry forward of losses
Deductions, rebate and relief
Taxation of Individuals & HUF
Advance tax, TDS/TCS
Return filing, PAN, self-assessment and intimation
Section B – Indirect Taxation | Provides complete exam-oriented coverage of:
Concept and principles of indirect taxes
GST Law, including:
Levy and collection of CGST & IGST
Time, place and value of supply
Input tax credit
Computation of GST liability
Registration
Tax invoice and e-way bill
Returns and payment of tax
Customs Law, covering:
Basic concepts and definitions
Types of duties
Valuation rules
Computation of assessable value and duties
All topics are supported exclusively through actual CMA examination questions with solved answers
The structure of the book is as follows:
Module-wise Organisation strictly as per the CMA syllabus
Module-wise Comparison Tables mapping chapters with CMA Study Material modules
Previous Exam Trend Analysis Tables are placed upfront for strategic planning
Solved Questions are presented chronologically and thematically, aiding progression from basics to application
Clear separation of MCQs, Theory Questions, & Practical Problems for focused practice
This structure ensures exam predictability, targeted preparation, and efficient time management
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