I love taxation very much, I did self study for
CA IPC Taxation for May 2013 and managed to score 70.
I have read almost every book written on taxation
for CA IPCC students.
My book collection includes:
1. VK Singhania (also recommended by ICAI)
2. TN Manoharan (Former President of ICAI,
recommended by ICAI)
3. Dr. Girish Ahuja (Recommended by ICAI)
4. MK Gupta (famous teacher in Delhi)
5. Ajay Jain (famous teacher in Delhi).
VK Singhania (VKS)
–
1. My all views on VKS is only for Income Tax
because ST and VAT are disappointing in this book.
2. VKS was the first book I bought for CA IPC
Exams. After seeing this book, honestly I fell in love with CA IPC Tax.
3. It contains everything that you want to know
about tax. No one can claim that any topic pertinent for the Exam is not
included in this book.
4. Even if you complete 80% of practical
questions from each chapter you are 100% prepared for Income Tax.
5. It is burdensome to revise this book. So my
suggestion would be to prepare notes.
6. It is totally student friendly because it
contains superabundant practical questions on each provision. So there is very less
chance of any uncertainty in Income Tax.
7. Theory chapters like Income Tax Return, TDS,
Advance Tax, AMT, Clubbing, Set off etc are unsatisfactory in his book.
8. If you want to have good hold on taxation, my strong
recommendation for this book.
9. Negative Remark --> VAT and ST section is unacceptable. It's a very gigantic book, fonts are very tiny. There are certain summaries like for Deductions in
Capital Gain where size of fonts is microscopic. This book is monotonous for those
who still love jazzy books.
TN Manoharan
(TNM)-
1. I discern it is completely exam oriented.
2. I do not find anything pre-eminent in this
book. Book size is customary, fonts are conventional, printing quality is not so dull.
3. Does not cover even 50% questions of VKS. But this
book is enough for exam.
4. But the book covers 100% syllabus. Nothing is missing in this book.
5. Many students and experts say it's best for
exam, but I think you can't understand taxation properly from this book.
6. Income Tax is Good, VAT and ST are not so hot.
7. Negative Remark --> I felt for Self Study it is not a very good publication.
Dr. Girish Ahuja-
1. Good for exams + grasping motive.
2. I think, author knows very well what a student needs in
a book. Book size is ordinary, fonts are acceptable, printing quality is good.
3. Use of Bold words and other printing facets assist student to discern what is important for exams and what is not.
4. Contains ample number of questions.
5. Income Tax and VAT is Good But ST is
superb.
6. It is best book to understand ST properly.
7. It is painless to revise this book during exam.
8. No negative comments.
MK Gupta (MKG)-
1. Best for understanding IT and VAT. Okey-dokey for
ST.
2. I found this book most functional to understand
practical chapters like House Property, Capital Gain and Other Sources.
3. It has 150 pages for VAT which is I think makes this book, the largest book on VAT for CA IPC Tax. But in good faith incredible book for VAT.
4. If you really want to know VAT must read his
book.
5. Best part of his books. They contain Past Year
Questions in a very good sequence (ie. chapter wise and year wise). Also
contain Bare Act to understand Tax more practically. there are many problems at
end of every chapter which are best to understand the chapters.
7. Another best part of his books, they contain
illustrations on each provision and in straightforward language with comparative
analysis. It means many times students have confusion like what will happen if
this is that and that is this, the book will answer such questions by giving 3-4
examples on each provision.
8. Printing quality is best, font size is best,
size of books are small because they have divided there books in 6 parts
so does not create any psychological pressure on students.
9. Negative Remark --> Not good for ST, Not good
for practicing exam oriented questions. I don't think you will get even 80%
confidence even if you complete all questions in the books.
10. Best thing you can dowload his books for free
from: http://www.mkgeducation.com/books---income-tax.html
Ajay Jain –
1. He has authored summarized book for Taxation.
2. Absolutely his books are not recommended for
self study.
3. But his books are 100% exam oriented, book
contains limited provision.
4. He has not covered many provisions in his book
but still covers whole syllabus for exam purpose. My friend told me that Ajay
Jain Sir use to say in his classes "mene book mein sirf mallaai daali
hai".
5. I love his VAT and ST books. I don't think
anyone else can make these two portions so easy and concise but still best for
exam.
6. I would recommend his book for
ST and VAT only for Exam not for understanding purpose.
7. Negative Remark --> Summarized books, so it is
impossible to understand Tax from his books.
My personal experience:
Income Tax
- For understanding
purpose refer any book except Ajay Jain, I found MK Gupta book best
for understanding.
- For practicals only VKS. Even if you do 80%
questions from each chapter you are 100% prepared for exams.
Service Tax and VAT - Only Ajay Jain
Book, sufficient for exam purpose.
- For Understanding Purpose refer MK Gupta Book
for VAT and Girish Ahuja for Service Tax.
I know it is not possible to
purchase all the books.
So which book should you purchase.
VKS - Income Tax
Ajay Jain - ST and VAT
http://www.mkgeducation.com/ in case you
feel any difficulty download free books from his website for reference purpose.
Last tip for the beginners
1. Start with Income Tax, Basics and then
residential status.
2. Do House Property, then Salary Head, then
PGBP, then Capital Gain and then Other Sources.
3. Deduction of Chapter VI A
4. Do Clubbing and Set off chapters.
5. Advance Tax and TDS.
6. Now do Agricultural Income, Trust, Exemptions,
AMT.
7. Practice Total Income Questions.
8. Do Income Tax Return or any other provision left out in Income Tax
9. Do VAT
10. Now ST
