Taxmann Cracker - Business Laws and Ethics Book for CMA Inter by Leena Lalit Parakh

Edition : 7th (June 2026)

Exam Attempt :  Dec 2026, June 2027

Business Laws & Ethics – CRACKER is Taxmann's dedicated, exam-oriented question bank and revision companion for CMA Intermediate, Group I – Paper 5, written strictly in line with the ICMAI Syllabus 2022. The book has a single purpose: to convert a student's reading of the law into marks in the examination hall.

Instead of reteaching the syllabus, the CRACKER uses the Institute's own examination history to create a structured practice system. Every chapter opens with a quick conceptual review, followed by a graded set of questions—objective and descriptive—drawn from past CMA examinations and answered exactly the way the examiner expects. This Edition compiles solved past-exam questions up to and including the June 2026 term, drawing on more than a decade of CMA papers, and reflects the latest applicable provisions and amendments under each law. The result is a current, focused, and strategy-driven companion that helps students revise efficiently and walk into the December 2026 or June 2027 attempt fully prepared.

The Present Publication is the 7^th Edition | June 2026, authored by CA. Leena Lalit Parakh, with the following noteworthy features:

• [Solved Past-Exam Questions till June 2026] A fully-worked, topic-wise archive of CMA questions reaching back more than a decade (questions are tagged from as early as 2013) right up to the latest June 2026 paper, so the students can practise on authentic examination material
• [Module-wise Marks Distribution] A front-of-book table showing how marks have been spread across all 13 modules across the Syllabus-2022 exams (2023–2026), with a multi-year average per module so the students can prioritise by weightage
• [Previous Exams Trend Analysis] A question-by-question breakdown of every Syllabus-2022 paper from July 2023 to June 2026 (year, question number, chapter and marks), revealing exactly how and where each topic is tested
• [Tabular 'Quick Review' Summary at the Start of Each Chapter] A crisp snapshot of the chapter's key provisions and concepts for fast recall and last-minute revision
• [Module-wise Comparison with ICMAI Study Material] Every module is mapped to its corresponding module number in the Institute's official study material, so nothing on the syllabus is missed
• [Latest Applicable Provisions and Amendments] Each law is presented in its current, amended form, matching the position the examiner will test
• [Mixed Question Formats] Multiple Choice Questions (with answer keys), Fill in the Blanks, True/False-type questions, descriptive 'Other Important Questions,' and full past-exam theory/problem questions—every question tagged with its exam term and marks

The book mirrors the full architecture of Paper 5, organised into 13 modules across 4 sections:

• Section A — Commercial Laws
  • Introduction to Law and Legal System in India
  • Indian Contract Act 1872
  • Sale of Goods Act 1930
  • Negotiable Instruments Act 1881
  • Indian Partnership Act 1932
  • Limited Liability Partnership Act 2008
• Section B — Industrial Laws
  • Factories Act, 1948
  • Payment of Gratuity Act, 1972
  • Employees Provident Fund and Miscellaneous Provisions Act, 1952
  • Employees State Insurance Act, 1948
  • The Code on Wages, 2019
• Section C — Corporate Laws
  • Companies Act 2013
• Section D — Business Ethics
  • Business Ethics and Emotional Intelligence
• Where the marks actually fall (average marks per module, 2023–2026). The book's own marks-distribution analysis makes the strategy clear—three modules dominate the paper (average marks per module, in descending order):
  • This lets a student see at a glance that the Companies Act, the Contract Act and Business Ethics together carry the bulk of the paper—and plan revision accordingly

The book is organised module-wise, tracking the exact sequence and grouping of the ICMAI study material so the two can be used side by side. It opens with three analytical tools that set up smart preparation:

• Module-wise Marks Distribution — Weightage of every module across the Syllabus-2022 attempts (2023–2026)
• Previous Exams Trend Analysis — A granular, question-by-question map of past papers (July 2023 → June 2026)
• Module-wise Comparison with Study Material — Each module linked to its ICMAI study-material module number
• Within each module, the content follows a consistent, revision-friendly rhythm:
  • A 'Quick Review' summary capturing the essential provisions and concepts in a scannable form
  • Objective Practice — MCQs with answer keys, Fill-in-the-Blanks and True/False-type questions, each carrying its exam reference and marks
  • Descriptive Practice — Past-exam theory and problem questions, plus curated 'Other Important Questions,' all answered to examination standard
  • Exam Tagging — Every question is labelled with the term it appeared in (e.g., [June 2026, 2 Marks]), so students can gauge importance and recency at a glance. Questions span more than a decade of CMA papers, reorganised topic-wise under the Syllabus 2022 structure
  • The exam pattern reflected in the reproduced papers is also instructive: each paper opens with a compulsory Question 1 of short sub-questions that draw across all modules, followed by descriptive questions (largely 7 marks each) spanning the four sections—and the CRACKER's arrangement prepares students for both halves of that pattern