Taxmann Cracker -Direct and Indirect Taxation Book for CMA Inter by Tarun Agarwal, K.M. Bansal

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 4^th 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