Taxation Nightmare: AIBE Prep Experience

I still remember the sleepless nights trying to grasp those complicated IT Acts and Amendments. Our AIBE prep course had a section on Taxation, and I was struggling to keep up. Mock test question: 'A company has made a profit of ₹10 lakhs in the previous year. The Assessing Officer has granted a deduction under Section 11(1)(a) of the Income-tax Act, 1961. What percentage of the total profit will be considered for computation of the company's taxable income?' (Ans: 80%)

Scored 75/100, and I knew my weak areas: IAC (Income-tax Act, 1961) sections like 10, 11, 12, and 56 were a mess. Didn't help that the mock test questions were a mix of straightforward and tricky ones.