CMA Final · June 2026 · Paper 15
CMA Final Direct Tax Laws and International Taxation June 2026: paper analysis
Our own analysis of the official paper, as of 12 October 2026. The questions and answers belong to ICMAI; read them on ICMAI's website.
Chapter-wise marks
Where the marks were in this paper (out of 100; internal-choice alternatives not double counted).
What each question tested
In our words, by question number. Open the official paper for the full question.
| Q | Marks | Tests | Chapter |
|---|---|---|---|
| 2(a) | 7 | Total income of a registered charitable institution running a hospital and college, with application and donation rules | Assessment of Trusts |
| 2(b) | 7 | Total income and tax of a partnership firm with partner interest and remuneration limits, TDS and MSME payment disallowances, plus partner's income | Assessment of Individuals including Non-residents |
| 3(a) | 7 | Individual's tax under the old regime versus the default regime with salary, house sale exemption and disability deduction | Assessment of Individuals including Non-residents |
| 3(b) | 7 | Company's tax under normal provisions versus the concessional regime, including additional employee cost deduction and disallowances | Assessment of Companies |
| 4(a) | 7 | Capital gain on slump sale of an undertaking using net worth and fair market value rules | Business Restructuring |
| 4(b) | 7 | Total income and tax of a non-resident sportsperson with special-rate income from Indian sources | Assessment of Individuals including Non-residents |
| 5(a) | 7 | Validity of revision of a completed assessment and eligibility for the dispute resolution committee | Assessment Procedure including Dispute Resolution Process |
| 5(b) | 7 | Applying income computation and disclosure standards to construction revenue, forex loss, stock valuation and expected losses | Income Computation and Disclosure Standards (ICDS) |
| 6(a) | 7 | Objectives and types of tax treaties and the key differences between the two main model conventions | Double Taxation Avoidance Agreements (DTAA) |
| 6(b) | 7 | Total income and unilateral relief for a resident senior citizen with foreign dividend, royalty and rent | Double Taxation Avoidance Agreements (DTAA) |
| 7(a) | 7 | Arm's length price of software development services for an associated enterprise using the most appropriate method | Transfer Pricing |
| 7(b) | 7 | Limitation on interest deduction for debt from or guaranteed by associated enterprises | Transfer Pricing |
| 8(a) | 7 | Company's total income under normal provisions and book profit under MAT with brought-forward losses | Assessment of Companies |
| 8(b) | 7 | Whether given relationships make entities associated enterprises under transfer pricing rules | Transfer Pricing |
What stood out
- International taxation was heavy: transfer pricing alone had three written parts (arm's length price, interest limitation, associated enterprise tests) and three MCQs.
- Assessment of individuals, firms and companies made up five written parts, often asking candidates to compare the default regime with the old or concessional regime.
- Procedural and administrative topics (revision of assessment, dispute resolution, ICDS application) appeared as situation-based parts rather than pure theory.
- DTAA was tested both as a theory note on model conventions and as a unilateral relief computation.
- Only one part was pure theory, so Section B demanded fluent computation across most of the syllabus.
Practise the chapters that carried the marks
Transfer Pricing, Assessment of Individuals including Non-residents, Double Taxation Avoidance Agreements (DTAA): study guides and practice questions in the CMA Final format.