CMA Intermediate · December 2025 · Paper 7
CMA Intermediate Direct and Indirect Taxation December 2025: 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 | Gross total income of an individual under resident and non-resident status for Indian and foreign incomes | Residential Status and Scope of Total Income |
| 2(b) | 7 | Salary income under the default regime with bonus, provident fund contribution, laptop perquisite and travel concession | Salaries |
| 3(a) | 7 | Annual value and deductions for a let-out house with pre-construction interest under the default regime | Income from House Property |
| 3(b) | 7 | Presumptive income from goods carriages based on vehicle weight and months held | Profits and Gains of Business or Profession |
| 4(a) | 7 | Long-term capital gain on a house with fair value as on base date, improvement cost, reinvestment exemption and a stolen asset | Capital Gains |
| 4(b) | 7 | Income from other sources: sitting fees, gifts, interest and land bought below stamp duty value | Income from Other Sources |
| 5(a) | 7 | Gross total income with intra-head and inter-head set-off and losses carried forward with time limits | Set off and Carry Forward of Losses |
| 5(b) | 7 | Comparing an individual's tax under the default and old regimes with chapter VI-A deductions | Taxation of Individuals (including AMT) and HUF |
| 6(a) | 7 | Concept and features of indirect taxes | Concept of Indirect Taxes |
| 6(b) | 7 | Central and state levies subsumed in GST and those left outside it | Introduction to GST Law |
| 7(a) | 7 | Aggregate turnover for composition scheme eligibility with exempt, export and interest income | Composition Levy |
| 7(b) | 7 | Transaction value of goods with subsidies, waived late fees, discounts and buyer-paid costs | Time and Value of Supply |
| 8(a) | 7 | Eligibility and registration-level availability of the quarterly return monthly payment scheme | Returns and Payment of Taxes |
| 8(b) | 7 | Customs valuation rules on freight, insurance, transhipment, exchange rate and duty rate for air imports | Customs Act |
What stood out
- Income tax carried eight of fourteen written parts, all numerical and spread across every head of income plus set-off and regime comparison.
- The new default regime featured repeatedly (salary, house property, set-off and regime choice), so practising both regimes side by side is essential.
- Indirect tax written parts split between theory (GST concepts, subsumed taxes, QRMP, customs valuation rules) and two numericals on composition turnover and value of supply.
- Customs appeared in Section B only as a theory part, but two MCQs also tested customs basics.
- A theory-oriented candidate could choose Questions 6 and 8 to secure 28 marks without heavy computation.
Practise the chapters that carried the marks
Customs Act, Salaries, Profits and Gains of Business or Profession: study guides and practice questions in the CMA Intermediate format.