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Key Facts: CMA Final Paper 15 Exam
100
Marks in Paper 15
ICMAI Syllabus 2022
3 hrs
Exam Duration
ICMAI Syllabus 2022
60%
Section A Direct Tax Weight
ICMAI Paper 15 Syllabus
40%
Section B International Taxation Weight
ICMAI Paper 15 Syllabus
40% / 50%
Paper / Group Pass Mark
ICMAI CMA Final Rules
Group III
Exam Group
ICMAI Syllabus 2022
CMA Final Paper 15 (Direct Tax Laws and International Taxation, DIT) is a Group III written exam of 100 marks in 3 hours under ICMAI Syllabus 2022. Section A on Direct Tax Laws carries about 60% and Section B on International Taxation about 40%. Section A covers assessment of individuals, non-residents, companies, firms and trusts, return and assessment procedure, appeals and revision, penalties, business restructuring, tax planning, ICDS, and the Black Money Act, 2015. Section B covers DTAA (Sections 90/90A/91 and OECD/UN models), transfer pricing, GAAR, BEPS, and non-resident taxation. The paper is updated each term for the applicable assessment year and the latest Finance Act; the pass mark is 40% in the paper and 50% aggregate in the group.
Sample CMA Final Paper 15 Practice Questions
Try these sample questions to test your CMA Final Paper 15 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.
1A resident domestic company opts for the concessional tax regime under Section 115BAA for AY 2025-26. What is the effective tax rate (including surcharge and health & education cess)?
2Under Section 115BAB, a new domestic manufacturing company set up and registered on or after 1 October 2019 and commencing manufacturing by 31 March 2024 is taxed at what base rate on its eligible manufacturing income?
3Income earned by a non-resident from operating ships under Section 44B is computed on a presumptive basis as what percentage of the specified receipts?
4For a partnership firm assessed under the Income-tax Act for AY 2025-26, what is the rate of income tax (before surcharge and cess) on its total income?
5Remuneration paid to working partners of a firm is deductible under Section 40(b) only if it is authorised by the partnership deed and within the prescribed limits. On the first Rs. 6,00,000 of book profit (or in case of loss), the maximum deductible remuneration (per Finance Act, 2024 limits) is:
6Under Section 11, a charitable trust must apply at least what percentage of its income to charitable or religious purposes in India to claim exemption, with the balance permitted to be accumulated?
7The Alternate Minimum Tax (AMT) under Section 115JC applies to non-corporate assessees claiming specified deductions, levied at what rate on adjusted total income (before surcharge and cess)?
8Minimum Alternate Tax (MAT) under Section 115JB is computed at 15% of book profit. Companies opting for which sections are exempt from MAT?
9MAT credit under Section 115JAA, being the excess of MAT paid over normal tax, can be carried forward and set off for a maximum of how many assessment years?
10A belated return of income under Section 139(4) for AY 2025-26 can be filed at any time before:
About the CMA Final Paper 15 Exam
CMA Final Paper 15 under ICMAI Syllabus 2022 tests advanced Direct Tax Laws (Section A, ~60%) and International Taxation (Section B, ~40%), covering assessment of entities, procedure, appeals, penalties, business restructuring, ICDS, the Black Money Act, DTAA, transfer pricing, GAAR, and BEPS.
Assessment
Question count not published by the exam provider
Time Limit
3 hours
Passing Score
40% in the paper and 50% aggregate in the group
Exam Fee
Part of the ICMAI CMA Final group exam fee, set per term (commonly around INR 1,200 per group) (The Institute of Cost Accountants of India (ICMAI))
CMA Final Paper 15 Exam Content Outline
Section A: Direct Tax Laws
Assessment of income and tax liability for individuals, non-residents, companies, firms, LLPs and trusts; tax management, returns and assessment/reassessment procedure; interest, fees, survey, search and seizure; appeals, rectification, revision, advance ruling and the Dispute Resolution Committee; penalties and prosecutions; business restructuring (amalgamation, demerger, slump sale, conversions); tax planning; CBDT and authorities; e-commerce and equalisation levy; ICDS; and the Black Money Act, 2015.
Section B: International Taxation
Double Taxation Avoidance Agreements including Sections 90, 90A and 91, OECD and UN model conventions, residence tie-breakers, permanent establishment and treaty articles; transfer pricing including associated enterprises, arm's length price methods, the arm's length range, APA and rollback, safe harbour, thin capitalisation, secondary adjustments and documentation; General Anti-Avoidance Rules (GAAR); BEPS action plans, the MLI, the principal purpose test and global minimum tax; and taxation of non-residents.
How to Pass the CMA Final Paper 15 Exam
What You Need to Know
- Passing score: 40% in the paper and 50% aggregate in the group
- Assessment: Question count not published by the exam provider
- Time limit: 3 hours
- Exam fee: Part of the ICMAI CMA Final group exam fee, set per term (commonly around INR 1,200 per group)
Keys to Passing
- Work through all 100 available questions
- Review every answer and explanation
- Track weak areas and revisit them
- Use our AI tutor for tough concepts
CMA Final Paper 15 Study Tips from Top Performers
Frequently Asked Questions
What is CMA Final Paper 15 about?
CMA Final Paper 15, titled Direct Tax Laws and International Taxation (DIT), is a Group III paper under ICMAI Syllabus 2022. Section A covers advanced direct tax laws (about 60%) and Section B covers international taxation such as DTAA, transfer pricing, GAAR and BEPS (about 40%).
How is CMA Final Paper 15 weighted between the two sections?
Section A: Direct Tax Laws carries approximately 60% of the marks and Section B: International Taxation carries approximately 40%, for a paper of 100 marks attempted in 3 hours.
What is the passing requirement for Paper 15?
A candidate must score at least 40% in Paper 15 and at least 50% in aggregate across the group to pass, subject to ICMAI's exemption and set-off rules for the CMA Final.
Is Paper 15 an MCQ exam?
The ICMAI Paper 15 examination is primarily a written/descriptive exam of 100 marks. ICMAI also publishes an official objective question bank, and MCQ practice is widely used to master the law before the descriptive exam.
Which assessment year applies to Paper 15?
Paper 15 content is updated each exam term for the applicable assessment year and the latest Finance Act. Candidates should confirm the assessment year and amendments notified for their specific term.
What topics fall under Section B International Taxation?
Section B covers Double Taxation Avoidance Agreements (Sections 90/90A/91, OECD and UN models), transfer pricing (arm's length price, methods, APA, safe harbour, thin capitalisation, documentation), GAAR, BEPS measures, and taxation of non-residents.