CA Inter Group 1 — Complete 45-Day Study Plan for May 2026 (Accounts, Law & Tax)
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CA Inter Group 1 — Complete 45-Day Study Plan for May 2026 Exams
Paper 1: Accounting · Paper 2: Corporate & Other Laws · Paper 3: Taxation (IT + GST) · Week-by-Week Plan · Chapter Priorities · Last 10 Days Strategy
Exam Starts: May 3, 2026Group I: Paper 1, 2 & 3Start by: March 19, 2026
47
Days to Paper 1
Accounting
May 3, 2026 · 2 PM – 5 PM
49
Days to Paper 2
Corporate & Other Laws
May 5, 2026 · 2 PM – 5 PM
51
Days to Paper 3
Taxation (IT + GST)
May 7, 2026 · 2 PM – 5 PM
Group 1 exams start May 3. If you start March 19, you have exactly 45 days. Most students who fail Group 1 don't fail because they didn't study — they fail because they spread time equally across Accounts, Law, and Tax without respecting how differently each paper needs to be prepared. Accounts is numerical. Law is application-based theory with section citations. Tax is both — and it changes every year. This plan tells you what to study each week, which chapters matter most, and exactly how to use your last 10 days.
1
Know Your Papers — Before You Start the Clock
Exam dates, paper types and what each paper demands
Group I — Paper 1
Accounting
📅 May 3, 2026 · 2 PM – 5 PM
Numerical + Theory
100 marks. Mix of practical problems and theory. Partnership accounts, company accounts, AS standards, and Cash Flow — all tested every attempt. Presentation and working notes are as important as the final answer.
Group I — Paper 2
Corporate & Other Laws
📅 May 5, 2026 · 2 PM – 5 PM
Pure Theory
Companies Act 2013 + Other Laws (LLP, FEMA, Contract Act, NI Act). Part I = 60 marks, Part II = 40 marks. Section-cited structured answers score far better than free-form explanations. Know your section numbers.
Group I — Paper 3
Taxation (IT + GST)
📅 May 7, 2026 · 2 PM – 5 PM
Numerical + Theory
Section A: Income Tax (60 marks) — computations, heads of income, deductions. Section B: GST (40 marks) — supply, ITC, registration, returns. Changes every Finance Act. AY 2026-27 provisions apply.
⚠️
The #1 Reason Students Fail Group 1 — Taxation Underprepared
Tax is the paper where students consistently underperform relative to effort. IT computation questions break down when income from multiple heads, set-off rules, and Chapter VIA deductions all converge in one problem. GST is vast and changes every year. Students who fail Group 1 almost always score under 40 in Paper 3. This plan gives Tax the preparation weight it deserves — IT computations and GST ITC are non-negotiable priorities.
2
Chapter Priorities — Where to Spend Your Time
Based on ICAI past papers, RTPs and MTPs from last 5 sessions
Resident/NR/RNOR determination — scoring short question in every attempt.
GST: Exempt Supplies & Composition
🟠 Medium
Negative list, composition scheme — theory questions.
Note: Study IT provisions for AY 2026-27 (Finance Act 2025). GST as amended up to Finance Act 2025. Use ICAI's May 2026 Study Material — do not rely on older editions.
3
The 45-Day Week-by-Week Plan
March 19 to May 2 — subject by subject, day by day
Accounts needs daily practice to stay sharp. Tax has the highest content volume and changes every year — it needs the most raw hours. Law requires consistent reading, not cramming. This split reflects what it actually takes to clear all three.
1
Week 1 — Foundation First: Partnership + Incorporation + Salary
Partnership Accounts — Admission (goodwill treatment, revaluation, capital adjustment). Retirement and death of partner. Practise 8–10 full admission problems. Focus on the full entry sequence from start to finish — never just the goodwill entry in isolation. Accounts
Day 4–5
Incorporation of Company — types of companies, MOA, AOA, prospectus. Directors — appointment, DIN, disqualification (Sec 164), powers and duties. For every provision you read, note the section number. This habit will directly score marks. Law
Day 6–7
IT: Residential Status (Sec 6) — Resident, NR, RNOR. Scope of total income. Salary head (Sec 15–17) — allowances, perquisites valuation, standard deduction, employer PF contribution. Practise 5+ salary computation problems including perquisite valuation. Tax
2
Week 2 — Company Accounts + Share Capital Law + PGBP
March 26 – April 1 (Days 8–14)
Accounts: Company Accounts | Law: Share Capital & Debentures | Tax: PGBP + Depreciation
Day 8–10
Company Accounts — issue of shares (pro-rata allotment, calls in arrears, forfeiture, reissue). Issue and redemption of debentures. Final accounts of a company. Practise end-to-end company final accounts — minimum 5 full problems. This is the most marks-dense area in Paper 1.Accounts
Day 11–12
Share capital provisions — kinds, buy-back (Sec 68–70), ESOP, sweat equity. Debenture provisions. Meetings and Resolutions — AGM (Sec 96–98), EGM, Board meetings (Sec 173), quorum, voting. Cite sections in every answer. Law
Day 13–14
IT: PGBP (Sec 28–44) — business income, admissible and inadmissible deductions. Depreciation — block of assets, WDV method, additional depreciation (Sec 32). Practise 8+ PGBP computation problems including depreciation block calculations. Tax
3
Week 3 — Cash Flow + Meetings/Resolutions + Capital Gains
April 2 – April 8 (Days 15–21)
Accounts: Cash Flow (AS 3) + Key AS | Law: Contract Act + NI Act | Tax: Capital Gains + House Property
Day 15–17
Cash Flow Statement — indirect method (PAT → adjust non-cash items → working capital changes → financing/investing). Direct method basics. Practise 8+ full Cash Flow problems. This chapter appears in every attempt — treat it like a guaranteed 15 marks. Also cover AS 2 (Inventories) and AS 9 (Revenue Recognition) theory. Accounts
Day 18–19
Indian Contract Act — offer and acceptance, consideration, capacity to contract, free consent (coercion/undue influence/fraud/misrepresentation/mistake), void agreements, performance and breach, remedies. Negotiable Instruments Act — types, cheque vs bill, endorsement, dishonour. Scenario answers: Issue → Law → Application → Conclusion. Law
Day 20–21
IT: Capital Gains (Sec 45–55) — STCG, LTCG, full value of consideration, indexed cost. Exemptions: Sec 54, 54B, 54EC, 54F with all conditions. House Property income (Sec 22–27) — annual value, deductions, self-occupied vs let-out. Practise 5+ CG computation problems. Tax
Accounting Standards — AS 7 (Construction Contracts), AS 10 (PPE), AS 16 (Borrowing Costs), AS 22 (Deferred Tax), AS 26 (Intangibles). For each: objective, scope, recognition, measurement. Practise journal entries for AS 22 deferred tax calculations. Accounts
Day 25–26
Dividend provisions (Sec 123–127), Audit and Auditors overview (Sec 139–148 basics), Winding up overview. LLP Act fundamentals, FEMA basics, PMLA awareness. Ensure all Company Law sections are mapped to your section number cheat sheet. Law
Day 27–28
GST: Concept of supply (Sec 7–8), composite vs mixed supply, place of supply (Sec 10–14), time of supply, value of supply. Input Tax Credit — eligibility conditions (Sec 16), blocked credits (Sec 17(5)) — memorise the full Sec 17(5) list. Practise 10+ ITC problems and MCQs. Tax
5
Week 5 — Complete Remaining Topics + First Full Revision
April 16 – April 22 (Days 29–35)
Accounts: Branch + HP + Investment | Law: Complete sweep | Tax: Total Income + GST Returns
Day 29–30
Branch Accounts (including foreign branch with currency conversion), Departmental Accounts, Hire Purchase, Investment Accounts. Ensure all ICAI Study Material questions from high-priority Accounts chapters are attempted at least once. Accounts
Day 31–32
Complete Law sweep — re-read all section numbers for Company Law. Finalize section cheat sheet (Sec 2 definitions, 96, 100, 139, 164, 173, 180, 186). Make sure Other Laws (Contract Act, NI Act) case-style answers are practised. Law
Day 33–34
IT: Total Income computation — integration of all heads, set-off and carry forward, Chapter VIA deductions (Sec 80C, 80D, 80G, 80TTA, 80TTB). Other Sources income. GST: Registration (Sec 22–25), GSTR-1, GSTR-3B, Composition scheme (Sec 10), Exempt supplies. Tax
Day 35
First Full Revision Day — scan across all 3 papers. Accounting working note format check. Law section numbers. Tax computation sequence head by head. List weak chapters — these get priority time in Week 6. Revise
6
Week 6 — ICAI RTPs, MTPs & Mock Tests
April 23 – April 29 (Days 36–42)
100% ICAI material — no new learning this week. Practice papers only.
Day 36–37
Attempt 2 full Accounting MTP/RTP papers under 3-hour exam conditions. Review vs ICAI suggested answers. Did your Partnership working note format match? Was your Cash Flow structured correctly? Did you show all workings? Mock
Day 38–39
Attempt 2 full Law MTP/RTP papers. Check: did you cite section numbers? Is the answer in Issue-Law-Application-Conclusion format? Law answers without section citations score 40–50% less. No exceptions. Mock
Day 40–41
Attempt 2 full Tax MTP/RTP papers. Score strictly. IT: full computation format with all heads shown. GST: did you address supply, place, time AND value where required? Check Sec 17(5) compliance on ITC questions. Mock
Day 42
Weak Chapter Day — rework specific questions where you lost marks. Revise AS standards. Refresh Law section number cheat sheet. IT deductions under Chapter VIA — memorise amounts and conditions. Revise
🏁
Last 3 Days — Final Revision Only (April 30, May 1, May 2)
Days 43–45 · No new topics. No new questions. Consolidate only.
First exam is May 3 — you need a fresh, clear mind going in
April 30 (Day 43)
Accounting rapid revision — Partnership goodwill formula, Cash Flow indirect method steps, key AS recognition criteria, Company accounts working note format. Re-read mistake notebook. Sleep by 10:30 PM. Revise
May 1 (Day 44)
Law rapid revision — section number cheat sheet (Sec 96, 100, 139, 164, 173). Contract Act key principles. NI Act types and dishonour. Light Tax revision in evening — IT heads sequence, GST supply classification flowchart. Revise
May 2 (Day 45)
Tax rapid revision — full income computation sequence, Chapter VIA deductions (80C limit ₹1.5L, 80D limits, 80G conditions), CG exemptions (Sec 54/54EC), GST blocked credits (Sec 17(5)). Stop studying by 4 PM. Rest. Sleep early. Paper 1 Accounting is tomorrow at 2 PM.Revise
4
Exam Day Strategy — Paper by Paper
How to use your 3 hours on each exam day
3
May 2026 · 2 PM – 5 PM
Paper 1 — Accounting
First 15 min: Read all questions. Identify your 4–5 strongest problems first.
Attempt order: Partnership → Company accounts → Cash Flow → AS question
Key rule: Show ALL workings in T-accounts or columnar format. Neat, labelled workings — steps score marks even when the final answer has an arithmetic error.
5
May 2026 · 2 PM – 5 PM
Paper 2 — Law
First 15 min: Read all questions. Structure your answer mentally before writing.
Key rule: Write in paragraphs, not bullet points. Every answer must cite the section number. No section = half marks at best.
7
May 2026 · 2 PM – 5 PM
Paper 3 — Taxation
Time split: 90 minutes IT + 90 minutes GST.
IT: Start with the computation format — head by head table. Show each deduction with section reference (Sec 80C, 80D etc.).
GST: For ITC questions — always check Sec 17(5) blocked credits first. State the section for every rule you apply.
⏱️
The 2-Day Gap Between Papers — Use It Right
You have a 2-day gap between each paper (May 3 → May 5 → May 7). Day 1 after each paper = recovery only, no studying. Day 2 = focused revision of the next paper only. Do not re-analyse the exam you just gave. Move forward only — that is the right mindset.
5
5 ICAI Resources You Must Use
Non-negotiable — these are what the examiner tests from
01
ICAI Study Material
Primary source. For Tax — May 2026 edition only. Finance Act 2025 provisions apply. Do not use an older edition for Tax.
02
Practice Manual
Attempt ALL questions for Accounts and Tax. Every question in the PM for these two papers — this is your second exam paper.
03
MTPs May 2026
2 MTPs per subject released by ICAI. All 6 papers — attempt every one under 3-hour timed conditions. Review against official answers.
04
RTP May 2026
Available at icai.org. The RTP is the closest preview of actual exam question patterns. Non-negotiable for Tax.
05
Suggested Answers
Jan 2026 + Sep 2025. Study how ICAI writes answers — the format, the length, the section citation style. Copy it exactly.
6
6 Mistakes That Cost Students Group 1
Avoid these — they are the difference between passing and repeating
Not citing section numbers in Law answers. "The company cannot do this" = 1 mark. "As per Section 164(2) of the Companies Act 2013, a director is disqualified if..." = 4 marks. One section number is worth more than two paragraphs of explanation in Paper 2.
Using last year's Tax study material. IT provisions change every Finance Act. Students who prepare from older material enter the exam with wrong deduction limits, wrong thresholds, wrong tax rates. Only ICAI's May 2026 Study Material is valid — no exceptions.
Skipping working notes in Accounting. ICAI examiners follow your logic through the working, not just the final balance. A wrong final answer with clear, correct workings scores 6/10. A correct answer with no workings can score 3/10. Always show your work.
Treating Tax as one paper instead of two. IT requires computation thinking. GST requires law-application thinking. Students who mix both end up applying GST logic to IT problems and vice versa. Revise them separately in the last 10 days — different sessions, different mindset.
Allocating equal time to all Law chapters. Company Law (Part I, 60 marks) deserves 3× more time than Other Laws (Part II, 40 marks). Most students split evenly and under-prepare Company Law. Directors, Meetings, and Share Capital are almost guaranteed to appear — treat them as Accounting-level priority.
Attempting Accounting sub-parts only, never full problems. Students practise just the goodwill calculation, or just the revaluation entry — never the full partnership problem from beginning to end. The exam asks for the full problem. If you haven't practised it end-to-end under time pressure, you will not finish it in 3 hours.
Need the Right Faculty for Group 1? Zeroinfy Has You Covered.
Zeroinfy offers video lectures by India's top CA Inter Group 1 faculties — updated for May 2026. Accounting, Law and Taxation available in regular and fast-track batches. Free counselling to help you pick the right faculty for each subject.
This study plan is based on ICAI's official exam schedule, past papers and RTP/MTP patterns. Exam dates subject to ICAI's final notification — verify on icai.org. Tax provisions as per Finance Act 2025, AY 2026-27. Zeroinfy Academic Desk, March 2026.
