“Self-Study of Sodhani Sir’s IDT Modules is Sufficient”
“Its one’s own determination and focus that matters. A good family background is always an added advantage but a normal family background can never be an excuse !”
— CA Ankit Mehta, AIR-8, CA Final Nov. 2014
[One who preferred CA over SRCC & MBA over jobs]
Presented below is the conversation of CA Vineet Sodhani with CA Ankit Mehta (one of those who went for self-study of our ‘Indirect Tax Laws by CA Vineet Sodhani and CA Deepshikha Sodhani’ and made up AIR-8, CA Final).
Mr. VINEET : First of all, congratulations Ankit. You have made us and your family members/friends proud.
Mr. ANKIT : Thanks Sir. In fact, I should also congratulate you, though belatedly, for your CA Final Rank 1 in Nov. 2006 and also for your remarkable book.
Mr. VINEET : Thanks Ankit. Let us come direct to the purpose of this conversation. Our aim is to present your story before the readers, so that same may act as an inspiration and motivation for the students at large. Ankit, tell us something about your schooling and college life.
Mr. ANKIT : Sir, I did my schooling from Mahaveer Public School, Jaipur and was the topper, all streams in Class 11th and 12th. I did graduation from Commerce College, Jaipur (73.61%) and Masters (M.Com.) from Department of ABST.
Mr. VINEET : Was Chartered Accountancy your aim, when you opted for commerce stream in Class 11 ?
Mr. ANKIT : Yes Sir, as you rightly inferred, while opting for commerce after Class 10, I was very much focused about pursuing CA.
Mr. VINEET : Tell us something about your family ?
Mr. ANKIT : Sir, my father, Dr. Anil Mehta, is a senior Professor in University of Rajasthan (Deptt. of Business Administration) and my mother is a homemaker. My sister is a research scholar pursuing her Ph.D.
Mr. VINEET : So, you come from a family of intellectuals ! What do you say of thousands of aspirants (including me) coming from a normal family ?
Mr. ANKIT : Yes sir, my family is always a source of inspiration and motivation for me. I have lot many friends who have succeeded despite having a normal family background. Its one’s own determination and focus that matters. A good family background is always an added advantage but a normal family background can never be an excuse !
Mr. VINEET : Your analysis, on this aspect, is great. You scored 91.4% in Class 12 and had a chance to pursue graduation from SRCC, New Delhi. Why didn’t you join SRCC ?
Mr. ANKIT : I got my admission to SRCC in 2010. Hence, I had the option to go for SRCC or to pursue CA. So, at that time I decided that CA is always going to be a very good course as compared to B.Com from anywhere. Therefore, I remained at Jaipur only, to fulfil the dream of “CA”. Although people criticized my choice, but I stood committed and focused and my results, now, show that ‘my choice was not incorrect’.
Mr. VINEET : I agree. In today’s time, your choice (made in 2010) is always evaluated by your success or non-success (is future times viz. 2013). Though I, personally, have reservations about this approach, but, you can’t do anything to it. Ok, now tell us something about your journey in CA Course ?
Mr. ANKIT : In CPT, I got 84.5% and in IPCC, I secured 70.85% but missed my entry into the top 50 meritholders by just 4-5 marks. In fact, missing the rank in IPCC acted as the biggest motivator and I decided ‘now in Final, I need to get a rank’. The result is before you.
Mr. VINEET : I admire your determination. I, myself, have been of that nature. Tell us something about your studies of CA Final. How much did you score in Indirect Tax ?
Mr. ANKIT : Sir, I joined coaching for Financial Reporting, SFM, Direct Tax and ISCA. Rest all, I pursued at my own. Generally, I referred to Institute’s materials, Practice Manuals, RTPs, etc. For Indirect Tax, I referred your book as self-study material and no other material and scored 63 marks.
Mr. VINEET : For the benefits of our readers at large, please share your views regarding Indirect Taxes book authored by me ? Also share your preparation plan ?
Mr. ANKIT : Without being over-appreciative, I would honestly share my view that your book is more than sufficient for CA Final preparation. It is complete and exhaustive for self study. The presentation, the language and the explanations given in the book are remarkable. One can get a complete coverage of indirect tax laws after studying it. Sir, the best part is that you have given all questions, sections, illustrations, past year questions and case studies related to a particular topic at a single place : there is no need to refer to various materials.
For first time, I just studied the whole book like a Novel. On second revision, I studied entire book and marked/underlined important topics. For third time, I emphasized upon important topics, while taking a glance of entire book. At eve of examination, I just revised the highlighted portion.
Now, I have learnt that you have brought summary book since May 2015, as fourth module, for handy-revision. I had a chance to go through that summary module; it seems to be a substitute for students’ highlights/notes and I think I missed same very much.
Mr. VINEET : Tell us something about your articleship.
Mr. ANKIT : I pursued my articleship sincerely from Jaipur-based firms. I am of the view that books can only tell you the theory, but articleship is the platform wherein you practically apply the theory. It is the real interface for us with the corporate world.
Mr. VINEET : I also share the same views regarding articleship and regard the same as the foundation stone of Chartered Accountancy course. After getting AIR-8, you must have got many offers; why didn’t you join them ? What’s you future plan ?
Mr. ANKIT : Being a rankholder and placed at AIR-8, I was flooded with offers. I gave only four interviews. In campus interview, I was selected at Reliance and in off-campus interview, I was selected at Idea, Wipro and KPMG; but, I didn’t join anywhere. Presently, I am preparing for CAT 2015 and aim at doing MBA from prestigious IIM’s. In the long run, my dream is to join the civil services.
Mr. VINEET : Please share some study/exam tips for our readers.
Mr. ANKIT : Though tips are shared everywhere and social media is full of such tips; however, I would summarize my viewpoints as follows :
- Be focused and dedicated : one can crack any exam when one is fully involved in it.
- Don’t forget to refer ICAI modules, practice manuals, RTP, etc.
- Keep yourself upto-date always.
Rest all points are already covered in my earlier conversation.
Mr. VINEET : What is your message to our readers and students at large ?
Mr. ANKIT : CA is not just clearing exams. The society expects a lot from us, being professionals. In order to meet their expectations, one has to keep himself updated in all the spheres. Hence, my message is to be always updated by reading CA journal, ET, Hindu, business today, etc. and watching business/news channels.
Mr. VINEET : Thanks Ankit for your time. Your story would definitely inspire our readers and students at large. It was nice having a chat with you. We wish you a best of luck for the future and hope that you will come out with flying colours in every walk of your life.
Mr. ANKIT : Thanks Sir.
— Mr. Ankit can be reached at firstname.lastname@example.org.