Taxmann CA Final Class Notes on Direct Tax Laws and International Taxation New Syllabus By CA Rahul Agarwal Applicable for May / November 2022 Exam

This book is a one-stop solution to conquer the vast subject of Direct Taxation with ease. The objective behind this book is to minimize the need to consult multiple voluminous books while revising the day before the exam.

This book aims at providing all concepts in a simple language, with proper linking and a smart sequential approach. It also explains the provision of the law without resorting to paraphrasing of sections or legal jargons.

The Present Publication is the 3^rd Edition (For New Syllabus) & Updated till 31^st October 2021, authored by CA V. Rahul Agarwal, with the following noteworthy features:

• Strictly as per the New Syllabus of ICAI
• [Pictorial Presentation/Charts with Handwritten Fonts] are used in the book for easy understanding of theoretical concepts
• [Multi-Colour Coded Book] which follows the below structure:
• Blue – Heading
• Black – Main Content
• Red – Summarised version of the main content
• Green – Amendments applicable for the examination
• Yellow Highlights – Key adjustments to be highly cautious of; ‘The Accident-Prone Zones’
• Blue Boxes – Significant selected Case Laws provided by ICAI
• Green Boxes – Authors personal notes for better understanding and clarity
• [Proper Linking & Smart Sequential Approach] has been followed throughout the book so that it can act as a reference material the day before the exam.

The contents of the book are as follows:

Summary of Special Adjustments

Part A – Direct Taxation

• Basics of Income Tax
• Rates of Tax
• Special Tax Regime
• Taxation of Agriculture Income
• Income from Salary
• Income from House Property
• Profits and Gains of Business or Profession
• Income Computation & Disclosure Standards
• Capital Gains
• Taxation of Business Re-Organisations
• Taxation of Distribution to Owners
• Income from Other Sources
• Taxation of Dividends & Income from Units
• Bonus Stripping & Bond Washing Transactions
• Assessment of Firms & LLP
• Assessment of AOP & BOI
• Assessment of Non-Profit Organization
• Tax on Accreted Income of NPO [Exit Tax]
• Assessment of Business Trust
• Assessment of Securitisation Trust
• Assessment of Alternative Investment Fund
• Assessment of Political Party & Electoral Trust
• Assessment of Other Persons
• Taxation of Unexplained Income
• Clubbing of Income
• Set-Off and Carry Forward of Losses
• Income which do not form part of Total Income
• Expenditure in Relation to Exempt Income [Section 14A]
• Chapter VI-A Deduction
• Tax Holiday for SEZ [Section 10AA]
• Minimum Alternate Tax [Section 115JB]
• Alternate Minimum Tax [Section 115JC]
• TDS & TCS
• Payment of Taxes
• Return Filing & Related Provisions
• Assessment Procedure
• Appeals & Revisions
• Settlement Commission
• Tax Planning, Avoidance & Evasion
• Penalties, Offence & Prosecution
• Modes of Loan, Deposit, Advance & Transactions
• Liability in Special Cases
• Tonnage Tax
• Statement of Financial Transactions (SFT)
• Miscellaneous Provisions

Part B – International Taxation

• Transfer Pricing & Related Provisions
• Residential Status & Scope of Total Income
• Non-Resident Taxation
• Special Provisions for Non-Resident Indian (NRI)
• Taxation of Foreign Currency Bonds & GDR
• Double Taxation Relief
• Advance Rulings
• Equalisation Levy
• Overview of Model Tax Conventions
• Application and Interpretation of Tax Treaties
• Fundamentals of BEPS

About the author

Rahul Agarwal is an associate member of the Institute of Chartered Accountants of India who qualified for this course at the young age of 21 with an exemption in Direct Taxation. He also holds a Bachelor in Commerce (Accounting & Finance) from IGNOU University. He is currently working in Corporate and International Taxation for over four years in the world’s leading Big 4.

To further enhance his knowledge base and deliver better, Rahul is also currently pursuing his CS Professional from ICSI, Diploma in International Taxation from ICAI and Masters in Commerce (Finance & Taxation) from IGNOU University,

Class Notes and Problems and Solution on Direct Tax Laws & International Taxation published by Taxmann, New Delhi, is an idea pursued by him from his articleship times with a simple objective of helping his fellow budding members to understand the subject with ease and equip themselves to face the market post qualification.