CA FINAL - Direct Tax - May 2022 & Nov 2022 – Ajnext Online
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Professor Aarish Khan

CA FINAL – Direct Tax – May 2022 & Nov 2022
Courses

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CA Aarish Khan started his professional teaching career in 2012. He was all India highest in
Taxation Paper in CA Final Exams. In his teaching career of last 8 years he has taught plethora
of subjects as mentioned below:
Direct Tax at CA Final & Inter.
International Taxation – Elective Paper.
Indirect Taxes at CA Inter & CA Final.
Financial Management at CA Inter.
Mathematics (CA Foundation).
Even though he has taught all the above subjects at different intervals ,when it comes to his core subjects – its Direct Tax – Paper 7 & International Taxation- Paper 6C at CA Final Level. He is associated with Anuj sir since last 8 years . He started his career in 2012 with Professional Academy, which later on was taken over by CA Anuj Jalota in 2015. In the meanwhile he was also associated with ETEN CA (an online learning portal) for 2 years whereby his lectures used to run in more than 70 centres across India. At present he teaches more than 1000 students LIVE in Mumbai.
Further his virtual and pen drive lectures are also available out of Mumbai for those who do not stay in Mumbai. His method of teaching is unique whereby he makes a student understand the logics of the provisions rather than just mugging the provisions, as he believes in a quote “ If you know why, then you know how”. Further he provides a detailed coloured summary book along with Comprehensive Revision Videos for last day revision which students across India have given heartwarming appreciation. Last but not least he is always available for his students to clear their doubts, as Direct Tax is one of the subjects where doubts always arise while studying the subject.

Paper 7 at the Final CA level is Direct Tax Laws & International Taxation: As the name suggests:
Part A is Direct Tax Laws & Part B is International Taxation. This is a perfect example of letting students experience new concepts and giving them a flavour of being a global profession by including International Taxation in their curriculum for just 30 marks, thus making it significantly relevant and also not diluting the importance of Direct Tax Laws which is applicable upfront to any Indian CA.
Further, if a student wishes to specialize in International Tax they may choose to do so in Paper 6C- Elective Paper where there is a dedicated paper available on International Taxation.
PART A IS DIRECT TAX LAWS:
The courseware has been designed to inculcate the latest tax amendments as per the applicable Finance Act for the two attempts in May & November of the year respectively. Central Board of Direct Taxes (CBDT) is the regulatory body for collection and management of Direct taxes in India, they are responsible for implementing the provisions of the Income Tax Act 1961 and to provide clarification regarding interpretations of the laws/amendments from time to time.
There are other decisions/judgements which are given by various courts regarding Direct tax matters interpreting the provisions of tax laws. The students are expected to refer the content for this, subject to the amendments in the provisions as suggested by the Finance Act of the applicable-year and also refer the significant notifications and circulars issued till 30th April / 31st October for November/May Attempt respectively.
The Direct Tax Laws subject includes the overall applicability of specific laws, Interpretations of Laws, Compliance mechanisms and mandates as per the act, and also tax planning and assessment procedure and the various alternatives available to the assessee’s and also the authorities to ensure legitimate tax collection and also prosecution in case of any deviation or non- compliance from the laws. To sum it all up it would mean to experience, discuss the practical problems that the authority or the assessee’s face and the remedial measures available to the concerned parties.
PART B: INTERNATIONAL TAX:
Chartered Accountancy is a globally recognised degree issued by the ICAI, it had to give a flavour of an international professional. What better for a CA to know that the applicable tax laws at international waters, which significantly includes:
The Double Taxation Avoidance Agreements (DTAA)
Applicability of Tax Rules to Non-Residents
Transfer Pricing Including Anti Avoidance Measures
Model Tax Conventions (Overview)
Applicability & Interpretation of the Tax Treaties
Equalisation Levy
Lastly, Base Erosion & Profit Shifting
If the above topics are given a close consideration it is obvious that the Institute of Chartered Accountants of India (ICAI) wants that the India CA should have a global exposure with expertise in internationally applicable tax laws, treaties, Transfer Pricing. Given the depth of coverage even in Paper 7 it truly makes CA a profession with International expertise, which makes it a natural choice over multiple options of professional courses available. The dynamism with which the ICAI is updating the content and bringing up radical changes in the syllabus, it is not too long before Indian CAs will enjoy global authority in the advisory & reporting domain.

INDEX OF BOOK 1

Ch. o.Chapter Name
1Charging Section
2Depreciation
3Specific Deductions
4Sector-wise Deductions
5General Deduction
6Disallowances
7Recovery of Expenditure & Remission and Cessation of Trading Liability
8Miscellaneous Issues
9Presumptive Income (other than Non-Resident)
10Taxation of Various Entities (other than

 MAT/AMT/ Trust)

11Filing of Return of Income
12Assessment Procedures
13Income Escaping Assessment
14Time Limit for Completion of Assessment and Reassessment
15Miscellaneous Provisions
16Income Tax Authorities & their powers
17Appeals and revision
18Search & Seizure
19Assessment in course of Search & Seizure
20Taxation of Trust
21Minimum Alternate Tax
22Alternate Minimum Tax
23Penalties & Prosecution
24Clubbing of Income (To be done by students)
25Taxation of Investment Fund
26Taxation of Securitisation Trust
27Past Questions for Practice (Most Important Topic)

INDEX OF BOOK 2

CH.NOCHAPTER
28Advance Tax
29Interest u/s 234A/234B/234C/234D
30Bonus/ Dividend Stripping
31Capital Gains- Basic Concepts
32Capital Gains – Chargeability
3350C
34Slump Sale
35Not Taxable Transfers
36Conversion of Sole Proprietor/Firm in to Company
37Conversion of Company into LLP    
38Conversion of Stock Exchange in to Company
39Forfeiture of Advance Money
40Reverse Mortgage
41Capital Gains exempt u/s 10 & sec 111A & 112A 
42Exemptions u/s 54 TO 54GB
43Buy Back of Shares
44Taxation of Non-Residents and Foreign Companies (IT)
45Double Taxation Avoidance Agreements (DTAA) (IT)
46Transfer Pricing (IT)
47Vodafone Case (IT)
48GAAR/ MAT with IND AS/ Foreign Tax Credit {To be seen from Youtube} {SEE QR CODE BELOW} (IT)
49Deductions under CH VIA
50Taxation of Accreted Income
51Overview of Model Tax Conventions (IT)
52Application & Interpretation of Tax Treaties (IT)
53Fundamentals of Base Erosion & Profit Shifting (IT)
54Alternative Tax Regimes
55E-Assessment
56Equalisation Levy
57Taxation of Segregated Portfolio/Side Pocketing
58Tax Rates
59List of Important Sections
60Past Question along with exhaustive questions on Finance Act 2020 Amendments (Very Important)

 

INDEX of Summary

Sr No.                                             Name of Chapter
1Charging Section
2Depreciation
3Specific Deductions
4Sectorwise Deduction
5General Deductions
6Disallowances
7Deemed Incomes
8Miscellaneous Issues
9Presumptive Incomes
10Interlinking of PGBP
11Taxation of Various Entities
12Filing of Return
13Assessment Procedure
14Income Escaping Assessment
15Rectification of Apparent Mistakes
16Income Tax Authorities & their Powers
17Appeals & Revisions
18Search & Seizure
19Search & Seizure Assessment
20Important Time Limits
21Taxation of Trust
22Profit Linked Deductions
23Minimum Alternate Tax
24Alternate Minimum Tax
25Penalties
26Settlement Commission
27Set off & Carry Forward of Losses
28Taxation of Investment Fund
29Taxation of Securitisation Trust
30Dividend & Bonus Stripping
31TDS/TCS
32Advance Tax
33Capital Gains – Basic Concepts
34Capital Gains – Chargeability
35Deemed FVC
36Slump Sale
37Non Taxable Transfer
38Conversion of Sole Proprietor in to Firm
39Conversion of Unlisted/Private Company in to LLP
40Conversion of Stock Exchange in to Company
41Forfeiture of Advance Money
42Exemptions u/s 10 & 111A & 112A
43Exemptions u/s 54 to 54GB
44Capital Gains in case of Transfer of Block
45Taxation of Demerger
46Taxation of Cooperative Banks
47Taxation of ESOP
48Taxation of Buy back of Shares
49Taxation of Dividends
50Taxation of Gifts
51Deductions u/s 10AA
52Taxation of Mutual Funds
53Business Trust
54Non Resident Taxation
55Double Taxation Avoidance Agreements
56Transfer Pricing
57Vodafone Case Law
58Board of Ruling
59Overview of Model Tax Convention
60Application & Interpretation of Tax Treaties
61Base Erosion and Profit Shifting
62Miscellaneous Amendments
63Tonnage Taxation
64Taxation of Segregated Portfolio/ Side Pocketing

 

1. TWO Detailed Text Book.
2. ONE Coloured Summary for Last Day Revision.
3. ONE Question Bank for Practice.
4. ONE Case Laws & MCQ Book.

WINDOWS LAPTOP only (Desktop / Macbook / Chromebook does not work)

Windows 7 and Above

2 GB Ram or more

Intel Processor i3 / Pentium and above OR AMD processor

Graphics Card

Students will install the software provided. For any technical problem, call 7061116111.

 

Lectures can be availed even through AJ NEXT app (Android or IOS). You should have Android 8 and above or IOS 10 and above. Once you select a option, we cannot change it.

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Frequently Asked Questions

This Batch is applicable for May 2022 & Nov 2022.

The batch is of around 240 hours. 80 Lectures of 3 hours each. HIGHEST IN MUMBAI

A student will be given 5 Books in the class. 2 Textbooks of 1200 pages for detailed analysis of the subject. Further A COLOURED SUMMARY BOOK will be given for last day revision. Rest of the books are mentioned in next questions.

Yes more than 200 Case Laws covering each and every Case Law from ICAI Material will be covered. NOT EVEN A SINGLE CASE LAW WILL BE LEFT.

Don’t worry more than 250 questions from ICAI study material will be covered in class itself which is highest in INDIA 🇮🇳. Further a student will be given a Question Bank covering all Questions of ICAI Material for further practice. Further MCQ’s will also be provided to students.

Yes don’t worry once again. The entire subject can be revised in 12-13 hours from our youtube revision videos. Our revision videos are appreciated by thousands of students across INDIA 🇮🇳 as most comprehensive revisions. See AJ Next Youtube Channel. Mentioning some of the revision videos in the below mentioned link: Revision Part - 1: https://youtu.be/E3yf79fixAA Revision Part - 2: https://youtu.be/713Lqpdm68I Revision Part - 3: https://youtu.be/dcyogqSysCc Total of 11 Parts are there.

First of all entire batch is updated as per your attempt. Still if any amendments are inserted by ICAI , it will be put on youtube and telegram at free of cost. You can watch the demo of amendments as follows: https://youtu.be/lLV48CwOUgQ

Yes in the class itself questions from past papers will be solved.

Don’t worry. Whenever ICAI will put the RTP for your attempt. Sir will give a lecture on the same. You can watch the demo of RTP discussion as follows: https://youtu.be/9a-2ca7zYlE

Yes absolutely on AJ NeXt Youtube Channel. You can watch a demo of doubt solving as follows: https://youtu.be/fjREjFNKbbA

Sir will make a video on the same 1 month before exams and give it to the student. You can watch a demo on the same as follows: https://youtu.be/fLH0smEdDgc

A student can put a telegram message on id @ajnext. We shall reply at an earliest

  • Course:
    CA FINAL
  • Course Type:
    Regular Course
  • Attempt:
    May 2022
    Nov 2022
  • Number of Total Hours:
    240
  • Number of Lectures:
    80
  • Validity:
    6 Months
  • Number of Views:
    1.5
  • Subjects:
    Paper 7 - Direct Tax Laws and International Taxation
  • Language:
    English / Hindi
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