CA Final DIRECT TAX LAWS & INTERNATIONAL TAXATION For May 2020 BY TN MANOHARAN

Concise presentation of the provisions of the Income-tax Act as amended by the Finance Act, 2019 Relevant for students pursuing academic and professional cours The concept of tax planning and General Anti Avoidance Rules (GAAR) with reference to various sources of income are specifically dealt with

Important provisions of International Taxation, namely, Transfer Pricing, DTAA, Equalisation levy, Model Tax Conventions, Application and Interpretation of Tax Treaties and fundamentals of Base Erosion and Profit Shifting (BEPS) are elucidated

Income Computation and Disclosure Standards (lCDS) dealt in

Updated Rules, important circulars and case law as reported up to April are Amendments made to Income-tax Act by the Finance Act, 2019, though incorporated at appropriate Places are given separately in Appendix-I so as to enable effective revision by the students.

Answers to the select questions of past 17 examinations of CA Final – Direct tax Laws and International Taxation are regrouped and given at the end of each chapt

Easy approach to learn the principles relating to computation of taxable income under each head of income together with suitable formats prescribed Apt illustrations, case studies and exercises provided

Preliminary

Basis of Charge

Incomes which do not form part of Total Income

Taxation of Trusts

Computation of Total Income

Salaries

Income from House Properly

Profits and Gains of Business or Profession

Capital Gains

Income from Other Sources

Income of Other Persons, Included in Assessee’s Total Income

Aggregation of Income and Set Off or Carry Forward of Loss

Deductions to be made in Computing Total Income

Rebates and Relief

Heads of Income At a glance

Income computation and disclosure standards

Basic provisions applicable to companies

Minhnlul1 alternate tax

Tax on distributed profits by certain entities

Special provisions relating to income of shipping Company

Income Tax Authorities

Procedure for Assessment

Liability in special cases

Special provision applicable to firms

Special provisions relating to certain persons other than a company

Deduction and Collection of Tax

Advance Tax, Recovery and Refunds

Settlement of Cases

Appeals and Revisions

Requirement as to mode of acceptance payment or Repayment in certain cases to Counteract evasion of tax

Penalties Imposable

Offences and Prosecution

Miscellaneous

Tax Management & GAAR

Taxation of Non Residents

Transfer Pricing & other anti avoidance measures

Advance Rulings

Double Taxation Relief

Equalisation Levy

Overview of Model Tax Convention

Application and Interpretation of Tax Treaties

Base Erosion and Profit Shifting

Procedural Law – Important Expressions

T.N.Manoharan, a fellow member of the Institute of Chartered Accountants of India (ICAI), is a post graduate in commerce and a law graduate from Madras University. He is a rank holder in C.A. Intermediate Examination. He was a member of the Council of ICAI for 6 years since 2001 and held the position as its President during 2006-07.He was a visiting faculty on the subject of Taxation at SIRC of ICAI. He was also a visiting faculty of few professional and management institutions. The author has presented papers in seminars and conference organized by various forums in the country and in international forums in abroad.He has authored various books such as Real Estate Transactions Tax Implications” an ICAI Publication, Depreciation and Losses under I.T. and Company Law”, a Bombay Chartered Accountants Society Publication and “Immovable Property Transaction and Income-tax Implications”, an Andhra Pradesh Tax Bar Association Publication. He is also a co-author of the book on “Settlement Commission and Authority for Advance Rulings”. He has also authored the text book titled “Direct – Tax Laws for C.A.Final and other professional courses.Mr. Manoharan was a member of the International Accounting Education Standards Board of the International Federation of Accountants. He was the Chairman of the committee on Education and center of Excellence of South Asian Federation of Accountants (SAFA). Mr. Manoharan is Awarded “Padma Shri by the President of India.

Mr. G. R. Hari

Mr. G. R. Hari is a Fellow Member of the Institute of Chartered Accountants of India (ICAI) and a Commerce graduate from the University of Madras. He is a faculty in Loyola Institute of Business Administration (LIBA), Chennai for their Post Graduate course in Business Management Studies and corporate training programmes. He is in practice of the Chartered Accountancy profession for the past 12 years. He has presented papers in Educational Institutions and Professional forums on technical subjects