Capsule Studies on Direct Tax Laws & International Taxation (A.Y. 2019-20)

Capsule Studies on Direct Tax Laws & International Taxation (A.Y. 2019-20)

PREFACE

Why the Capsule Book

This book is the need of the hour where:

• The provision has been logically explained and summarised to provide the reader the understanding about various facets of the provisions in crisp and precise manner.
• The provision is followed up with large number of problems, many of which have been customised to equip the reader with the various combinations with which a particular provision could be targeted in the exams.
• Contemporary areas like ICDS, Transfer Pricing, Non-resident & International Taxation, Ind AS Impact on MAT, GAAR have been duly supported with thought provoking self designed questions and answers to expose the students to its real life application. In recent past, ICAI has endeavoured to break the norms by setting up the students on the evolving areas in taxation for which students have no support either in any classroom coaching or in any reference materials.
• All amendments and notifications, applicable for A.Y. 2019-20, have been covered suitably both in its theoretical understandings as well as its practical implication. Some of the amendments of the Finance Act, 2018 are made in line with OECD BEPS Action plan for which I have provided the background understanding in “DS Comment” to enable the student to understand the “why” of the amendment.
• Decisions reported by the ICAI till February, 2019 have been suitably digested in the case-law segment in the manner and presentation required by the ICAI.
• New incorporation of additional topics on International Taxation making it relevant even for new course students.
• Appendix has been attached towards plethora of provisions relating to cash transactions, Real estate industry at one place so as to enable the student to revise these aspects at one place.
• This colourful edition shall enable the reader a soothing experience. Further, all amendments of Finance Act, 2018 and the recent notifications have been highlighted in red print so as to enable the reader to discern the amendment portion clearly.

Since the exams for May 2019 onwards will undergo a structural change of having 30 marks allotted towards MCQ based questions, I strongly feel that students should have a comprehensive understanding of the subject which is the very reason that endeavour has been made in this edition to cover all the areas as comprehensively as possible. We have attached sample MCQs in this book towards the end so that students get an idea of the type and level of questions that shall be targeted in the exams. Further, to foster more practice students can download the MCQs from www.bharatlaws.com.

For this edition, I have personally invested time on each topic to revise the content in order to address the expectation that the ICAI is intending from the students towards their preparation on the subject. But still I shall be failing in my duty not to express thanks to my support staff and students — Sunny Jain who has enabled to beautify the book by his creative brilliance; Suryadev & Aanchal to assist me real time to enable the book to come out in record time considering the intricacies involved in the booklet. Last but not least the Puliani brothers — Ravi Puliani and Mahesh Puliani and their team at Bharat Law House Pvt. Ltd. for extending the support and encouraging for such a complex work.

I shall recommend you all to subscribe to my you tube channel “Durgesh Singh Tax Classes” for any update applicable for your attempt.

The present edition is dedicated to Lord Shiva in whose spirit the search for truth marches on.

Heralding you to a bright and brilliant future. In the spirit of a great learning, here is to a great reading.

Cheers.

24th May, 2019.                                                   CA. Durgesh Singh

Mumbai.