Direct Tax Laws & International Taxation

Direct Tax Laws and International Taxation

CMA Final - Paper 16 : Direct Tax Laws and International Taxation

ICMAI has introduced this paper Direct Tax Laws and International Taxation at the CMA Final level so that you gain knowledge on Tax planning, assessment of tax for various assesses and return filing procedures 

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More about Direct Tax Laws and International Taxation

What is “Direct Tax Laws & International Taxation”? 
  • Taxation is the system by which a government finances its expenditure by charging compulsory levies on individuals or business entities. These compulsory levies are known as taxes 
  • Direct taxes are those taxes paid directly by an individual or business entity to the Government 
  • International Taxation deals with Tax provisions which affect MNCs, cross border transactions, export and import  
Why has ICMAI introduced this paper, Direct Tax Laws & International Taxation, at the CMA Final level? 
  • In this paper, you will gain knowledge on Tax planning, assessment of tax for various assesses and return filing procedures 
  • The case laws and core provisions of the Act helps in handling the cases and issues regarding taxation conflicts 
  • Your main goal as a CMA is profitability analysis and budget preparation. To do this effectively, you need to understand all expenses of the company. Hence you must gain an understanding of the framework under which an individual or a business entity is taxed 
  • You need to understand the impact of taxes on Net Income at an advanced level 
What are the topics covered in Direct Tax laws & International Taxation at the CMA Final Level? 
  • You will be learning on Assessment of Income, Tax management for all entities at an advanced level 
  • Provisions on CBDT & various Authorities can be learnt understanding the penalties and prosecutions 
  • Income Computation & Disclosure Standards and Case laws plays key role in the syllabus 
  • International Taxation is clearly discussed, and Business Restructuring and Advance Ruling shall stand as new concepts learnt at Final Level 

 

What is the best approach to study Direct Tax laws & International Taxation paper? 
  • Analyse and understand the provisions under the act by looking at practical applications. Do not memorise; place greater emphasis on understanding concepts 
  • Go through past papers to get an idea of the kind of questions that will be asked in the paper 
  • Do not study just for the sake of passing. You need to know the concepts well to succeed in your professional career 
  • Provisions and methods of assessment under the Income Tax Act, 1961, keep changing. As such ICMAI keeps updating the syllabus to reflect these changes. So, you must be aware of the new changes  
See how CA Justin Raj, CA Jose Kurian and Prof. Subbaraman P teach this paper Direct Tax laws and International TaxationSign up to get a free trial!
Course Content Available
 
Faculty Estimated Lectures Lectures Available in the Portal
CA Justin Raj 90 6
CA Jose Kurian 14
Prof. Subbaraman P 6
Available Lectures for Direct Tax Laws and International Taxation
 
Paper 16: Direct Tax Laws and International Taxation
Chapter  No. of Lectures
Series 1
Section A: Advance Direct Tax Laws
Study Note 1: Assessment of Various 
Entities
1
Study Note 2: Non Resident 5
Study Note 3 : Return of Income 3
Study Note 4 : Assessment Procedure 3
Study Note 5: Interest 1
Study Note 6: Survey, Search And Seizure  1
Study Note 7 : Collection, Recovery & Refund 1
Study Note 8 : Appeals, Rectification, Revision, Settlement Commission 1
Study Note 10 : Penalties and Prosecution 1
Study Note 14 : Liability in Special Cases 1
Series 1:
Section B: International Taxation
Study Note 17: International Taxation 9