CA Final Direct Tax By T. N. Manoharan Nov 26 Exam

CA Final Direct Tax T. N. Manoharan Nov 26

CA Final Direct Tax T. N. Manoharan Nov 26

Description

This Forty Seventh Edition is dedicated to the enduring legacy of CA T.N. Manoharan. A Padma Shri awardee, former President of the ICAI and a visionary leader of the profession, Shri T.N. Manoharan’s contribution to the world of taxation and his commitment to the student community remain the cornerstone of this work. His presence continues to be felt through the clarity and conceptual depth he instilled in this book over decades. As we carry his mission forward, this edition remains committed to the high standards of excellence and student-centric learning that he always championed.

The subject “Direct Tax Laws and International Taxation” appears to pose difficulty to the student community as the questions framed in the professional examinations not only expect the students to acquire ability to analyse but also to interpret the provisions of direct tax laws and recommend solutions to practical problems. In order to achieve this objective, a student is expected to assimilate, apart from understanding the contents of the provisions, important decisions rendered by the Courts and clarifications issued through circulars and notifications. With a view to make this task easier, an endeavour has been made in this book, to simplify, condense and present these matters in a cogent and logical fashion.

On reading this book, a student should be able to navigate through the entire gamut of the syllabus within a reasonable time frame without omitting any important point in any chapter. Reading voluminous portions create mental fatigue. So is the case when a student is compelled to go through numerous case law on the subject. Certain points and case law relating to some of the provisions of the Income-tax Act are required only for professionals and not so relevant for students. Care has been taken to omit such points and case and equal care has been taken to include all the important and currently relevant points from the examination perspective. Similarly, portions on International Taxation, namely, BEPS, DTAA, etc., and Black Money Law have been dealt with in a concise manner for the better understanding.

Ms. Sandhyaarti T, FCA, Ms. Jeevaganga R, ACA, Mr. Sankaranarayanan R, ACA, CA. Shobika B, CA. Aro Jobin V and CA. Akashmoorthy S have assisted us and put in tremendous efforts to edit the contents of this book. We also thank, Ms. Richa Bakiwala, ACA who meticulously served as an editor for the International Taxation portion. These panel of editors have been instrumental in making value addition to the book for which the authors express sincere thanks.

The publisher M/s. Snow White Publications Pvt. Ltd., Mumbai has done an excellent job in bringing out this edition in a timely manner. The professional approach and qualitative effort of the publisher in publishing this book should enable the students to enjoy reading the book and comprehend the subject without much strain or stress.

The book in the present form has been possible, thanks to the continuous feedback received from faculties, students and other users of the book. The authors welcome further valuable suggestions from Faculties, Professionals and Students for the improvement of the quality of the book.

The authors recommend the students to learn the subject by taking hints/notes from the book, solving illustrations, exercises and case studies repeatedly and finally revise by working out past examination questions. We wish every student all the very best in the endeavor to qualify as a Chartered Accountant and be bestowed with a bright future.

About The Books

• Concise presentation of the provisions of the Income-tax Law as amended by the Finance Act, 2025 ( Assessment Year 2026-27 ) relevant for students pursuing academic and professional courses.
• The concept of tax planning and General Anti Avoidance Rules (GAAR) with reference to various sources of income are specifically dealt with.
• Key provisions of Black Money Law have been included.
• Important provisions of International Taxation, namely, Transfer Pricing, DTAA, Model Tax conventions, Application and Interpretation of Tax Treaties and fundamentals of Base Erosion and Profit Shifting (BEPS) are elucidated.
• Updated Rules, important circulars and case law as reported up to October 2025 are cited. Recent and important amendments made to Income-tax Act though incorporated at appropriate places are given separately in Appendix so as to enable effective revision by the students.
• Answers to the select questions of past 20 examinations of CA Final- Direct tax Laws and International Taxation are suitably modified regrouped and given at the end of each chapter.

Content of the Books –

Volume I

1. Syllabus for CA Final Direct Tax Laws and International Taxation
2. Syllabus for CS Professional Programme
3. Syllabus for CMA Final
4. Arrangement of Sections
5. Analysis of Past CA – Final Exam Papers
6. Recent and Important Amendments
7. Recent and Select Case Law
8. Suggested Answers for CA Final, January, 2026 Exam
9. Suggested Answers for CA Final, May 2026 Exam

Part I – Direct Tax

1. Preliminary
2. Basis of Charge
3. Incomes which do not form part of Total Income
4. Computation of Total Income
5. Salaries
6. Income from House Propertv
7. Profits and Gains of Business or Profession
8. Capital Gains
9. Income from Other Sources
10. Income of Other Persons, Included in Assessee’s Total Income
11. Aggregation of Income and Set Off or Carry Forward of Loss
12. Deductions to be made in Computing Total Income
13. Rebates and Reliefs
14. Heads of Income at a glance
15. Income computation and disclosure standards (ICDS )
16. Basic provisions applicable to companies
17. Minimum Alternate Tax
18. Tax on distributed profits by certain entities
19. Special provisions relating to income of shipping companies
20. Special provisions relating to certain persons other than A Company- 115JC
21. Default Tax Regime – Tax on Income of Certain Assessees
22. ATR – Tax on Income of Certain Resident Co-operative societies
23. Income Tax Authorities

Volume II

1. Filing of Return of Income
2. Procedure for Assessment
3. Search & Seizure and Survey
4. Special Procedure for Assessment of Search Cases
5. Liability in special cases
6. Special Provisions applicable to Firms
7. Taxation of Trusts
8. Deduction & Collection of tax at Source
9. Advance Tax, Recovery and Refunds
10. Dispute Resolution Committee
11. Appeals and Revisions
12. Requirement as to mode of acceptance, Payment or Repayment in certain cases to Counteract evasion of tax
13. Miscellaneous

Part II – International Taxation

1. Taxation of Non-Residents
2. Transfer Pricing
3. Certain Provisions in Respect of International Group & Avoidance of Tax
4. Advance Rulings
5. Double Taxation Relief
6. Overview of Model Tax Conventions
7. Application and Interpretation of Tax Treaties
8. Base Erosion and Profit Shifting
9. Procedural Law- Important Expressions

Part III – Provisions to Counteract Unethical Tax Practices

1. Penalties imposable
2. Offences and prosecutions
3. Tax Management & GAAR
4. Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

About the Author

CA Hari was a faculty on the subject Taxation for CA Intermediate course at K. S. Academy, Chennai, besides a faculty member at Loyola Institute of Business Administration (LIBA) for their Management Studies and corporate training programmes. He is also a resource person at the Direct Taxes Regional Training Institute (DTRTI), Bangalore and Chennai for training programmes of the Income-tax Department. The Author is nominated as Member of the Board of Studies in Commerce and Allied Degree Courses (UG) of University of Madras, besides other colleges. He is an editorial team member of the book titled ‘Indian Family Business Mantras’, an international publication. He has also co-authored the text book titled ‘Students’ Handbook on Taxation’ meant for B.com and CA Intermediate Course and co-authored the commentary on “Law and Procedure on Charitable Trusts and Religious Institutions”.

Sahini Manoharan is an Associate Member of the ICAI and a Commerce Graduate from the Ethiraj College for Women, Chennai. She is a practising Chartered Accountant specialising in Direct Taxation. She continues to remain academically engaged with her alma mater and has delivered guest lectures to students of the institution on direct taxation. CA Sahini is also associated as an editorial member for few tax research publications.