CA FINAL – Direct Tax – May 2022 & Nov 2022


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 a 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 for the 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 logic 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 in 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.
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 the collection and management of Direct taxes in India, they are responsible for implementing the provisions of the Income Tax Act 1961 and providing 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 to 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.
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 than 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 close consideration it is obvious that the Institute of Chartered Accountants of India (ICAI) wants that the India CA should have 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. With 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.


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

 MAT/AMT/ Trust)

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


28 Advance Tax
29 Interest u/s 234A/234B/234C/234D
30 Bonus/ Dividend Stripping
31 Capital Gains- Basic Concepts
32 Capital Gains – Chargeability
33 50C
34 Slump Sale
35 Not Taxable Transfers
36 Conversion of Sole Proprietor/Firm in to Company
37 Conversion of Company into LLP    
38 Conversion of Stock Exchange into Company
39 Forfeiture of Advance Money
40 Reverse Mortgage
41 Capital Gains exempt u/s 10 & sec 111A & 112A 
42 Exemptions u/s 54 TO 54GB
43 Buy-Back of Shares
44 Taxation of Non-Residents and Foreign Companies (IT)
45 Double Taxation Avoidance Agreements (DTAA) (IT)
46 Transfer Pricing (IT)
47 Vodafone Case (IT)
48 GAAR/ MAT with IND AS/ Foreign Tax Credit {To be seen from Youtube} {SEE QR CODE BELOW} (IT)
49 Deductions under CH VIA
50 Taxation of Accreted Income
51 Overview of Model Tax Conventions (IT)
52 Application & Interpretation of Tax Treaties (IT)
53 Fundamentals of Base Erosion & Profit Shifting (IT)
54 Alternative Tax Regimes
55 E-Assessment
56 Equalisation Levy
57 Taxation of Segregated Portfolio/Side Pocketing
58 Tax Rates
59 List of Important Sections
60 Past Question along with exhaustive questions on Finance Act 2020 Amendments (Very Important)


INDEX of Summary

Sr No.                                              Name of Chapter
1 Charging Section
2 Depreciation
3 Specific Deductions
4 Sectorwise Deduction
5 General Deductions
6 Disallowances
7 Deemed Incomes
8 Miscellaneous Issues
9 Presumptive Incomes
10 Interlinking of PGBP
11 Taxation of Various Entities
12 Filing of Return
13 Assessment Procedure
14 Income Escaping Assessment
15 Rectification of Apparent Mistakes
16 Income Tax Authorities & their Powers
17 Appeals & Revisions
18 Search & Seizure
19 Search & Seizure Assessment
20 Important Time Limits
21 Taxation of Trust
22 Profit Linked Deductions
23 Minimum Alternate Tax
24 Alternate Minimum Tax
25 Penalties
26 Settlement Commission
27 Set-off & Carry Forward of Losses
28 Taxation of Investment Fund
29 Taxation of Securitisation Trust
30 Dividend & Bonus Stripping
32 Advance Tax
33 Capital Gains – Basic Concepts
34 Capital Gains – Chargeability
35 Deemed FVC
36 Slump Sale
37 Non Taxable Transfer
38 Conversion of Sole Proprietor into Firm
39 Conversion of Unlisted/Private Company into LLP
40 Conversion of Stock Exchange into Company
41 Forfeiture of Advance Money
42 Exemptions u/s 10 & 111A & 112A
43 Exemptions u/s 54 to 54GB
44 Capital Gains in case of Transfer of Block
45 Taxation of Demerger
46 Taxation of Cooperative Banks
47 Taxation of ESOP
48 Taxation of Buyback of Shares
49 Taxation of Dividends
50 Taxation of Gifts
51 Deductions u/s 10AA
52 Taxation of Mutual Funds
53 Business Trust
54 Non-Resident Taxation
55 Double Taxation Avoidance Agreements
56 Transfer Pricing
57 Vodafone Case Law
58 Board of Ruling
59 Overview of Model Tax Convention
60 Application & Interpretation of Tax Treaties
61 Base Erosion and Profit Shifting
62 Miscellaneous Amendments
63 Tonnage Taxation
64 Taxation 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 though AJ NEXT app (Android or IOS). You should have Android 8 and above or IOS 10 and above. Once you select an option, we cannot change it.

  1. All pen drive products are meant for a single user. If it is found that a student is watching lectures in a group, it amounts to using the videos for commercial purposes. Such students are liable for action by AJ NEXT in the court of law and are a strict violation of our policy. Such lectures will be disabled with immediate effect without any refund and further, the concerned students will be liable for damages and penalty for using lectures for a commercial purpose.
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Frequently Asked Questions

For which all attempts Batch is applicable?
This Batch is applicable for May 2022 & Nov 2022.
What is the duration of the BATCH
The batch is of around 240 hours. 80 Lectures of 3 hours each. HIGHEST IN MUMBAI
What books will be given along with the Batch?
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.
Will all the Case Laws from ICAI Study Material be covered?
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.
How many practical Questions will be covered?
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.
Is there any technique for Revision of entire Subject in few hours?
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: Revision Part - 2: Revision Part - 3: Total of 11 Parts are there.
How amendments will be covered?
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:
Are past papers included in the Course?
Yes in the class itself questions from past papers will be solved.
Will the new RTP be taught?
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:
Will there be a Live Doubt Solving Session?
Yes absolutely on AJ NeXt Youtube Channel. You can watch a demo of doubt solving as follows:
Will we get a day before exam stratergy?
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:
How student can ask doubts if he/she doesn't attend live doubt solving
A student can put a telegram message on id @ajnext. We shall reply at an earliest
Course Detail
  • Course: CA FINAL
  • Course Type: Regular Course
  • Attempt: May 2022 Nov 2022
  • Number of Total Hours: 240
  • Number of Lectures: 80
  • Validity: 9 Months
  • Number of Views: 1.5 for Practical / 2 years for Case study / Lifetime for Updates
  • Subjects:
    Paper 7 - Direct Tax Laws and International Taxation
  • Language:
    English / Hindi / Marathi