rd
CA/CMA FINAL
DIRECT TAX
THE ULTIMATE SOLUTION
(May 2025 & Nov 2025)
(Amended as per FA 2024)
CA SHUBHAM SINGHAL
© [2024] [Shubham Singhal]. All rights reserved. No part of this publication may be
reproduced, distributed, or transmitted in any form or by any means, including photocopying,
recording, or other electronic or mechanical methods, without the prior written permission
of the Author, except in the case of brief quotations embodied in critical reviews and certain
other noncommercial uses permitted by copyright law.
Any legal disputes arising from this publication will be resolved under the jurisdiction of the
courts in Pune, India.
Mann ki baat
Haanji Doston, kya haal hai :)
6 months of dedicated hard work can give you this prestigious
degree of CA. 6 months is all it takes. And imagine, this book
is a result of 10 months of hard work to bring the best book in
the market. Just one notch better than the rest of the books.
I can assure you that I have given my 100% energy, time, heart
and soul to make this book useful for you. And you will fall in
love with this once you realise how much effort has been put
to summarise each and every section of your ICAI Module :)
This book is named “The Ultimate Solution” for a reason. I
understand the challenges you face while learning Direct Tax
i.e., Volume! And keeping that in mind, this book is an attempt
to summarise the whole ICAI module in least no. of pages
possible. This book is all you need to nail your exams. And when
I say nail, I mean bare minimum EXEMPTION.
I am aware that there is always a scope for improvement and
hence, I promise you that with time, this book will only get
better. Meanwhile, use this to ace your exams.
-The Ranker’s Way
With Love!
Your CA Buddy
Shortforms Used
Short Full Form Short Full Form
AIF Alternative Investment Fund PFI Public Financial Institution
AO Assessing officer PSR Profit Sharing Ratio
B/P Business or Profession RAY Relevant Assessment Year
BEL Basic Exemption Limit i.e., Maximum RDB Rupee Denominated Bond
amount which is not chargeable to IT
CG Central Government ROI Return of Income
CTT Commodity Transaction Tax RSE Recognised Stock Exchange
DSC Digital Signature SAF Superannuation Fund
EOM End of month SCN Show Cause Notice
ESI Employee State Insurance SDV Stamp Duty Value
FII Foreign Institutional Investors SFC State Financial corporation
FMV Fair Market Value SGB Sovereign Gold Bonds
FTS Fees for Technical Service SH Shareholder
GDR Global Depository Receipts SIIC State Industrial Investment
Corporation
HUF Hindu Undivided Family SIT Stock in trade
ICDS Income Computation Disclosure STCA Short term capital asset
Scheme
ITA Income Tax Authority STCG Short term capital Gain
ITO Income Tax officers STT Securities Transaction Tax
LTCA Long term capital asset TI Total income
LTCG Long term capital Gain TPO Transfer Pricing Oficer
MBJV money, bullion, jewellery, valuables TTBR Telegraphic Transfer Buying Rate
MF Mutual Fund TTSR Telegraphic Transfer Selling Rate
N.A. Not applicable UAD Unabsorbed Depreciation
NFAC National Faceless Assessment Centre ULIP unit linked insurance policy
NSC National Saving Certificate VC Venture capital
OCOB Ordinary Course of Business VCF Venture Capital Fund
OG Official Gazette VO Valuation Officer
PF Providend Fund w.r.t. With respect to
Chapter-wise Index and Weightage (as per ICAI)
SN Name of Chapter No. of Pages Weightage
1 Basic Concepts 10
2 Exempt Income -
3 Profits & Gains of B/P 50
4 Capital Gains 33
5 IFOS 11 20-23 marks
6 Clubbing of Income 3
7 Set-off or c/f of Losses 8
8 Deductions from GTI 12
9 Assessment of Various Entities 16
10 Assessment of Trusts, etc & Special Entities 19
11 Tax Planning, Avoidance & Evasion 7 20-22 marks
12 Taxation of Digital Transactions 7
13 Deduction, Collection and Recovery of tax 37
14 Income-tax Authorities 11
15 Assessment Procedure 31
16 Appeals and Revision 11 20-30 marks
17 Dispute Resolution 3
18 Miscellaneous Provisions 7
19 Counteracting Unethical Tax Practices 10
20 Tax Audit and Ethical Compliances 7
21 Non-resident Taxation 26
22 Double Taxation Relief 5
23 Advance Rulings 2
24 Transfer Pricing 22 30-35 marks
25 Fundamentals of BEPS
26 Application and Interpretation of Tax Treaties
-
27 Overview of Model Tax Conventions
28 Latest Developments in International Taxation
348 Pages
For detailed index of this book for the purpose of Paper 6 IBS,
kindly scan the QR code given in Next Page
If you come across any errors or omission, kindly share those points with me via gmail
[email protected]
