About Subject – CA Final Direct Tax

• A direct tax, as opposed to a transaction tax, is one placed on an individual person (juristic or natural) or property (i.e. real and personal property, animals, crops, wages, etc.).
• In this respect, indirect taxes like sales taxes and value-added taxes (VAT) are only applied if and when a taxable transaction takes place.
• People have the freedom to engage in or refrain from such transactions, whereas a direct tax (in the broad sense) is imposed on a person, usually unconditionally, such as a poll tax or head tax, which is imposed on the basis of the person’s very existence, or a property tax, which is imposed on the owner by virtue of ownership, rather than commercial use.
• “A direct tax cannot be moved by the taxpayer to someone else, whereas an indirect tax can,” according to some observers.
• The person who bears and pays direct tax is expected to be the same person.
• The person who pays the direct tax does not get a refund of all or part of the tax.
• In this sense, direct taxes are the polar opposite of indirect taxation.
• The concept of fiscal incidence allows for an examination of who, in the end, weighs the weight of a tax, determining whether it is direct or indirect.
• Declarative taxes are the most common type of direct taxation (established either by the person concerned or by a third party).
• The unconditional, inexorable nature of the direct tax was a major concern of those wanting to avoid despotic forms of government and preserve individual liberty in the 18th century.
• Adam Smith originally discussed the contrast between direct and indirect taxation in his Wealth of Nations, as shown in the following passage:
• As a result, a tax on necessities of life works in the same way as a direct tax on labor salaries…if he is a manufacturer.
• He will charge this rise in wages, together with a profit, on the price of his goods, so that the final payment of the tax, along with this overcharge, will fall on the consumer.

About Faculty – ( CA Kedar Junnarkar ) CA Final Direct Tax

• An Associate Member of ICAI. Also passed Company Secretary Examination.
• Based in Pune and have teaching experience of 10 years in Direct and Indirect Taxes.
• Diploma Holder in IFR ( Diploma in International Financial Reporting – ACCA UK) and DISA (Diploma in Information Systems Audit – ICAI, New Delhi)
  • A-Rank Holder In Five Examinations
  • All India Rank 5 in CA Professional Exam I
  • All India Rank 27 in CA Professional Exam II
  • All India Rank 47 in CA Final
  • All India Rank 13 in CS Executive
  • Rank 7 in HSC (Pune Division)
• All India Subject topper in:
  • Economics (91/100 in CA Professional Exam I)
  • Audit (83/100 in CA Professional Exam II)
• Second Highest in State in HSC in:
  • Accountancy (99/100)
  • French (98/100)

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