Which is better as a chartered accountant: investment banking or direct taxation?

Investment banking and direct taxation both are altogether different fields and it totally depends upon one's self-interest as you can develop skills, no doubt, but at the end what keeps you dedicated toward something is the interest of yours. Talking about scope in both the fields, both the fields are vast and alot of money making opportunities are there. All the very best. Good luck.

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As a CA, its better to do what you love. Theres immense scope in every field. However, speaking in terms of money/pay package. Its undoubtedly investment banking. Direct taxation, assuming you are working in India in a big four or a mid-sized organization, would include a major portion of practical application of Income tax sections and case laws learned in your CA final exam. It would comprise filing replies to AO (Assessing officer) for tax demands raised on your clients, filing petitions, tax planning, and tax consulting for companies planning to invest in India etc. I feel it would be really stimulating to apply the sections of the act and fight for your client. You can focus in this field and start your own practice after about five to ten years as you do need a decent network of peers and clients who could become your clients down the line. (Provided you do not violate the non-compete code of your employer) Investment banking is mostly into due diligence and advisory. You recommend your clients on whether to buy a specific company or not. The deadlines can be tight and really long work hours. The pay will apparently be better once you move up the corporate ladder. It also includes a lot of practical application of what you have learnt and the additional factor being exposure to a particular industry. You will learn a lot about your clients industry and the way in which it works. Great learning experience and exposure. In case you do have plans of a MBA in the future an Investment banking work experience will definitely boost your resume.

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