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And I differ from you re prospects of indirect tax. Indirect tax folks are dealing with completely new law and the judicial precedents are still to evolve. So there's going to be plenty of work to go around for next decade easily.
Compliance is returns & various forms preparation alongside financial statements &/or books of accounts. It includes transfer pricing, advance rulings, APAs, etc.
Same with international taxation. CAs from non-metros too have some or other form of work from international tax as every business has something to do with foreign entities. Of course Big 4 CA firms have lions share.
Representation is appearing for clients at various stages that include assessments at department level. First appeals & similar at department level. Second appeals at tribunal level. Big 4 are less interested here, they hire other CAs for labour arbitrage. They prefer consulting.
Till this level, CAs have major business. Later appeals are at high court & supreme court levels for that advocates are briefed.
If if one is fine to keep pace with thousands of amendments every year in various ways like law amendments & judgments, this is quite lucrative practice.
Not everyone needs to be Salves or Datars.
This is about direct tax practice. Indirect Tax practice is going to be LESS lucrative in my opinion (& I can be wrong) due to advent of AI & ML. Consultancy in IDT is quite limited. Compliance is heavy but it is dominated by non-CAs as anyone can do that. Litigation is going to boom in next 5 years after tribunals come into picture but later on they will go down as there won't be anything to dispute.
Modi ji be like - arey bhai dange krwaoge kya?
The kid needs to be taught the 3 inevitable in life.
2) Do you need to be a CA or CS? I’ve heard that most law firms assign tax work to CA’s
3) Direct or indirect tax- which one’s better
4) opportunities in international taxation for Indians?