Direct Taxes Ready Reckoner Vinod K. Singhania

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Best-selling illustrative commentary on all provisions of the Income-tax Act for 40+ years with focused analysis for A.Y. 2022-23 & 2024-25. This book is amended by the Finance Bill 2023 as passed by the Lok Sabha. It also covers case studies, break-even tables on alternative tax regime, faceless tax proceedings, etc.



Taxmann’s bestseller for 40+ years, is a ready-referencer for all provisions of the Income-tax Act, covering an illustrative commentary.

The Present Publication is the 47th Edition & has been amended by the Finance Bill 2023 as passed by the Lok Sabha for A.Y. 2023-24 & 2024-25. This book has been authored by Dr Vinod K. Singhania, with the following noteworthy features:

[Focused Analysis] without resorting to paraphrasing of sections and legal jargons, on the following:
[Amendments made by the Finance Bill 2023] are duly incorporated in respective chapters and are appropriately highlighted
[Comprehensive Analysis of Amendments with Illustrations] are given separately in Referencer 2: Amendments at a glance
[Case Studies on Complex Provisions] are given to understand the implications of the new provisions and amendments in the existing provisions, including:
Section 43B – Consequences of making late payment to micro and small enterprises
Section 44AD & Section 44ADA – Increase in the threshold limits for presumptive taxation scheme
Section 50AA – Special provision for computation of capital gain in the case of a unit of specified mutual fund or market-linked debenture
Section 54 & 54F – Limit on the exemption that can be claimed
Section 56(2)(xiii) – Tax on the sum received under a life insurance policy
Section 87A – Rebate under alternative tax regime
Section 115BAC – Alternative Tax Regime
[Analysis of all Provisions of the Income-tax Act] along with relevant Rules, Case Laws, Circulars and Notifications
[Analysis on Alternative Tax Regime] along with Break-even Tables
[Faceless Tax Proceedings] provides the summary of all the legal provisions
[Tabular Presentation] of all key provisions of the Income-tax Act
[Computation of Taxes] on various slabs of income
[Ready Referencer] for tax rates, TDS rates, TCS rates, due dates, etc.
[Zero Error] Follows the six-sigma approach to achieve the benchmark of ‘zero error’
Contents of this book are as follows:

Part A – Study of Direct Taxes
Tax rates for the assessment years 2023-24 and 2024-25
Amendments at a glance
Alternative tax regime
Income Computation and Disclosure Standards
Tax rates for the last ten assessment years
Gold and silver rates for the current year, last ten assessment years and on April 1, 1981/April 1, 2001
Tax savings schemes at a glance
Rates of depreciation
Under the Income-tax Act
For the assessment years 2006-07 onwards
For power generating units from the assessment year 1998-99
Under the Companies Act, 2013
Deductions and allowances under the Income-tax Act
Provisions of sections 44D, 44DA and 115A in brief
Cost Inflation Index
Interest on National Savings Scheme
Computation of income and tax under sections 115A, 115AB, 115AC, 115AD, 115BBA and 115D
Withholding tax rates
Period of limitation under the Income-tax Act
Time limit for the issue of notice during 2023-24 under section 148
Provisions of Sections 54, 54B, 54D, 54EC, 54F, 54GA and 54H
New faceless proceedings regime
Dates with direct taxes

Income from ‘Salaries’
Income from house property
Profits and gains of business or profession
Capital gains
Income from other sources
Clubbing of income
Set-off of losses
Exemptions and deductions
Deductions from tax liability
Agriculture income
Return of income
Advance payment of tax
Deduction or collection of tax at source
How to compute tax liability
Tax incidence on trusts
Business trust
Alternative Investment Funds
Special procedure for assessment of search cases
Tax clearance certificate
Tonnage tax
Securities transaction tax
Restrictions on cash transactions
Banking cash transaction tax
Equalisation Levy
Dispute Resolution Scheme
Part B – Tax Tables | A.Y. 2023-24 & 2024-25
Individuals, HUFs and AOPs
Regular tax regime
Alternative tax regime
Domestic companies
Foreign companies
Co-operative societies
Tax deduction at source
Regular tax regime
Alternative tax regime
Part C – Market Quotations
Gold and Silver
Part D – Tax Tables of the Past Six Years (Assessment Years 2017-18 to 2022-23)
Individuals, HUFs and AOPs