Direct Taxes Ready Reckoner by Taxmann Publications

Taxmann's bestseller for 40+ years is a ready-referencer for all provisions of the Income-tax Act, covering illustrative commentary on the Finance Bill 2022.

The Present Publication is the 46th Edition & amended by the Finance Bill 2022 for A.Y. 2022-23 & 2023-24. Dr Vinod K. Singhania authors it 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, 2022] are duly incorporated in respective Chapters of the Reckoner and are appropriately highlighted

[Comprehensive Analysis of Amendments with Illustration] are given separately in Referencer 2: Amendments at a glance

Complex provisions (such as taxation of Virtual Digital Assets, Updated Return, etc.) have been explained by way of case studies

[Analysis of all provisions of the Income-tax Act] along with relevant Rules, Judicial Pronouncements, Circulars and Notifications

[Faceless Tax Proceedings] provides the summary of all the legal provisions

[Analysis on Alternative Tax Regime] along with Break-even Tables

[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 2022-23 and 2023-24

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 Income-tax Act

Time-limit for the issue of notice during 2022-23 under section 148

Provisions of Sections 54, 54B, 54D, 54EC, 54F, 54GA and 54H

New faceless proceedings regime

Dates with direct taxes

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Terminology

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

Penalty

Interest

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

Part B – Tax Tables | A.Y. 2022-23 & 2023-24

Individuals, HUFs and AOPs

Firms

Domestic companies

Foreign companies

Co-operative societies

Tax deduction at source

Part C – Market Quotations

Gold and Silver

Part D – Tax Tables of Past Six Years (Assessment Years 2016-17 to 2021-22)

Individuals, HUFs and AOPs