Taxmann’s Direct Taxes Manual (Set of 3 volumes) – 53rd Edition 2023

This book combines the following, making it a one-stop resource for statutes & case laws on direct taxes:

• Acts
• Rules
• Landmark Rulings
• Direct Taxes Law Lexicon
• Circulars, Clarifications & Notifications
• Schemes, Models & Drafts

This book comes in a set of three volumes and incorporates all changes made by the following:

• Volume One | Acts – Amended by the Finance Act, 2023
• Volume Two | Rules – Updated till the Income-tax (Third Amendment) Rules, 2023
• Volume Three | Landmark Rulings, Circulars, Clarifications, Notifications, etc. – Amended/Updated up to February 2023

The Present Publication is the 53^rd Edition, edited by Taxmann’s Editorial Board, with the following volume-wise noteworthy features:

• Volume One | Acts
  • [Annotations] under each section shows:
    • Relevant Rules & Forms
    • Relevant Circulars & Notifications
    • Date of enforcement of provisions
    • Allied Laws referred to in the section
  • [Legislative History of Amendments] since 1961
  • Comprehensive Table of Contents
  • [Quick Navigation] Relevant section numbers are printed in folios for quick navigation
• Volume Two | Rules
  • [Action Points for Forms] All Forms carry Action Points that explain the Relevant Provisions and Process of Filing
  • [Return Forms] for A.Y. 2023-24
  • [Quick Identification for Redundant & e-Forms]
• Volume Three | Landmark Rulings, Circulars, Clarifications, Notifications, etc.
  • [15+ Schemes] relevant under the Income-tax Act
  • [Words & Phrases] as defined by various Courts
  • [Circulars, Clarifications & Notifications | 1961 – February 2023] Gist of all Circulars and Notifications which are in force
  • [Case Laws | 1922 – February 2023] Digest of all Landmark Rulings by the Supreme Court, High Courts
  • [25+ Models & Drafts] helpful in your day-to-day practice
• [Bestseller Series] Taxmann’s series of Bestseller Books for more than Five Decades
• [Zero Error] Follows the Six Sigma Approach to achieve the benchmark of ‘Zero Error’

The volume-wise coverage of this book is as follows:

• [Acts] The following Acts are covered in this book:
  • Income Tax Act, 1961, as amended by the Finance Act 2023. It also includes the list/text of provisions of allied Acts, Circulars, and Regulations referred to in the Income-tax Act, along with validation provisions & subject-index
  • Finance Act 2023
  • Prohibition of Benami Property Transactions Act, 1988, as amended by the Finance Act 2023
  • Securities Transaction Tax as amended by the Finance Act 2023
  • Commodities Transaction Tax
  • Equalisation Levy, along with Notification u/s 164 of the Finance Act, 2016
  • Black Money Act
    • Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
    • Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015
• [Rules] The following Rules are covered in this book:
  • Income-tax Rules, 1962 amended up to date with the list/text of provisions of Allied Laws referred to in Income-tax Rules along with Subject Index
  • Income Computation and Disclosure Standards
  • Income-tax (Appellate Tribunal) Rules, 1963
    • Standing Order under Income-tax (Appellate Tribunal) Rules 1963
    • Other Notifications & Instructions
    • Income-tax Appellate Tribunal Members (Recruitment and Conditions of Service) Rules 1963
    • Subject Index
  • Commodities Transaction Tax Rules, 2013
  • Securities Transaction Tax Rules, 2004
  • Authority for Advance Rulings (Procedure) Rules, 1996
  • Prohibition of Benami Property Transaction Rules, 2016
  • Equalisation Levy Rules, 2016
  • Capital Gains Accounts Scheme, 1988
  • Electoral Trusts Scheme, 2013
  • Income-tax (Dispute Resolution Panel) Rules, 2009
  • Reduction of interest under Section 234A/234B/234C
    • CBDT’s Instructions for waiver or reduction of interest
  • Delay in Filing Refund Claim
    • Condonation of delay in filing refund claim and claim of carry forward of losses under section 119(2)(b) of the Income-tax Act
  • Reverse Mortgage Scheme, 2008
  • Centralised Verification Scheme, 2019
  • Faceless Assessment Scheme, 2019 with Directions
  • Faceless Appeal Scheme, 2021
  • Faceless Penalty Scheme, 2021 with Directions
  • Site Restoration Fund Scheme, 1999
  • National Pension Scheme Tier II – Tax Saver Scheme, 2020
  • Centralised Processing of Returns Scheme, 2011
    • Application of provisions of the Act relating to the processing of Returns
  • e-Settlement Scheme, 2021
  • e-Verification Scheme, 2021, with FAQs
  • e-Advance Rulings Scheme, 2022
  • Relaxation of Validation (Section 119 of the Finance Act 2012) Rules, 2021
  • Faceless Jurisdiction of Income-tax Authorities Scheme, 2022
  • e-Assessment of Income Escaping Assessment Scheme, 2022
  • Faceless Inquiry or Valuation Scheme, 2022
  • e-Dispute Resolution Scheme, 2022
  • Centralised Processing of Equalisation Levy Statement Scheme, 2023
• [Return Forms for Assessment Year 2023-24 & Other Rules/Schemes]
  • [Return Forms]
    • ITR-1 | SAHAJ – Individual Income Tax Return
    • ITR-2 | Return of Income – For Individuals and HUFs not having income from profits and gains of business or profession
    • ITR-2A | [Omitted by the IT (Fourth Amdt.) Rules, 2017, w.e.f.
      1-4-2017]
    • ITR-3 | Return of Income – For Individuals and HUFs having income from profits and gains of business or profession
    • ITR-4 | SUGAM – For Individuals, HUFs and Firms (other than LLP) being a resident having total income up to Rs. 50 lakh and having income from business and profession, which is computed under section 44AD, 44ADA or 44AE [Not for an individual who is either Director in a company or has invested in unlisted equity shares or if income-tax is deferred on ESOP or  has agricultural income more than Rs. 5000]
    • ITR-4 | [Omitted by the IT (Fourth Amdt.) Rules, 2017, w.e.f. 1-4-2017]
    • ITR-5 | Return of Income – For persons other than — (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7
    • ITR-6 | Return of Income – For Companies other than companies claiming exemption under section 11
    • ITR-7 | Return of Income – For persons including companies required to furnish returns under sections 139(4A) or 139(4B) or 139(4C), or 139(4D) only
    • ITR-8 | [Omitted by the IT (Twenty-First Amdt.) Rules, 2021, w.e.f. 29-7-2021]
    • ITR-V | Verification Form | Acknowledgment
  • [Other Rules & Schemes]
    • Income-tax (Certificate Proceedings) Rules, 1962
    • Income-tax Settlement Commission (Procedure) Rules, 1997
    • Tax Return Preparer Scheme, 2006
    • Bank Term Deposit Scheme, 2006
    • Sukanya Samriddhi Account Scheme, 2019
    • Senior Citizens’ Savings Scheme, 2019
    • Kisan Vikas Patra Scheme, 2019
    • Public Provident Fund Scheme, 2019
    • National Savings Certificates (VIII Issue) Scheme, 2019
• [Landmark Rulings, Direct Taxes Law Lexicon, Circulars, Clarifications & Notifications, and Schemes, Models & Drafts] are included:
  • [15+ Schemes] relevant under the Income-tax Act, 1961, are included:
    • Income Tax Informants Rewards Scheme, 2018
    • Hospitalisation and Domiciliary Hospitalisation Benefit Policy
    • Settlement Commission (Income-tax and Wealth-tax) (Recruitment and Conditions of Service of Chairman, Vice-Chairmen and Members) Rules, 2015
    • Income-tax Welfare Fund Rules, 2007
    • Guidelines for Providing Training by Shipping Companies for Tonnage Tax Scheme under Chapter XII-G of Income-tax Act
    • Equity Linked Savings Scheme, 2005
    • Income Tax Ombudsman Guidelines, 2010
    • Authority for Advance Rulings (Procedure for Appointment as Chairman and Vice-Chairman) Rules, 2016
    • Electoral Bond Scheme, 2018
    • Prohibition of Benami Property Transactions (Conditions of Services of Members of Adjudicating Authority) Rules, 2019
    • Tribunals Reforms Act, 2021
    • Conditions of Service of Chairperson and Members of Tribunals, Appellate Tribunals and other Authorities
    • Tribunal (Conditions of Service) Rules, 2021
    • Direct Tax Vivad se Vishwas Act, 2020
    • Direct Tax Vivad se Vishwas Rules, 2020
  • [Words & Phrases] as defined by various Courts
    • Section key to Words and Phrases judicially defined under Income-tax Act
    • Alphabetical key to Words and Phrases judicially defined under Income-tax Act
  • [Circulars, Clarifications & Notifications | 1961 – February 2023] Gist of all Circulars and Notifications which are in force
  • [Case Laws | 1922 – February 2023] Digest of all Landmark Rulings by the Supreme Court, High Courts
  • [25+ Models & Drafts]
    • Partnership deed
    • Specimen of dissolution deed of partnership firm
    • Specimen deed of dissolution of HUF
    • Gift deed
    • Will
    • Lease Deed
    • Indemnity Bond-I
    • Indemnity Bond-II
    • Specimen affidavit
    • Specimen letter of communication with the previous auditor
    • Power of attorney
    • Intimation to AO regarding discontinuance of business
    • Letter to AO regarding giving of appeal effect
    • Application to AO requesting a stay of demand
    • Letter to AO regarding setting off of tax payable against the refund due
    • Reply to notice under section 221(1)
    • Specimen affidavit under rule 10 of the Income-tax (Appellate Tribunal) Rules
    • Specimen application to Appellate Tribunal for admission of delayed appeal
    • Specimen application for rectification of mistake
    • Specimen application for revision under section 264
    • Specimen application for the exercise of option under clause (2) of the Explanation to section 11(1)
    • Draft Letter of Appointment
    • Specimen letter for seeking adjournment for video conferencing in faceless assessment
    • Specimen letter to submit information in the course of faceless assessment proceeding
    • Specimen application for condonation of delay in filing of Appeal before CIT (Appeals)
    • Specimen Application for Admission of Additional evidence in an Appeal
    • Specimen deed to create a Family Trust (Discretionary Trust)