Taxmann’s Direct Taxes Ready Reckoner by Vinod K Singhania – 45th Edition March 2021 (A.Y. 2021-22 & 2022-23)

Taxmann’s Ultimate Best-Seller, ‘Direct Taxes Ready Reckoner’ is a ready-referencer for all provisions of the Income-tax Act, covering illustrative commentary on the Finance Bill, 2021 (as passed by the Lok Sabha).

The Present Publication is the 45^th Edition & amended by the Finance Bill 2021 (as passed by the Lok Sabha), authored by Dr. Vinod K. Singhania. The book has the following noteworthy features:

• [Focused Analysis] without resorting to paraphrasing of sections and legal jargons, on the following:
  • [Amendments made by the Finance Bill, 2021] 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
    • Difficult provisions (such as Section 45(4), Section 9B, 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
• Provides 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 on 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 2021-22 and 2022-23
    • 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 issue of notice during 2021-22 under section 148
    • Provisions of Sections 54, 54B, 54D, 54EC, 54F, 54GA and 54H
    • New faceless proceedings regime
    • Dates with direct taxes
    • 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
    • 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 2015-16 to 2020-21)
    • Individuals, HUFs and AOPs