Direct Taxes Ready Reckoner 

5th Edition A.Y. 2021-22 & 2022-23

Description

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:

o        [Amendments made by the Finance Bill, 2021] are duly incorporated in respective Chapters of the Reckoner and are appropriately highlighted

o        [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

o        [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:

o        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