by Vinod K Singhania (Author)

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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