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Taxmann’s Master Guide to Income Tax Act, is a unique book that provides the following:
- Section-wise commentary on the Finance Act 2021
- Ready-referencer for all-important procedural aspects of the Income-tax Act.
- Analysis of all statutory and judicial changes in the Income-tax Act
The Present Publication is the 31st Edition, amended by the Finance Act 2021 & the Taxation and other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020. This book is authored by Pradeep S. Shah & Rajesh S. Kadakia, with the following noteworthy features:
- [Division 1 | Commentary]: Section-wise commentary on changes made by the Finance Act, 2021
o Definitions
o Taxation of Unit Linked Insurance Policy (ULIPs)
o Tax Incentive for Units Located in International Financial Services Centre (IFSC)
o Exemptions
o Taxation of Charitable Trusts
o Business Income
o Capital Gains
o Carry Forward of Losses
o Deductions
o Return and Assessment of Income
o TDS
o Discontinuation of Income-tax Settlement Commission
o Constitution of Dispute Resolution Committee (Section 245MA)
o Board for Advance Rulings (Chapter XIX-B)
o Miscellaneous - [Division 2 | Income Tax Practice Manual]:
o Tabular presentation of all key provisions of the Act, i.e.:
§ Tax-Free Incomes§ Deductions & Allowances
§ Periods of Limitation
§ Penalties
§ offences and Prosecutions
o Analysis of all procedural aspects of the Act, i.e.:
§ Deduction of tax at source
§ Collection of tax at source
§ Return of income
§ Assessment/reassessment
§ Rectification of mistakes
§ Payment of tax/interest & refund of taxes
§ PAN & Aadhaar
§ Statements of Finance Transactions (SFT)
§ Advance Tax
§ Interest and Fees
§ Refunds
§ Faceless Proceedings - [Division 3 | Gist of all Circulars, Clarifications & Notifications (1961 – February 2021)] with Section & Alphabetical key for easy navigation
- [Division 4 | Digest of all Landmark Rulings (1922 – February 2021)] with Section & Alphabetical keys for easy navigation
- Also available in Taxmann’s Virtual Book Format (An e-Book Initiative for un-interrupted reading experience).
- Also available [28th Edition | 2021] Taxmann’s Master Guide to Income Tax Rules – In depth rule-wise commentary along with gist of all Circulars & Notifications and judicial precedents.