Taxmann's Direct Taxes Ready Reckoner (DTRR) | A.Y. 2023-24 & 2024-25

Taxmann's bestseller for 40+ years, is a ready-referencer for all provisions of the Income-tax Act, covering an illustrative commentary.

The Present Publication is the 47th Edition & has been amended by the Finance Act 2023 for AYs 2023-24 & 2024-25. This book has been authored by Dr Vinod K. Singhania, with the following noteworthy features:

• [Focused Analysis] without resorting to paraphrasing of sections and legal jargons, on the following:
  o [Amendments made by the Finance Act 2023] are duly incorporated in respective chapters and are appropriately highlighted
  o [Comprehensive Analysis of Amendments with Illustrations] are given separately in Referencer 2: Amendments at a glance
  o [Case Studies on Complex Provisions] are given to understand the implications of the new provisions and amendments in the existing provisions, including:
  § Section 43B – Consequences of making late payment to micro and small enterprises
  § Section 44AD & Section 44ADA – Increase in the threshold limits for presumptive taxation scheme
  § Section 50AA – Special provision for computation of capital gain in the case of a unit of specified mutual fund or market-linked debenture
  § Section 54 & 54F – Limit on the exemption that can be claimed
  § Section 56(2)(xiii) – Tax on the sum received under a life insurance policy
  § Section 87A – Rebate under alternative tax regime
  § Section 115BAC – Alternative Tax Regime
  o [Analysis of all Provisions of the Income-tax Act] along with relevant Rules, Case Laws, Circulars and Notifications
• [Analysis on Alternative Tax Regime] along with Break-even Tables
• [Faceless Tax Proceedings] provides the summary of all the legal provisions
• [Tabular Presentation] of all key provisions of the Income-tax Act
• [Computation of Taxes] on various slabs of income
• [Ready Referencer] for 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
  o Tax rates for the assessment years 2023-24 and 2024-25
  o Amendments at a glance
  o Alternative tax regime
  o Income Computation and Disclosure Standards
  o Tax rates for the last ten assessment years
  o Gold and silver rates for the current year, last ten assessment years and on April 1, 1981/April 1, 2001
  o Tax savings schemes at a glance
  o 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
  o Deductions and allowances under the Income-tax Act
  o Provisions of sections 44D, 44DA and 115A in brief
  o Cost Inflation Index
  o Interest on National Savings Scheme
  o Computation of income and tax under sections 115A, 115AB, 115AC, 115AD, 115BBA and 115D
  o Withholding tax rates
  o Period of limitation under the Income-tax Act
  o Time limit for the issue of notice during 2023-24 under section 148
  o Provisions of Sections 54, 54B, 54D, 54EC, 54F, 54GA and 54H
  o New faceless proceedings regime
  o Dates with direct taxes
  o Terminology
  o Income from 'Salaries'
  o Income from house property
  o Profits and gains of business or profession
  o Capital gains
  o Income from other sources
  o Clubbing of income
  o Set-off of losses
  o Exemptions and deductions
  o Deductions from tax liability
  o Agriculture income
  o Return of income
  o Penalty
  o Interest
  o Advance payment of tax
  o Deduction or collection of tax at source
  o How to compute tax liability
  o Tax incidence on trusts
  o Business trust
  o Alternative Investment Funds
  o Special procedure for assessment of search cases
  o Tax clearance certificate
  o Tonnage tax
  o Securities transaction tax
  o Restrictions on cash transactions
  o Banking cash transaction tax
  o Equalisation Levy
  o Dispute Resolution Scheme
• Part B – Tax Tables | AYs 2023-24 & 2024-25
  o Individuals, HUFs and AOPs
  § Regular tax regime
  § Alternative tax regime
  o Firms
  o Domestic companies
  o Foreign companies
  o Co-operative societies
  o Tax deduction at source
  § Regular tax regime
  § Alternative tax regime
• Part C – Market Quotations
  o Gold and Silver
• Part D – Tax Tables of the Past Six Years (Assessment Years 2017-18 to 2022-23)
  o Individuals, HUFs and AOPs