Taxmanns Direct Taxes Ready Reckoner (DTRR) | AYs 202425 & 202526 Illustrative Ready Referencer on Incometax with Focused

Direct Taxes Ready Reckoner has been a trusted companion for tax professionals across India for more than forty years, providing unparalleled clarity and comprehensive coverage of the Incometax Act.In its 48th Edition, the Present Publication has been updated to incorporate the latest legislative changes by the Finance (No. 2) Act, 2024, as passed by the Lok Sabha. Applicable for Assessment Years 202425 and 202526, this edition is authored by Dr Vinod K. Singhania, whose expert analysis has established this book as a cornerstone in direct taxation in India. The key highlights of this edition include: Focused and Succinct Analysiso This edition continues the tradition of providing a focused analysis of the provisions of the Incometax Act, eschewing unnecessary paraphrasing and complex legal jargon. The amendments introduced by the Finance (No. 2) Act, 2024 are seamlessly integrated into the text, with clear highlights and explanations provided in each relevant chapter Illustrative Coverage of Recent Amendmentso A unique feature of this edition is Referencer 2Amendments at a Glance, which provides a comprehensive and illustrative breakdown of all the recent amendments. This section is designed to help readers quickly grasp the implications of the latest legislative changes, supported by practical examples and scenarios InDepth Case Studies on Complex Provisionso Understanding the practical impact of legislative changes can be challenging. This edition includes indepth case studies on some of the most complex provisions and amendments to aid comprehension. These include: Analysis of increased tax rates on longterm and shortterm capital gains (Sections 111A, 112 & 112A) Examination of changes in the period of holding for capital asset classification (Section 2(42A) ) Detailed discussion on the withdrawal of indexation benefits and the implications of the grandfathering clause for resident individuals and HUFs (Section 48) Understanding of special provisions for capital gains computation related to unlisted bonds and debentures (Section 50AA) Detailed guidance on the computation of deemed dividends on share buybacks (Sections 2(22)(f) & 46A) Analysis of the revised limits on remuneration and TDS applicability for firms (Sections 40 & 194T) Analysis of the abolition of the Angel Tax (Section 56(2)(viib) A comprehensive overview of block period assessments in search and requisition cases (Chapter XIVB, Sections 158B to 158BI) A critical examination of the new provisions for income reassessment (Sections 148 to 153)o Comprehensive Analysis of the Incometax Act Beyond the recent amendments, this edition provides an exhaustive analysis of all the provisions of the Incometax Act. The commentary is enriched with references to relevant rules, case laws, circulars, and notifications, ensuring that readers have a holistic understanding of the lawo Alternative Tax Regime The book includes a detailed discussion of the alternative tax regime, complete with breakeven tables that provide a clear comparison between different tax regimes, enabling taxpayers to make informed decisionso Faceless Tax Proceedings This edition covers the legal framework for faceless tax proceedings, summarizing the relevant provisions to ensure that readers are wellprepared for these modernized tax processeso Enhanced Usability with Tabular Presentations Key provisions of the Incometax Act are organized into intuitive tables for easy reference, allowing professionals to access essential information quickly. This includes a referencer on tax audits under Section 44AB, with interconnections to Sections 44AD/44ADA, alternative tax regimes, the Vivad se Vishwas Scheme, taxation of life insurance policies, and capital gains exemptionso Comprehensive Tax Computation Guidelines Detailed guidelines on the computation of taxes across various income slabs are provided, ensuring that professionals can carry out accurate and compliant tax calculationso Ready Referencer for Tax Information The book serves as an essential ready reference, offering the latest tax rates, TDS and TCS rates, due dates, and other critical taxrelated information in a concise formato Commitment to Accuracy Zero Error Approach Upholding the Six Sigma principles, this edition strives for zero error, making it one of the most reliable resources in the field of direct taxationIn addition to the focused analysis and case studies, this edition includes a wide range of topics crucial for tax professionals: [Tax Rates] Detailed rates for the assessment years 202425 and 202526, along with historical tax rates for the past ten assessment years [Market Quotations] Current and historical gold and silver rates, dating back to April 1, 1981/April 1, 2001 [Taxsaving Schemes] An overview of various taxsaving schemes, enabling professionals to provide comprehensive tax planning advice [Depreciation Rates] Detailed coverage of depreciati