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Taxmann’s Direct Taxes Ready Reckoner 47th Edition 2023



Best-selling illustrative commentary on all provisions of the Income-tax Act for 40+ years with focused analysis for A.Y. 2022-23 & 2024-25. This book is amended by the Finance Bill 2023 as passed by the Lok Sabha. It also covers case studies, break-even tables on alternative tax regime, faceless tax proceedings, etc.



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 Bill 2023 as passed by the Lok Sabha for A.Y. 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:
    • [Amendments made by the Finance Bill 2023] are duly incorporated in respective chapters and are appropriately highlighted
    • [Comprehensive Analysis of Amendments with Illustrations] are given separately in Referencer 2: Amendments at a glance
    • [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
    • [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
    • Tax rates for the assessment years 2023-24 and 2024-25
    • 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 the Income-tax Act
    • Time limit for the issue of notice during 2023-24 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
    • Dispute Resolution Scheme
  • Part B – Tax Tables | A.Y. 2023-24 & 2024-25
    • Individuals, HUFs and AOPs
      • Regular tax regime
      • Alternative tax regime
    • Firms
    • Domestic companies
    • Foreign companies
    • Co-operative societies
    • Tax deduction at source
      • Regular tax regime
      • Alternative tax regime
  • Part C – Market Quotations
    • Gold and Silver
  • Part D – Tax Tables of the Past Six Years (Assessment Years 2017-18 to 2022-23)
    • Individuals, HUFs and AOPs

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