Taxmann's flagship publication on Direct Taxes has been the 'go-to-guide' for Students & Professional Practitioners for over 40 years. This book aims to make the reader understand the Law and develop the ability to apply the Law. In other words, this book aims at providing the reader with the following:
Acquire familiarity with the direct tax provisions
Awareness of the direct tax provisions
The nature and scope of the direct tax provisions
Up-to-date knowledge of how different courts of Law have interpreted a statutory provision on different occasions
This book is written in simple language, explaining the provision of the Law in a step-by-step &- to-the-point manner – with the help of suitable illustrations, without resorting to paraphrasing of sections and legal jargon.
This book will be helpful for students appearing in CA, CS, ICWA, M.Com., LL.B., and MBA examinations. It will also be helpful for those appearing in the income-tax departmental examination.
The Present Publication is the 68th Edition for A.Y. 2023-24 (amended up to 1st January 2023), authored by Dr Vinod K. Singhania & Dr Kapil Singhania. The noteworthy features of this book are as follows:

[Self-Learning/Practice Book] Features learn-yourself-technique enabling students to learn & apply the Law faster
[Treatment of Text is To-The-Point] The matter is arranged in paras and sub-paras with distinct numbers to save time and energy. Also, debatable issues have been deliberated to their logical conclusion
[Well-Thought-Out-Original-Problems] Each para starts with analytical discussions supported by 600+ 'well-thought-out-original-problems'. A unique style of illustrating all complex provisions has been adopted. Hints are also given wherever tax planning can be resorted to
[Most Amended] Latest Circulars, Notifications, Amendments & Case Laws (up to 1st January 2023) are included in all discussions. All recent citations of Court Rulings, Circulars and Notifications have been highlighted
[Past Exam Questions with Answers] Question set for CA (Final) examination and answers from May 2012 to May 2022
[Follows Six-Sigma Approach] to achieve the benchmark of 'Zero-Error'
The detailed coverage of this book includes:
Basic Concepts
Residential Status and Tax Incidence
Incomes Exempt from Tax
Salaries
Income from House Property
Profits and Gains of Business or Profession
Capital Gains
Income from Other Sources
Income of Other Persons included in Assessee's Total Income
Set Off and Carry Forward of Losses
Deductions from Gross Total Income and Tax Liability
Agricultural Income
Typical Problems on the Assessment of Individuals
Tax Treatment of Hindu Undivided Families
Special Provisions Governing Assessment of Firms and Associations of Persons
Taxation of Companies
Assessment of Co-operative Societies
Assessment of Charitable and Other Trusts
Returns of Income and Assessment
Penalties and Prosecution
Advance Payment of Tax
Interest
Tax Deduction or Collection at Source
Refund of Excess Payments
Appeals and Revisions
Income-tax Authorities
Settlement of Cases
Special Measures in Respect of Transactions with Persons Located in Notified Jurisdiction Area
General Anti-avoidance Rule
Advance Ruling for Non-residents
Search, Seizure and Assessment
Transfer Pricing
Business Restructuring
Alternative Tax Regime
Tax Planning
Miscellaneous
Annexures
Tax Rates
Rates of Depreciation
The Eleventh Schedule, Thirteenth Schedule, Fourteenth Schedule/Investment ceiling in the case of small scale industrial undertaking
Notified backward districts
Question set for CA (Final) examination and answers from May 2012 to May 2022