DIRECT TAXES MANUAL in 3 volumes, 2022 by Bharat

Volume 1

1. Income-tax Act, 1961

Text of sections

Chronological list of Amendment Acts

SUBJECT INDEX

Appendix 1: Important Circulars and Notifications

Appendix 2: The Finance Act, 2022

Income Tax

The First Schedule: Rates of Taxes

Part I: Income Tax

Part II: Rates for Deduction of Tax at Source in Certain Cases

Part III: Rates for Charging Income-tax in Certain Cases, Deducting Income-tax from Income Chargeable under the Head “Salaries” and Computing “Advance Tax”

Part IV: Rules for Computation of Net Agricultural Income

Appendix 3: Extended Due Dates

2. Securities Transaction Tax

Text of Sections

3. Commodities Transaction Tax

Text of Sections

4. Equalisation Levy

Text of Sections

5. Limited Liability Partnership Act, 2008

Text of Sections

6. Prohibition of Benami Property Transactions Act, 1988

Text of Sections

7. Kar Vivad Samadhan Scheme, 1998

8. Direct Tax Vivad Se Vishwas Act, 2020

Text of Sections

9. Public Provident Fund Act, 1968

Volume 2

DIVISION ONE

INCOME TAX & ALLIED RULES

1.The Income-tax Rules, 1962

Chronological list of amendments

2.The Income-tax Rules, 1962

Text of Rules and Forms

Subject Index

ANNEXURE 1: Income Computation and Disclosure Standards

A.Income Computation and Disclosure Standard I relating to accounting policies

B.Income Computation and Disclosure Standard II relating to valuation of inventories

C.Income Computation and Disclosure Standard III relating to construction contracts

D.Income Computation and Disclosure Standard IV relating to revenue recognition

E.Income Computation and Disclosure Standard V relating to tangible fixed assets

F.Income Computation and Disclosure Standard VI relating to the effects of changes in foreign exchange rates

G.Income Computation and Disclosure Standard VII relating to government grants

H.Income Computation and Disclosure Standard VIII relating to securities

I.Income Computation and Disclosure Standard IX relating to borrowing costs

J.Income Computation and Disclosure Standard X relating to provisions, contingent liabilities and contingent assets

Circular No. 10/2017, dated 23-3-2017: Clarifications on Income Computation and Disclosure Standards (ICDS) notified under section 145(2) of the Income-tax Act, 1961

3.The Income-tax (Certificate Proceedings) Rules, 1962

Text of Rules and Forms

Chronological list of amendments

Subject Index

4.The Income-tax (Appellate Tribunal) Rules, 1963

Text of Rules and Forms

Chronological list of amendments

CBDT Instruction: Revision of monetary limits for filing of appeals by the department before Income-tax Appellate Tribunal, High Courts and Supreme Court — Measures for reducing litigation — Regarding

Instructions regarding e-payment of ITAT fees

Subject Index

5.Income-tax (Dispute Resolution Panel) Rules, 2009

Text of the Rules

6.The Income-tax Settlement Commission (Procedure) Rules, 1997

Text of the Rules

7.The Authority for Advance Rulings (Procedure) Rules, 1996

Text of the Rules

8.Securities Transaction Tax Rules, 2004

Text of the Rules

9.Commodities Transaction Tax Rules, 2013

Text of the Rules

10.Equalisation Levy Rules, 2016

Text of the Rules

11.Prohibition of Benami Property Transaction Rules, 2016

Text of the Rules

12.Direct Tax Vivad se Vishwas Rules, 2020

Text of the Rules

DIVISION TWO

RELEVANT SCHEMES

13.Reverse Mortgage Scheme, 2008

[For purposes of section 47(xvi)]

Text and Forms of the Scheme

14.Capital Gains Accounts Scheme, 1988

[For purposes of sections 54(2), 54B(2), 54D(2), 54F(4) and 54G(2)]

Text and Forms of the Scheme

Notification: Banks authorised to receive deposits under the scheme

15.Bank Term Deposit Scheme, 2006

[For purposes of section 80C(2)(xxi)]

Text and Forms of the Scheme

16.National Pension Scheme Tier II – Tax Saver Scheme, 2020

Text of the Scheme

17.Centralised Verification Scheme, 2019

Text of the Scheme

18.Centralised Processing of Returns Scheme, 2011

[For purposes of section 143(1A)]

Text of the Scheme

19.Faceless Assessment Scheme, 2019

(1) Faceless Assessment Scheme, 2019 u/s 143(3A)

(2) Directions under section 143(3B) for Faceless Assessment Scheme, 2019

(3) Conduct of assessment proceedings through “E-Proceeding” facility during financial year 2019-20 — regarding: Circular No. 27 of 2019, dated September 26, 2019

(4) Income-tax Authority of Regional e-Assessment Centres

(5) Income-tax Authorities of NaFC to exercise powers and functions of Assessing Officer

(6) Income-tax Authorities of Regional Faceless Assessment Centres to Exercise powers and functions of Assessing Officers

(7) Authorising (ReFAC)(VU) to exercise certain powers

20.Tax Return Preparer Scheme, 2006

Text of the Scheme

21.Faceless Appeal Scheme, 2021

(1)Faceless Appeal Scheme, 2021 under section 250(6B) and (6C)

(2)Authorised Income-tax Authorities to conduct e-appeal proceedings

22.Faceless Penalty Scheme, 2021

(1) Faceless Penalty Scheme, 2021

(2) Directions under section 274(2B) for Faceless Penalty Scheme, 2021

23.E-advance Rulings Scheme, 2022

24e-Verification Scheme, 2021

25 Income Computation and Disclosure Standards

(See Annexure 1 to Income-tax Rules, 1962, page 2.1007)

26Limited Liability Partnership Rules, 2009

Text of the Scheme

Volume 3

Division 1

Definitions under various enactments

Definitions under various enactments

Division 2

Interpretation of Statutes

Chapter 1Interpretation of Taxing Statutes

Chapter 2 General Principles of Interpretation

Division 3

Words and Phrases under Direct Taxes

A.  Income-tax Act, 1961

B.  Wealth-tax Act, 1957

C.  Gift-tax Act, 1958

D.  Interest-tax Act, 1974

E.  Expenditure-tax Act, 1987

F.Direct Tax Vivad Se Vishwas Act, 2020

Division 4

Supreme Court & High Courts on Income Tax

Supreme Court & High Courts on Income Tax

Division 5

CBDT Circulars & Government Notifications

AIncome-tax Act, 1961

BWealth-tax Act, 1957

CExpenditure-tax Act, 1987

DBanking Cash Transaction Tax

Division 6

Model Deeds

Model Deeds

Division 7

Allied Laws Referred to in Direct Taxes Acts/Rules

Allied Laws Referred to in Direct Taxes Acts/Rules