Taxmann Master Guide to Income Tax Act & Rules and Direct Taxes Law and Practice By Vinod K. Singhania Edition April 2025

Taxmann Combo for Direct Taxes By Vinod K. Singhania

Taxmann Combo for Direct Taxes By Vinod K. Singhania

The COMMENTARY COMBO – II for Direct Taxes is a meticulously curated set of three authoritative books that offer an all-encompassing exploration of India’s direct tax regime. Updated to incorporate amendments introduced by the Finance Act 2025 and the Income-tax (Fifth Amendment) Rules 2025, these books are designed to serve as definitive references. Each volume in this Combo addresses a different dimension of direct taxation:

• Master Guide to Income Tax Act
• Master Guide to Income Tax Rules
• Direct Taxes Law & Practice – Professional Edition

Collectively, they provide:

• Thorough legal commentary and rule-wise analysis
• Practical illustrations and examples
• Landmark judicial rulings and relevant circulars/notifications
• Comprehensive coverage of compliance requirements, procedural aspects, and strategic tax planning

This Combo is intended for the following audience:

• Tax Professionals, Chartered Accountants, and Consultants
• Lawyers & Legal Practitioners
• Corporate Finance Departments & CFOs
• Academicians & Researchers
• Government Officials & Regulators

The key features of the Combo are as follows:

• [Complete & Current] It encompasses all amendments introduced by the Finance Act 2025 and the Income-tax (Fifth Amendment) Rules 2025. Also, it reflects the latest notifications, circulars, case laws, and relevant policy directives
• [Authoritative Commentary] It delivers expert guidance from renowned authors and Taxmann’s Editorial Board, ensuring reliability and practical applicability. It also includes step-by-step explanations, practical examples, and an in-depth discussion of key legal amendments
• [Historical & Contemporary Insights] It showcases significant judicial rulings from as early as 1922, mapping the evolution of income tax law. This provides a robust understanding of the historical context as well as the most recent legal interpretations
• [User-friendly Format & Navigation] It includes a logical segmentation with chapter-wise detailing. Tables, charts, and cross-references are included for quick lookups and structured reading. Lastly, thorough indexing, footnotes, and endnotes guide readers to primary statutory sources
• [Practical Tools & Illustrations] It contains 600+ illustrations, examples, checklists, TDS/TCS tables, and ready references, which simplifies complex topics like transfer pricing, new presumptive taxation for non-residents, and GAAR provisions
• [Comprehensive Coverage] Addresses every facet of direct taxes: from basic concepts, heads of income, and deductions to advanced issues like business restructuring, international taxation, and anti-avoidance

The coverage of each book is as follows:

Master Guide to Income Tax Act

• Finance Act 2025 Amendments
• Tax rates, deductions, and changes to TDS/TCS
• New presumptive tax scheme for non-residents under Section 44BBD
• Extended provisions for charitable trusts, widened definitions for Virtual Digital Assets, and updates to search & seizure
• Comprehensive Analysis & Case Laws
• Landmark rulings (1922–Feb 2025) from the Supreme Court/High Courts
• Government notifications and CBDT circulars
• Detailed Divisions
• Division One – Commentary on amendments introduced by the Finance Act 2025
• Division Two – TDS & TCS tables for quick reference
• Division Three – Circulars, clarifications & notifications (1961–Feb 2025)
• Division Four – Landmark judicial rulings (1922–Feb 2025)

Master Guide to Income Tax Rules

• Rule-by-rule Analysis
• Covers the Income-tax Rules, 1962, from Rule 2A to Rule 134
• Detailed commentary, operative circulars, notifications, relevant judicial precedents
• Valuation & Compliance
• Valuation of perquisites, depreciation, capital gains, and record-keeping
• TDS/TCS procedures, forms, certificates, and statements
• Special Provisions & Schemes
• Transfer pricing, GAAR, infrastructure debt funds, charitable institutions, etc.
• Annexures & Cross-Referencing
• Texts of related circulars, notifications, and forms
• Legislative background, purpose, and real-world application explained with examples

Direct Taxes Law & Practice – Professional Edition

• Comprehensive & Lucid Presentation
• Explains direct tax provisions for AYs 2025-26 & 2026-27 through 600+ illustrations and case studies
• Focus on New Tax Regimes & Tax Planning
• Covers the practical impact of the new tax regime (Section 115BAC), including strategies and planning avenues
• Discusses MAT (Minimum Alternate Tax), Transfer Pricing, Business Restructuring, GAAR, etc.
• Step-by-step Procedures
• Covers assessments, appeals, revisions, penalties, and prosecutions
• Includes frequently asked questions (FAQs) to resolve common queries

The structure of the Combo is as follows:

• Logical Segmentation – Each book is divided into structured parts/divisions to handle specific areas of the law (e.g., commentary on recent amendments, TDS/TCS, notifications, or heads of income)
• Chapter-wise Detailing
• Chapters progress from foundational concepts like definitions and scope of income to advanced topics like search & seizure, Transfer Pricing, and GAAR
• Para-wise commentary and cross-referencing to relevant circulars, notifications, or sections
• Illustrations & Examples
• Step-by-step computations for undisclosed income, presumptive schemes, or block assessments
• Practical illustrations clarify complex theoretical provisions
• Cross-references & Indexing
• Extensive cross-references to help locate discussions in all three volumes
• Comprehensive indexing for quick lookups, making it equally suitable for daily use and deep research
• Annexures & FAQs
• Contains statutory references, forms, and schedules
• Provides frequently asked questions for quick clarity on common issues

About the author

Dr Vinod K. Singhania got his PhD from the Delhi School of Economics in 1976. His field of special interest includes all facets of corporate legislation and corporate economics, especially tax laws.

Associated in different capacities with several professional institutes and business houses in India and abroad, Dr Singhania has authored many popular books and software published by Taxmann.

He has to his credit more than 300 research articles that have appeared in leading journals. He has been a resource person in over 800 seminars in India and abroad.

Dr Kapil Singhania, a Fellow of the Institute of Chartered Accountants of India and belonging to the alumni of Shri Ram College of Commerce, has completed his research work, for which he was awarded a PhD in 2003. His fields of involvement in research work in the form of articles in various reputed journals and analytical studies span from corporate laws to direct and indirect taxation.

He has authored various acclaimed books on direct and indirect taxes published by Taxmann. Dr Singhania is providing tax consultancy to several business organizations, which include multinational and public sector companies.