REFERENCER
5.
6. Gold and silver rates for the current year, last ten assessment years and on April 1, 1981/April 1,
7.
115A, 115AB, 115AC, 115AD, 115BBA and
19. Provisions of sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA and 54H
◆
◆
R-2 Amendments at a glance
EFFECTED BY THE FINANCE BILL, 20251
Tax rates
R2.1
R2.1-1 Income-taxR2.1-1a INDIVIDUAL/HUF/AOP/BOI/ARTIFICIAL JURIDICAL PERSONSenior citizen
Super senior citizen Any other individual, any HUF/AOP/BOI
R2.1-1b FIRM
R2.1-1c COMPANY
1. 2.
New tax regime for a domestic company -
R2.1-1d CO-OPERATIVE SOCIETY AND LOCAL AUTHORITY
New tax regime for a resident co-operative society -
R2.1-2 Surcharge on income-tax
Para R2.1
Net income range Surcharge as a % of income-tax Nil
Note - see
R2.1-2a SURCHARGE WHEN INDIVIDUAL/HUF/AOP, ETC., HAS DIVIDEND INCOME OR INCOME TAXABLE UNDER SECTION 111A/112/112ADifferent situations Nature and quantum of income of the assessee ( , individual, HUF, AOP, BOI or an artificial juridical person)
Surcharge on amount of income-tax computed on dividend income and income which is taxable under section 111A/112/112A
Surcharge on amount of income-tax computed on other incomes
Situation 1 Nil Nil
Situation 2
Situation 3
Situation 4
Situation 5
Situation 6
Situation 4 Situation 5
R2.1-2b SURCHARGE WHEN A DOMESTIC COMPANY PAYS TAX UNDER SECTION 115BAA OR SECTION 115BAB -
R2.1-2c SURCHARGE WHEN A RESIDENT CO-OPERATIVE SOCIETY PAYS TAX UNDER SECTION 115BAD/115BAE -
R2.1-3 Health and education cess on income-tax -
R2.1-4 Minimum alternate tax/alternate minimum tax -
Tax rateSurcharge -
Adjusted total income/book profit range
Individuals/HUF/AOP/ BOI/artificial juridical person
authority
Notes –1. see 2. HEC -
R2.1-5 Marginal relief -
Individual/HUF/AOP/artificial juridical person having income above Rs. 50 lakh -
Individual/HUF/AOP/artificial juridical person having income between Rs. 1 crore and Rs. 2 crore -
Individual/HUF/AOP/artificial juridical person having income between Rs. 2 crore and Rs. 5 crore -
Individual/HUF/AOP/artificial juridical person having income exceeding Rs. 5 crore -
Rs. 2,495/-
DIRECT TAXES READY RECKONER
AUTHOR : Vinod K. Singhania
PUBLISHER : Taxmann
DATE OF PUBLICATION : March 2025
EDITION : 49th Edition | A.Y. 2025-26 & 2026-27
ISBN NO : 9789364555074
NO. OF PAGES : 800
BINDING TYPE : PAPERBACK
DESCRIPTION
Direct Taxes Ready Reckoner has been a trusted reference on India's Income-tax Act for over four decades. It simplifies complex tax provisions through practical illustrations, break-even tables, and comprehensive guidance on the New Tax Regime. Updated with changes, it also covers procedures under Faceless Tax Proceedings and offers tax-planning insights. This book is intended for the following audience:
• Tax Professionals & Chartered Accountants
• Corporate Tax Departments
• Lawyers & Consultants
• Students & Academicians
• Business Owners & Individuals
The Present Publication is the 49th Edition, updated to incorporate the latest legislative changes by the Finance Bill 2025 (as passed by the Lok Sabha). Applicable for Assessment Years 2025-26 and 2026-27, 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:
• [Amended & Updated] All major changes by the Finance Bill 2025 (as passed by the Lok Sabha) are incorporated and marked
• [Income-tax Bill, 2025] Overview of new provisions vis-à-vis the Income-tax Act, 1961
• [New Tax Regime] Break-even tables comparing old and new regimes
• [Hints for Tax Planning] Practical deductions, allowances, and savings strategies
• [Faceless Tax Proceedings] Step-by-step procedural guidance for e-assessment and appeals
• [Comprehensive Illustrations] Examples and case studies for easy understanding
• [User-friendly Referencers] Organised tables on depreciation, TDS/TCS rates, and cost inflation indices
• [Historical Data] Tax rates of the past ten years plus gold and silver rates for indexation
• [Expert Authorship] Dr. Singhania's extensive expertise in direct taxation ensures reliable analysis