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Direct Taxes Ready Reckoner

(35th Edition 2012 (A.Y 2012-13 & 2013-14)

Contents
PAGE About the Author Abbreviations Section-wise Index 7 8 9

PART A
STUDY OF DIRECT TAXES
REFERENCER
1. Tax rates for the assessment years 2012-13 and 2013-14 2. Amendments at a glance 3. Tax rates for the last ten assessment years 4. Gold and silver rates for the current year, last ten assessment years and on April 1, 1981 5. Tax saving schemes at a glance 6. Rates of depreciation Under the Income-tax Act - For the assessment year 2003-04 onwards - For power generating units from the assessment year 1998-99 Under the Companies Act 7. Deductions and allowances under the Income-tax Act 8. Provisions of sections 44D, 44DA and 115A in brief 9. Computation of income and tax under sections 115A, 115AB, 115AC, 115AD, 115BBA and 115D 10. Withholding tax rates 11. Period of limitation under Income-tax Act 12. Time-limit for issue of notice during 2012-13 under section 148 13. Provisions of sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA and 54H 14. Dates with direct taxes 11 26 82 86 87

89 95 97 102 106 108 112 118 130 131 133

DIVISION 1 - INCOME-TAX
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 Agricultural 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 Special procedure for assessment of search cases A-1 A-10 A-60 A-74 A-133 A-189 A-204 A-207 A-214 A-282 A-283 A-286 A-303 A-310 A-325 A-328 A-367 A-403 A-414

Tax clearance certificate Tonnage tax Securities transaction tax Fringe benefit tax Banking cash transaction tax

A-415 A-417 A-418 A-420 A-420

DIVISION 2 - WEALTH-TAX
Computation of wealth-tax liability A-421

PART B
TAX TABLES
DIVISION 1 - INCOME-TAX
AY 2012-13 AY 2013-14

Individuals, HUFs and AOPs Firms Domestic companies Foreign companies Co-operative societies Tax deduction at source DIVISION 2 - WEALTH-TAX
Individuals, HUFs and companies

B-1 B-31 B-31 B-33 B-35

B-16 B-31 B-31 B-33 B-35 B-37

B-40

PART C
MARKET QUOTATIONS
EQUITY SHARES - FAIR MARKET VALUE ON APRIL 1, 1981 GOLD AND SILVER C-1 C-14

PART D
TAX TABLES OF PAST TEN YEARS (Assessment years 2002-03 to 2011-12)
DIVISION 1 - INCOME-TAX Individuals, HUFs and AOPs Companies DIVISION 2 - WEALTH-TAX
Individuals, HUFs and companies B-40 D-1 D-22