Direct Tax Law & Practice As Amended by Finance Act, 2026 (Professional Edition)

This 18th Professional Edition of Direct Tax Law & Practice, 2026 is a comprehensive and authoritative guide designed for chartered accountants, tax practitioners, advocates, finance professionals, corporate executives seeking an in-depth understanding of India's direct tax laws. Authored by CA. (Dr.) Girish Ahuja and CA. (Adv.) Rahul Agrawal, this edition has been thoroughly updated in accordance with the provisions of the Income Tax Act, 2025, as amended by the Finance Act, 2026, ensuring complete alignment with the latest legislative framework and taxation practices.

Blending statutory provisions with practical application, the book explains the principles of direct taxation through detailed analysis, illustrations, examples, and tax planning strategies. It serves as both a professional reference and an academic resource, enabling readers to understand not only the law but also its practical implications in tax computation, compliance, and advisory work.

The book comprehensively covers:

• Fundamental concepts and framework of Direct Taxation
• Residential Status and Scope of Total Income
• Heads of Income – Salaries, House Property, Business or Profession, Capital Gains, and Other Sources
• Computation of Total Income and Tax Liability
• Deductions, Exemptions, Rebates, and Reliefs under the Income Tax Act
• Set-off and Carry Forward of Losses
• Clubbing of Income and Deemed Income Provisions
• Taxation of Individuals, HUFs, Firms, LLPs, Companies, Trusts, and Non-residents
• Tax Planning with Practical Illustrations
• Assessment Procedures, Appeals, Revision, and Rectification
• TDS, TCS, Advance Tax, Self-Assessment Tax, and Return Filing Provisions
• Penalties, Prosecution, Search and Seizure, and Recovery Procedures
• International Taxation and Transfer Pricing Concepts
• Recent amendments introduced by the Finance Act, 2026, along with updated tax rates and compliance requirements

This edition is particularly suitable for:

• Chartered Accountants and tax consultants requiring a detailed professional reference
• Advocates and legal professionals dealing with direct tax litigation and advisory matters
• Finance and corporate professionals responsible for tax planning and regulatory compliance
• Candidates preparing for professional and competitive examinations involving direct taxation
Whether used for professional practice, tax planning, academic learning, or examination preparation, this updated Professional Edition delivers a thorough understanding of direct tax law and practice, combining legislative accuracy with practical insights to meet the evolving needs of taxation professionals alike.