Direct Taxes Manual is one of the most exhaustive statutory reference compilations in Indian direct taxation, maintaining its position as an authoritative practitioner's desk reference for 56 consecutive annual editions. The 2026 Edition marks the transition from the Income-tax Act 1961 to the Income-tax Act 2025 (Act No. 30 of 2025).
Present Publication: 56th Edition | 2026
Editor: Taxmann's Editorial Board
The three-volume set covers the Income-tax Act 2025, Finance Act 2026, Income-tax Rules 2026, subordinate legislation, procedural schemes, tax administration frameworks, judicial precedents, CBDT Circulars and Notifications, and judicially defined statutory terms.
Key Features
- Income-tax Act 2025 — Primary Statute: The first edition to present the Income-tax Act 2025 (Act No. 30 of 2025) as the primary statute, fully amended by the Finance Act 2026, with chapter-wise arrangement, editorial cross-references to the 1961 Act, Allied Laws Appendix, and subject index.
- Finance Act 2026 — Both Regimes Covered: Complete text covering amendments to both the Income-tax Act 1961 and Income-tax Act 2025, along with Chapter VI and the First Schedule containing tax rates.
- Bi-Directional Cross-Reference Tables — Acts, Rules & Forms: Six exhaustive cross-reference tables covering ITA 1961 ↔ ITA 2025, IT Rules 1962 ↔ IT Rules 2026, and IT Forms 1962 ↔ IT Forms 2026.
- Income-tax Rules 2026 — Complete Text with Computational Illustrations: Complete Rules incorporating G.S.R. No. 198(E) dated 20-03-2026, with computational illustrations, including Rule 81 TNMM weighted average PLI calculations.
- Landmark Rulings of Supreme Court & High Courts (1922–February 2026): Over a century of judicial precedent systematically re-indexed section-by-section against the Income-tax Act 2025, with corresponding 1961 Act references.
- Words & Phrases Judicially Defined: Dedicated compilation of significant statutory terms interpreted by the judiciary, with structured digests of Supreme Court and High Court rulings.
- CBDT Circulars, Clarifications & Notifications (1961–February 2026): Comprehensive archive of CBDT administrative guidance organised by section of the Income-tax Act 2025 with corresponding 1961 Act references.
- 28 Divisions of Subordinate Legislation: Volume 2 covers the complete spectrum of direct tax procedural and administrative law, including Income-tax Rules 2026, ICDS, faceless proceedings, e-Appeals, e-Advance Rulings, e-Dispute Resolution, ITAT Rules, Capital Gains Accounts Scheme, DRP Rules, and other frameworks.
- Foreign Assets of Small Taxpayers Disclosure Scheme 2026: Complete text of the newly introduced scheme is reproduced in Volume 1.
- Direct Tax Vivad Se Vishwas Framework: Complete Scheme, Rules, notifications, and circulars consolidated in Volume 1.
Who Should Use This Book?
- Chartered Accountants & Tax Consultants: For current-year compliance under the ITA 2025 alongside legacy 1961 Act assessments, with cross-reference tables for transitional navigation.
- Advocates & Litigation Specialists: For High Court and Supreme Court work requiring access to judicial digests from 1922 to February 2026 and judicially defined words and phrases.
- Corporate Tax & Transfer Pricing Teams: For transfer pricing compliance, APA procedures, safe harbour rules, ICDS, MAT/AMT, and IFSC-related exemptions.
- Non-Profit Organisations & Their Advisors: For the expanded NPO regime covering registration, corpus donations, accumulated income, taxable regular income, regime switching, and commercial activities.
- Government Tax Officers (IRS/CBDT): For faceless proceedings schemes, CBDT circulars, and administrative provisions.
- Financial Institutions & Banks: For TDS/TCS, ICDS compliance, and recognised provident and superannuation fund rules.
- Law Faculty & Tax Researchers: For a comprehensive single-source judicial record of Indian income-tax law spanning over a century.
Volume-wise Coverage
- Volume 1 — Acts (1,468 Pages | As amended by Finance Act 2026)
- Cross-reference Concordance Tables: ITA 1961 ↔ ITA 2025, including bi-directional mapping.
- Income-tax Act 2025 (Act No. 30 of 2025): 536 sections, 23 chapters, and 15 Schedules, as amended by Finance Act 2026, with editorial footnotes, Allied Laws Appendix, and subject index.
- Finance Act 2026: Complete text including tax rates for both Acts and all amendment provisions.
- Prohibition of Benami Property Transactions Act 1988: As amended to date.
- Securities Transaction Tax Act: As amended by Finance Act 2026.
- Commodities Transaction Tax Act.
- Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015: As amended by Finance Act 2026, along with Black Money Rules 2015.
- Direct Tax Vivad Se Vishwas Scheme 2024: Scheme, Rules, notifications, and circulars.
- Foreign Assets of Small Taxpayers Disclosure Scheme 2026.
- Volume 2 — Rules (1,912 Pages | Incorporating G.S.R. No. 198(E), dated 20-03-2026)
- Cross-reference Tables: IT Rules 1962 ↔ IT Rules 2026 and IT Forms 1962 ↔ IT Forms 2026.
- 28 Divisions: Subordinate legislation, procedural schemes, and tax administration frameworks.
- Volume 3 — Judicial & Administrative Reference (1,746 Pages | Amended up to March 2026)
- Division 1 — Schemes: 14 schemes covering ELSS, PPF, Sukanya Samriddhi, Kisan Vikas Patra, Senior Citizens Savings, Tax Return Preparer, Benami Adjudicating Authority Service Rules, Tonnage Tax Training Guidelines, AAR Appointment Rules, Income-tax Welfare Fund Rules, and others.
- Division 2 — Words & Phrases Judicially Defined: Section-key, alphabetical-key, and full judicial digests.
- Division 3 — CBDT Circulars, Clarifications & Notifications: Coverage from 1961 to February 2026 with section-key, alphabetical-key, and full texts.
- Division 4 — Landmark Rulings of Supreme Court/High Courts: Coverage from 1922 to February 2026 with section-key, alphabetical-key, and full judicial digests.
Structure of the Book
- The three-volume set follows the natural hierarchy of legal authority: Primary Legislation (Volume 1) → Subordinate Legislation & Procedural Rules (Volume 2) → Interpretive & Administrative Reference (Volume 3).
- Each volume is organised into numbered, self-contained divisions containing relevant statutory text, rules, sections, and subject indexes wherever applicable.
- Editorial footnotes in the ITA 2025 text cross-reference the corresponding Words & Phrases and CBDT Circular compilations in Volume 3.
- The bi-directional cross-reference tables serve as the primary navigation tools for the transition between the two tax regimes.
- A practitioner working on a legacy assessment under the 1961 Act can navigate to the corresponding provision in the 2025 Act, and vice versa, without leaving the set.
- The three volumes function as an integrated research tool through their footnote architecture, cross-reference tables, and divisional structure.
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