Taxmann’s Handbook on Taxation of Partnerships, Firms & Limited Liability Partnerships – Frequently Asked Questions by AIFTA – 2nd Edition 2026.

Main Description / Overview

Undeniably, this comprehensive question-and-answer treatise makes complex firm economics very clear. For instance, the text reads the newly codified frameworks directly against older statutory frameworks seamlessly.

Consequently, readers easily grasp the exact statutory modes of executing daily partner evaluations. Ultimately, it logically organizes the massive subject into four hundred and thirty-seven numbered questions across twenty-four chapters.

Furthermore, it covers everything from basic inception agreements to complex cross-border permanent establishment rules. Therefore, it acts as an essential daily reference tool for handling complicated restructuring litigations.

Target Audience

Clearly, this practice-oriented book serves Indian professional firms and legal consultants directly. Therefore, it gives direct help to these specific users.

• First, it supports tax practitioners presenting arguments during rigorous assessment proceedings.

• Second, it helps in-house tax counsels managing complex family-owned businesses.

• Third, it guides corporate accountants evaluating strict cross-border restructuring conversions.

Key Features of the 2nd Edition 2026

Significantly, the authors updated this unique legal resource perfectly. As a result, it offers several highly useful tools for readers.

• First, it integrates the fundamental statutory transitions of the Income-tax Act 2025 flawlessly.

• Furthermore, it includes thirteen specimen deeds alongside complete worked case studies directly.

• Specifically, it provides clear section-mapping tables between the old and new tax codes.

• Moreover, it explains the complex rules of the four new Labour Codes clearly.

• Additionally, it incorporates the newly enabled asset reconstitution provisions under Sections 8 and 67(10) perfectly.

Detailed Chapter Breakdown

Structurally, the book covers all major partner codes across distinct lifecycle blocks. Initially, it maps the foundational legal framework of primary firm registrations perfectly.

• First, it clearly explains the core principles of admitting Hindu Undivided Families (HUFs) and minors.

• Next, it fully details the exact procedures for calculating capital gains under Rule 6 and Rule 50.

• Furthermore, it perfectly outlines the strict regulations regarding self-generated goodwill treatment.

• Moreover, it tackles the complex rules regarding individual liability and the decriminalisation of certain TDS offences.

• Finally, it details the strict statutory approaches towards managing maximum marginal rates within Associations of Persons (AOPs).

Details