Articles by Mayank Mohanka

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Old vs. New Personal Tax Regime: An Explainer on Making an Informed Choice

Mayank Mohanka 11 February 2023 at 13:00

With a view to rationalize the personal tax slabs and simplifying the complex maze of a plethora of deduction claims of individuals and HUFs in their income tax returns, the Government has introduced a new regime of personal tax, by introducing a new section 115BAC w.e.f. FY 2020-21 and onwards.

Posted in Income Tax | 3 comments | 4716 Views

Understanding Important Tax Audit Reporting Clauses with Funny QAs

Mayank Mohanka 02 October 2022 at 18:12

In this article, I am presenting some hilarious Tax Audit QAs/visualisations conceived and visualised by me, which will help You in understanding all important reporting clauses in the Form 3CD Annexure in the Tax Audit Report (TAR), in a funny yet purposeful and useful manner.

Posted in Income Tax | 4 comments | 14856 Views

Impact Assessment of CBDT Circular on TDS on Benefits or Perquisites u/s 194R

Mayank Mohanka 20 June 2022 at 15:49

Scope & Coverage of Section 194R

Posted in Income Tax | 1 comments | 8283 Views

Can a Certificate issued under CGST Rule 89(2)(m) by a CA, be made a basis, for Arrest u/s 69 read with section 132 of the CGST Act?

Mayank Mohanka 23 May 2022 at 13:32

The recent unfortunate development of the arrest of two CAs by the Officers of CGST, Gurugram Commissionerate, on 18.5.2022, on the ground of alleged issuance of false Certificate in fraudulent availment of ITC and consequent refunds of around Rs.15 crores

Posted in GST | 10944 Views

Time Travel of Avengers Endgame Visualised in Income Tax Act

Mayank Mohanka 19 May 2022 at 08:50

AY 2016-17, AY 2017-18: Fresh Notice u/s 148 can be issued in these cases, with the approval of the specified authority, since they are within a period of three years from the end of the relevant assessment years.

Posted in Income Tax | 12075 Views

The Curious Case of Missing First Proviso to Section 149 & Miscounting of 3 Years, in CBDT Instruction on SC Judgement

Mayank Mohanka 12 May 2022 at 08:55

CBDT has issued Instruction No. 01/2022, dated 11.5.2022, containing Guidelines for Implementation of SC Judgement in the case of 'Union of India vs Ashish Agarwal (2022 SCC Online SC 543), dated 4.5.2022.

Posted in Income Tax | 1 comments | 13338 Views

New Timelines for Validity of Old 148 Re-Assessments Notices as per SC Judgement

Mayank Mohanka 06 May 2022 at 15:16

In this Article, the Author has tried to capture all the nuances and practical implications of the Hon'ble Supreme Court judgement on Validity of Old 148 Re-Assessment Notices, and gives a Clear and Unambiguous Picture & Guidance on the New Valid Timelines for Validity of such impugned Re-assessment Notices, in accordance with the directions given in the SC judgement.

Posted in Income Tax | 7710 Views

What's in a Face? - A Poetic Tribute to the New Era of Faceless Assessments

Mayank Mohanka 25 April 2022 at 08:50

Friends, it is often said that a "Poem" conveys your thoughts in lesser words but with a greater impact. So, here is my "Poetic Tribute to the New Era of Faceless Assessments" in my Poem titled, "What's in a Face?". The entire scheme of Faceless Assessments has been explained beautifully in a poetic manner in this Poem.

Posted in Income Tax | 3 comments | 4935 Views

Can GAAR override DTAA?

Mayank Mohanka 04 March 2022 at 08:39

In this article, I am making an honest and sincere attempt to find a plausible, logical and well-reasoned answer to this complicated question, analysing the applicable provisions of the Constitution of India, the Income Tax Act, 1961

Posted in Income Tax | 4695 Views