Articles by Mayank Mohanka

Even if you secure 0, go and give your exam

Posted by Mayank Mohanka 19 June 2023 4755 Views

On the eve of Father's Day, my memories took me back to my CA Intermediate Exam days. It was the Accounts exam- the first one, in group one, among the total six papers in two groups in CA intermediate syllabus.

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

Posted by Mayank Mohanka 11 February 2023 6164 Views

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.

Understanding Important Tax Audit Reporting Clauses with Funny QAs

Posted by Mayank Mohanka 02 October 2022 20014 Views

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.

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

Posted by Mayank Mohanka 20 June 2022 9258 Views

Scope & Coverage of Section 194R

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?

Posted by Mayank Mohanka 23 May 2022 20402 Views

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

Time Travel of Avengers Endgame Visualised in Income Tax Act

Posted by Mayank Mohanka 19 May 2022 20880 Views

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.

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

Posted by Mayank Mohanka 12 May 2022 14488 Views

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.

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

Posted by Mayank Mohanka 06 May 2022 8496 Views

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.

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

Posted by Mayank Mohanka 25 April 2022 5390 Views

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.

Can GAAR override DTAA?

Posted by Mayank Mohanka 04 March 2022 5042 Views

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