Articles by Mayank Mohanka

All You Wish to Know about New TDS Sections 194R, 194S & Much More

Posted by Mayank Mohanka 26 February 2022 15255 Views

The Finance Bill 2022 has proposed two completely new TDS sections, 194R and 194S, in the Income Tax Act, to be made effective from 1.7.2022.

How Will Russia's Invasion of Ukraine Affect Taxes & Trade in India?

Posted by Mayank Mohanka 25 February 2022 9045 Views

As I am penning down this piece, the market capitalisation worth Rs. 13.4 lakhs crores have already been eroded with BSE index plunging by 2700 points and NSE index tanking by 815 points, on account of Russia’s launching of a special military operation cum all-out invasion by land, air and sea of Ukraine on 24.2.2022.

Unsuccessful Appeal Submissions Turned into Explanatory Memorandum to Finance Bill!!

Posted by Mayank Mohanka 24 February 2022 3360 Views

Let us analyse some of these budget amendments proposed in the Finance Bill, 2022, aimed at overturning the well-known and established judgements

The Curious Case of Missing Elaichi (Cardamom) in my Paan (Betel Leaf)

Posted by Mayank Mohanka 17 February 2022 8545 Views

(Ramu Kaka, please give me my special sweet Pan, without betel nut)", I told our next door ‘Pan wala' (Pan vendor), Ramu kaka, while returning from my late evening stroll, after my dinner.

The Tale of 'Arth', 'Shashtri' and the 'New TDS on Perks'

Posted by Mayank Mohanka 07 February 2022 7276 Views

Yes, it was the Budget Day. Two close friends, 'Arth'- a businessman and 'Shastri' - a CA, went out for a stroll in late evening.

Practical Examples on CBDT Circular on TDS on Purchase of Goods u/s 194Q

Posted by Mayank Mohanka 14 July 2021 18483 Views

Explaining all the significant clarifications/guidelines issued by CBDT regarding the implementation of the provisions of section 194Q w.e.f. 1.7.2021 with practical illustrations.

Understanding New TDS Provisions on Purchase of Goods u/s 194Q with Practical Examples

Posted by Mayank Mohanka 02 July 2021 8586 Views

In this Taxalogue, the new provisions of TDS on purchase of goods, contained in section 194Q, applicable w.e.f. 1.7.2021, is being explained with the help of some easy to understand practical illustrations.

Representation to FM on Remedial Measures for Glitches in New E-Filing Portal

Posted by Mayank Mohanka 21 June 2021 9216 Views

In this representation, the author has made an honest and sincere attempt to practically demonstrate the technical glitches and currently non-functioning functionalities of the new e-Filing portal.

When You Go For Seeking Adjournment & End Up in Winning Your Case!!!

Posted by Mayank Mohanka 07 May 2021 1828 Views

The author has shared one of his cases that lead to an amendment in the Income-tax Act, allowing Power Sector Companies to compute their Book Profits for the purpose of MAT either on the basis of the Electricity Regulatory Act or the Companies Act.

Fasting for Stranded Resident Indians & A Half-Baked Cookie for NRIs!!

Posted by Mayank Mohanka 09 March 2021 1399 Views

CBDT fails to recognise that the question is not of the double taxation issue but the probable adverse taxation consequences arising out of an individual's changed residential status due to his/her forced stay of more than 182 days in India, due to COVID.