Articles by Mayank Mohanka
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Impact of drastic fall in crude oil prices on Indian Economy
A negative price suggests, instead of buyers paying the sellers, sellers were paying buyers, $37 per barrel of crude oil, along with the crude oil.The producers (who dig the oil) didn't want it. The refiners won't touch it. And the consumers have no need for it.At the close of trading hours, the Crude OIL WTI future price breached the $0 level.
All about RBI's initiative of Liquidity Infusion amidst COVID-19
Water Water Everywhere, Not a Drop to Drink: RBI's Liquidity Infusion Initiatives announced on 17th April 20
Re-Run of the Classical System of Taxing Dividends in the hands of Recipients, like the Re-Run of "Ramayana"
The Finance Act 2020 has re-introduced the classical system of taxing dividend income in the hands of recipient shareholders at their respective applicable slab rates and the domestic companies or mutual funds are not required to pay any DDT on such dividend income, w.e.f. AY 2021-22, i.e. w.e.f. 1.4.2020.
New equalisation levy & TDS on e-commerce transactions
Equalisation Levy will now be extended to an e-commerce operator on e-commerce supply and services undertaken on or after 1 April, 2020. The scope of equalisation levy was extended to E-commerce operator in Finanace Act 2020.
Section 115BAC- Is the new Income Tax Regime beneficial?
The new income tax regime u/s 115BAC has come into effect from financial year 2020-21. It is optional to opt for the New Tax Regime. Here is a break-even analysis od the New Income Tax regime.
Digital transformation of Indian tax administration
Digital Transformation of Indian Tax Administration: CBDT's 'Faceless e-Assessments' & CBIC's 'e-Invoicing'
Vicious circle of over ambitious revenue collection target by Authorities
The Vicious Circle of Setting up of Over-Ambitious Revenue Collection Targets � Revenue Authorities Over-Reaching Taxpayers- Withholding of Refunds!!
Income & Expenditure pertaining to Pre-commencement business period by startups
"To be curious is a good thing and to work towards satisfying ones' curiosity is even better."- Mayank Mohanka
Sections 50C of IT Act resulting in Double Taxation?
Sections 50C/43CA/56(2)(x) of Income Tax Act concerning Adoption of Circle Rates for Computation of Capital Gain/Business Profits/Income from Other Sources on L...
Coercive Recovery Measures of Tax Collection by Revenue Authorities need to change!
As per the existing Legislative framework of the Direct T
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