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Rajesh Mehta

Latest Posts by Rajesh Mehta

Section 115BAC: New Tax Regime – Analysis, Comparison and Key Points

April 15, 2024 94647 Views 3 comments Print

Understand Section 115BAC of the Income Tax Act, 1961, and its implications for taxpayers. Explore the new tax regime, its provisions, exemptions, and deductions, helping you make informed decisions for your financial planning.

Critical Analysis of New Reassessment Provisions: Section 148, 148A and 149

July 10, 2023 36291 Views 2 comments Print

Read this critical analysis of the new reassessment provisions introduced by the Finance Act, 2021. Understand the changes in Section 148, 148A, and 149 of the Income Tax Act and their impact on taxpayers. Find an in-depth analysis, interpretations, and a conclusive assessment of the validity of reassessment proceedings.

AIFTP represents Finance Ministry & CBDT for extension of ITR due date

July 24, 2022 10632 Views 0 comment Print

Representation to Finance Ministry and CBDT  to extend due date of filing Income Tax Returns u/s 139(1) of Income Tax Act, 1961 in non-audit cases from 31st July, 2022 to 31st August, 2022.

Liability to deduct section 194R TDS on Benefit or Perquisite in Business or Profession

July 19, 2022 17832 Views 0 comment Print

Any person being Individual/HUF/Company/Firm/LLP etc. providing any benefit or perquisite whether convertible into money or not, is liable w.e.f. 1-7-2022 to deduct TDS U/s 194R @ 10% on the value or aggregate value of such benefit or perquisite.

Tax Incentive to Business / Service sector/ Industry on salary of new employees

May 1, 2021 11307 Views 0 comment Print

Tax Incentive to Business / Service sector/ Industry on salary of new employees On Salary of Rs. 100/- avail tax benefit on Rs. 190/- :- Any business / service sector/ manufacturing industry can claim additional deduction of 30% of salary paid to additional employees, subject to fulfilment of certain conditions. This deduction of 30% of […]

Vivad Se Vishwas- File Declaration Upto 31st Jan., 2021 Without Tax !

January 11, 2021 89823 Views 8 comments Print

DIRECT TAXES : VIVAD SE VISHWAS File Declaration Upto 31st Jan., 2021 Without Tax ! Vivad se Vishwas scheme was introduced with an aim to reduce direct taxes litigations pending at various appellate forums. The scheme has an attractive provision to deposit only tax and waives interest and penalty relating to disputed tax and if […]

Applicability of Section 50C and Section 56(2)(x) / Section 56(2)(vii) of Income Tax Act, 1961 on Rural agricultural land

May 12, 2020 50850 Views 0 comment Print

Applicability of Section 50C and Section 56(2)(x) / Section 56(2)(vii) of Income Tax Act, 1961 on Rural agricultural land Computation of Capital Gain is many times not free from ambiguity. Further, due care is required in cases of transactions of immovable property for a consideration, which is less than the stamp duty value of such […]

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