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Mihir

Mihir Tanna  |1019 Answers  |Ask -

Tax Expert - Answered on Feb 02, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
SK Question by SK on Feb 01, 2023Hindi
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Please clarify whether tax exemption on Expenditure for Car/Two wheeler maintenance, uniform maintenance, HRD, conveyance allowance, LTC are admissible in New Tax Regime.

Ans: If person opt for new tax regime, allowance like Conveyance Allowance granted to meet the expenditure on conveyance in performance of duties of an office; any Allowance granted to meet the cost of travel on tour or on transfer; Daily Allowance to meet the ordinary daily charges incurred by an employee on account of absence from his normal place of duty etc
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Asked by Anonymous - Feb 25, 2025Hindi
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Hi. I am a BITS pilani graduate (2017) but i haven't achieved massive success when compared to my peers. I am preparing of UPSC for past 3 years along with my job, hoping to crack UPSC in 2025 or 2026. I am ashamed to meet my juniors and seniors of my college. Do you think by cracking upsc my fortunes will change and have a reputation among the alumni?
Ans: Hello
The real success is being at peace with oneself. This may sound bit philosophical but it is a profound stuff.
Unfortunately our societal orientation has so strongly imbibed the outside-in approach for most aspects of our life while it should be exactly opposite i.e. inside-out. To simplify, real success is not about meeting benchmarks set by someone else rather striving for leading a wholesome life as per own yardsticks wherein material/career elements are only one part of it. It is not to demean/undervalue something but assigning equal/appropriate weightage to all aspects of what makes us alive - health, family, relationships, sharing/caring etc. hence there is absolute no reason for you to feel ashamed merely basis some perceived/incomplete notions. Yes we should continue to strive for enhancements in life in all areas but do it for personal satisfaction and not for others hence there is no reason to feel stressed rather our goals if set right should energize us & give us a larger purpose in life.
Therefore look at things from a larger prism & not merely to gain some 'random perceived gains' that will again be shor-tlived.
All the Best!!
Major Inderpaul
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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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