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Mihir

Mihir Tanna  |1018 Answers  |Ask -

Tax Expert - Answered on May 24, 2024

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
Asked by Anonymous - Feb 20, 2024Hindi
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I have a purchased an under construction property in June 2022 for which housing loan I took in March 2023 .The property will be ready to move in by 2026.Can I claim Income tax exemption for the interest towards housing loanI am paying now

Ans: Deduction on home loan interest can be claimed when the house construction is completed in 5 equal installments in subsequent years.
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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From Tamilnadu - My son (9th grader) is a creative person with deep interest in tech, electronics and music. From his young age, I see him scribbling designs of various machines, it started with car designs, then robo design, laptop and now he develops good electronic projects based on Arduino. As far as competitive exams and problem solving skills are concerned he isn't natural but with practice he can do. He scores above 90% in cbse exams but I never asked to write any competitive as I felt it would pressure his creative side. Now, my question is should I put him through this competitive jee race or I opt for a Tamilnadu state board school where he has less complexity more rote learning and can get through within top 10 anna university based colleges just with his board cutoff. I am highly sceptical about jee- being a general category male student, it highly discourages me to take the gamble as it may affect his mental health. Also, after all the effort, there is a high chance that he may have to go to a deemed University based on management seats. Now my question is problem solving and competitive focus of jee and conceptual learning of cbse are going to help him anyway in the future in his workplace? I am afraid that he will lose his hobby and strength in the rat race. Kindly advice.
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