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Tax Expert - Answered on Feb 15, 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
Ashwini Question by Ashwini on Feb 02, 2023Hindi
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I have 2 queries. 1) What amount is exempted under standard deduction in the proposed new tax regime - is it 50,000 or 52500? There is a confusion 2) Is profession tax amounting to Rs. 2500 exempt in the new tax regime - both current and proposed? Please guide

Ans: Standard deduction will be Rs 50,000 for person earning income from salary as per Budget proposal of FY 23 24.

Professional tax deduction will not be available under new tax regime
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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Sanjeev

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is Standard Deduction available in New Tax Regime with respect to all category of income? How much is available. Any other tax exemption is available? Pl. clarify.
Ans: Standard Deduction to the extent of Rs 50,000 for salaried and pensioners is available in the new tax regime from next financial year and not the current one. The answer to your query is as below. I have simply copied it from another website, for your information.

With the revised new tax regime, several exemptions and deductions have been removed as below:-

1. Leave Travel Allowance
2. House rent allowance depending upon salary structure and rent paid
3. Professional tax paid by a maximum of Rs. 2,500/-
4. Deductions available under Section 80TTA and 80TTB that is interest from Savings Account/Deposits
5. Tax deduction on entertainment allowance and deduction on professional tax for government employees
6. The interest amount payable on home loan for a self-occupied or any vacant property u/s 24 maximum deductions of Rs 2 lakhs
7. Deduction of Rs 15,000 allowed from family pension under clause (ii) (a) Section 57
8. Special Allowances that are provided under Section 10(14) except:
9. Transport allowance granted to a disabled employee
10. Conveyance allowance
11. Any allowances granted for meeting the cost of travel on tour or transfer of an employee
12. Daily allowance
13. Perquisites
14. Business owners and professionals will lose the exemption to Special Economic Zones under Section 10AA.
15. Deductions under Section 32AD, 33AB, 33ABA, 35(1)(ii),35(1)(ii( (a), 35(1)(iii), 35(2AA), 35AD and 35CCC of the Income Tax Act.
16. Options of additional depreciation under Section 32(ii) (a) of the Income Tax Act
17. The option to carry forward or unabsorbed depreciation of earlier years
18. Tax-saving investment deductions under Income Tax Act , Chapter VI-A 80C, 80D, 80E, 80CCC, 80CCD, 80D, 80DD, 80DDB, 80EE, 80EEA, 80EEB, 80G, 80GG, 80GGA, 80GGC, 80IA, 80-IAB, 80-IAC, 80-IB, 80-IBA, etc. These tax-saving investment options include ELSS, NPS, PPF tax relief on mediclaim insurance premium, FDR, dependents who are differently-abled, expenses for specified medical treatments, interest on education loan and many more.



Exemptions that remain prevalent in the new revised system, that you can claim:

1. Standard deduction for salaried and pension class of Rs 50,000.
2. Interest received on Post Office Savings Account under Section 10(15)(i) the maximum amount of Rs. 3,500.
3. Gratuity received from employer up to a maximum amount of Rs. 20 Lacs.
4. Amount received from Life Insurance Policy on maturity under Section 10(10D).
5. Employer contribution in NPS or EPF up to 12% of salary and interest on EPF up to 9.5% p.a.
6. Income from Life Insurance.
7. Income from agricultural farming.
8. Standard reduction on rent.
9. Retrenchment compensation.
10. Leave encashment on retirement.
11. VRS proceeds up to Rs 5 lacs.
12. Retirement cum death benefit.
13. Money received as a scholarship for education.
14. Interest and maturity amount of PPF or Sukanya Smriddhi Yojna.
15. Commutation of Pension.
16. The new tax regime offers you to claim deductions u/s 80CCD(2) (employers contribution in notified pension scheme) and 80JJAA (for new employment).

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Which is better option CSE in HMR Institute OR IT IN Akhilesh das gupta.
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Recommendation: For stronger average placement percentages, metropolitan industry exposure and a focused CSE curriculum, recommendation is HMR Institute CSE. If you prioritise broader accreditation credentials, a dedicated CRC, and slightly higher median IT placements, choose ADGITM IT. All the BEST for Admission & a Prosperous Future!

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I have got amrita blr campus eee, 9814 rank in comedk. I might get CSD in DSCE or any other branch through comedk. My hs is WB soni might take admission in cse in techno mains . What should i choose?
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Given assured admission, strong EEE infrastructure, and higher placement stability, recommendation is Amrita Bengaluru EEE. If you prioritize core CS specialization in design and AI, pursue Techno India Kolkata CSE (AI & ML). Avoid DSCE CSD due to rank constraints. All the BEST for Admission & a Prosperous Future!

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Sir sastra Thanjavur cse(AIDS) , Vit vellore cse , manipal benguluru cse Which is better
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My son is admitted in IIT Jammu for MTech in Bio Sciences and Bio Engineering with specialisation in Medical Equipment. Is this a right choice for his placement after MTech. Or he should persue a PhD program later.
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Asked by Anonymous - Jul 05, 2025Hindi
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Hello sir, My son has got CSE in MIT Manipal campus and is also hopeful to get MSc Maths (Dual Degree, that might open a door to get BE-CSE in second year) in BITS Pilani. What is your suggestion he should opt for?
Ans: MIT Manipal’s four?year B.Tech CSE is NBA and NAAC?accredited, taught by 120+ PhD?qualified faculty in specialised AI/ML, cybersecurity, IoT and software?engineering labs, on a Wi-Fi campus with Innovation Centre and global exchange. Its dedicated placement cell recorded 77% overall and ~81% CSE branch placements in 2025, with 230+ recruiters including Amazon, Bosch and Microsoft. BITS Pilani’s five-year integrated M.Sc. Mathematics dual-degree (Group B + BE CSE option) is NAAC A+ rated, led by eminent researchers, offers rigorous master’s-level courses, Practice School internships and capstone projects, with 73.6% batch placements in 2024 and average packages of ?19.7 LPA via top tech recruiters. Dual-degree students compete for BE-CSE seats after Year 1 based on CGPA, adding flexibility for a software career.

Final recommendation: If your son seeks research depth, a master’s credential, and the chance to pivot into BE-CSE in Year 2, choose BITS Pilani M.Sc. Mathematics Dual-Degree. Else, for strong immediate placements, cutting-edge labs, and a four-year timeline, the recommendation is MIT Manipal CSE for him. All the BEST for Admission & a Prosperous Future!

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