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Mihir Tanna |706 Answers |Ask -Follow

Tax Expert - Answered on Feb 15, 2023

Asked by Anonymous - Feb 01, 2023Translate

Money

Is new Tax benifit helpfull for salaried employees with packages between 27-30 Lacs per annum

Ans: New tax regime is beneficial if all the tax benefits are not taken. For e.g. if income is 30 lacs and deductions u/s 80C is 150000 taken, tax liability will be Rs.600000 under new tax regime and under old it will be 667500.

However, if person take PPF benefit of 1.5 lac, 25k in mediclaim, housing loan interest deduction 2 lacs, 50k standard deduction from salary; tax liability under old regime will reduce to 585000.

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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Mihir Tanna |706 Answers |Ask -Follow

Tax Expert - Answered on Feb 01, 2023

Question by Prasanna - Feb 01, 2023Translate

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Dear Mihir, what are the key benefits for the salaried employees given that there will be no income tax on employees earning up to Rs 7 lakh? Regards

Ans: In Budget 2023, it is proposed that if person is earning income upto 7 lacs and opting for new tax regime (i.e. forgo deduction on interest on self occupied housing loan, exemption of HRA, deduction on tax saver investment covered in 80C,80D etc); 100% tax rebate will be available and person will not be required to pay tax. In addition to it is also proposed that standard deduction of Rs.50,000 is also available for person opting for new tax regime in FY 2023-24.

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Sanjeev Govila |282 Answers |Ask -Follow

Financial Planner - Answered on Feb 03, 2023

Question by Manoj - Feb 01, 2023Translate

Money

Hi RediffGurus, based on new tax structure announced by FM in today's budget, how much benefit can one expect if he/she was already following new tax-regime and is in higher income bracket (>15 LPA)?

Ans: The tax slabs of >15L is itself very broad and your benefits depend on what sections of Income Tax Act are you taking benefit of like 80C, 80G, 80D, 80E, 24B, and HRA.

Instead of looking at broad tax slabs, please calculate yourself at this calculator as pertaining to yourself and you will be able to decide which tax regime is better for you:-
https://cleartax.in/paytax/TaxCalculator

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Nikunj Saraf |308 Answers |Ask -Follow

Mutual Funds Expert - Answered on Feb 04, 2023

Question by R - Feb 01, 2023Translate

Which tax regime is more beneficial for salaried persons in the annual income bracket of 25 lakh

Ans: Hello R
As a financial advisor, I would advise you to consult a chartered accountant for specific tax planning advice. They have expertise and in-depth knowledge of tax laws and regulations and can provide you with personalized strategies to minimize your tax liability. I can assist you in creating a comprehensive financial plan, but for tax planning, it is best to consult a tax professional.

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Hemant Bokil |71 Answers |Ask -Follow

Financial Planner - Answered on Feb 03, 2023

Question by C - Feb 02, 2023Translate

Money

for whom, opting the new tax regime will be helpful. I am PSU Employee. Should I opt the same?

Ans: Hi C, without actually knowing exact income it's not possible to decide which can be good regime old or new, but roughly the range of income from 12 onwards and better 15 lacs onwards looks good for new regime to benefit more, is what I believe

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Mihir Tanna |706 Answers |Ask -Follow

Tax Expert - Answered on Feb 23, 2023

Question by Anandarup - Feb 03, 2023Translate

Money

My Income is 8.5 Lacs P.A. what is my benefit under new tax regim

Ans: Person getting salary of Rs.8.5 lakh, not claiming much of deduction is likely to save tax under new tax regime, as tax liability is expected to be lower with new slab rate proposed for FY 23-24 under new tax regime

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Stock Market Expert - Answered on Nov 29, 2023

Question by sailen - Nov 29, 2023Translate

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can i buy unitech

Ans: NO

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HR, Workspace Expert - Answered on Nov 29, 2023

Question by Yam - Oct 15, 2023Translate

Career

Sir/madam, I asked this this question many times regarding the placement of my son but unfortunately I did not get my question answered. My son is pursuing B. Tech program from UPES, Dehradun with AI. He is is 5th semester at present. Sir what is the scope of placement for this course from UPES? What will be the average CTC for a candidate in various corporates? Is there any opportunities of placement in government sector? Thanks,

Ans: Dear Yam,
Your son is at 5th semester of BTech from UPES in AI. There is a huge requirement of AI Professionals in the Private sector.
I am sure that the university is going to provide good placements for your son. You can contact the placement cell of the university for better understanding.

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HR, Workspace Expert - Answered on Nov 29, 2023

Question by Sameer - Oct 01, 2023Translate

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Hi I m working In Life insurance company operations Executive 16 years. My qualifications is Graduation in Commerce. I want to learn additional qualification in new things, so that will help to look new opportunities in new field. I am working in MS Excel. Pls suggest.

Ans: Dear Sameer,
Since you have 16 years of experience already, you can upskill yourself by pursuing Executive MBA programs to improve your professional skills and employability.

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HR, Workspace Expert - Answered on Nov 29, 2023

Question by Pardeep - Nov 23, 2023Translate

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Dear Sir, My daughter has just completed her BHMS degree and presently doing internship at Ludhiana. In addition to opening her own clinic and doing practice, what are the options in Govt and Private Sectors for earning her livelihood. Is there any scope for jobs in Govt Hospitals in Punjab and other North States ? Thanks, Pardeep Malhotra

Ans: Dear Pradeep,
BHMS is a good degree.
Nowadays, there is good requirement of Homeopath professionals in various IT companies as well as private hospitals which has homeopath sections.
The best thing would be if she starts her own practice, although initially it would be slow but in the long term it will be beneficial and rewarding.

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Question by anjali - Jul 06, 2023Translate

Career

I have completed B. E. Civil in 2019.But yet I have no job. What can I do?

Ans: Dear Anjali,
There is a huge requirement of Civil Engineering professionals in the market due to the focus on Infrastructure and development by the government as well as huge development of housing projects.
You should keep trying through various job portals and job consultants to get a job soon.

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Samraat Jadhav |1063 Answers |Ask -Follow

Stock Market Expert - Answered on Nov 29, 2023

Question by Mamata Das - Nov 28, 2023Translate

Money

Hello Samraat ji, I request you to guide me on the following stocks. Awl - 161 @ 490 IEX - 250 @ 190 Motherson - 119 @ 112 Panaceabio - 43 @ 294 Amrutanjan - 50 @ 729 Bororenew - 87 @ 500 Sail - 170 @ 106 Vedl - 160 @ 277 Happiestminds - 50 @ 987 Wipro - 200 @ 471 Campus - 100 @ 315 Bodalchem - 100 @ 85 Sbi card - 29 @ 820 I want to get rid of bad stocks and declutter my portfolio. Please help. Thank you.

Ans: Following are the good stocks others plz exit
Amrutanjan, Sail, Happiestminds, Wipro, Campus and SBICard

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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Stock Market Expert - Answered on Nov 29, 2023

Question by dinesh - Nov 29, 2023Translate

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I HAVE MCX SHARE 100@2800/- IS GOOD OFR LONG TERM

Ans: Company with No Debt
Increasing Revenue every quarter for the past 2 quarters
FII / FPI or Institutions increasing their shareholding
Good for Longterm

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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Samraat Jadhav |1063 Answers |Ask -Follow

Stock Market Expert - Answered on Nov 29, 2023

Question by Mamata Das - Nov 28, 2023Translate

Money

Hello Samraat ji, I have 161 AWL shares @ 490. Do you recommend averaging it out now?

Ans: EXIT

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

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Mihir Tanna |706 Answers |Ask -Follow

Tax Expert - Answered on Nov 28, 2023

Question by Podugu - Nov 18, 2023Translate

Money

My children’s fee/ year is around 7 to 8 lakh s Is it claimable , while filling tax returns

Ans: Tuition fee is deductible u/s 80C within overall limit of Rs.1,50,000

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Tax Expert - Answered on Nov 28, 2023

Question by MOHAN - Nov 18, 2023Translate

Money

I am retired and have some investments in mutual fund. If I redeem funds for Rs 3 lacs, how much tax i have to pay and what is the basis of calculation. Thanks

Ans: Tax on redemption of mutual fund depends on holding period and type of scheme. Equity and debt scheme have different tax rate.

Short term gain from equity based schemes will be taxed @15%
Long term gain from equity based schemes will be taxed @10% above 1 lakh
Short term gain from debt based schemes will be taxed slab rate
Long term gain from debt based schemes will be taxed @20%

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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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