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Mihir

Mihir Tanna  |1090 Answers  |Ask -

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
Manish Question by Manish on Feb 01, 2023Hindi
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Is there any change in the investment limit to save taxes ..? What will be the impact on taxe if your earning comes under 20L+ category..?

Ans: No change in investment limit to save tax in Budget proposals for FY 23-24.

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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Ramalingam

Ramalingam Kalirajan  |10894 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Jul 31, 2024

Asked by Anonymous - Jul 24, 2024Hindi
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I'm 27. Working in IT sector with annual package of 26L. Which tax regime if beneficial? Considering changes made in latest budget2024. I have following investments. PPF, SSY, NPS, thinking to opt for Corporate NPS option too.
Ans: Choosing the right tax regime can be tricky, but understanding your investments and goals can help. Here's a detailed plan to help you decide.

Current Financial Situation
Age: 27 years
Profession: IT sector
Annual Income: Rs. 26 lakhs
Investments: PPF, SSY, NPS
Considering: Corporate NPS
Understanding Tax Regimes
1. Old Tax Regime

Deductions: Offers various deductions like 80C, 80D, and more.
Exemptions: Includes HRA, LTA, and others.
2. New Tax Regime

Lower Rates: Provides lower tax rates but no deductions or exemptions.
Simplified: Easier for those with fewer investments.
Analyzing Your Investments
1. Public Provident Fund (PPF)

Benefits: Tax deduction under Section 80C. Tax-free interest.
Long-Term: Great for long-term wealth accumulation.
2. Sukanya Samriddhi Yojana (SSY)

Benefits: Tax deduction under Section 80C. Tax-free returns.
Goal-Oriented: Ideal for securing your daughter’s future.
3. National Pension System (NPS)

Benefits: Additional deduction under Section 80CCD(1B). Partial tax-free withdrawals.
Retirement Planning: Helps in building a retirement corpus.
Benefits of Corporate NPS
Employer Contribution: Additional tax benefits if your employer contributes.
Flexibility: Offers flexibility in choosing investment options.
Tax Regime Decision
1. Calculate Deductions

Old Regime: Calculate total deductions including 80C, 80D, and others.
Compare: Check if total deductions significantly reduce your taxable income.
2. Evaluate New Regime

Flat Rates: Compare the tax payable under the new regime with lower rates.
Simplicity: Easier filing if you don't need deductions.
Recommended Approach
1. Use Old Tax Regime

For Maximizing Deductions: If total deductions and exemptions significantly lower your taxable income.
2. Switch to New Regime

If Simplified: If deductions are minimal and you prefer simpler filing.
Steps to Optimize Tax Savings
1. Maximize 80C Limit

Invest Fully: Ensure PPF, SSY, and NPS contributions utilize the Rs. 1.5 lakh limit.
2. Additional NPS Benefit

Section 80CCD(1B): Invest an additional Rs. 50,000 in NPS for extra tax benefits.
3. Health Insurance

Section 80D: Get health insurance for additional tax deductions.
Future Investments
1. Diversify

Mutual Funds: Consider SIPs in equity mutual funds for long-term growth.
Avoid Real Estate: Focus on financial assets for better liquidity and returns.
2. Emergency Fund

Build Savings: Set aside at least 6 months’ expenses in a liquid fund.
3. Regular Review

Annual Check: Review your investments and tax-saving strategies every year.
Final Insights
Choosing the right tax regime depends on your investment profile. If you have significant deductions, the old regime is beneficial. If simplicity and lower rates appeal to you, consider the new regime. Keep investing in PPF, SSY, and NPS for long-term growth and tax benefits.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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Nayagam P

Nayagam P P  |10858 Answers  |Ask -

Career Counsellor - Answered on Dec 16, 2025

Asked by Anonymous - Dec 13, 2025Hindi
Career
Hello sir I have literally confused between which university to pick if not good marks in mht cet Like sit Pune or srm college or rvce or Bennett as I am planning to study here bachelors and masters in abroad so is it better to choose a government college which coep and them if I get them my home college which Kolhapur institute of technology what should I choose a good university? If yes than which
Ans: Based on my extensive research of official college websites, NIRF rankings, international recognition metrics, placement data, and masters abroad admission requirements, your choice between COEP Pune, RVCE Bangalore, SRM Chennai, Bennett University Delhi, and Kolhapur Institute of Technology (KIT) fundamentally depends on five critical institutional aspects essential for successful masters admission abroad: global research output and international collaborations, CGPA-based competitiveness (minimum 7.5-8.0 required for top international programs), faculty expertise in emerging technologies, international student exchange partnerships, and proven alumni track records at globally-ranked universities. COEP Pune ranks nationally at NIRF #90 Engineering with India Today #14 Government Category ranking, offering robust infrastructure and 11 academic departments with research centers in AI and renewable energy, though international research collaborations are moderate compared to IITs. RVCE Bangalore demonstrates strong national standing with consistent COMEDK admissions competitiveness, excellent placements averaging Rs.35 LPA with highest at Rs.92 LPA, and established international collaborations through Karnataka PGCET-based MTech programs, providing solid foundations for masters applications. SRM Chennai maintains extensive research partnerships with 100+ companies visiting campus, highest packages reaching Rs.65 LPA, and documented international research linkages through sponsored programs like Newton Bhaba funded projects, significantly strengthening masters abroad candidacy through diverse research exposure. Bennett University Delhi distinctly outperforms others in international institutional alignment, recording highest placements at Rs.137 LPA with average Rs.11.10 LPA, explicit academic collaborations with University of British Columbia Canada, Florida International University USA, University of Nebraska Omaha, University of Essex England, and King's University College Canada—these partnerships directly facilitate seamless masters transitions abroad and represent unparalleled institutional bridges to international graduate programs. KIT Kolhapur records respectable placements at Rs.41 LPA highest with average Rs.6.5 LPA, NAAC A+ accreditation, autonomous institutional status under Shivaji University, and 90%+ placement consistency across technical streams, though international research visibility and foreign university partnerships remain comparatively limited. For international masters admission success, universities globally prioritize bachelors institution reputation, minimum CGPA 7.5-8.0 (Bennett and SRM facilitate this through curriculum rigor), GRE/GATE scores (minimum 90 percentile), English proficiency (TOEFL ≥75 or IELTS ≥6.5), research output documentation, and faculty recommendation quality reflecting institution's research culture—criteria most strongly supported by Bennett's explicit international collaborations, SRM's documented research partnerships, and COEP's autonomous departmental research centers. Bennett simultaneously offers global pathway programs reducing masters abroad costs through articulation agreements and provides curriculum aligned internationally with partner institution standards, representing optimal intermediate bridge structure versus direct masters application. The cost-effectiveness and structured transition support through international partnerships, combined with demonstrated placement success and faculty research visibility, position these institutions distinctly above KIT Kolhapur for masters abroad aspirations. For your specific objective of pursuing masters abroad, prioritize Bennett University Delhi first—its explicit international university partnerships with Canadian, American, and European institutions, highest placement packages (Rs.137 LPA), and structured global pathway programs create seamless masters transitions with reduced costs. Second choice: SRM Chennai, offering extensive research collaborations, documented international linkages, and competitive placements (Rs.65 LPA highest) strengthening masters applications. Third: COEP Pune, delivering strong national standing and autonomous research infrastructure. Avoid RVCE and KIT due to limited international visibility and explicit foreign university partnerships compared to the above three institutions. All the BEST for a Prosperous Future!

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