Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Apr 28, 2025

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

Question by Prakash on Feb 01, 2025

Money

my CTC is 17 lacs what will be my income tax in both regimes

Ans: Selection of tax regime depends of eligibility of amount of deduction and exemption. Considering income of 17lacs, When amount of deductions/exemption cross 6,50,000; old scheme is likely to be beneficial for the tax payer.

You can calculate tax liability, using advance income tax calculator available at following link:

https://eportal.incometax.gov.in/iec/foservices/#/TaxCalc/calculator

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.

MoneyReply

You may like to see similar questions and answers below

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Feb 07, 2023

Question by Sudhakar - Feb 05, 2023Hindi

Listen

Money

Hi Mihir, My ctc is 21.5lpa which regime i shud opt for . I have home loan . How much tax i shud pay Thnks Sudhakar

Ans: For a higher salary after proposal of Standard deduction and new slab rate under new regime, new tax regime is more beneficial. With CTC 21.5 lacs and housing loan deductions of Rs.2,00,000 for interest and Rs.1,50,000 for 80C (including housing loan principle); tax liability under new old regime will be Rs.3,37,500 and under new regime it will be Rs.3,30,000.

Mahesh Padmanabhan |124 Answers |Ask -Follow

Tax Expert - Answered on Feb 13, 2023

Asked by Anonymous - Feb 09, 2023Hindi

Listen

Money

Hi, My CTC is 19 lakh per annum and have 1.5 lakh under 80C deduction. What would be my tax liability if I take the old tax regime or is it better to switch to new tax regime. Kindly advise.

Ans: Hi
New tax regime would be better for you as you could reduce your tax bill by about Rs. 70,000

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Feb 23, 2023

Asked by Anonymous - Feb 10, 2023Hindi

Listen

Money

My CTC is 28 lac, I am having home loan interest appx 1.5 lac and 80 C 1.5 savings. No NPS . Will new tax regime be benificial or old tax regime?

Ans: Person having taxable income of 28 lakhs and take deduction less than 4.25 lacs from housing loan/80C/80D, can opt for new tax regime as new slab rate is likely to be beneficial as per budget proposed for FY 2023-24

Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Apr 20, 2023

Asked by Anonymous - Apr 19, 2023Hindi

Listen

Money

my ctc is 15lakh. pls advice which tax regime would be better option for me.

Ans: Person should select tax regime based on eligible amount of deductions/exemptions under both tax regime. Usually when person is eligible for maximum of specified limit old tax regime is beneficial.

For e.g. if person is earning income from salary of Rs.15 lacs, eligible for deduction of Rs.1 lakh (say from HRA) and eligible for deduction for tax saver investment of Rs.1 lakh (say from LIC, PPF, Tax saver MF, Mediclaim etc). New tax regime is likely to reduce tax liability for FY 23-24.

However, if we change example and increase deduction from salary to Rs.1.5 lacs and deduction of tax saver investment to Rs.2.5 lacs, old tax regime is likely to beneficial for FY 2023-24.

You can compare tax liability at https://incometaxindia.gov.in/Pages/tools/115bac-tax-calculator-finance-bill-2023.aspx

Vipul Bhavsar |86 Answers |Ask -Follow

Tax Expert - Answered on Apr 04, 2025

Asked by Anonymous - Mar 03, 2025Hindi

Listen

Money

My CTC is 17.40 LPA then how much income Tax will be deducted as per New tax regime. Please Explain as per Tax Slab.

Ans: 138320 for FY 2025-26

Latest Questions

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Question by Viji - May 30, 2025

Career

Sir my brother jee 84.18 shall we go josaa?can we get nit iiit

Ans: Hello Viji
Yes, Go with JoSAA. Chances are very slim for NITs/IIITs. Please explore more options.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Asked by Anonymous - May 30, 2025

Career

I have somewhat 540+ in neet 2025 general category odisha student . Can i get gmc in odisha itself particularly cuttack ??

Ans: Hello dear
Yes. You have chances to get a seat in GMC. Not possible for us to predict about a particular college at this moment.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Asked by Anonymous - May 30, 2025

Career

Sir Please guide which is better for cse Plaksha university or JIIT or Scaler or Bennett university.

Ans: Hello dear
Pferer CSE @ Bennett university.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Asked by Anonymous - May 30, 2025

Career

Can u pl. Guide me syllabus between BCA n CSE core in VIT, how these two courses differ in placements, if studying in VIT.

Ans: Hello dear.
Not possible for us to guide on this issue. Thanks

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Question by Ujjivan - May 30, 2025

Career

Dear Sir, My son got 77 percent in cbse boards and secured 65000 rank in VIT. He got allotment in Btech/Mtech Biotechnology in KIIT in 1st phase and Bioengineering in VIT Bhopal. Please advice which will he consider in view of placement

Ans: Hello Ujjivan
If possible, prefer @ KIIT.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Asked by Anonymous - May 30, 2025

Career

I am scoring nearly 514 in neet 2025 obc+ncl Can I get government medical college in Gujarat through state counselling

Ans: Hello dear
Hopes are alive. Yet you may have to wait till the last round. But keep the private medical college option open if possible.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Asked by Anonymous - May 30, 2025

Career

Sir, I got 402 in neet ug 2025 . I am Defence Priority 2 in Maharashtra domiciled. May I have any chance to get Govt Med College in State level counselling.

Ans: Hello dear
The likelihood of securing a seat in the GMC is low to quite minimal. You must take part in the counseling process at the state level.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Nayagam P P |5559 Answers |Ask -Follow

Career Counsellor - Answered on May 31, 2025

Asked by Anonymous - May 30, 2025

Career

Hello Sir, My son has secured a seat in VIT ECE depat in category 1, hoping fr getting a seat in NIT Surathkal in the dept of Mechanical engineering, as well as he wrote KCET and COMEDK as we come under Karnataka domicile, falling under OBC, he ll get ECE in RV Eng clg or MS Ramaiah thru' both the exams... Additionally he wrote IISER exam n scored 120 marks ... He's much interested in Physics n related to tht.. waiting fr JEE Advanced results as well.. So plz suggest which clg is better to choose...

Ans: Choosing between VIT ECE (Category 1), NIT Surathkal Mechanical, RVCE/MS Ramaiah ECE, and IISER depends on balancing institutional reputation, branch alignment, and career goals. VIT ECE offers robust industry exposure, ABET-accredited labs, and strong placements in electronics, ideal for IT transitions but less aligned with physics. NIT Surathkal Mechanical provides a prestigious NIT brand and core engineering pathways, though mechanical engineering diverges from pure physics interests. RVCE/MS Ramaiah ECE (via KCET/COMEDK) are top Karnataka colleges with rigorous curricula and placement networks, suitable for electronics careers. IISER (120 marks) aligns closely with physics passion, offering research-oriented BS-MS programs and academia pathways, though diverging from engineering. If JEE Advanced qualifies, newer IITs may offer engineering physics or allied branches. Prioritize IISER for science/research aspirations, NIT Surathkal for institutional prestige, or RVCE ECE for regional opportunities. VIT’s Category 1 ensures cost-effectiveness but lacks physics focus. Weigh immediate engineering prospects against long-term academic goals in fundamental sciences. My Suggestion: As far as IISER-IAT is concerned, consider this only if your Son is more interested in research studies compared to engineering. Also, consider only IISER Pune & Kolkata campuses. Secondly, prefer getting admission through JoSAA for IIT/NIT (depends upon your location/campus/branch preferences), followed by KCET, COMEDK and then VIT. All the BEST for your Son's Admission & a Prosperous Future!

Follow RediffGURURS to Know More on 'Careers | Money | Health | Relationships'.

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Question by Rakesh - May 30, 2025

Career

I am getting Jaypee Noida, Electronic and Communication Engineering, ECE and IIMT, College of Engineering, Computer Science with AI, and Symbiosis, Pune, (Civil). I am also getting BioTechnology in DTU. What should I prefer?

Ans: Hello Rakesh
Choosing from so many options is a tough task. You did not mention your interest or hometown. Considering the future era, you can choose CS + AI @ Symbiosis (Pune). Yet keep Jaypee as a backup option.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2568 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 31, 2025

Question by Stakers - May 30, 2025

Career

Hi sir iam expecting 415 mark in neet ug 2025 i beling to obc category , can i get mbbs from state counselling of tamilnadu in govt college or private college through state quota

Ans: Hello Stakers.
Chances are moderate or slim in GMC, but you can hope in a Private college.
Best of luck to you.
Follow me if you like the reply. Thanks
Radheshyam

See more questions »

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.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x