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Mihir Tanna |1111 Answers |Ask -Follow

Tax Expert - Answered on Jul 08, 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

Question by Shailesh on Jul 02, 2024Hindi

Money

I am a first time tax assessee for last F.Y. 2023-24. I want to opt for old tax regime and want to continue the same for future years. Do I need to first fill and submit the Form 10 IEA declaring regime selection of Old Tax Regime followed by ITR submission? Kindly clarify. Thank you

Ans: If you have income from business and profession, you have to file Form 10IEA to opt for old tax regime for FY 2023-24

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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Vivek Lala |324 Answers |Ask -Follow

Tax, MF Expert - Answered on Apr 21, 2023

Asked by Anonymous - Apr 07, 2023Hindi

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Sir, Greetings. I am Neeraj Gupta. Pl. guide me on selection of Old and New Tax Regime, 1. I am working with Pvt. Organization. If I choose and declare OLD Tax regime to my organization at the beggining of FY 2023-24, Can I File ITR in NEW TAX Regime later on? 2. I do book LTCG of Rs. one lakh from Mutual Fund. Is it a business Income ? Coz an tax payer can switch between old and new tax regime whenever needed if there is no income from Business.

Ans: For salaried income , one can change the regime later on as well.
LTCG is capital gains and not business income unless you do intra day trading or future and options.

Vivek Lala |324 Answers |Ask -Follow

Tax, MF Expert - Answered on Sep 03, 2025

Asked by Anonymous - Sep 02, 2025Hindi

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How to change tax regime while filing ITR?

Ans: The option is mentioned before you actually start filing the ITR on the portal

Reetika Sharma |628 Answers |Ask -Follow

Financial Planner, MF and Insurance Expert - Answered on Sep 09, 2025

Asked by Anonymous - Sep 02, 2025Hindi

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I filed ITR using new tax regime. How to switch to old tax regime now? My annual CTC is 12 lpa.

Ans: Hi,

You cannot switch your tax regime in between the financial year. But can choose it while filing your ITR next year.
For an income of 12 lpa, new tax regime is the best option - totally hassle-free.

Best Regards,
Reetika Sharma, CFP
https://www.instagram.com/cfpreetika/

Latest Questions

Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Question by Jaspal - Apr 27, 2026Hindi

Career

My son has got a rank of 85685( percentile 94.5) in Jee mains.Category is general.Home state is chandigarh.Wants to pursue CSE or IT.Kindly suggest best options in this regard.Pls help

Ans: Jaspal Sir, I have already answered your question. Please check.

Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Question by Saraswatidas - Apr 27, 2026Hindi

Career

Hello Sir, My daughter has secure 77 percentile in Jee main we r staying in Delhi and general category....she wish to take admission in BTech.... please advice for best option to take admission...

Ans: At 77 percentile, the expected CRL is likely above 3 lakh, making admission to NITs, IIITs, or GFTIs through JoSAA highly unlikely for a Delhi General category candidate. The best practical approach is to focus on Delhi-based Counselling: You can pply for JAC Delhi for DTU, NSUT, and IGDTUW, especially as a female Delhi candidate, but manage expectations toward spot rounds or lower branches. Also consider applying for IPU B.Tech Counselling for colleges like MAIT, MSIT, BVCOE, BPIT, and GTBIT. Additionally, keep 3-4 private engineering colleges in and around Delhi as backup options rather than relying solely on JoSAA, CSAB, or JAC Delhi. ALL the BEST for Your Daughter's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Asked by Anonymous - Apr 27, 2026Hindi

Career

My Son get Sc 13764 and AIR 242696 any NIT get

Ans: Based on your son's rank, securing a regular NIT seat is possible mainly in lower-demand branches and during later JoSAA or CSAB rounds, but admission to popular branches like CSE or ECE at top NITs is unlikely. Past NIT Mechanical cutoffs indicate that some lower-tier NITs admit candidates within the 8,000–18,000 SC rank range. It is important to fill all possible JoSAA and CSAB choices, keep options open for every branch, and prioritize lower-demand NITs and GFTIs. Additionally, reviewing JoSAA opening and closing ranks from the past 2–3 years will provide valuable insights to help your son confidently select and maximize his preferred choices. ALL the BEST for Your Son's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Asked by Anonymous - Apr 27, 2026Hindi

Career

My ward scored 70 percentile in jee mains and scored 78 percentage in boards and my ward wants to pursue mechanical engineering what are the best government colleges in India

Ans: You have not mentioned your son's home state or his category either. With 70 percentile and 78% board marks, your ward can realistically target lower-demand branches like Mechanical in some state government colleges and a few GFTIs. However, admission to Mechanical branches in NITs or IIITs is generally out of reach based on recent JoSAA trends. Suitable government options include SLIET Longowal, Assam University, Mizoram University, HNB Garhwal, Gurukula Kangri, JEC Jabalpur, IET Lucknow, and BIET Jhansi, depending on category, state quota, and counselling rounds. While some newer NITs may admit candidates with higher ranks for lower-demand branches, Mechanical usually requires a much better rank than what a 70 percentile typically corresponds to. It is better to have backup options of 3-4 Private Engineering Colleges in and around your State instead of relying only on JoSAA/CSAB. ALL the BEST for Your Ward's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Question by Abhinav - Apr 27, 2026Hindi

Career

Sir I got 235615 in JEE Mains (General), home state Maharashtra. Can i get any GFTI in Any state with Mechanical or Electronics and Computer Engineering??

Ans: Abhinav, With a CRL of 2,35,615 in the General category from Maharashtra, regular JoSAA admission chances for Mechanical, Electronics, or CSE branches in GFTIs are very low. In 2025, closing ranks for accessible GFTI Mechanical branches like SGSITS Mechanical were around 47,041, and ECE branches mostly closed between 61,000 and 72,000, which are well below your rank. Nonetheless, you should register for JoSAA and the CSAB Special Round, as CSAB fills vacant seats after JoSAA. Backup options you must have include MHT-CET/CAP counselling for Maharashtra colleges and private engineering colleges in and around Maharashtra for CSE, ECE, Mechanical, and E&TC branches. ALL the BEST for Your Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Asked by Anonymous - Apr 27, 2026Hindi

Career

My son is gote 76 parcentail in sc category.in which government college admission gote

Ans: He should definitely fill JoSAA choices and consider all branches, especially lower-demand engineering branches in GFTIs. Additionally, he should explore home-state government colleges through state counselling and actively participate in CSAB rounds to maximize admission opportunities. If possible, have 3-4 Private Engineering Colleges in and around your State also as backups. ALL the BEST for Your Son's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Asked by Anonymous - Apr 26, 2026Hindi

Career

My son has got 607933 rank in JEE .is there any chance to get in noit

Ans: With a CRL of 607,933, admission to CSE or other high-demand branches in any NIT or IIIT is not realistically possible. Instead, focus on state counselling and private colleges in and around your state, or consider lower-demand branches in GFTIs if category or quota benefits apply. Your son can still participate in JoSAA and CSAB by filling the maximum number of preferred choices, but ensure these choices are near-realistic to improve chances. ALL the BEST for Your Son's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Question by Hemant - Apr 27, 2026Hindi

Career

My son got 98.83 percentile in JEE 2026 with CLR 18862 Rqnk, in EWS GEN.Categ. Rank is 2551 , is any chance in Top NITS with CSE Branch plz also suggest name of NITS where he can got admission

Ans: Hemant Sir, you have not mentioned your son's home state. Based on your son's score, admission to CSE in top NITs like Trichy, Surathkal, Warangal, Calicut, and Allahabad is unlikely. More feasible CSE options include NIT Agartala, Meghalaya, Mizoram, Nagaland, Sikkim, Arunachal Pradesh, Manipur, and possibly NIT Puducherry or Goa in later rounds. For better chances, also consider IIITs such as Una, Kottayam, Kalyani, Dharwad, Bhagalpur, Ranchi, and Bhopal. It is important to participate in CSAB Special Rounds for possible seat upgrades. Additionally, reviewing JoSAA opening and closing ranks from the past 2–3 years will provide valuable insights and help your son confidently select and fill his preferred & maximum number of choices. If possible and if you wish, have 3-4 backup options of reputed Private Engineering Colleges also in and around your State. ALL the BEST for Your Son's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Asked by Anonymous - Apr 27, 2026Hindi

Career

Hi Sir, My son has secured a rank of 4095 in JEE Mains 2026, and we are also expecting a rank below 300 in KCET 2026. I would like your advice in finalizing the best college and branch among the following options: 1. NITK Surathkal – ECE (Home State), 2. NITK Surathkal – IT (through CSAB, Home State), 3. MNIT Allahabad – CSE, 4. IIIT Bangalore – CSE, 5.IIIT Hyderabad – ECE, 6.RVCE Bangalore – CSE. The fees at NITs are financially affordable for us, whereas the fees at IIIT Bangalore and IIIT Hyderabad are quite expensive. Considering all aspects, including placements, career growth, and overall value, which would be the best choice? Additionally, my son is unsure about his interest in hardcore coding. In that case, would ECE be a better option? Also, does ECE offer strong career potential?

Ans: Before addressing your question, I’d like to emphasize that no branch is inherently bad—every branch, including ECE, has its own strengths and opportunities. However, if your son is unsure about a hardcore coding or software-focused CSE branch, it’s wise to avoid it initially. He should remain adaptable, as his interests and the job market may evolve by his 2nd or 3rd year, possibly shifting his focus between ECE or other streams.

Regarding your question, it’s highly recommended to prioritize home-state institutions such as NIT Surathkal, IIIT Bengaluru, or RVCE Bengaluru. Since finances are a concern, finalizing admission in NIT Surathkal’s ECE branch is advisable, given its excellent placement record over the last few years, including highest packages exceeding ?50 lakhs for ECE graduates. ALL the BEST for Your Son's Prosperous Future!

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Nayagam P P |11177 Answers |Ask -Follow

Career Counsellor - Answered on Apr 28, 2026

Question by Jaspal - Apr 27, 2026Hindi

Career

My son has got a rank of 85685( percentile 94.5) in Jee mains.Category is general.Home state is chandigarh.Wants to pursue CSE or IT.Kindly suggest best options in this regard.

Ans: Jaspal Sir, With a CRL of 85,685 in the General category from Chandigarh, admission to CSE or IT branches in NITs and IIITs through regular JoSAA is very difficult. PEC Chandigarh, your son's best Chandigarh-linked option, is also unlikely for CSE/IT, as 2025 closing ranks for CSE/Data Science branches were much earlier, and even lower PEC branches in CSAB closed between 50,000 and 82,000. You can still try for these choices and also consider CSAB options for lower-tier IIITs and GFTIs if desired. However, it is important to keep realistic backups such as UIET Chandigarh, CCET Chandigarh, Chitkara, Chandigarh University, CGC Landran/Jhanjeri, Thapar, IPU colleges, and private colleges in UP and Haryana. For CSE and IT, private or state counselling routes are generally better options. ALL the BEST for Your Son's Prosperous Future!

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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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