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Mihir

Mihir Tanna  |1064 Answers  |Ask -

Tax Expert - Answered on Dec 06, 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
Asked by Anonymous - Nov 15, 2023Hindi
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LTA amount is given by my company each year. Is that amount exempted over and above of taxed amount in the new tax regime? How to show it, can I show it accumulating 4 years amount in one year?My yearly salary is 14 Lakh approx. I fall in ITR 1.

Ans: Leave Travel Allowance deduction is not allowed 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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Mihir

Mihir Tanna  |1064 Answers  |Ask -

Tax Expert - Answered on Nov 07, 2022

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Good Morning. I am a fan of yours and read you severally on Rediff replying queries of various Tax Problems. Sir, now I have a tax query and earnestly request you to resolve that which is as follows: My query is: I booked an under construction flat worth Rs.45.00 lacs which is scheduled to be ready for procession in year F.Y.2025-26. Now I sold shares worth Rs. 10,00,000/- and total amount paid to builder in F.Y.2022-23. Out of shares sold my LTCG IS Rs.700,000/-. Can I claim exemption for LTCG to that amount only which is given as advance in corresponding year? Again in F.Y. 2023-24 I will pay Rs.20,00,000/- by selling shares and LTCG of Rs.10,00,000/-. Can I claim Exemption for LTCG? Same process will happen in next 2 F.Ys. till procession of my new Flat. Can I claim exemption on LTCG on sale of shares in each financial year? Please also guide to fill ITR also for claiming above exemption in parts.
Ans: In respect of capital gains you can claim exemption from long term capital gains if the net sale consideration is invested in booking an under construction house. You get an extended period of three years to get possession in case it is booked with a developer.

In case the sale consideration is not fully invested in the residential house before filing of the Income Tax Return, the unutilised money has to be deposited with a bank under Capital Gains Account Scheme. The money deposited can be utilised within the prescribed period for payment of house.

You have to keep in mind that to claim this exemption, you should not own more than one residential house property on the date of sale of the shares except the one in respect of which you are claiming the exemption.

So once you claim exemption in FY 22 23, it is not advisable to claim exemption against gain earned in subsequent years.

In Income Tax Return, you can show the amount invested in property as exemption u/s 54F and if the entire 10 lakh consideration can not be invested in property then open CG account and show amount in ITR accordingly.

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Nayagam P

Nayagam P P  |8135 Answers  |Ask -

Career Counsellor - Answered on Jul 07, 2025

Asked by Anonymous - Jul 07, 2025Hindi
Career
My daughter had 84.5 percentile in JEE and 90 percent in class 12 cbse exams. She has decided to go for Electrical Engineering from Thapar Institute of Engineering and Technology. I just wanted to confirm whether it is a right decision or not? I learned that Electrical Engineering is tougher than other branch, is this true? After doing B. Tech from TIET whether she will have job opportunities?
Ans: Thapar Institute’s four-year B.Tech in Electrical Engineering is NBA-aligned and delivered by predominantly PhD-qualified faculty across modern power-electronics, renewable-energy, control-systems and signal-processing labs, with mandatory industry internships, active research projects and strong academic collaborations in power systems and smart grids. Electrical Engineering often involves more abstract mathematics and physics than many branches—covering electromagnetics, circuit theory, control theory and signal processing—which students commonly perceive as more challenging than Mechanical or Civil Engineering due to its theoretical rigor and conceptual complexity. TIET’s dedicated placement cell achieved an 83% overall UG placement rate in 2023 with 334 recruiters visiting campus, and EE students recorded approximately 90% placement consistency over the last three years through roles in power, automation and embedded systems. Graduates benefit from TIET’s strong industry MoUs, alumni network and annual recruitment drives by firms such as Siemens, ABB, Schneider Electric and L&T, ensuring ample job opportunities post-graduation.

For a robust, research-integrated curriculum and strong campus recruitment in core and emerging electrical domains, the recommendation is to pursue B.Tech Electrical Engineering at TIET, embracing its rigorous training and proven employability pathways. All the BEST for Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |8135 Answers  |Ask -

Career Counsellor - Answered on Jul 07, 2025

Asked by Anonymous - Jul 07, 2025Hindi
Career
Sir my daughter has got admission in Bharati Vidyapeeth deemed University Pune Btech CS and also she is getting admission in marathwada mitra mandal college of engineering Pune for mechanical and electrical branches. Also there is a high probability to get admission in G H Raisoni college of engineering, Wagholi, Pune for CSE AI AND ML, CSE CYBERSECURITY, CSE DATA SCIENCE and CSE AI through MHT CET where she being a girl student we don't have to pay tution fees and in BVDU where she has secured admission for CS we have to pay 2.5lacs every year . Kindly let me know which is the better option.
Ans: Bharati Vidyapeeth Deemed University’s B.Tech Computer Science program is A+ NAAC- and NBA-accredited, delivered by PhD-qualified faculty in AI/ML, software systems and networks labs, and backed by industry MoUs and an active innovation council; however, its ?2.5 LPA tuition presents a significant financial outlay. Marathwada Mitra Mandal College of Engineering offers NBA-accredited Mechanical and Electrical streams with well-equipped CAD/CAM, thermal and power labs, PhD-faculty mentorship, skill-development programs and a strong 75+ recruiter network for an overall ?4.84 L total fee. G H Raisoni College of Engineering, Wagholi provides A+ NAAC- and NBA-aligned CSE specializations in AI & ML, Cybersecurity, Data Science and core CSE, with modern AI/ML, cybersecurity and data-analytics labs, mandatory internships and an 80–90% placement consistency—offering entirely tuition-waived seats for female MHT-CET qualifiers.

For zero tuition fees, specialized CSE tracks and robust internship-to-placement pipelines, recommendation is G H Raisoni College of Engineering Pune (CSE AI & ML). Next, recommendation is Bharati Vidyapeeth Deemed University Pune (B.Tech CS) for its premier accreditation and research ecosystem, and lastly Marathwada Mitra Mandal’s College of Engineering Pune (Mechanical/Electrical) for versatile engineering foundations and affordable fees. All the BEST for Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |8135 Answers  |Ask -

Career Counsellor - Answered on Jul 07, 2025

Career
My daughter want to bs I science, she qualify cuet exam 96 percentile in science group(math physics chemistry) , any chance for DU or ASU and which university is better for BS program in science. Please enlighten me.
Ans: Sanjib Sir, With a 96th percentile in CUET Science, admission to Delhi University’s B.Sc. (Hons.) mid-tier programmes—such as Zoology, Botany or Life Sciences at Hansraj, Miranda House and Ramjas—is well within reach, as these colleges typically close around the 92nd–97th percentile. University of Delhi’s offerings span 19 honours and 10 programme specializations, delivered by tenured faculty in well-equipped teaching and research labs and supported by semester-wise project work and interdisciplinary electives. Ashoka University’s four-year B.Sc. emphasizes liberal-arts integration, nine foundation courses, pure and interdisciplinary majors, high-end research facilities and mandatory capstone theses under PhD-qualified mentors, complemented by global partnerships and the Ashoka Scholars Programme for postgraduate research immersion. Both institutions hold NAAC accreditation and offer robust career-development services and internship placements in premier research and industry centers.

For a holistic research-driven science education with intensive faculty mentorship and global academic pathways, the recommendation is Ashoka University B.Sc. If diverse specializations, large peer networks and established undergraduate curricula appeal more, choose Delhi University B.Sc. All the BEST for Admission & a 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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