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Mihir

Mihir Tanna  |1026 Answers  |Ask -

Tax Expert - Answered on Feb 07, 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
Sudhakar Question by Sudhakar on Feb 05, 2023Hindi
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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.
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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