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Mihir Tanna  |876 Answers  |Ask -

Tax Expert - Answered on Feb 05, 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
Srinivasa Question by Srinivasa on Feb 02, 2023Hindi
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As per new Tax regime, no tax upto 7 lakhs, but the slab is 0 - 3 lacs no Tax, 3 - 6 lacs 5â„… , etc., how this need to be distinguished

Ans: If person opt for new tax regime and earn income upto Rs.7,00,000; rebate is available for 100% of tax amount. But as soon as income exceeds Rs.7 lakh, rebate will not be available and slab rate will be applicable from income above 3 lakhs.
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