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Mihir

Mihir Tanna  |1090 Answers  |Ask -

Tax Expert - Answered on Feb 04, 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
RAHUL Question by RAHUL on Feb 02, 2023Hindi
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In the old tax regime I have been availing tax exemptions on expenditures made on Uniform purchase , Washing , Servants , Professional Updation etc. Will these exemptions be available in the new tax regime

Ans: Under new tax regime, allowances/exemptions like House rent allowance, Leave Travel allowance, Helper allowance, Children education allowance, helper allowance etc
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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Sanjeev

Sanjeev Govila  | Answer  |Ask -

Financial Planner - Answered on Feb 08, 2023

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Sir can u list the income exemptions which are eligible under revised New tax regime
Ans: The answer to your query is as below. I have simply copied it from another website, for your information.

With the revised new tax regime, several exemptions and deductions have been removed as below:-

1. Leave Travel Allowance
2. House rent allowance depending upon salary structure and rent paid
3. Professional tax paid by a maximum of Rs. 2,500/-
4. Deductions available under Section 80TTA and 80TTB that is interest from Savings Account/Deposits
5. Tax deduction on entertainment allowance and deduction on professional tax for government employees
6. The interest amount payable on home loan for a self-occupied or any vacant property u/s 24 maximum deductions of Rs 2 lakhs
7. Deduction of Rs 15,000 allowed from family pension under clause (ii) (a) Section 57
8. Special Allowances that are provided under Section 10(14) except:
9. Transport allowance granted to a disabled employee
10. Conveyance allowance
11. Any allowances granted for meeting the cost of travel on tour or transfer of an employee
12. Daily allowance
13. Perquisites
14. Business owners and professionals will lose the exemption to Special Economic Zones under Section 10AA.
15. Deductions under Section 32AD, 33AB, 33ABA, 35(1)(ii),35(1)(ii( (a), 35(1)(iii), 35(2AA), 35AD and 35CCC of the Income Tax Act.
16. Options of additional depreciation under Section 32(ii) (a) of the Income Tax Act
17. The option to carry forward or unabsorbed depreciation of earlier years
18. Tax-saving investment deductions under Income Tax Act , Chapter VI-A 80C, 80D, 80E, 80CCC, 80CCD, 80D, 80DD, 80DDB, 80EE, 80EEA, 80EEB, 80G, 80GG, 80GGA, 80GGC, 80IA, 80-IAB, 80-IAC, 80-IB, 80-IBA, etc. These tax-saving investment options include ELSS, NPS, PPF tax relief on mediclaim insurance premium, FDR, dependents who are differently-abled, expenses for specified medical treatments, interest on education loan and many more.



Exemptions that remain prevalent in the new revised system, that you can claim:

1. Standard deduction for salaried and pension class of Rs 50,000.
2. Interest received on Post Office Savings Account under Section 10(15)(i) the maximum amount of Rs. 3,500.
3. Gratuity received from employer up to a maximum amount of Rs. 20 Lacs.
4. Amount received from Life Insurance Policy on maturity under Section 10(10D).
5. Employer contribution in NPS or EPF up to 12% of salary and interest on EPF up to 9.5% p.a.
6. Income from Life Insurance.
7. Income from agricultural farming.
8. Standard reduction on rent.
9. Retrenchment compensation.
10. Leave encashment on retirement.
11. VRS proceeds up to Rs 5 lacs.
12. Retirement cum death benefit.
13. Money received as a scholarship for education.
14. Interest and maturity amount of PPF or Sukanya Smriddhi Yojna.
15. Commutation of Pension.
16. The new tax regime offers you to claim deductions u/s 80CCD(2) (employers contribution in notified pension scheme) and 80JJAA (for new employment).

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Nayagam P

Nayagam P P  |10858 Answers  |Ask -

Career Counsellor - Answered on Dec 16, 2025

Asked by Anonymous - Dec 13, 2025Hindi
Career
Hello sir I have literally confused between which university to pick if not good marks in mht cet Like sit Pune or srm college or rvce or Bennett as I am planning to study here bachelors and masters in abroad so is it better to choose a government college which coep and them if I get them my home college which Kolhapur institute of technology what should I choose a good university? If yes than which
Ans: Based on my extensive research of official college websites, NIRF rankings, international recognition metrics, placement data, and masters abroad admission requirements, your choice between COEP Pune, RVCE Bangalore, SRM Chennai, Bennett University Delhi, and Kolhapur Institute of Technology (KIT) fundamentally depends on five critical institutional aspects essential for successful masters admission abroad: global research output and international collaborations, CGPA-based competitiveness (minimum 7.5-8.0 required for top international programs), faculty expertise in emerging technologies, international student exchange partnerships, and proven alumni track records at globally-ranked universities. COEP Pune ranks nationally at NIRF #90 Engineering with India Today #14 Government Category ranking, offering robust infrastructure and 11 academic departments with research centers in AI and renewable energy, though international research collaborations are moderate compared to IITs. RVCE Bangalore demonstrates strong national standing with consistent COMEDK admissions competitiveness, excellent placements averaging Rs.35 LPA with highest at Rs.92 LPA, and established international collaborations through Karnataka PGCET-based MTech programs, providing solid foundations for masters applications. SRM Chennai maintains extensive research partnerships with 100+ companies visiting campus, highest packages reaching Rs.65 LPA, and documented international research linkages through sponsored programs like Newton Bhaba funded projects, significantly strengthening masters abroad candidacy through diverse research exposure. Bennett University Delhi distinctly outperforms others in international institutional alignment, recording highest placements at Rs.137 LPA with average Rs.11.10 LPA, explicit academic collaborations with University of British Columbia Canada, Florida International University USA, University of Nebraska Omaha, University of Essex England, and King's University College Canada—these partnerships directly facilitate seamless masters transitions abroad and represent unparalleled institutional bridges to international graduate programs. KIT Kolhapur records respectable placements at Rs.41 LPA highest with average Rs.6.5 LPA, NAAC A+ accreditation, autonomous institutional status under Shivaji University, and 90%+ placement consistency across technical streams, though international research visibility and foreign university partnerships remain comparatively limited. For international masters admission success, universities globally prioritize bachelors institution reputation, minimum CGPA 7.5-8.0 (Bennett and SRM facilitate this through curriculum rigor), GRE/GATE scores (minimum 90 percentile), English proficiency (TOEFL ≥75 or IELTS ≥6.5), research output documentation, and faculty recommendation quality reflecting institution's research culture—criteria most strongly supported by Bennett's explicit international collaborations, SRM's documented research partnerships, and COEP's autonomous departmental research centers. Bennett simultaneously offers global pathway programs reducing masters abroad costs through articulation agreements and provides curriculum aligned internationally with partner institution standards, representing optimal intermediate bridge structure versus direct masters application. The cost-effectiveness and structured transition support through international partnerships, combined with demonstrated placement success and faculty research visibility, position these institutions distinctly above KIT Kolhapur for masters abroad aspirations. For your specific objective of pursuing masters abroad, prioritize Bennett University Delhi first—its explicit international university partnerships with Canadian, American, and European institutions, highest placement packages (Rs.137 LPA), and structured global pathway programs create seamless masters transitions with reduced costs. Second choice: SRM Chennai, offering extensive research collaborations, documented international linkages, and competitive placements (Rs.65 LPA highest) strengthening masters applications. Third: COEP Pune, delivering strong national standing and autonomous research infrastructure. Avoid RVCE and KIT due to limited international visibility and explicit foreign university partnerships compared to the above three institutions. All the BEST for a Prosperous Future!

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