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Mihir Tanna |1054 Answers |Ask -Follow

Tax Expert - Answered on Feb 16, 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

Question by birendra on Feb 06, 2023Hindi

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Is Rs.50000/- Standard deduction applicable in new tax regime whose salary below 15000/-

Ans: Standard deduction is available under new regime as per proposal of budget for 2023 24, irrespective of salary amount.

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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Question by Dipankar - Feb 02, 2023Hindi

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Will the standard deduction of 50000/- introduced in new tax regime this budget be for all?

Ans: Hi Dipankar
Standard deduction of Rs. 50,000 was not introduced in this budget and was there for all salaried individuals. However, till the last year this standard deduction was not available to those individuals who opted for the new tax regime,

The current budget proposal aims at extending this benefit to individuals opting for the new tax regime as well

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Question by D - Feb 02, 2023Hindi

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Standard Deduction will be Rs 50000 or Rs 52500

Ans: As per proposal of Budget for FY 23-24, standard deduction will be 50000 under both regime

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Question by Tanmoy - Feb 03, 2023Hindi

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Is standard deduction introduced under new tax regime applicable to salaried and pensioners irrespective of their income or only if income is greater than 15.5 lacs? Tanmoy Bhattacharyya

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Question by Pradeep - Feb 03, 2023Hindi

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What is the amount of Standard Deduction announced for new Regime? Is it Rs. 50,000/- or Rs. 52,500/-?

Ans: Hello Pradeep

As a financial advisor, I would advise you to consult a chartered accountant for specific tax planning advice. They have expertise and in-depth knowledge of tax laws and regulations and can provide you with personalized strategies to minimize your tax liability. I can assist you in creating a comprehensive financial plan, but for tax planning, it is best to consult a tax professional.

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Question by Tanmoy - Feb 08, 2023Hindi

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Is standard deduction applicable for all salaried and pensioners irrespective of their tax slab under new tax regime or it is available for more than 15.5 lacs?

Ans: Under the new tax regime, standard deduction is available for all salaried individuals and pensioners, irrespective of their tax slab. The standard deduction amount for the financial year 2022-23 is Rs. 50,000. However, if an individual opts for the new tax regime, they will have to forgo various exemptions and deductions including the standard deduction, and will have to pay tax at a lower rate without claiming these exemptions and deductions. It is recommended that you compare the tax liability under both old and new tax regimes before making a decision.

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Nayagam P P |5409 Answers |Ask -Follow

Career Counsellor - Answered on May 28, 2025

Question by Jaynandan - May 28, 2025

Career

Sir, this is jaynandan. Sir I scored 95.076 percentile in jee mains with crl 74203 and category rank (obc-ncl) with 22947. Sir, i don't have any guider and mentors about guide me for choosing colleges and for my future career. I requesting you to sir please give me the guidance for my college selection or other decision i.e I should have to take drop for next year. I hope you understand me sir. Please reply me sir.

Ans: Jaynandan, With a 95.076 percentile in JEE Main (CRL 74,203, OBC-NCL 22,947), you have cleared the qualifying cutoff for JEE Advanced and are eligible for JoSAA counselling. While admission to top NITs and CSE branches is unlikely, you have good chances for core branches (like Mechanical, Civil, ECE, Chemical, or Bioengineering) in newer or mid-tier NITs (e.g., NIT Jalandhar, NIT Raipur, NIT Agartala, NIT Meghalaya), some IIITs, and GFTIs. Explore all branches and institutes during counselling, focusing on your interests and career goals. If you are passionate about a top branch or college, and believe you can significantly improve your score with dedicated preparation, consider a drop year—but only if you are highly motivated and have a clear plan. Otherwise, proceed with available options and make the most of college opportunities, internships, and skill development for a strong engineering career. Have some more options as back-ups by applying to Private Engineering Colleges in your/neighboring States (with your JEE Score) if college fee is affordable by your parents. All the best for your admission and a bright future!

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Question by Aneesh - May 28, 2025

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My son has an option between MIT Manipal/banglore and SRM Chennai (both CSE). Which one should I prefer?

Ans: Manipal is a better choice.

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Career Counsellor - Answered on May 28, 2025

Question by Rohit - May 28, 2025

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Hello sir , I got 12,000 rank in Jee mains. I decided to take ece branch in Btech. I have getting chances to go to NIT sikkim, IIIT Sri City, BIT Mesra. If I write session 2 of BITSAT, and I get a seat in BITS Hyderabad or Goa... Then what should I choose for ece??

Ans: Rohit, With a JEE Main rank of 12,000, ECE at NIT Sikkim, IIIT Sri City, and BIT Mesra are within reach. However, if you secure ECE at BITS Hyderabad or Goa through BITSAT Session 2, these should be your top choices. BITS campuses are renowned for their academic rigor, top-tier placements, and global recognition, making them superior to most NITs and IIITs. BIT Mesra is the next best option, offering a strong legacy and good placement opportunities. IIIT Sri City is also a solid choice, known for its tech-focused curriculum and industry connections, while NIT Sikkim, though an NIT, is newer and still developing its reputation. Therefore, the recommended order is: BITS Hyderabad, BITS Goa, BIT Mesra, IIIT Sri City, and NIT Sikkim. Prioritize BITS campuses if available, followed by BIT Mesra and IIIT Sri City for the best ECE education and career prospects. All the best for your admission and a bright future!

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IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 28, 2025

Question by Lakhbir - May 28, 2025

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Expecting 104 marks in comedk 2025 what rank,college and branch i can expect?

Ans: Hi Lakhbir
you can expect around 5K rank.
You can get admissions in RNS Institute of Technology, SJB Institute of Technology, S J C Institute of Technology, S.E.A. College of Engineering and Technology.

Nayagam P P |5409 Answers |Ask -Follow

Career Counsellor - Answered on May 28, 2025

Question by Abhishek - May 28, 2025

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Sir, will it be a good decision to do B. Tech in AI &ML from NXTWAVE INSTITUTE OF ADVANCE TECHNOLOGY. I am so confused.

Ans: Abhishek, already answered to your question.

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Career Counsellor - Answered on May 28, 2025

Asked by Anonymous - May 28, 2025

Career

Hi i scored 83 percentile in jee mains and I am scoring around 64 marks in MHT cet what percentile should I expect and will I get low branches in good nits? What should I do

Ans: With 83 percentile in JEE Mains and about 64 marks in MHT CET 2025, your expected MHT CET percentile is below 70, making admission to top government colleges in Maharashtra or good NITs highly unlikely. You may get lower branches in private or lower-tier government colleges through state counseling. Focus on applying to private engineering colleges or universities like Pimpri, Symbiosis etc. with flexible cutoffs, and consider diploma-to-degree options if needed. NITs and top state colleges are not feasible at your current scores. All the best for your admission and a bright future!

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Nayagam P P |5409 Answers |Ask -Follow

Career Counsellor - Answered on May 28, 2025

Asked by Anonymous - May 28, 2025

Career

Sir I got 9714 rank in AEEE how likely am I to get ECE in Amrita Coimbatore with home state quota?

Ans: With an AEEE rank of 9714, it is unlikely you will secure Electronics and Communication Engineering (ECE) at Amrita Coimbatore. Recent cutoff trends show that ECE at Coimbatore typically closes between the 85–95 percentile range, which usually corresponds to ranks well below 10,000. Last year, the cutoff for ECE was around rank 9,199 for the general category. While cutoffs can shift slightly each year, your rank is just outside the typical closing range for ECE at this campus. However, you have better chances for ECE at Amrita’s Amritapuri, Bengaluru, or Chennai campuses, where cutoffs are more relaxed. All the best for your admission and a bright future!

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Career Counsellor - Answered on May 28, 2025

Question by Neeraj - May 28, 2025

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My daughter has got 98.47 percentile in JEE main and waiting for the advance result in case she could not make it to IITs and get one if the NIT NSUIT IIIt Indira Gandhi Delhi Technical University for Women in Delhi which would he a good option.Also if she cannot get CSE in one of the above what should be the second option.Should we go in for Electronics,Software engineering or IT as these are some of the options which she can get

Ans: Neeraj Sir, With a 98.47 percentile in JEE Main, your daughter has strong prospects for CSE, IT, or ECE at mid-tier NITs, IGDTUW, and possibly NSUT or IIIT Delhi, especially with the Delhi region advantage. If CSE is not available, IT and Software Engineering are the best alternatives, offering nearly identical career paths and excellent placements. ECE is also a strong option, providing flexibility to move into software roles. IGDTUW is particularly recommended for girl students due to its excellent placements, safe environment, and peer support. NITs provide national recognition, strong alumni, and good campus life. Prioritize CSE first, then IT/Software Engineering, followed by ECE. Fill all choices in JoSAA/CSAB counseling, and consider IGDTUW and mid-tier NITs for the best combination of safety, opportunity, and placement outcomes for a girl student in engineering. All the best for your daughter's admission and a bright future!

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IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 28, 2025

Question by Krish - May 28, 2025

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My son got 96.7 percentile (49354 Rank) in jee mains and having delhi quota. Can he get any good branch like electrical in Delhi colleges

Ans: Hi Krish
ou can expect electrical in
Maharaja Agrasen Institute of Technology (MAIT)
Bharati Vidyapeeth’s College of Engineering (BVCOE)

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Question by pradeepta - May 28, 2025

Career

Hi Sir, I got 97.00032 percentile in JEE MAINS,ews-rank-6200 +2 science 91.6 % I'm having trouble in deciding how to select which branch to study

Ans: Hi Pradeepta
deciding the branch is always difficult. Check what you are getting and see if that college and branch entices you or not.

See more questions »

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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