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Mihir Tanna  |880 Answers  |Ask -

Tax Expert - Answered on Apr 01, 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
Volety Question by Volety on Feb 02, 2023Hindi
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I am a senior citizen and get pension of about Rs. 9.3 lakhs during the FY 23-24. I also get interest amount of about Rs 5 lakhs per anum. I have a home loan where I pay about 3 lakhs towards principle and about 2 lakhs as interest. Please suggest whether the old slabs with deductions or the newly introduced new tax regime would be beneficial. Appreciate your suggestions

Ans: Considering deductions of Rs.4 lakhs (2 lakhs Interest, 1.5 lakhs principal repayment, 50k standard deduction) against income of Rs.14.30 lakhs; old scheme is likely to be beneficial.
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