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Mahesh Padmanabhan  |124 Answers  |Ask -

Tax Expert - Answered on Feb 02, 2023

Mahesh Padmanabhan has specialised in payroll, personal and corporate taxation for more than two and a half decades, enabling him to provide practical, realistic and correct advice to his clients.
He is a member of The Institute of Chartered Accountants of India and has a degree in cost accounting from the Institute of Cost Accountants of India.
He is also a qualified information systems auditor. ... more
Amit Question by Amit on Feb 01, 2023Hindi
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As there are two tax regimes still applicable, please suggest which regime will benefit an individual if he/she is earning approximately 9.6 lac per annum

Ans: Hi Amit
In order to compare between the two options, it would be pertinent to know the quantum of deductions that the individual could claim under the old tax regime.

In case you assume that the total amount of deductions being claimed under the old tax regime is say Rs. 3 Lakhs then you are comparing a taxable income of say Rs. 6.6 Lakhs under the old tax regime vis-a-vis say, a taxable income of about Rs. 9.10 Lakhs under the new tax regime.

With this example, your tax under the old regime may be about Rs. 46,000 and that under new tax regime may be about Rs. 48,000. So the old regime may look good in this scenario.

You would need to work out the correct numbers with right deduction details as that would change the direction of selection of the tax regime option
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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Sir,i am a 12th class student of 2024-25 batch with pcb from chse (odisha state board) . I want to pursue btech cse from IIIT BHUBANESWAR OR NIT ROURKELA. Can i apply for jee mains if i will add only mathematics from nios leading to 2 marksheets ,one from chse containing PCB ,english and statistics and another from nios with only maths.
Ans: With a JEE Main percentile of 93.7 (expected CRL rank ~94,500), admission to CSE in NITs/IIITs via JoSAA/CSAB is unlikely, as top NITs like NIT Trichy (CSE cutoff: ~4,661–9,271) and IIIT Hyderabad (CSE cutoff: ~1,500–6,000) require ranks below 20,000. However, non-CSE branches such as Mechanical and Civil Engineering at NIT Agartala (cutoff: ~180,051) or Electronics and Communication Engineering at IIITDM Jabalpur (ECE cutoff: ~17,195) may become available in later CSAB rounds, although prioritizing these options risks losing current offers. Among existing options, VIT Vellore CSE (93% placement rate, 867+ recruiters like Microsoft/Amazon) offers the strongest industry network and academic rigor, followed by NMIMS Mumbai CSE (prime location, ~90% placements in tech roles). UPES Dehradun (96% placements) and SRM Main Campus (~85% placements) lag in institutional reputation compared to VIT/NMIMS. Prioritize VIT Vellore CSE for optimal career prospects, while monitoring CSAB for niche NIT/IIIT branches as backups and also take into consideration the fee affordability. All the BEST for your Admission & a Prosperous Future!

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