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Hemant

Hemant Bokil  | Answer  |Ask -

Financial Planner - Answered on Feb 03, 2023

Hemant Bokil is the founder of Sanay Investments. He has over 15 years of experience in the field of mutual funds and insurance.Besides working as a financial planner, he also hosts workshops to create financial awareness. He holds an MCom from Mumbai University.... more
Rohit Question by Rohit on Feb 01, 2023Hindi
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what has changed in old tax regime as i am under higher tax bracket

Ans: Nothing changed in old tax regime as of now
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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Mahesh

Mahesh Padmanabhan  | Answer  |Ask -

Tax Expert - Answered on Feb 01, 2023

Asked by Anonymous - Feb 01, 2023Hindi
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Dear Sir, what is the difference between new and old tax regime as per new budget announced? What are the benefits? My annual salary is 10LPA
Ans: Hi
The difference between the old and new tax regime is that many deductions and exemptions are not available if an individual opts for the new tax regime.

Standard deduction, PT deduction, Mediclaim, Life Insurance, PF, NPS, Donations etc., are some of the common deductions that would not have been available to an individual opting for the new tax regime. The benefit that the individual would get by opting the new tax regime is that she / he would get lower rates of tax slab as compared to an individual opting for old tax regime.

With the new budget proposals, the FM intends to extend atleast 3 distinct benefits to individuals opting for the new tax regime.

1. Standard deduction would be available to be claimed
2. Slab rates of tax has been rationalized (improved) to give better tax relief to the individual
3. Individuals opting for new tax regime have got enhanced Nil tax window of Rs. 7 Lakhs as compared to old tax regime limit of Rs. 5 Lakhs. As your income even after the standard deduction would be above Rs. 7 Lakhs, this benefit is not really applicable to you.

If we look at an income of Rs. 10 Lakhs with standard deduction of Rs. 50000; you would pay Rs. 52,500 under the new tax regime (current budget proposal) as compared to Rs. 67,500 under the new tax regime (last year budget). So effectively comparing apple to apple, you have an additional saving of Rs. 15,000 in taxes

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Nayagam P

Nayagam P P  |11009 Answers  |Ask -

Career Counsellor - Answered on Apr 18, 2026

Career
Sir, My son has appeared in Class X ICSE Exam and results are awaited. So far , he has been an average performer academically. I believe he is capable and he can do great if he puts in the hard work. His performance in subjects like History/Geography etc has always been better than in Maths/science. I personally never wanted to force him to choose any stream for higher studies. He also is not sure about it. While discussing I suggested him to go for Commerce or humanities stream and then for MBA from a reputed institution. However, he is more concerned about job opportunities and wanted to go for science. Hence, after a lot of discussion, we have got him admitted in Science stream in Delhi and also got him enrolled in Allen for JEE Coaching. We thought if he adapts well and gets going, then may be he can achieve good result. Otherwise, we may decide to change stream after Class XII. What is your opinion? Request for your suggestion please
Ans: Shyam Sir, I have thoroughly reviewed your son’s background. You haven’t mentioned whether he is continuing with the ISC board or has enrolled in the CBSE board with Allen-JEE coaching for this 11th/12th Grade. Firstly, I recommend a psychometric test for your son to gain a rough idea of the most suitable career options for him.

Secondly, job opportunities exist across domains, but to be competitive, your son must have passion and interest in his chosen field and continuously upgrade both technical and soft skills relevant to that domain.

Thirdly, besides understanding suitable career options through the psychometric test, ask him what types of problems he is interested in solving in the future.

Fourthly, since you mentioned his performance is better in History and Geography than in Science and Maths, Allen-JEE coaching would be suitable only if he is truly interested in Maths and Science. If not, his performance may fall short of expectations, leading to demotivation.

My suggestion is to consider enrolling him in the Arts/Humanities stream with a focus on Geography-centric subjects. Later, he can pursue civil services, media, law, or management studies. Reassess his progress after about a year (by December 2026), focusing on his interest, mental health, and realistic performance rather than perceived job security alone.

Before he completes 11th grade (by February 2026), you both can collectively decide and start preparing for entrance exams in law, media, or management (CUET, CLAT, IPMAT, NPAT, SET etc.) based on his interests and future plans. ALL the BEST for Your Son's Prosperous Future!

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Nayagam P

Nayagam P P  |11009 Answers  |Ask -

Career Counsellor - Answered on Apr 18, 2026

Career
Sir my son is expected to score 90+% in 12th boards typically between 93-95% of board marks .. and 90% and above pcm cutoff .. is he now eligible with this met score of 125 marks and 12th score for admission in mit manipal mechanical? . . Also i need a guidance about aeee also . Since my son scored 90.3 percentile in aeee entrance phase . Is he eligible for slab 1 mechanical engineering in aeee ? Kindly support pl
Ans: Bala Sir, I have already addressed the first part of your question, confirming that the chances of him getting admission into the Mechanical branch at Manipal are higher. The official handbook of AMRITA states that seat allotment and scholarship consideration are done through CSAP allotment. Your son may secure a Mechanical seat, but Slab 1 cannot be guaranteed unless his final AEEE rank or JEE percentile is strong enough at the time of CSAP choice allotment. Slab 1 is based on merit ranking, not raw marks. His 125 AEEE marks will be converted into a rank relative to all candidates; if many score higher, the Slab 1 cutoff will rise. Therefore, raw marks alone do not guarantee Slab 1.

The chance of getting a Mechanical seat from Slab 2 is moderate at Amrita Coimbatore and highly probable at the Bengaluru campus. It’s advisable to have 2-3 backup options besides Manipal and Amrita. Mechanical Engineering is generally less competitive than CSE or ECE, but having backups is still wise. ALL the BEST for Your Son's Prosperous Future!

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