Home > Money > Question

Sign In | Create an account

Language:

Now in हिन्दी too

Need Expert Advice?Our Gurus Can Help

35 Years Old, Earning 15LPA - How Can I Save Tax Under Old Tax Regime?

Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on Aug 28, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more

Asked by Anonymous - Jul 25, 2024Hindi

Money

What are the changes in income tax announced in the budget in 2024? I am 35, earning a salary of 15LPA. How can I save tax in old tax regime?

Ans: The below are the types of deductions you can claim under the old tax regime -

1. Investment in PPF/NSC/ Insurance: INR 150000
2. Mediclaim - depending upon self and / or dependents : INR 25000 / INR 50000 or INR 75000 (incase either parent is a senior citizen)
3. Interest on savings bank account interest to the extent of INR 10000
4. You can claim housing rent allowance from your salary income incase you live on rent.
5. Other deductions depend upon whether you have housing loan or education loan etc.
6. Investment in National Pension scheme : INR 50000

Please consult your CA before moving ahead.

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.

MoneyReply

You may like to see similar questions and answers below

Mihir Tanna |1018 Answers |Ask -Follow

Tax Expert - Answered on Feb 04, 2023

Question by Ramesh - Feb 02, 2023Hindi

My gross income is 15 lakhs. I invested 1.5 Lakh in tax saving FD. Please give calculation ìn new regime as well as old one for AY 2023-24 as well as for AY 2024-25

Ans: If taxable income of person is Rs.15,00,000 after claiming deduction of Rs.1,50,000 under 80C; tax liability will be Rs.217500 plus cess under old regime for AY 23-24 and 24-25. However, under new regime before Budget 2023 tax liability was Rs.1,87,500 (for AY 23-24) after proposal of Budget 2023 as per new slab rate tax liability will be Rs.1,50,000.

Mihir Tanna |1018 Answers |Ask -Follow

Tax Expert - Answered on Feb 07, 2023

Question by satyapal - Feb 06, 2023Hindi

Money

WHAT CHANGES ARE IN 2023 BUDGET FOR INCOME TAX ON EARNINGS FROM FIXED DEPOSITS OR SCSS SCHEME FOR Sr CITIZENS.I AM 72YRS/

Ans: For senior citizen specifically no new benefits are announced. However, Senior citizen can take benefit of revised rate of tax under new tax regime and if income is upto 7 lacs, senior citizen can also take benefit of 100% rebate of tax.

Mihir Tanna |1018 Answers |Ask -Follow

Tax Expert - Answered on Feb 03, 2024

Asked by Anonymous - Feb 01, 2024Hindi

Money

After Interim Budget 2024, how will income be taxed? Any changes?

Ans: No change made in Budget 2024 for personal income tax.

Latest Questions

Rajesh Kumar Singh |92 Answers |Ask -Follow

IIT-JEE, GATE Expert - Answered on Feb 22, 2025

Asked by Anonymous - Feb 22, 2025Hindi

Career

I got 94.5 in jee mains OBC NCL Can i get seat in nit

Ans: Chances slim

Rajesh Kumar Singh |92 Answers |Ask -Follow

IIT-JEE, GATE Expert - Answered on Feb 22, 2025

Question by Manoj - Feb 22, 2025Hindi

Career

My son has 98.32 percentile can he get CSE in any NIT or IIIT

Ans: Category, for general No

Rajesh Kumar Singh |92 Answers |Ask -Follow

IIT-JEE, GATE Expert - Answered on Feb 22, 2025

Question by Govind - Feb 22, 2025Hindi

Career

Can I get Nilet aurgabad maharastra with 88 percentile in jee OBC category

Ans: Chances Slim

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Asked by Anonymous - Feb 22, 2025Hindi

Career

Sir my son got 84 percentile jee main (Session 1 jan 2025), He also got a seat in electrical and computer engineering in Shiv Nadar, Greater Noida. CSC in Bennett university (Greater Noida). Which is a better choice ? 12th is done from Delhi

Ans: Hello dear.
Prefer CSE @ Bennett.

If you like the reply, pl follow me else ask again without any hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Question by Pal - Feb 22, 2025Hindi

Career

My son got 98.52 per in jee 2025. Can he get admission CS in delhi

Ans: Hello Pal
Yes. He can get admission to CSE in Delhi.

If you like the reply, pl follow me else ask again without any hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Question by nishtam - Feb 22, 2025Hindi

Career

Hello sir this is Nishat , I passed my 12th in the year 2023 with a good percentage but however I couldn’t see it for chemistry exam. So obviously I failed in that subject so I decided to again reappear for that exam and in 2024 I gave betterment exam from my state board in the subject biology and chemistry. However I scored far better in biology than last time but (Chemistry) I don’t know maybe it’s it’s because of the issues that we have with our board. I couldn’t score good marks so even I had decided to give (Chemistry) separately and so in 2024. I again set for (Chemistry) exam under nios I and I scored 80 so now the thing is that I’ll be having two mark sheet so while applying in need I cannot possibly select the code 2 because although I already have the state board certificate but the NIOS certificate is not yet out and it will be out by end of the March sir can I possibly select the code one that is appearing or will it create problems while counselling or is there any other option please help me out sir , I’m very desperate like I have prepared for neey for the last two years and I don’t want to put my hard work into vain. Please Sir help me out

Ans: Hello Nishtam
Please select code 1 without any fear. Focus more on your study. But considering your fear and anxiety with the chemistry subject, it is recommended that you choose other options than NEET. This time you appear without any fear.

If you like the reply, please follow me else ask again without hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Asked by Anonymous - Feb 21, 2025Hindi

Career

Sir I'm a pcb student but in cet from I have apper for pcm in my 12 i have dropped maths

Ans: Hello dear
If you have dropped Maths, then how can appear PCM CET? Your question is not clear. Please ask again in the follow-up section.
If you like the reply, please follow me else ask again without hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Asked by Anonymous - Feb 21, 2025Hindi

Career

Can I get nit trichy with 99.6 percentile in general category for admission into CSE

Ans: Hello dear.
Your chances are bright to get CSE in any tier 1 NIT also in Trichy.

If you like the reply, please follow me else ask again without hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Question by Prantika - Feb 21, 2025Hindi

Career

I got 94.15 percentile in jee 2025, general category,i just wanted to ask should i prepare for mains 2 + advance or just mains 2

Ans: Hello Prantika
Please prepare for JEE (Mains)-2 only.

If you like the reply, please follow me else ask again without hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1228 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 22, 2025

Asked by Anonymous - Feb 22, 2025Hindi

Career

I got 94.83 percentile in jee main 2025 first attempt pls suggest me the colleges and it's possible branches I am general ews

Ans: Hello Dear.
With a score of 94.83, you can get admission to top engineering branches in reputed colleges. There are many branches and you have to choose as per your interest. Please do not choose the branch on the advice of any counselor. Your choice matters more.
If you like the reply, please follow me else ask again without hesitation.
Thanks
Radheshyam

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.

Video Reply
Audio Reply

WhatsApp
Facebook
Twitter
Copy link

Delete

Close

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus

Sign up

email

uname

mobile no

Country Code

Mobile number

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

LOGIN

x