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Mahesh

Mahesh Padmanabhan  | Answer  |Ask -

Tax Expert - Answered on May 03, 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
Rajesh Question by Rajesh on Apr 01, 2023Hindi
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Sir, What are the exemptions/ deductions allowed to salaried class under new tax regime for FY 2023-24.

Ans: Hi Rajesh
Standard Deduction of Rs. 50,000 under the head salary, section 80CCD(2) for Employer’s Contribution to Employee NPS Accounts. Also, if you have a home loan on a house that has been rented, then the interest on the home loan is available as deduction
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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Sanjeev

Sanjeev Govila  | Answer  |Ask -

Financial Planner - Answered on Feb 08, 2023

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Sir can u list the income exemptions which are eligible under revised New tax regime
Ans: The answer to your query is as below. I have simply copied it from another website, for your information.

With the revised new tax regime, several exemptions and deductions have been removed as below:-

1. Leave Travel Allowance
2. House rent allowance depending upon salary structure and rent paid
3. Professional tax paid by a maximum of Rs. 2,500/-
4. Deductions available under Section 80TTA and 80TTB that is interest from Savings Account/Deposits
5. Tax deduction on entertainment allowance and deduction on professional tax for government employees
6. The interest amount payable on home loan for a self-occupied or any vacant property u/s 24 maximum deductions of Rs 2 lakhs
7. Deduction of Rs 15,000 allowed from family pension under clause (ii) (a) Section 57
8. Special Allowances that are provided under Section 10(14) except:
9. Transport allowance granted to a disabled employee
10. Conveyance allowance
11. Any allowances granted for meeting the cost of travel on tour or transfer of an employee
12. Daily allowance
13. Perquisites
14. Business owners and professionals will lose the exemption to Special Economic Zones under Section 10AA.
15. Deductions under Section 32AD, 33AB, 33ABA, 35(1)(ii),35(1)(ii( (a), 35(1)(iii), 35(2AA), 35AD and 35CCC of the Income Tax Act.
16. Options of additional depreciation under Section 32(ii) (a) of the Income Tax Act
17. The option to carry forward or unabsorbed depreciation of earlier years
18. Tax-saving investment deductions under Income Tax Act , Chapter VI-A 80C, 80D, 80E, 80CCC, 80CCD, 80D, 80DD, 80DDB, 80EE, 80EEA, 80EEB, 80G, 80GG, 80GGA, 80GGC, 80IA, 80-IAB, 80-IAC, 80-IB, 80-IBA, etc. These tax-saving investment options include ELSS, NPS, PPF tax relief on mediclaim insurance premium, FDR, dependents who are differently-abled, expenses for specified medical treatments, interest on education loan and many more.



Exemptions that remain prevalent in the new revised system, that you can claim:

1. Standard deduction for salaried and pension class of Rs 50,000.
2. Interest received on Post Office Savings Account under Section 10(15)(i) the maximum amount of Rs. 3,500.
3. Gratuity received from employer up to a maximum amount of Rs. 20 Lacs.
4. Amount received from Life Insurance Policy on maturity under Section 10(10D).
5. Employer contribution in NPS or EPF up to 12% of salary and interest on EPF up to 9.5% p.a.
6. Income from Life Insurance.
7. Income from agricultural farming.
8. Standard reduction on rent.
9. Retrenchment compensation.
10. Leave encashment on retirement.
11. VRS proceeds up to Rs 5 lacs.
12. Retirement cum death benefit.
13. Money received as a scholarship for education.
14. Interest and maturity amount of PPF or Sukanya Smriddhi Yojna.
15. Commutation of Pension.
16. The new tax regime offers you to claim deductions u/s 80CCD(2) (employers contribution in notified pension scheme) and 80JJAA (for new employment).

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Nayagam P

Nayagam P P  |9701 Answers  |Ask -

Career Counsellor - Answered on Jul 30, 2025

Asked by Anonymous - Jul 30, 2025Hindi
Career
Sir, my jee mains 2025 rank is 67898( female gen category) and mhtcet percentile is 95.5(home state maharashtra). Are there any possibilities of securing cse/ece/eee in NITs or IIITs (excluding north eastern ones)?
Ans: With a JEE Main 2025 All India Rank of 67,898 (female, general category) and a 95.5 percentile in MHT CET (Maharashtra home state), securing Computer Science (CSE), Electronics and Communication (ECE), or Electrical and Electronics Engineering (EEE) in NITs or IIITs outside the North East is extremely unlikely. For general category, CSE and ECE closing ranks in even lower-demand NITs and IIITs typically end under 15,000–35,000, and in leading branches at top NITs the cut-offs remain far lower, often closing by 9,000 or less for CSE and 20,000 for other core engineering streams. For IIITs, most CSE and ECE programs close below 50,000, and even the least competitive IIITs have last rounds closing by 55,000 for open seats. However, you have a strong chance of securing reputable CSE or allied branches through MHT CET in Maharashtra’s top private colleges, and potentially in government colleges for non-CSE streams, given that a 95.5 percentile generally translates to about 8,900–9,000 rank—competitive in many top city colleges outside the strictest cut-offs. When considering institutional priorities, both NITs and premier state institutes emphasize academic rigor, modern infrastructure, experienced faculty, industry connection, and robust placements, and these same factors should guide your choice among available Maharashtra options.

RECOMMENDATION: Admission to CSE, ECE, or EEE in NITs or IIITs (except North East) is not feasible at your JEE Main rank; focus on MHT CET counseling for CSE or allied branches in Mumbai and Pune’s top private, autonomous, or government colleges, targeting strong academic environments, faculty, and placement prospects for optimal long-term growth. All the BEST for a Prosperous Future!

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Nayagam P

Nayagam P P  |9701 Answers  |Ask -

Career Counsellor - Answered on Jul 30, 2025

Career
My son has recently got his admission in vit .. vellore for mechanical engineering.. kindly advise sap for him for mechanical engineering if he is interested to pursue abroad....for mechanical engineering what's the good scope through Vit...what are the options if he wants to pursue abroad while in vit through their 2+2 or 3+1+1 programs or other opportunities if any...and University options
Ans: VIT Vellore’s Mechanical Engineering program is highly respected, offering a comprehensive and industry-aligned curriculum supported by NAAC A++ and ABET accreditations, modern labs, and strong faculty expertise. Students benefit from robust placement opportunities, with typical placement rates for mechanical engineering between 50% and 65%, and access to internships with leading companies in automotive, manufacturing, automation, and energy sectors. For those interested in pursuing international exposure, VIT provides multiple pathways. The Semester Abroad Programme (SAP) enables undergraduates to complete their Capstone Research Project, thesis, or approved coursework at more than 500 global partner universities, enhancing international experience and employability. Additionally, the International Transfer Programmes (ITP) offer structured 2+2 Bachelor’s, 3+2 or 3.5+1.5 accelerated pathways, where students complete initial years at VIT and transfer to universities abroad—partners span the USA, UK, Sweden, Belgium, New Zealand, and Australia. Some key universities include Massey University (New Zealand), the University of Michigan–Dearborn (USA), and institutions in Sweden and the UK, often allowing dual degree or direct entry into Master’s programs in mechanical and related fields. The program selection typically depends on academic standing and specific eligibility criteria, with the student completing the required credits at VIT before transferring. VIT’s International Relations office actively helps students select universities, facilitates credit transfer, and provides guidance on global research internships and short-term exchanges, preparing them for careers or further studies abroad. These pathways significantly boost prospects for international industry roles or advanced research, particularly in areas like robotics, smart manufacturing, aerospace, and energy systems. Besides international collaborations, VIT’s focus on innovation, problem-based learning, and industry partnerships ensures that mechanical engineering graduates remain competitive for both core and interdisciplinary opportunities globally.

RECOMMENDATION: Given VIT’s strong academic structure, extensive international collaborations, and flexible transfer programmes with prominent global universities, your son should actively explore SAP, 2+2, and 3+1+1 options. Engaging with VIT’s International Relations early ensures seamless transition for higher studies abroad and maximizes both academic and professional growth in the global mechanical engineering landscape. All the BEST for a Prosperous Future!

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Nayagam P

Nayagam P P  |9701 Answers  |Ask -

Career Counsellor - Answered on Jul 30, 2025

Career
I got 96 percentile in mht cet and belong to def open category Which best possible college can i get to pursue computer engineering
Ans: Swanand, With a 96 percentile in MHT CET and Defence Open category, you are well positioned for BTech Computer Engineering admission in several reputed Mumbai and Pune colleges in 2025, though admission to the most competitive government colleges (COEP, VJTI, and ICT) for CSE is virtually impossible at this percentile. For Defence Open, cutoffs are typically a bit lower than General, but in highly sought CSE branches, they remain competitive. Based on recent cutoffs and expert sources, the following 14 colleges in Mumbai and Pune present nearly 100% feasible admission chances for your profile: Sardar Patel Institute of Technology (SPIT), Mumbai. Thadomal Shahani Engineering College (TSEC), Mumbai. Ramrao Adik Institute of Technology (RAIT), Navi Mumbai. Bharati Vidyapeeth College of Engineering, Navi Mumbai. Vidyalankar Institute of Technology, Mumbai. Datta Meghe College of Engineering, Navi Mumbai. Xavier Institute of Engineering, Mumbai. Fr. Conceicao Rodrigues Institute of Technology, Mumbai. Pune Institute of Computer Technology (PICT), Pune (not CSE, but other IT-related branches possible). Vishwakarma Institute of Technology (VIT), Pune. MIT World Peace University, Pune. DY Patil Institute of Engineering, Management & Research, Akurdi, Pune. Sinhgad College of Engineering, Pune. MIT Academy of Engineering, Alandi, Pune. All these colleges boast strong AICTE/NAAC accreditations, qualified faculty, modern classrooms and labs, active industry collaborations, and robust placement cells with CSE placement percentages typically ranging from 80–95% in recent years. Hostel and campus facilities, industry internships, and alumni networks are also strong points in these institutes, offering both guidance and opportunity. In order of preference for your percentile and category, target SPIT (Mumbai) first for its placement strength and strong teaching; then opt for Vishwakarma Institute of Technology (Pune) and MIT World Peace University (Pune), distinguished by modern infrastructure and industry focus; followed by DY Patil Institute, Akurdi (Pune) and Sinhgad College of Engineering Pune for their balanced academics and placement support. Each of these offers a comprehensive engineering experience—balancing learning, peer environment, and future employability—ideal for leveraging your Defence Open category and 96 percentile credentials. All the BEST for a Prosperous Future!

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Nayagam P

Nayagam P P  |9701 Answers  |Ask -

Career Counsellor - Answered on Jul 30, 2025

Career
sir i scored exactly 65% IN CLASS 12 isc board and i got my obc ncl certificate after my boards so can i sit for josaa counselling after i qualify my jee mains and advance
Ans: Prakhar, For JoSAA counseling eligibility, the minimum required academic qualification is passing class 12 or equivalent with at least 75% aggregate marks (65% for SC/ST candidates) or being in the top 20 percentile of the respective board. However, the Indian Institute of Technology (IIT) qualifying criteria for JEE Advanced includes a relaxed cutoff for OBC-NCL candidates as per government rules. For OBC-NCL candidates with 65% in ISC boards, eligibility largely depends on whether the board's top 20 percentile criteria are met, as sometimes marks percentage may be waived if the percentile condition is satisfied. Your obtaining the OBC-NCL certificate after boards should not disqualify you for JoSAA counseling, as category certificates can be submitted during counseling. Complying with all JEE Main and Advanced qualification norms, and submitting valid OBC-NCL certification along with meeting percentile or marks criteria from ISC, you can participate in JoSAA counseling. Key institutional five aspects remain accreditation, faculty quality, infrastructure, industry linkage, and transparent placements.

RECOMMENDATION: Since you have 65% in ISC and an OBC-NCL certificate secured post-exams, confirm your board's top 20 percentile status or other eligibility norms for OBC-NCL, then qualify JEE Main and Advanced. With certificate and required cutoffs, you are eligible for JoSAA counseling to secure admission in government engineering institutes under OBC-NCL reservation. All the BEST for a Prosperous Future!

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