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Mahesh Padmanabhan |124 Answers |Ask -Follow

Tax Expert - Answered on Feb 20, 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

Question by adhir on Feb 01, 2023Hindi

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What happens after the tax free slab of Rs7 lacs?

Ans: Hi Adhir
There is no tax free slab of Rs. 7 Lakhs but if the income is below Rs. 7 Lakhs and if you opt for the new tax regime then you are eligible for a rebate that could make the tax liability Nil.

Nevertheless, if your income exceeds Rs. 7 Lakhs then you may still opt for the new tax regime to leverage on the lower tax slabs (you would not be eligible to the rebate as provided under section 87A though).

In this context, you would need to evaluate the option that you want to go ahead with so as to check the see which regime provides you the lowest tax 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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Mahesh Padmanabhan |124 Answers |Ask -Follow

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Question by Ananda - Feb 01, 2023Hindi

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Hello , my query to you on a total income of Rs 16 Lacs, what will be the tax applicable under the new regime?

Ans: Hi Ananda
As compared to the old tax regime, you would be better off in the new tax regime. The tax savings could be about Rs. 1.30 Lakhs

In case you had opted the new tax regime in the last year as well then between last year and the current year, your tax savings would be about Rs. 54,000

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Question by R - Feb 20, 2023Hindi

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Up to Rs 7 lac tax free . Whether the Rs 7 lacs includes the short term or long term sale of shares .pl clarify . R.Narayanan -M:7506745498

Ans: Hi
While the Rs. 7 Lakh threshold is for all income; incomes that come with fixed rate of tax may need to be evaluated considering the amount of income in the regular tax slab rate.

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Question by PRAVIN - Mar 01, 2023Hindi

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Sir in new tax regime 7 lacs + 1 lac LTCG so Total 8 lac is free?

Ans: No, as soon as your total income exceeds 7 lacs, you are not eligible for 87A rebate. Accordingly slab rate will be applicable on 7 lacs of income

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Question by BHAVESH - Feb 01, 2025

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CAN YOU PLEASE GIVE CLARITY OIN NEW TAX SLABS PLEASE. IF A PERSON IS DRAWING A SALARY OF RS.48.00 LACS HOW MUCH TAX WILL BE DEDUCTED

Ans: Selection of tax regime will decide tax liability and depending on eligibility of amount of deduction/exemption, tax liability will be calculated.

Considering income of 48 lacs, under old tax regime gross tax liability will be Rs.13,02,600 and under new tax regime it will be Rs.10,60,800.

You can calculate tax liability, using advance income tax calculator available at following link:

https://eportal.incometax.gov.in/iec/foservices/#/TaxCalc/calculator

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Question by SUJAY - Feb 02, 2025Hindi

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If anyone having 8 lacs salary income and 6 lacs as capital gain..how much tax he has to pay in new tax regime ?

Ans: Salary income is taxed at slab rate i.e. from 3 to 7 lacs 5% and 7 to 10 lakhs 10% in FY 2023-24.

Tax on capital gain will depend on date of sale as tax rate is changed from 23rd July. Tax rate also depends on type of gain i.e. short or long term.

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I got 101522 rank jee mains and 90000 rank in viteee. Can I get a best college with low fee and higher package college

Ans: Based on JEE Main Rank (1,01,522)
???? Chances in Government Colleges (through JoSAA/CSAB)
With this rank and assuming General Category, you might get:

Lower or core branches in newer IIITs or NITs (like Civil, Metallurgy, or Bio-Tech) in the spot/CSAB rounds.

GFTIs like:

Assam University, Silchar

Gurukula Kangri, Haridwar

BIT Mesra (off-campuses)

Action: Participate in CSAB special rounds — sometimes CSE seats open up unexpectedly.

Based on VITEEE Rank (90,000)
At VIT Vellore or Chennai, it's unlikely you’ll get core CSE.

You can expect branches like:

Electronics and Computer Engineering

ECE, EEE, or Bio-related branches at VIT Bhopal or AP

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Sir, my son got 98.62% in JEE main and he wants to go to core branch like electrical and mechanical engineering. Is it possible

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Question by Rakhi - May 25, 2025

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Hello Sir, I got 86percentile in jee mains , I'm a girl candidate with EWS with delhi state quota. Is there any good clg that I can get? If cse is my preference

Ans: IGDTUW (for Girls only)
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CSE at IGDTUW closes earlier for EWS girls (usually under 65k–70k CRL approx).

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With 86 percentile, CSE at IIIT-D is unlikely, but allied specializations like CS+Design or CS+SS may be considered in later rounds, though tough.

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I am in sc catagory my JEE mains percentile is 83 can I get into nit ?

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Question by Babloo - May 28, 2025

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This is prathyush from tamil nadu, I've just completed my grade 12 , I have written both jee mains paper 1(BE/B tech) and paper 2(b arch and b planning) unfortunately I didn't get selected in paper 1 , but I've secured 74.4 percentile in b arch and 86.1 percentile in b planning.. I'm looking up for any good colleges or Institutes to study b arch or b planning. Could you suggest me any good college or institute into which I can get in with my marks to study b arch and b planning

Ans: Hello Babloo.
Your likelihood of being admitted to renowned B. Arch institutions is moderate. However, this may be achievable in respected private institutions. We cannot recommend the names of colleges located throughout all of India. We encourage you to engage fully in the counseling process to discover additional possibilities.
Best of luck to you.
Follow me if you like the reply. Thanks
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Asked by Anonymous - May 28, 2025

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I am getting 582 marks in neet UG 2025 from general category.Can I get a government college

Ans: Hello dear
A score of 582 gives you a good opportunity to secure a place in GMC. Advance congratulations to you.
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Question by Kapil - May 28, 2025

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My daughter is getting integrated M Tech in Cyber security or AI in VIT Bhopal and B.Tech CSE in Banasthali Vidhyapeeth in Rajasthan. She got 87% in 12th CBSE and We belongs to Rajasthan only. What should we prefer?

Ans: Hello Kapil
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Best of luck to you.
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Asked by Anonymous - May 28, 2025

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My daughter got 90.5 percentile in sc category. My hometown is WB. Which NITcollege I got and which stream?

Ans: Hello Dear
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Best of luck to you.
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Question by Sunny - May 28, 2025

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My daughter get 72% in 12th with PCM and she want to take admission in Btech Computer science with AI an ML kindly suggest me best college as per her eligi6

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Kindly reach out to the administrative office of a private college to inquire about the availability of seats for Computer Science Engineering under the management quota. Please avoid requesting help from any representatives or advisors. Contact the administrative office directly.
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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.

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