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Confused About Paying Taxes on 12 Lakh Salary?

Mihir

Mihir Tanna  |1039 Answers  |Ask -

Tax Expert - Answered on Mar 21, 2025

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
GUPTA Question by GUPTA on Feb 01, 2025Hindi
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why i has to pay tax on 12 lacs salary income confuse

Ans: Technically there is no tax if taxable income upto 12 lakh (except special rate income), as you get rebate equivalent to tax charged. So you have to calculate tax as per slab rate first and reduce tax liability by way of rebate.
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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Asked by Anonymous - Mar 20, 2025Hindi
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Sir, what is the difference between IITs and NITs? Do you think IIITs are better than IITs? Can you please explain and elaborate? Thank you in advance.
Ans: Hello
I would like to mention specifically that IITs have no comparison. IIT-JEE is considered as one of the toughest exam across the globe & hence IITs are the best. Now coming to comparing NIT Vs IIIT, in my view I have considered following points:

IIITs (Indian Institutes of Information Technology) are often considered better than NITs (National Institutes of Technology) for Computer Science and allied courses (like IT, AI, Data Science, etc.) due to several factors.

1. Core Focus on Computer Science & IT
IIITs are dedicated to IT & CS fields, while NITs offer a broad range of engineering disciplines.
Due to this focus, IIITs often have better faculty, research opportunities, and industry collaborations in CS-related fields.
Many IIITs are industry-driven, ensuring that their curriculum is updated with modern technologies like AI, ML, Blockchain, and Cloud Computing.

2. Stronger Industry Connections & Placements
IIITs, especially top ones like IIIT Hyderabad, IIIT Bangalore, and IIIT Delhi, have excellent industry relations.
Companies like Google, Microsoft, Amazon, and Adobe prefer IIITs over most NITs for software roles due to their specialized training.
IIIT Hyderabad, for example, has one of the highest average packages for CSE among engineering colleges in India, even competing with IITs.

3. Better Coding Culture & Research in CS Fields
IIITs have a very strong coding culture, with students excelling in competitive programming (Google Code Jam, ACM ICPC) and hackathons.
They also focus heavily on research and innovation in CS, contributing to AI, ML, and Data Science research worldwide.
IIIT Hyderabad, in particular, has research centers (CVIT, ML Lab, Blockchain Lab, etc.) that rival global universities.

4. Flexible & Modern Curriculum
IIITs usually have a more flexible curriculum, allowing students to take electives in trending areas like AI, Cybersecurity, and Data Science.
Some IIITs have no strict branch system, allowing students to focus on multiple CS fields.
In contrast, NITs follow a more traditional curriculum, which may not be as updated for CS innovations.


5. Higher Coding & Competitive Programming Rankings
IIIT students often dominate Google Summer of Code (GSoC), ACM ICPC, and CodeForces rankings.
IIIT Hyderabad, IIIT Allahabad, and IIIT Delhi are known for their strong competitive coding culture, often outperforming NITs.


When NITs Might Be a Better Option
While IIITs are excellent for CS, there are some cases where an NIT might be preferable:

If considering a non-CS branch, NITs are better because IIITs mainly focus on CS and related fields.
Top NITs like NIT Trichy, NIT Surathkal, and NIT Warangal have excellent placements in CSE, sometimes better than newer IIITs.
NITs have a stronger alumni network, which can help in diverse career opportunities.
NITs offer better campus life and infrastructure, as IIITs often have smaller campuses.

For CSE & allied courses, top IIITs like IIIT Hyderabad, IIIT Delhi, and IIIT Bangalore are usually a better choice than most NITs due to their strong coding culture, placements, research, and industry collaborations. However, for overall campus life, government funding, and non-CS branches, top NITs might be preferable.

...Read more

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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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