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Mihir Tanna |975 Answers |Ask -Follow

Tax Expert - Answered on Mar 13, 2023

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

Question by N on Mar 04, 2023Hindi

Money

My wife has an estimated income of Rs. 450000 by way of bank/post office interest.She has no savings this FY ( FY 2022-23) to get the benefit of 80C . She is a senior citizen aged 70 years. Does her income attract income tax ? What investment should she do to avoid tax ? .Dose she eligible for deduction of Bank deposit interest of 50000 under 80TTB ?

Ans: Yes, post deposits and bank deposits are eligible for deduction u/s 80TTB for senior citizen.

Further, rebate of Rs.12,500 is available for person earning taxable income upto Rs.5 lakhs. Thus, after considering rebate, there will not be tax liability.

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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My wife has an estimsted income of Rs. 450000 by way of bank/post office interest.She has no savings this FY ( FY 2022-23) to get the benefit of 80C . She is a senior citizen aged 70 years. Does her income attract income tax ? What investment should she do to avoid tax ? .

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Sir I am studying mechanical engineering at bvb hubli but I want to join mit usa for mechanical engineering.i took loan for my studies ...should I study for engineering and asat for mit or only concentrate on engineering...please help me sir , because my family financially very poor I don't want my parents to struggle for my wishes and goals....but I want to be a best mechanical engineering

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I have taken a group health insurance policy from a bank where I have a saving account five years ago without any medical checkup. I have not availed any claim and there was no preexisting disease. I am taking 5 mg of prednisolone daily for last five years for a skin disease. Will this affect my future claim if arises any? I am worried about this .

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Sir, I am ok with a 10 Year time frame, Can u suggest choice of Felxicap / large and mid cap MF,

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Question by srinivasarao - Dec 18, 2024Hindi

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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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