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Nikunj Saraf |308 Answers |Ask -Follow

Mutual Funds Expert - Answered on Feb 04, 2023

Nikunj Saraf has more than five years of experience in financial markets and offers advice about mutual funds. He is vice president at Choice Wealth, a financial institution that offers broking, insurance, loans and government advisory services. Saraf, who is a member of the Institute Of Chartered Accountants of India, has a strong base in financial markets and wealth management.... more

Question by Pradeep on Feb 03, 2023Hindi

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What is the amount of Standard Deduction announced for new Regime? Is it Rs. 50,000/- or Rs. 52,500/-?

Ans: Hello Pradeep

As a financial advisor, I would advise you to consult a chartered accountant for specific tax planning advice. They have expertise and in-depth knowledge of tax laws and regulations and can provide you with personalized strategies to minimize your tax liability. I can assist you in creating a comprehensive financial plan, but for tax planning, it is best to consult a tax professional.

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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Sir, Good Evening....I wanted to know what r the deductions allowed, if i opt for IT new regime, my gross salary is 14.70 lakh, kindly guide pls

Ans: Hi
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Is standard deduction introduced under new tax regime applicable to salaried and pensioners irrespective of their income or only if income is greater than 15.5 lacs? Tanmoy Bhattacharyya

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Question by Mugalur - Mar 31, 2023Hindi

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sir, under IT new tax regme, I am told that for pensioners standard deduction of Rs 50,000 is allowed kindly clarify wheher this position is correct. Further, Sir, under new regime deductions such as disability rebate of Rs 75 ,000 u\s 80 U and health insurance premium of Rs 20,000 are allowed Kindly advise me.

Ans: Hi Mugalur
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The other deductions stated by you would not be available under the new tax regime

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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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