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Hemant

Hemant Bokil  |77 Answers  |Ask -

Financial Planner - Answered on Feb 09, 2023

Hemant Bokil is the founder of Sanay Investments. He has over 15 years of experience in the field of mutual funds and insurance.Besides working as a financial planner, he also hosts workshops to create financial awareness. He holds an MCom from Mumbai University.... more
Rashmi Question by Rashmi on Feb 06, 2023Hindi
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After new Budget presentation confusion is going everywhere, why two types of regimes are being forced to to the tax payers? One regime should be proposed with all hopes of benefits to the tax payers?

Ans: Well I believe the logic behind 2 regimes is simple, there are a lot of people who sa e because of tax benefits and a lot of people who don't, so cater both, 2 regimes are needed.
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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Tax Expert - Answered on Feb 01, 2023

Asked by Anonymous - Feb 01, 2023Hindi
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Dear Sir, what is the difference between new and old tax regime as per new budget announced? What are the benefits? My annual salary is 10LPA
Ans: Hi
The difference between the old and new tax regime is that many deductions and exemptions are not available if an individual opts for the new tax regime.

Standard deduction, PT deduction, Mediclaim, Life Insurance, PF, NPS, Donations etc., are some of the common deductions that would not have been available to an individual opting for the new tax regime. The benefit that the individual would get by opting the new tax regime is that she / he would get lower rates of tax slab as compared to an individual opting for old tax regime.

With the new budget proposals, the FM intends to extend atleast 3 distinct benefits to individuals opting for the new tax regime.

1. Standard deduction would be available to be claimed
2. Slab rates of tax has been rationalized (improved) to give better tax relief to the individual
3. Individuals opting for new tax regime have got enhanced Nil tax window of Rs. 7 Lakhs as compared to old tax regime limit of Rs. 5 Lakhs. As your income even after the standard deduction would be above Rs. 7 Lakhs, this benefit is not really applicable to you.

If we look at an income of Rs. 10 Lakhs with standard deduction of Rs. 50000; you would pay Rs. 52,500 under the new tax regime (current budget proposal) as compared to Rs. 67,500 under the new tax regime (last year budget). So effectively comparing apple to apple, you have an additional saving of Rs. 15,000 in taxes
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Study Abroad Expert - Answered on Mar 28, 2024

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My daughter did her graduation in November 2023 from a top-ranked university in Canada - University of British Columbia, Vancouver (QS World Rank within 35). She is interested in a job in the fields of Artificial Intelligence and related software domains. She graduated with an interdisciplinary BSc in Cognitive Systems, including several courses from Computer Science, Artificial Intelligence and Machine Learning, Neuroscience, etc.. Unfortunately, unlike in US universities, there's no Campus Placement facilities available in UBC and most Canadian universities. Please advise how to get into a job in this gloomy economic scenario, in Canada (USA is ruled out because OPT is not available for non-US university graduates).
Ans: Hello Indranil. Thanks for reaching out to us. Given your daughter's background in cognitive systems with coursework in computer science, Artificial Intelligence, Machine Learning and Neuroscience from a prestigious institution like the University of British Columbia (UBC), she has a strong base for having a career in AI and related fields. Although no campus placement is challenging, there are ways to find a job while keeping in mind the gloomy economic condition.

1. Encourage your daughter to leverage her professional network, including alumni, professors, and industry contacts. Attending industry events, seminars, and meetups can provide valuable networking opportunities and help her connect with potential employers or mentors in the field of AI and software development.

2. An online presence, such as having an account on LinkedIn, is important. She can showcase her skills and achievements—both academic and extracurricular—so far, reach out to professionals,etc

For further assistance, you can get in touch with us
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