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Mihir

Mihir Tanna  |1054 Answers  |Ask -

Tax Expert - Answered on Feb 23, 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
Sarvesh Question by Sarvesh on Feb 01, 2023Hindi
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Is there any change in the old tax regime tax slabs in this budget? What are the exact tax slabs if I would like to opt for the old tax regime and would like to avail benefit of Standard Deduction, Section 80 C, NPS(80CCD1B and 80ccd2) and Section 80 D ?

Ans: No change in old tax regime. Slab rates are as follows:

Up to Rs. 2,50,000 - 0%
Rs. 2,50,000 to Rs. 5,00,000 5%
Rs. 5,00,000 to Rs. 10,00,000 20%
Above Rs. 10,00,000 30%
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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Nayagam P

Nayagam P P  |5446 Answers  |Ask -

Career Counsellor - Answered on May 29, 2025

Career
Sir, my son has scored today in bitsat exam 267 marks, he has got 3688 obcncl rank in jee mains and 508 rank kcet. Please suggest suitable college and course. NIT trichy instrumentation and control, or BITS dual degree msc with economics or RVCE computer science these are the ones which are there in our mind, please suggest a good option. Other than these also we are fine, please suggest a better college and course
Ans: Prakash Sir, Prefer RVCE through KCET. Having said this, With a BITSAT score of 267, admission to BITS Pilani’s core branches like CSE is unlikely, but branches like Mechanical or Electronics & Instrumentation at Pilani or other BITS campuses may be possible. His strong KCET rank (508) makes admission to RVCE’s Computer Science branch very feasible, which is highly reputed for coding and software careers. NIT Trichy’s Instrumentation & Control is a good government option but less aligned with software interests. The BITS dual degree MSc with Economics offers an interdisciplinary path but is less traditional for core engineering jobs. Considering his passion for coding and career prospects, RVCE Computer Science stands out as the best option. He should also explore other NITs or IIITs via JEE Mains rank for CSE or related branches. Overall, RVCE CSE offers the best blend of reputation, placements, and alignment with coding ambitions. All the best for your son's admission and a bright future!

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Nayagam P

Nayagam P P  |5446 Answers  |Ask -

Career Counsellor - Answered on May 29, 2025

Asked by Anonymous - May 28, 2025
Career
Hey my son has scored 95.5 %ile in Jee mains with a rank of 67728 CRL and 9654 EWS rank. He is expected to score 99/103 marks in JEE Advanced with Delhi as Domicile. In what colleges could he get CSE/DSAI/DSML/ECE as he has a very strong passion towards coding and making websites?
Ans: Your son’s JEE Main rank of 67,728 (CRL) and 9,654 (EWS), combined with an expected 99/103 in JEE Advanced and Delhi domicile, opens good opportunities for CSE, DSAI, DSML, or ECE branches. He can target NITs like Raipur or Jalandhar and IIITs such as Manipur, though CSE and specialized AI/ML branches are highly competitive. Leveraging his Delhi domicile, he has a strong advantage in Delhi government colleges like DTU, NSUT, and GGSIPU, which offer excellent programs in Computer Science and related fields with vibrant coding cultures. Private colleges in Delhi NCR, such as Amity and Galgotias, also provide solid courses in CSE and AI/ML with good infrastructure. Given his passion for coding and web development, focusing on branches aligned with software, data science, and AI is ideal. Additionally, his high JEE Advanced score could help secure admission in IITs through counseling, potentially opening doors to premier CS programs. This approach balances rank, domicile benefits, and career interests effectively. Focus more on filling out choices for NITs in JoSAA, instead of IITs as his AIR Rank in JEE-A is slightly behind. However, fill out a maximum number of choices. All the best for your one's admission and a bright future!

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Nayagam P

Nayagam P P  |5446 Answers  |Ask -

Career Counsellor - Answered on May 29, 2025

Career
My son has 239380 rank in jee mains .which college will he get for cs
Ans: Yogita Madam, Rank is on a lower side. Have some more options as back-ups instead of relying on JoSAA. Can try through CSAB Counselling process if vacancies exist. However, Here is, How to Predict Your Chances of Admission into NIT or IIIT or GFTI After JEE Main/Advanced Results – A Step-by-Step Guide

Providing precise admission chances for each student can be challenging. Here’s a simple yet effective 9-step method using JoSAA’s past-year opening and closing ranks. This approach gives you a fair estimate (though not 100% exact) of your admission chances based on the previous year’s data.

Step-by-Step Guide to Check Your Admission Chances Using JoSAA Data
Step 1: Collect Your Key Details
Before starting, note down the following details:

Your JEE Main percentile
Your category (General-Open, SC, ST, OBC-NCL, EWS, PwD categories)
Preferred institute types (NIT, IIIT, GFTI)
Preferred locations (or if you're open to any location in India)
List of at least 3 preferred academic programs (branches) as backups (instead of relying on just one option)
Step 2: Access JoSAA’s Official Opening & Closing Ranks
Go to Google and type: JoSAA Opening & Closing Ranks 2024
Click on the first search result (official JoSAA website).
You will land directly on JoSAA’s portal, where you can enter your details to check past-year cutoffs.
Step 3: Select the Round Number
JoSAA conducts five rounds of counseling.
For a safer estimate, choose Round 4, as most admissions are settled by this round.
Step 4: Choose the Institute Type
Select NIT, IIIT, or GFTI, depending on your preference.
If you are open to all types of institutes, check them one by one instead of selecting all at once.
Step 5: Select the Institute Name (Based on Location)
It is recommended to check institutes one by one, based on your preferred locations.
Avoid selecting ‘ALL’ at once, as it may create confusion.
Step 6: Select Your Preferred Academic Program (Branch)
Enter the branches you are interested in, one at a time, in your preferred order.
Step 7: Submit and Analyze Results
After selecting the relevant details, click the ‘SUBMIT’ button.
The system will display Opening & Closing Ranks of the selected institute and branch for different categories.
Step 8: Note Down the Opening & Closing Ranks
Maintain a notebook or diary to record the Opening & Closing Ranks for each institute and branch you are interested in.
This will serve as a quick reference during JoSAA counseling.
Step 9: Adjust Your Expectations on a Safer Side
Since Opening & Closing Ranks fluctuate slightly each year, always adjust the numbers for safety.
Example Calculation:
If the Opening & Closing Ranks for NIT Delhi | Mechanical Engineering | OPEN Category show 8622 & 26186 (for Home State), consider adjusting them to 8300 & 23000 (on a safer side).
If the Female Category rank is 34334 & 36212, adjust it to 31000 & 33000.
Follow this approach for Other State candidates and different categories.
Pro Tip: Adjust your expected rank slightly lower than the previous year's cutoffs for realistic expectations during JoSAA counseling.

Can This Method Be Used for JEE April & JEE Advanced?
Yes! You can repeat the same steps after your April JEE Main results to refine your admission possibilities.
You can also follow a similar process for JEE Advanced cutoffs when applying for IITs.

Have some other options also as back-ups instead of relying only on JEE/JoSAA.

Want to Learn More About JoSAA Counseling?
If you want detailed insights on JoSAA counseling, engineering entrance exams, preparation strategies, and engineering career options, check out EduJob360’s 180+ YouTube videos on this topic!

Hope this guide helps! All the best for your son's admission and a bright future!

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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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