Answers On Topic: CPC system
  CPC System – Is there not a deficiency in the System in applying / auto calculation of tax chargeable under the old and new tax regime !?
To my questions ASKED, > "Answer given by Advocate Shashi Ashok Bekal The new tax regime DOES NOT AUTOMATICALLY APPLY # to any assessee. Once the new regime is selected the assessee cannot go back to the old regime. FURTHER, IT IS VERY MUCH POSSIBLE THAT THE TAX LIABILITY COULD BE LESS IN THE OLD REGIME VIS-A-VIS THE NEW REGIME, ESPECIALLY WHEN THE ASSESSEE IS CLAIMING DEDUCTIONS UNDER CHAPTER VIA OF THE ACT.  #" FONT (supplied) < ?!? #/## Me understand that the CPC System in place does not at all permit a taxpayer to automatically upload the completed applicable…


► Read Answer

  CPC System – Is there not a deficiency in the System in applying / auto calculation of tax chargeable under the old and new tax regime!?
For AY 2021-22 Gross Total Income (Per Tax Return filed) more than Rs 15,00,000 Deduction claimed under Chap. VIA  (80TTB + 80G)  Rs      60000 Old RATE auto applied by CPC  because of such claim. If new rate were to  applied, then the tax charged by CPC is far in excess. Is that justified/warranted ? For my viewpoint> https://www.linkedin.com/pulse/sec-80-ttb-act-surrounding-myth-venkataraman-swaminathan/ https://www.linkedin.com/posts/venkataraman-swaminathan-8a9b9575_share-tax-activity-6964086386643648513-rKJF/?utm_source=linkedin_share&utm_medium=member_desktop_web In short, in my quite arguable view/firm conviction, based on -COMMON SENSE, PRINCIPLES OF - EQUITY and GOOD CONSCIENCE , also based on PURPOSIVE INTERPRETATION  of the LAW, so long as the taxable income returned does not exceed the…


► Read Answer