{"id":29071,"date":"2022-08-14T10:29:01","date_gmt":"2022-08-14T04:59:01","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=29071"},"modified":"2022-08-18T17:02:47","modified_gmt":"2022-08-18T11:32:47","slug":"cpc-system-is-there-not-a-deficiency-in-the-system-in-applying-auto-calculation-of-tax-chargeable-under-the-old-and-new-tax-regime","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/cpc-system-is-there-not-a-deficiency-in-the-system-in-applying-auto-calculation-of-tax-chargeable-under-the-old-and-new-tax-regime\/","title":{"rendered":"CPC System &#8211; Is there not a deficiency in the System in applying \/ auto calculation of tax chargeable under the old and new tax regime!?"},"content":{"rendered":"<p>For AY 2021-22<\/p>\n<p>Gross Total Income (Per Tax Return filed) more than Rs 15,00,000<\/p>\n<p>Deduction claimed under Chap. VIA \u00a0(80TTB + 80G)\u00a0 Rs\u00a0 \u00a0 \u00a0 60000<\/p>\n<p>Old RATE auto applied by CPC\u00a0 because of such claim.<\/p>\n<p>If new rate were to \u00a0applied, then the tax charged by CPC is far in excess.<\/p>\n<p>Is that justified\/warranted ?<\/p>\n<p>For my viewpoint&gt;<\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/pulse\/sec-80-ttb-act-surrounding-myth-venkataraman-swaminathan\/\">https:\/\/www.linkedin.com\/pulse\/sec-80-ttb-act-surrounding-myth-venkataraman-swaminathan\/<\/a><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/posts\/venkataraman-swaminathan-8a9b9575_share-tax-activity-6964086386643648513-rKJF\/?utm_source=linkedin_share&amp;utm_medium=member_desktop_web\">https:\/\/www.linkedin.com\/posts\/venkataraman-swaminathan-8a9b9575_share-tax-activity-6964086386643648513-rKJF\/?utm_source=linkedin_share&amp;utm_medium=member_desktop_web<\/a><\/p>\n<p>In short, in my quite arguable view\/firm conviction, based on -COMMON SENSE, PRINCIPLES OF &#8211; EQUITY and GOOD CONSCIENCE , also based on PURPOSIVE INTERPRETATION\u00a0 of the LAW, so long as the taxable income returned does not exceed the BREAK EVEN LEVEL (of chargeable income)#, despite deductions\/exemptions claimed under Chapter VIA, the new tax regime should\u00a0 apply !?<\/p>\n<p># That is the top most income level, computed either with or without CHAPTER VIA deductions\/ exemptions, on which tax chargeable either as per the\u00a0 slab rates under the old tax regime or the new tax regime would work out to the same figure.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[672,653],"class_list":["post-29071","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-cpc-system","qa_tag-processing-of-tax-return-by-cpc"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/29071","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=29071"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=29071"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=29071"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=29071"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=29071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}