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Sushil

Sushil Sukhwani  |555 Answers  |Ask -

Study Abroad Expert - Answered on Jun 12, 2024

Sushil Sukhwani is the founding director of the overseas education consultant firm, Edwise International. He has 31 years of experience in counselling students who have opted to study abroad in various countries, including the UK, USA, Canada and Australia. He is part of the board of directors at the American International Recruitment Council and an honorary committee member of the Australian Alumni Association. Sukhwani is an MBA graduate from Bond University, Australia. ... more
SRABANI Question by SRABANI on May 28, 2024Hindi
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Career

My son is 5th sem BTech(MSE) student in IIT Kanpur. He is very much interested to do MS/ Research in ML/ Robotics in USA. His seniors discouraged him as are financially insolvent to bear the burden. Please advise what would be the best option for him..

Ans: Hello Srabani. Thank you for reaching out to us. It is understandable that pursuing an MS or research opportunities in machine learning (ML) and robotics in the USA is financially demanding. However, let me tell you that you have the option of taking out an education loan to pursue studies in the US. In addition to this, there are university scholarships and external scholarships offered by various organisations. As you go to study abroad, you may find research assistantships (RA) and teaching assistantships (TA) that waive tuition fees and do provide a stipend. Your son can also choose to do internships to cover his living expenses. While the financial challenges of pursuing an MS or research in ML and robotics in the USA are significant, scholarships, internships, and assistantships would be a viable option for achieving his academic goals.

For any further queries, please get in touch with us. We have a team of expert counsellors who can guide you through any concerns or questions you may have.

Website- https://www.edwiseinternational.com/

You can follow us on our Instagram page, @edwiseint.
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Study Abroad Expert - Answered on Jul 04, 2023

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My son wants to go for MS degree in US. He is working as software engineer for one year now. Please advise pros and cons. Thanks,
Ans: Hello Sreekumar,

To begin with, thank you for contacting us. Choosing to pursue a Master of Science (MS) degree in the United States can be a significant decision with several pros and cons to consider. Here are some factors to keep in mind:

Pros:
1. Advanced Education: An MS degree can provide specialized knowledge and advanced skills in a particular field, allowing your son to deepen his expertise and stay competitive in the job market.

2. Career Opportunities: Many employers value candidates with advanced degrees, and an MS can enhance his chances of landing higher-level positions or advancing his career in the software engineering field.

3. Networking: Studying in the US can provide excellent networking opportunities, allowing your son to connect with industry professionals, potential mentors, and fellow students who may become valuable contacts in the future.

4. Research Opportunities: If your son is interested in pursuing research or academia, an MS degree can serve as a stepping stone towards a Ph.D. program and open doors to research positions or teaching opportunities.

5. Exposure to Diverse Perspectives: Studying in the US exposes students to a culturally diverse environment, which can broaden their horizons, foster global awareness, and provide a rich learning experience.

Cons:
1. Financial Considerations: Pursuing an MS degree in the US can be costly, including tuition fees, living expenses, and potentially higher healthcare expenses. It's important to carefully assess the financial implications and explore scholarships, grants, or assistantships to help mitigate costs.

2. Competitive Admissions: Admission to reputable MS programs can be highly competitive, especially in sought-after fields. Your son will need to prepare a strong application, including competitive test scores, letters of recommendation, and a compelling statement of purpose.

3. Temporary Stay: Pursuing an MS degree usually involves a temporary stay in the US on a student visa. It's essential to be aware of the associated visa requirements, potential limitations on employment, and the need to return to one's home country after completing the degree, unless pursuing further work authorization or education.

4. Personal Adjustments: Moving to a different country for studies can be a significant adjustment, including adapting to a new culture, lifestyle, and potentially being away from family and friends. Your son should be prepared for the challenges of living abroad and maintaining a support network.

For more information, you can visit our website.

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Sushil Sukhwani  |555 Answers  |Ask -

Study Abroad Expert - Answered on Aug 28, 2023

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My son is working as research scholar in IIT but wants to pursue research in US what are the options to do that . He wants stipend fore that kindly guide
Ans: Hello Kavita,

To begin with, thank you for contacting us. Through pursuing research in the US, your son can acquire a fantastic chance to broaden his academic horizons, learn about modern research, and work with subject-matter experts. He could think about the following options:

1. Graduate Studies (Ph.D.): Applying for a Ph.D. program at a university seems to be one of the popular methods to pursue research in the US. Through these programs, students can earn stipends and tuition exemptions in exchange for research and teaching assistantships. Your son can submit an application to the graduate programs at his preferred universities.

2. Fellowships and Grants: For foreign students pursuing research in the US, multiple grants and fellowships are offered. Examples include The NSF Graduate Research Fellowship, Fulbright Program, and several university-specific scholarships. Financial assistance viz., stipends and tuition coverage are offered through these programs.

3. Research Assistantships (RA): Research assistant roles are available in several research initiatives, labs, or departments. In this salaried position, your son will carry out particular research projects under a faculty member’s supervision.

4. Teaching Assistantships (TA): Teaching assistantships are similar to research assistantships, here students help the professors teach undergraduate courses while he is still pursuing his own research. This may also include a stipend and at times, tuition coverage.

5. Working in partnership with Professors: Your son might consider working together on research projects, if he has developed relationships with professors in the US. Getting invited for short research trips or even longer research stays could stem as a result.

6. Postdoctoral Jobs: Your son could think about applying for postdoctoral jobs if he finishes his Ph.D. in India and wishes to further his research in the US. These research positions are temporary enabling him to continue his research under the guidance of experienced researchers.

7. Centers and Institutes for Research: Researchers can enrol as visiting scholars or researchers at a number of US research institutes and centers. These jobs could offer stipends and access to cutting-edge facilities.

8. Academic Workshops and Meetings: Your son can engage with possible colleagues and look into research opportunities by attending conferences and seminars in the US that are pertinent to his academic field.

Your son should inquire about labs, universities and programs that match his research interests, get in touch with teachers/advisors he intends working with, submit a compelling Statement of Purpose, study proposal, and recommendation letters, appear for English language competency tests viz., IELTS or TOEFL as required by universities, and look into scholarships, fellowships, and assistantships that offer international students financial aid.

To make sure he finds the perfect match for his research interests and career prospects, your son should plan well in advance, begin early, and conduct extensive research on each possibility.

For more information, you can visit our website.

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T S Khurana

T S Khurana   |197 Answers  |Ask -

Tax Expert - Answered on Nov 23, 2024

Asked by Anonymous - May 11, 2024Hindi
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Money
Can you please suggest on capital gains as per Indian taxation laws arising in the below two queries : 1) property purchased with joint ownership, me and my wife’s name in 2015 at a cost of 64,80,000, housing improvements done for the cost of 1000000 and brokerages of 200000 paid and sold the same property at 10000000 in Dec 2023? 2) 87% of the proceeds got from the deal i.e 8700000, have been reinvested to pay 25% amount in purchasing another joint ownership property in Dec 2023, 3) I have invested in another under construction property in Nov 2023 by taking housing loan, which is on me and my wife’s name worth 1.4 cr, here the primary applicant is me only while wife is just made a Co applicant in the builder buyer agreement and also on the housing loan . So what are the LTCG tax liabilities arising from the above 3 scenarios for FY 2023-2024 and FY 2024-2025. I intend to sale off the property acquired in (2) by Dec 2024 and use that proceeds to close the housing loan for the property acquired in (3), will this sale of property be inviting any tax liabilities if the complete proceeds received from the sale of the property in (2) would be utilised to close the housing loan taken in Nov 2023 for the property in (3) ? Since in FY 23-24, I would be claiming the LTCG from the sale proceeds of 1) invested in the purchase of property in 2), and I intend to sale off this property in Dec 2024, will the LTCG claim be forfeited on the property sale in (1), should I hold this property at least for further 1 year so that sale of this property in 2) will not invite STCG?
Ans: (A). Let's first talk about F/Y 2023-24 :
You jointly sold a Property during the year for Rs.76.80 lakhs (64.80+10.00+2.00), & sold the same for Rs.100.00 lakhs.
You have jointly also purchased Property No.3 (I suppose it is Residential only), for Rs.140.00 lakhs.
You should avail exemption u/s-54 & file your ITR accordingly. Please disclose all details about sale & purchase in your ITR.
02. Now coming to the F/Y 2024-25 :
You intend to Sell Property No.2, which was acquired in 2023-24. Any Gain on Sale of it would be Short Term capital Gains & taxed accordingly.
Alternatively, you may hold this sale of property no.2 (for 2 years from its purchase) & avoid STCG
You are free to utilize the sale proceeds in a way you like, including paying off your housing Loan.
Please note to avail exemption u/s 54 only from investment in property no.3 & not 2.
Most welcome for any further clarifications. Thanks.

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