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R P Yadav  | Answer  |Ask -

HR, Workspace Expert - Answered on Oct 30, 2023

R P Yadav is the founder, chairman and managing director of Genius Consultants Limited, a 30-year-old human resources solutions company.
Over the years, he has been the recipient of numerous awards including the Lifetime Achievement Award from World HR Congress and HR Person Of The Year from Public Relations Council of India.
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Utkarsh Question by Utkarsh on Oct 29, 2023Hindi
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Career

My age 25, I have prepared for SSC cgl exam, but not cleared yet, graduation is so Bachelor of arts, financial condition is not good, living in stress, want to start skill based career, and turn it into a business, already lost 1.5 lakhs in trading...no job opportunities...what to do

Ans: Dear Utkarsh,
It is not advisable to start a business at the age of 25 as you do not have the relevant experience. I would suggest to get into a good job and gain some experience of at least 5-10 years before you can venture into a business of your expertise.
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CAT, Management Expert - Answered on May 30, 2024

Asked by Anonymous - May 27, 2024Hindi
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I am 35 year old and holding 5+ years of experience in various domains after completing Deploma in Mech Engg QA-1year(automobile industry 2011-12). 2012-2018-- Degree in Mechanical Engg. Meanwhile due to financial issues I had work with 2/3 companies for short time of period and left because of Exams, whatever work like service engineer and Quality related work I attended. After completing my Graduation in Mechanical Engg I rejoin small firm which was dealer and distribution industry for metal cutting tools. due to convid these company was shutdown and then 2021 I switched to BPO industry and now from April 2023 to till date I am working in Supply chain Management in Infosys as a Sr Executive now could you please advise what should I do because it's really challenging to adapt new skills with less salary I am unable to take risk of new learning. And also facing money problems as now I have to run entire family shall I have to start any business or what should I do to save and retrack my career?
Ans: Why don't you want to continue in SCM?

In my opinion, you should continue to develop your expertise in supply chain management. Given your current role at Infosys, aim to gain more responsibilities and prove your value within the organization. You may also consider obtaining supply chain management certifications like APICS (now ASCM), Certified Supply Chain Professional (CSCP), or Six Sigma. These can increase your marketability and potential for promotions or salary increases.

Stay updated with industry trends and continue learning to adapt to changing market demands.

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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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