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Maxim

Maxim Emmanuel  |391 Answers  |Ask -

Soft Skills Trainer - Answered on Mar 21, 2024

Maxim Emmanuel is the marketing director of Maxwill Zeus Expositions.
An alumnus of the Xavier Institute of Management and Research, Mumbai, Maxim has over 30 years of experience in training young professionals and corporate organisations on how to improve soft skills and build interpersonal relationships through effective communication.
He also works with students and job aspirants offering career guidance, preparing them for job interviews and group discussions and teaching them how to make effective presentations.... more
Asked by Anonymous - Mar 11, 2024Hindi
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Career

Hi I am in banking sector for more than 15 yrs in frontend. Now I want to change from banking to some other sector . Is it possible. Can I do with some online courses?

Ans: Banking to?

It's important to understand compatibility, just doing courses won't get you another job!
Then how do you utilise 15 year's front end banking experience..

Contemplate.. What's making you change.. You have the answers..!

On the flip side if you have good communication skills consider Sales (Automotive,Hospitality ..) as an alternative career!
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Nayagam P

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Career Counsellor - Answered on Oct 21, 2024

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HELLO, I am working in old generation pvt sector Bank for the last 15 years and presently posted as Branch Manager in a metro branch. I am a math graduate and my age is 40+. I am completed JAIIB AND CAIIB. I want to switch from Banking to other sector. Please guide
Ans: Raj Sir, Please stay with the bank and don't quit until you find employment outside of the banking industry. Depending on your interests, aptitude, attitude, & personality traits and the job market trends, you will need to choose amongst alternative career options. Additionally, if you choose to transition to a different field, you need to be knowledgeable about that field and/or gain the skills and expertise that nearly all employers and recruiters require. Make a shortlist of your interests, set up job notifications on LinkedIn to learn about open positions, and continue to improve your skills through both online and offline channels. You must, however, consider the essential and noteworthy qualities or benefits that you will gain by taking these courses, such as: (a) the course's relevance; (b) accreditation and recognition; (c) the instructors' expertise; (d) the course's content and curriculum; (e) the learning format and flexibility; (f) the duration and commitment; (g) the fee structure; (h) the certifying authority and credibility; (i) evaluations and endorsements; (j) post-certification assistance/career services; (k) the evaluation and certification process; and (l) the technological framework used. All the BEST for Your Prosperous Future.

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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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