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Can My Son With a BTech, MBA, and 5 Years of Experience in Steel Earn More Than 8 LPA?

Patrick

Patrick Dsouza  |862 Answers  |Ask -

CAT, XAT, CMAT, CET Expert - Answered on Jul 23, 2024

Patrick Dsouza is the founder of Patrick100.
Along with his wife, Rochelle, he trains students for competitive management entrance exams such as the Common Admission Test, the Xavier Aptitude Test, Common Management Admission Test and the Common Entrance Test.
They also train students for group discussions and interviews.
Patrick has scored in the 100 percentile six times in CAT. He achieved the first rank in XAT twice, in CET thrice and once in the Narsee Monjee Management Aptitude Test.
Apart from coaching students for MBA exams, Patrick and Rochelle have trained aspirants from the IIMs, the Jamnalal Bajaj Institute of Management Studies and the S P Jain Institute of Management Studies and Research for campus placements.
Patrick has been a panellist on the group discussion and panel interview rounds for some of the top management colleges in Mumbai.
He has graduated in mechanical engineering from the Motilal Nehru National Institute of Technology, Allahabad. He has completed his masters in management from the Jamnalal Bajaj Institute of Management Studies, Mumbai.... more
Chandra Question by Chandra on Jul 21, 2024Hindi
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Career

My son btech MBA and 5 years experience steel getting 8 LPA what to do?

Ans: Depends on what he wants to do. He can either upskill himself by doing short courses or can go for 2nd MBA - Executive MBA (1 year) from a reputed B school in India or aborad.
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Hi, my son complete B E Civil, try to get job , ehat he do
Ans: Dear Mohammed,
I can understand that you are looking for job opportunities for your son who has completed his B.E. in Civil Engineering. There are many career options available for civil engineering graduates. Some of the popular career options include:
Surveyor: Surveyors conduct land and site reviews to measure land features based on various reference points, such as depth and shape. They examine data from previous land records to verify the current on-site surveys and present their findings to the designated authorities. The national average salary for this position is ?14,828 per month.
CAD Technician: Computer-aided design (CAD) technicians develop electronic design plans for buildings and machinery using CAD software. They cooperate with building architects and professional designers to convert blueprints and technical drawings into 2D and 3D computer models. The national average salary for this position is ?15,910 per month.
Structural Engineer: Structural engineers design and build buildings, bridges, and other commercial and private structures. They also measure loads and presses to ensure that the buildings’ formation and structure are secure and choose durable materials. The national average salary for this position is ?21,641 per month.
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These are just a few examples of the many career paths available to civil engineering graduates. Your son can also consider working in the government sector, where there are many job opportunities for civil engineers. Some of the government organizations that offer jobs for civil engineers include Municipal Corporations, Jal Boards, Delhi Development Authority, New Delhi Municipal Corporation, Metro Rail, National Highway Authority of India, Indian Oil Corporation, Delhi State Industrial Development Corporation, Public Works Department, Central Public Works Department, Border Roads Organization, Military Engineering Services, Airport Authority of India, Indian Air Force, Railways, Irrigation & Flood control department, Public Health Engineering department, National Hydro-electric Power Corporation, National Thermal Power Corporation, Oil and Natural Gas Corporation Limited, Defense Research and Development Organization, RITES, DRDO, Pollution Control Boards, Building and Construction department of organizations and many more.

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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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