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Abhishek

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HR Expert - Answered on Jul 06, 2023

Abhishek Shah is an experienced tech and HR leader. He has over 10 years of experience in helping create sustainable thriving businesses, leveraging technology and mentoring people. He founded Testlify, a talent assessment platform in 2022. He is passionate about helping founders build high-performing tech teams. ... more
Asked by Anonymous - Jul 05, 2023Hindi
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Career

I am a Chartered Accountant with 10 years of experience in Financial control domain. Currently in the mid to senior level role in the current organisation. My aspiration is to be the CFO of a mid to large company and finally lead the business at the CEO. To make the next move I wish to do a PGPPRO with ISB. It’s an EMBA with physical session which will help me have the brand, Alumni status and open the doors for strategy and M&A kind of consulting. But they don’t have any job assistance or placement programs. The cost of the same is 36 lakhs. Need guidance whether this is worth considering that I always wanted to do an MBA after by CA but couldn’t do it due financial limitations.

Ans: Hello,

I can understand your career aspirations and the dilemma you're facing regarding further education to advance your career. Pursuing an EMBA, such as the PGPPRO program at ISB, can indeed provide you with valuable knowledge and skills that are relevant to your goal of becoming a CFO and eventually leading a company as a CEO.

The program's physical sessions can offer you a networking opportunity, brand recognition, and an alumni status that can potentially open doors for strategic roles and M&A consulting engagements. However, it's important to consider certain factors before making a decision.

Firstly, since the program doesn't provide job assistance or placement programs, you'll need to rely on your existing network and professional experience to leverage the benefits of the program. It's crucial to evaluate whether you have the necessary connections and opportunities to capitalize on the program's advantages.

Secondly, the cost of the program, at 36 lakhs, is a significant investment. You should carefully assess your financial situation and consider whether the potential benefits and opportunities outweigh the financial burden. It may be helpful to research alternative options, such as other reputable EMBA programs with similar objectives, which may have a more favorable cost structure or provide job assistance.

Lastly, reflect on your long-term career goals and whether obtaining an EMBA aligns with your overall plan. Consider if the knowledge and skills gained from the program will substantially enhance your prospects for attaining the CFO and CEO roles you aspire to, or if there are alternative paths to achieve these goals.

It would be wise to consult with professionals who have pursued similar paths, such as experienced CFOs or executives, to gain their insights and perspectives. They can provide valuable guidance based on their own experiences and help you make an informed decision.

Overall, while the PGPPRO program at ISB can potentially provide you with valuable benefits and opportunities, it's essential to carefully weigh the cost, the lack of job assistance, and the alignment with your long-term career goals before making a final decision.

Regards,
Abhishek Shah
Career

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Tax Expert - Answered on Nov 23, 2024

Asked by Anonymous - May 11, 2024Hindi
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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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