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Maxim

Maxim Emmanuel  | Answer  |Ask -

Soft Skills Trainer - Answered on Apr 06, 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
Rohineet Question by Rohineet on Mar 26, 2024Hindi
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Career

My daughter has recently completed her 12 what is scope of bca course

Ans: Excellent.. the sky is the limit, it's the Prima Donna course today!
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R P

R P Yadav  | Answer  |Ask -

HR, Workspace Expert - Answered on Mar 07, 2024

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Career
My daughter aged 21 years wants to build his career as a BCA Data science , what is the scope for him as a career in this field
Ans: Choosing Data Science after completing BCA (Bachelor of Computer Applications) is like embarking on a tech adventure where you learn to analyze information in a super-smart way. With a BCA background, diving into Data Science equips you with cool skills to make sense of big data and make clever decisions in the tech world.

Let’s explore the scope and opportunities for a career in Data Science after BCA:

What is Data Science?
Data Science is a field that uses scientific methods to extract valuable insights from different types of data, whether it’s organized, structured, or not. The goal is to gain important business insights by studying and analyzing large volumes of data, combining techniques from mathematics, statistics, artificial intelligence, and computer engineering. Data Scientists are skilled professionals who work with massive sets of both structured and unstructured data. They process, model, and analyze this data to develop practical plans for businesses and other organizations.

Skills Required for Data Scientist:
Data Visualization
Programming
Data Wrangling
Deep Learning
Machine Learning
Eligibility Criteria for Data Scientist:
Complete 10+2 from a recognized board with a minimum aggregate score of 50% or above.
Main subjects should include Mathematics, Computer Science, or Statistics.
Employment Opportunities:
Data Architect
Data Administrator
Business Intelligence Manager
Data Scientist
Data Analyst
Salary Insights:
Starting Salary: Around INR 5.75 LPA
Average Salary: Approximately INR 11.44 LPA
Highest Salary: Can go up to INR 34 LPA and above
How to Become a Data Scientist After BCA:
Pursue undergraduate degrees in Data Science, Computer Engineering, or another relevant discipline.
Attempt Engineering Entrance Exams to get into top data science colleges in India (e.g., JEE Main, JEE Advanced, GATE).
Consider certification programs to gain relevant skills.
Explore post-graduate degrees such as M.Sc Data Science or M.Tech Data Science.
Learn programming languages like R, Python, and SQL.
Job Sectors for BCA Data Science Graduates:
Healthcare and Pharmaceuticals
Telecommunications Sector
Industry Sector
Energy Sector
Indian Defence Forces
Automotive Industry, and more
Conclusion:
BCA Data Science offers a wide range of job opportunities in the IT sector. Graduates can work as Data Scientists, Machine Learning Engineers, Business Analysts, and more. The demand for data science professionals continues to grow, making it an exciting and rewarding career path!

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Latest Questions
Janak

Janak Patel  |20 Answers  |Ask -

MF, PF Expert - Answered on Mar 11, 2025

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Money
Hello Sir, I am 42 years old IT professional. I have one son of 6 years and in class 1. My wife also works and our combined MF portfolio is of 1.1 cr. We both invest 90k per month in various mutual funds. I have purchased one flat which has 60 lacs of home loan and 58000 emi. I have sold my current flat in 80 lacs. I am in confusion of what to do with this money. Should I part close my home loan, should i invest it in mutual funds or should i go for PMS. I am in no hurry to pre close home loan as I can close the loan in next 6-7 years from our salary and my PPF. My goal is to maximize my returns to create wealth as I want to retire by 50. I have monthly expenses of 75K including my child fees for now. Please suggest. Thank you.
Ans: Hi Shaks,

Your query will resonate with many working professionals.

First and foremost, please check/calculate if you have capital gains arising out of the sale of your current flat. This is important for tax implication and will also help make your decision for utilizing the funds.

Lets assume you have some capital gains from this sale, then you can again have to confirm if the capital gains can be utilized without paying tax on it - this is possible if you have purchased the new flat within the last 1 year. If so, then you can utilize/adjust the capital gains towards payments made for the new flat and save tax on it. If you have purchased the new flat earlier than the last 1 year, then you have 2 options - pay tax on the capital gains and then use the funds as you wish OR invest the capital gains amount in NHAI bonds (locked) for the next 5 years (pay tax only on the interest earned).

Once you have sorted the above, you will know what is the amount in hand to make your decision, so lets dive into it.
You have a loan of 60 Lacs and you can manage the EMI from your salaries. Over the next 6-7 years, your salary will also see an increment of approx 7-8% annually, so I suggest you utilize this excess amount each year to prepay/topup your EMI payments. This will help reduce the loan burden over time. At the time of retirement, your loan outstanding can be paid with available options at that time.
You mentioned PPF as an option - I would suggest you do not utilize PPF amount towards this loan closure. The reason is PPF is a completely tax exempt asset and can be utilized well towards retirement income. Of course depends on how much you have accumulated in PPF.

So lets now consider paying the loan amount with the sale proceeds of the current flat. You have a loan today (assuming interest rate applicable is 8-8.5%), which you can manage and you are keen to continue it till retirement, so also recommend you do so. Keep the sale proceed amount available for investment and wealth creation as there are opportunities that can generate returns at a same rate (conservative options) and higher returns (with a slightly higher risk associated).

As you do not have any major liability which is outstanding or cannot be managed, and also you are investing 90k per month in Mutual funds, you can consider wealth creation options for the sale amount available.
PMS is an option but I feel its risks will out weigh the returns in the time frame you have, unless you have a known and trust-worthy option you want to consider.
As you are looking to retire early, at age 50, you should target to create a corpus that will sustain your retirement life (consider at least 30 years post retirement) and your child's education requirements.
Hence my recommendation would be to invest in Mutual Funds and continue with your PPF until retirement. A well constructed portfolio to create a retirement corpus and your child's education requirements would be required.

You can consult a Certified Financial Planner to help you with this plan. They can guide you with your Investments and Retirement planning and provide options to consider and provide advise on risk management (Insurance requirements).

Thanks & Regards
Janak Patel
Certified Financial Planner.

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