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Mayank

Mayank Kumar  | Answer  |Ask -

Education Expert - Answered on Jun 09, 2023

Mayank Kumar is the co-founder and managing director of upGrad, a higher EdTech company. With over 10 years of experience in the education sector, Kumar can offer guidance about degree courses, campus, job-linked and executive programmes and studying abroad.An MBA graduate from ISB Hyderabad, he holds a BTech in mechanical engineering from IIT Delhi.... more
Sisir Question by Sisir on Jun 08, 2023Hindi
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Career

my daughter is now doing Master on Applied Microbiology from VIT,Vellore,will she go for campassing(which field will have bright future) or try for higher education,she is interested for doing Master on Forensic Science will it be a good future for a job

Ans: She can explore opportunities in research, biotech, pharmaceuticals, healthcare, and more. Higher education in Forensic Science can lead to diverse career paths in forensic labs, law enforcement agencies, and private firms. Both fields offer promising futures; she should choose based on her passion and long-term goals.
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Sushil

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Study Abroad Expert - Answered on May 17, 2023

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my daughter is doing MSc(last year) in Applied Microbiology from VIT,Vellore ,i am asking her to go for Higher Study but she is not interested,she wants to do job,please guide us
Ans: Hello Sisir,

First and foremost, thank you for getting in touch with us. It makes sense that you want the best for your daughter and want her to continue her education in Applied Microbiology. Making this choice, though, also requires taking into account your daughter's interests and inclinations. It's unlikely that she will be driven to put in the effort and attention necessary to excel in the program if she is not interested in pursuing further education.

It's crucial to talk openly and honestly with your daughter about her ambitions and desires for her career. Find out what she likes to do and what kind of workplace she prefers. You might look into several career opportunities in Applied Microbiology and associated sectors if she's interested in finding employment. With an MSc in Applied Microbiology, one can find employment in varied fields, such as regulatory affairs, production, quality control, and research & development.

Attending professional fairs, conferences, and seminars will help your daughter start networking and establishing contacts in the field. To add to her résumé and acquire professional experience, she may also want to look into internships or part-time positions.

In the end, your daughter's hobbies, goals, and career aspirations should guide the decision about whether to seek further education or a job. While you may support and guide your daughter as a parent, it's also crucial to accept her choices and give her the freedom to do so.

For more information, you can visit our website.

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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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