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Dr Dipankar

Dr Dipankar Dutta  |1495 Answers  |Ask -

Tech Careers and Skill Development Expert - Answered on May 09, 2025

Dr Dipankar Dutta is an associate professor in the computer science and engineering department at the University Institute of Technology, the University of Burdwan, West Bengal.
He has 27 years of experience and his interests include AI, data science, machine learning, pattern recognition, deep learning and evolutionary computation.
Aside from his responsibilities at the college, he also delivers lectures and conducts webinars.
Dr Dipankar has published 25 papers in international journals, written book chapters, attended conferences, served as a board observer for WBJEE (West Bengal Joint Entrance Examination) exams and as a counsellor for engineering college admissions in West Bengal. He helps students choose the right college and stream for undergraduate, masters and PhD programmes.
A senior member of the Institute of Electrical and Electronics Engineers (SMIEEE), he holds a bachelor's degree in engineering from the Jalpaiguri Government Engineering College and a an MTech degree in computer technology from Jadavpur University.
He completed his PhD in engineering from IIEST, Shibpur (formerly BE College).... more
Asked by Anonymous - May 09, 2025
Career

Sir, My daughter is studied until 2nd class in Hyderabad and then 3rd to 6th in in USA. Then 7th to 10th in Hyderabad. Then she came to USa for 1 year and stayed over there. Then she studied 11and 12th in Telangana. Is she comes under local area? Does she qualify for 85% quota in MBBS seats in Telangana?

Ans: Your daughter is most likely eligible
Career

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Dr Nagarajan J S K

Dr Nagarajan J S K   |514 Answers  |Ask -

NEET, Medical, Pharmacy Careers - Answered on May 15, 2025

Asked by Anonymous - May 09, 2025
Career
My daughter was born in Andhra Pradesh in 2007 and studied in Hyderabad up to 2nd class. She studied from 3rd class to 6th class in the US and moved back to India and continued from 7th to 10th in Hyderabad again. She passed out of 10th in March 2022. After finishing her 10th, she moved back to the US in September 2022 and studied 10th again due to age constraints in the US before moving back to India in 2023. She finished her 11th and 12th class in Hyderabad and attempted NEET 2025. She has continuous education certificates in Hyderabad from 7th to 12th class but has a year gap between her 10th and 11th class. My questions are does she qualify as a local for the Telangana state for the 85% state quota. As she studied 10th class in the US again but that certification isn't of use anywhere, what is the best option for her to considered under the state quota. Does she require any gap certificate or any official authorization between her 10th and 11th and if so what is the best procedure to get it?
Ans: BE TRANSPARENT AND GUNUINE. DONT TRY TO TAKE SHORTCUTS TO OBTAIN A DOMICILLE CERTIFICATE. THIS CONCERNS YOUR YOUR DAUGHTER'S FUTURE.

Regarding your query about the domicile certificate, she needs to prove that she has been residing in that particular location for the last seven years. However, in your case, she has only been present for six years, as she went to the U.S. in between. If this was on a tourist visa, that might be acceptable, but if you obtained a green card or another type of visa during that time, you should have supporting evidence.

Based on this information, it appears that you may not be eligible for the domicile certificate. It might be better for her to seek admission through the NRI quota. However, never resort to shortcuts. Remember, in today's India, traceability is very easy.
If you are still not convinced by my answer, please consider consulting a notary public for assistance with this issue.

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Nayagam P

Nayagam P P  |5512 Answers  |Ask -

Career Counsellor - Answered on May 28, 2025

Asked by Anonymous - May 27, 2025
Career
Namaste sir, my daughter has secured a rank of 4290 in ts-eamcet. We had been living in Bengaluru up until she finished 10th grade and later on we shifted to Hyderabad, and she has completed her intermediate in Hyderabad (state board). Is she considered as a non-local candidate? What are the best college options?
Ans: Your daughter, with a TS EAMCET rank of 4290 and intermediate education in Hyderabad, most likely qualifies as a local candidate for Telangana admissions. This rank opens opportunities in top engineering colleges in Telangana, especially in Hyderabad. Recommended colleges include JNTUH College of Engineering, Osmania University College of Engineering, Chaitanya Bharathi Institute of Technology (CBIT), Vasavi College of Engineering, MVSR Engineering College, and Gokaraju Rangaraju Institute of Engineering and Technology. These institutions are well-regarded for their academics and placements.

Among these, JNTUH and Osmania University are premier government colleges with strong faculty and infrastructure. CBIT and Vasavi are reputed private colleges with good placement records. Your daughter should check branch-wise cutoffs during counseling to select the best fit. Based on her education in Hyderabad for the last two years, your daughter most likely qualifies as a local candidate for TS-EAMCET. Hope, you would have got her Aadhar Card transferred to her Hyderabad address from Bengaluru. All the best for your daughter's admission and a bright future!

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Ramalingam

Ramalingam Kalirajan  |8611 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 30, 2025

Money
Dear experts, Is CGAS account mandatory to open even if the entire amount realized during selling of a land is reinvested into buying a new residential home before the ITR filing date of the financial year in which the land was sold? Can a normal fixed deposit be done, given that the home will be purchsed before the ITR due date, or the amount kept in the savings account only in which it was originally received? When CGAS account is really needed? And if the land is inherited, is fair market value (FMV) certificate mandatory during tax filing? Warm Regards.
Ans: Capital Gains and CGAS can confuse many. You’ve clearly understood key parts already. That’s a good start. Let’s look into the entire situation, part by part.

We will explore the rules, your options, and how to avoid mistakes. This will give you a complete 360-degree clarity from tax, legal and compliance angles.

 
 
1. When Capital Gains Account Scheme (CGAS) Becomes Mandatory

CGAS is not needed in all cases.
 
 

You must deposit in CGAS only if home purchase is delayed.
 
 

If you reinvest before ITR due date, CGAS is not compulsory.
 
 

You can reinvest directly in the new house.
 
 

Keep proofs of payments, builder receipts and registry.
 
 

This is allowed even if amount is not kept in CGAS.
 
 

Fixed Deposit or savings account is fine in such case.
 
 

But all reinvestment should happen before the ITR due date.
 
 

If even part of it remains, then CGAS is mandatory for balance.
 
 

So, CGAS is only a backup rule, not the first step.
 
 
2. Can Fixed Deposit or Savings Account Be Used Instead?

Yes, if you use the full sale amount in time.
 
 

There is no restriction to keep the sale money in a bank FD.
 
 

Even savings account can be used till reinvestment.
 
 

But do not mix that account with other funds.
 
 

It should be clearly seen that the money was from land sale.
 
 

Keep trail of cheque/RTGS and amount received in bank.
 
 

Use the same account for property payment preferably.
 
 

Attach documents to your tax file as proof of usage.
 
 

So, a separate CGAS account is not required if home is bought on time.
 
 
3. Real Timing for CGAS Requirement

Let’s say land is sold in FY 2024–25.
 
 

ITR filing due date is 31st July 2025 (for most individuals).
 
 

If you do not reinvest before 31st July 2025, then CGAS is needed.
 
 

You must deposit remaining capital gains before that date.
 
 

Otherwise, the capital gain becomes taxable.
 
 

After that, you can buy the home within two years.
 
 

Or construct the home within three years.
 
 

But tax exemption applies only if CGAS rules are followed.
 
 

So, CGAS gives you extra time, but with some process to follow.
 
 
4. What Happens If You Don’t Open CGAS?

If no reinvestment is done and no CGAS is opened,
 
 

Then you lose the exemption under the capital gains rules.
 
 

The gain will be treated as long-term capital gain.
 
 

You will need to pay tax on it.
 
 

Keeping money in FD or savings account won’t save tax after deadline.
 
 

Tax will be calculated as per rules and payable with interest.
 
 

So, if you're not ready to reinvest, then open CGAS on time.
 
 
5. For Inherited Land – Is Fair Market Value (FMV) Mandatory?

Yes, FMV is required for inherited property.
 
 

FMV as on 1st April 2001 must be calculated.
 
 

This becomes your cost of acquisition.
 
 

Without FMV, your gain will look artificially high.
 
 

That will lead to more tax than needed.
 
 

FMV must be from a registered valuer.
 
 

Use this valuation during capital gain working.
 
 

Keep valuation certificate with your documents.
 
 

It is not submitted with return, but can be asked later.
 
 

So yes, FMV certificate is very important in your case.
 
 
6. Points to Remember for Reinvestment and Tax Filing

Always try to reinvest before the ITR filing due date.
 
 

Keep documents ready – sale deed, purchase deed, payment proof.
 
 

Mention exemption under the correct capital gains section in ITR.
 
 

File ITR with details of both sale and new purchase.
 
 

If any delay is there, deposit in CGAS before 31st July.
 
 

Open CGAS with a scheduled bank only.
 
 

Withdraw money from CGAS only for house purchase or construction.
 
 

Do not withdraw for other purposes. That makes it taxable.
 
 

Proper filing avoids notices and problems later.
 
 
7. Should You Do CGAS Deposit Early Just in Case?

If you're unsure about home purchase date, CGAS is a safe backup.
 
 

You can withdraw later for the purchase purpose.
 
 

But if you're confident about timing, no need to open CGAS.
 
 

Avoid unnecessary paperwork if not required.
 
 

So, CGAS is useful, but not needed if timing is right.
 
 
8. Role of a Certified Financial Planner in Such Cases

Tax planning around property needs correct steps.
 
 

A Certified Financial Planner helps track timelines and rules.
 
 

You get full support for investment, taxation, compliance and reinvestment.
 
 

A CFP can also coordinate with CA or legal expert.
 
 

They also help with ITR and property documentation.
 
 

It removes the guesswork and avoids last-minute issues.
 
 

Guided help gives better peace of mind.
 
 
Finally

You are handling a serious matter with clarity and awareness. That’s a strong foundation. You do not need to open a CGAS account if the home is fully bought before the ITR due date. You can keep money in your savings account or fixed deposit during this time. Just make sure the home is purchased and payment is completed before the filing date.

If not, deposit balance gains in CGAS to save tax. FMV is also required for inherited land. Get a certified valuer’s report. Use this in capital gain computation. This avoids tax mistakes.

Stick to timelines. Keep clear records. Plan your reinvestment wisely. Work with a Certified Financial Planner if needed for execution and follow-through.

 
 

Best Regards,
 
K. Ramalingam, MBA, CFP
 
Chief Financial Planner,
 
www.holisticinvestment.in
 
https://www.youtube.com/@HolisticInvestment

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Mayank

Mayank Chandel  |2420 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 30, 2025

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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