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Chocko

Chocko Valliappa  |452 Answers  |Ask -

Tech Entrepreneur, Educationist - Answered on Feb 28, 2024

Chocko Valliappa is the founder and CEO of Vee Technologies, a global IT services company; HireMee, a talent assessment and talent management start-up; and vice chairman of The Sona Group of education institutions.
A fourth-generation entrepreneur, Valliappa is a member of Confederation of Indian Industry, Nasscom, Entrepreneurs Organization and Young Presidents’ Organization.
He was honoured by the YPO with their Global Social Impact award in 2018.
An alumnus of Christ College, Bangalore, Valliappa holds a degree in textile technology and management from the South India Textile Research Association. His advanced research in the Czech Republic led to the creation of innovative polyester spinning machinery.... more
Boobalan Question by Boobalan on Jan 18, 2024Hindi
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Career

My son is doing B.tech bio engineering in VIT let me know about the course scope in further

Ans: As your son would know bioengineers operate at the intersection of the human body and technology and play a crucial role in developing different medical devices and equipment, including prosthesis, wheelchairs, artificial organs, and nicotine patches.
The rapidly expanding field offers careers in pharma, life sciences, sports and research bodiesor medical devices makers with a focus on how these products interact/aid the human body.
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Leadership, HR Expert - Answered on May 23, 2024

Asked by Anonymous - Apr 28, 2024Hindi
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My Son is persuing B.Tech.& M.tech Dual degree course on Biotechnology. Where is the scope in this industry & how? Have any scope in Out of India?
Ans: Your son’s pursuit of a dual degree in B.Tech. and M.Tech. in biotechnology is a great choice, with a wide range of career opportunities both in India and internationally. Biotechnology is a rapidly growing field that integrates biology with technology to develop products and technologies that improve the quality of life. Here's an overview of the scope of this industry and potential career paths, both in India and abroad, where he can work in the research and development of new drugs and vaccines, conducting clinical trials and research to ensure the safety and efficacy of new drugs, and developing diagnostic tools and techniques for early detection of diseases. He can develop genetically modified crops, biofertilizers, and biopesticides to improve agricultural productivity and work on waste management, pollution control, and developing sustainable technologies. He can conduct research in universities and research institutes and work in organizations like CSIR, ICMR, and DBT. Biotechnology offers a wealth of opportunities across various sectors. The industry is expanding rapidly, and there is a high demand for skilled professionals. Encouraging your son to gain practical experience, develop a strong network, and continuously update his skills will be crucial for his success in this dynamic field. Both in India and internationally, biotechnology professionals are making significant contributions to healthcare, agriculture, and sustainable development. With his dual degree, he will be well-prepared to take advantage of these opportunities.

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T S Khurana

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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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