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R P Yadav  | Answer  |Ask -

HR, Workspace Expert - Answered on Mar 22, 2024

R P Yadav is the founder, chairman and managing director of Genius Consultants Limited, a 30-year-old human resources solutions company.
Over the years, he has been the recipient of numerous awards including the Lifetime Achievement Award from World HR Congress and HR Person Of The Year from Public Relations Council of India.
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Asked by Anonymous - Mar 21, 2024Hindi
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Career

Hi experts, My son is 24 years perusing this MSc in Physics from IIT and will be completing his masters in 2024 May, he is Mechanical Engineer as well. What are the job opportunities for him in India ?? Kindly assist on this please.

Ans: Your son has a strong educational background with a Mechanical Engineering degree and an upcoming MSc in Physics from IIT. This combination opens up a wide range of job opportunities in both the public and private sectors. Here are some potential job roles and sectors he might consider:

Job Roles:

Research Analyst: Conduct research on physical phenomena, create theories and develop methods on how to apply physical laws and theories.
Observation Scientist: Collect and record data, which enables them to construct and then test hypotheses and theories.
Assistant Scientist: Provide support to the scientist in research and educational subject.
Physics Training Manager: Evaluate employees and identify weaknesses. They research, plan and implement training programs that will prepare employees for the next step of their careers.
Software Engineer: Physics helps with logical thinking, debugging issues, solving complex problems, and working with physics-related applications.
Sectors:

Healthcare: MSc Physics graduates have ample opportunities in sectors like healthcare.
Manufacturing and Electronics Companies: These companies often require individuals with a strong understanding of physics.
Academic Institutions: Both public and private academic institutions often have positions for individuals with a background in physics.
Research Laboratories: These can be in the public or private sector.
Atomic and Space Organizations: Organizations like BARC, ISRO often recruit individuals with a strong background in physics.
Telecommunication Sectors: The principles of physics are often used in this sector.
Remember, the salary can vary based on the role and the organization. A campus placement could get students approximately 9-10 LPA and can increase up to 30 LPA based on the experience gained. In the government sector, salaries range from INR 5,00,000 to INR 7,00,000 per annum.

I would recommend your son to start exploring these opportunities and see which ones align with his interests and career goals. Good luck!
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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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