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Is a BS in Applied Geology from IIT Kharagpur Secure for My Son's Future?

Nayagam P

Nayagam P P  |3916 Answers  |Ask -

Career Counsellor - Answered on Jul 18, 2024

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Manish Question by Manish on Jul 17, 2024Hindi
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Sir my son got IIT Kharagpur BS in applied Geology, what is the future of this branch

Ans: Manish Sir, it is good with placement records also. But if your son also has an interest in RESEARCH in this field either in India or Abroad, it is more recommended. If you have no other option, can go for this. No issue Sir. All the BEST for Your Son's Bright Future.

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Radheshyam

Radheshyam Zanwar  |1059 Answers  |Ask -

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 21, 2024

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Hlo sir, My son cracked JEE Advance and took admission in IIT Kharagpur BS course Applied Geology and Geophysics. I am not well versed about the branch. Kindly suggest the placement scope and career scope of the branch.
Ans: Hello Munni.
Congratulations to you and your son for getting admission to the prestigious IIT Kharagpur. The branch he got is very good from an upcoming development point of view. There is a wide and wide scope in Applied Geology. The placement is available worldwide. The job opportunities are available in the energy Sector, Environmental Consulting, Government Jobs (Geological Survey of India (GSI), Central Ground Water Board, Indian Space Research Organisation (ISRO), Research and Academia, and lot more sectors.
The future is bright, especially in fields like sustainable resource exploration, climate change studies, and environmental conservation, as global demand for geophysicists continues to grow across industries like renewable energy and natural resource management.
To be more specific, a geologist has a huge demand in the water resource sector. The big tunnels, dams, roads, lakes, bridges, railway tracks, and National Highways can't be built without the help of a geologist. Remedies for landslides can be suggested by a geologist only. The oil exploration can not be imagined without the help of a geologist.
Don't worry, you and your son will be more happy in the future as compared to any tech engineer. You will remember me after a few years for the excellent guidance given to you. Last but not least, I suggest many students to take admission to this branch. But very few of them try/dare to change the traditional path.

If you are dissatisfied with the reply, please ask again without hesitation.
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Thanks.

Radheshyam

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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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