Confused about Engineering College Choices: COBS at Thapar Patiala vs. COE at Thapar Patiala & CSE at SCALER Bangalore

Ans: Hello,

To begin with, thank you for contacting us. I am happy to hear that your daughter is presently studying in the final year of her undergraduate degree at St. Josephs College of Commerce after which she intends pursuing a postgraduate course in Media Communication particularly in the UK. You would be glad to know that there are several prominent universities in the UK that offer postgraduate courses in Media Communication. Your daughter can consider applying to University of Leeds, which provides a vast array of media-related courses, and London School of Economics and Political Science (LSE) which is renowned for the Media and Communications program it offers. She can also think about applying to Goldsmiths, University of London, which is well-known for creative and cultural studies. Besides the ones mentioned above, your daughter can also consider applying to Cardiff University which is renowned for journalism and media studies, and University of Westminster which offers robust media programs. Bear in mind that each of these universities are internationally acclaimed, have outstanding linkages with industry, and offer a dynamic global student body.

For more information, you can visit our website: www.edwiseinternational.com

You can also follow us on our Instagram page: edwiseint

Ans: 01. Please find your father's tax details from Income Tax site (AIS, TIS & Form 26AS). Add the details which you have from his bank accounts & other relevent documents available with the family.
Compute his Income Tax liability & pay tax on his behalf.
This will clear your tax liability.
You also need to file his ITR, as a representative assessee. However, this may require certain formalities, if you can complete. Otherwise, wait for the registered will & then proceed.
02. You can get a copy of Registered WILL of your father, from the Registrar's Office, where it was Registered. You can then proceed further to process/settle your other issues.
Most welcome for any further clarifications. Thanks.

Ans: Dear Anonymous,
This entire thing is about sex. Kindly don't mislead her any longer... End this and please find someone else who is not married and vulnerable. This is not all about you and your physical needs. This is also about who you are with and what situation of life they are in. A little thought beyond just you and your needs can help.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Ans: Any material supplied to Un-Registered Dealer (in this case School), is liable to pay GST, which you add in your Bill/Invoice.
Your bill should be with GST as applicable. School is obliged to pay you inclusive of GST.
School is not under the ambit of GST means, any supplies from school to the children is not subject to GST.
How to adjust your profit is your internal matter & has noting to do with GST.
Most welcome for any further clarifications. Thanks.

Ans: Gift from Uncle in blood relations, is not subject to Income Tax.
Most welcome for any further clarifications. Thanks.

Ans: Hi Saket,

Your portfolio is a mix of investments across MFs, PMS and PPF.
Assuming PMS is all equity, the asset allocation reflects approximately an 80:20 ratio in Equity:Debt respectively, which seems fine.
As your objectives or goals are not available, it would be difficult to indicate if they suit your profile.

Most of the MF schemes mentioned are fine with a good track record. The exception is the Business Cycle scheme - this is a new scheme and being sectoral it will attract very high risk, its approximately 10% of your portfolio value so continue if you understand the risk.
Alternately you can consider a Flexi-cap or Multi-cap MF scheme that are well diversified and for a 7+ years of time horizon.

PMS services - if your experience with the PMS services are good and they meet your expectations for returns, then do continue.

PPF - plan to utilize it as a tax efficient instrument to withdraw funds at the time of retirement. Continue to contribute max possible and complete lock-in period of 15 years and keep extending the account with contributions. Over the next 10-15 years you can accumulate a good corpus which will be completely tax free for withdrawal.

An observation/suggestion as its not indicated - As you are freelancer, suggest emergency funds - please plan to have at least 6-9 months expenses in an investment which has high liquidity and safety e.g. FDs. In extreme eventualities like the pandemic or a personal crisis, this fund can support the immediate needs.

As you are going to be moving towards your retirement in a decade or so, I recommend you contact a Certified Financial Planner who can add value to your portfolio and provide a personalized evaluation and guidance taking into consideration your family profile, goals and requirement of the future while assessing risk and tax efficiency.

Regards
Janak Patel
Certified Financial Planner.

Ans: Hello Sheeba,

First and foremost, thank you for getting in touch with us. I am glad to know that your daughter is currently pursuing her MS in Digital Marketing from Northeastern University. To answer your question first, I would like to tell you that Northeastern University is renowned for its hands-on learning approach, which entails Co-Op programs as well as collaborations with industry that enable students to acquire real-world experience. The MS in Digital Marketing program at Northeastern University is in line with contemporary market requirements, providing pertinent coursework as well as chances to work on practical initiatives. Although no university can promise employment, I would like to let you know that Northeastern University's robust network, location in Boston (a technology and business centre), and emphasis on practical learning enhance graduates’ chances of locating rewarding prospects in the digital marketing industry following graduation to a great extent.

For more information, you can visit our website: www.edwiseinternational.com

You can also follow us on our Instagram page: edwiseint

Ans: Dear Anonymous,
I am sorry, i absolutely do not understand what problem you are facing?
- finished condition is not strong?
- major issue with your wife is?
- no proper support from family in what situation?

Only when you can share these details, will I be able to make a suggestion to guide your further.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Ans: Hi Neeta / Raghav,

At the high level the below should help you.

1. Cost of acquisition can include the purchase price and the cost of improvement, so the upkeep expenses to maintain the property cannot be consider, but if you made any form of addition/alterations to the property then you can include it.
The interest paid on loan is eligible for tax benefits, it cannot be included in the cost of acquisition.

2. Old Rule - using the CII for calculations indicate Capital gains of Rs130 lacs, the capital gains tax (20% on difference after indexation) works out to be approximately Rs26 lacs. Note exact dates of purchase/sale will determine the CII values to be used, assumed FY2002-3 and FY2024-25 for now.
New Rule (2024 budget) - Capital gains = difference of sale and cost price i.e. Rs179 lacs, tax of 12.5% on it is approximately Rs22 lacs.

Note - you can add/reduce the cost/sale price with expense incurred in transacting the property e.g. brokerage.

Options to save tax on the Capital gains amount
1. Reinvest in another residential property within 1 year prior and 2 years after sale date or construct within 3 years after sale date.
2. Invest in NHAI bonds - has lock-in period and the interest earned is taxable.

Please contact a CFP or a Tax consultant for further guidance.

Regards
Janak Patel
Certified Financial Planner.