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R P Yadav  | Answer  |Ask -

HR, Workspace Expert - Answered on Feb 01, 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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Jose Question by Jose on Dec 06, 2023Hindi
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Career

Need live project which is an industry internship for 4 -5 months starting from Jan'24 anywhere in India or abroad for my daughter in the field of Finance & data Analytics preferably in banking sector.

Ans: I understand that you are looking for an industry internship for your daughter in the field of Finance & Data Analytics, preferably in the banking sector. Here are some options that you can consider:

Tata Global Internships: Tata Global Internships is a program that offers a holistic work experience of 6 to 12 weeks at the Tata group, an industry leader with a conscience. The program is open to students of all nationalities who are currently pursuing a college or university degree outside India at any level of study — in any discipline, and at any stage of the course. The program offers customized projects, where one size does not fit all. You can work on group or individual projects, as part of a co-op, course, or ‘capstone’, and at various times of the year. The application dates for the internship program are open from 11 September 2023 to 15 January 2024.

Goldman Sachs Summer Analyst Program: Goldman Sachs offers a summer analyst program for students who are interested in exploring the world of finance. The program is designed to give students a sense of what it’s like to work at Goldman Sachs and to help them develop their skills in finance and data analytics. The program is open to students who are currently enrolled in a college or university program and who are graduating between December 2024 and June 2025. The application deadline for the program is not yet announced, but you can check their website for updates.

World Bank Internship Program: The World Bank offers internships to highly motivated individuals to improve their skills while working in a diverse environment. The applicants should have completed their graduation and be enrolled in a master’s program. The applicant should be a student in agriculture, economics, human development, private sector development, social science, environment, or finance. The deadline for the internship program is from January 2nd, 2024 to January 31st, 2024. The recipients are paid on an hourly basis, and USD 3000 is also provided to cover travel expenses.

I hope this information helps you. Good luck!
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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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