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Chocko

Chocko Valliappa  |452 Answers  |Ask -

Tech Entrepreneur, Educationist - Answered on May 13, 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
Joydeep Question by Joydeep on Mar 26, 2024Hindi
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Career

I am mechanical engineer passed out in the year 2012. Working in a foundry but want to shift from this industry because of its no growth toxic environment. It's the lack of opportunity for what i am working with foundry in reality i totally dislike foundry. What to do? How can i switch to different industry such as automotive, manufacturing, machine assembly etc. ? Please suggest..

Ans: Look for companies and work that inspires you, use your network of friends, relatives, or even Linkedin in the sectors you are keen to work in, upskill your knowledge to be able to take on inspiring roles, make a plan and success will be yours. The key is to not to rush but to continue to put your heart in your current even while looking a job
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Shekhar

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Leadership, HR Expert - Answered on Apr 26, 2024

Asked by Anonymous - Apr 19, 2024Hindi
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Dear sir my age is 28 year now I complete my btech degree in mechanical engineering...just now I also worked in a private factory as a production engineer in roto moulding department..but this field not to much available in other areas ..so what should I do .?
Ans: Given your background in mechanical engineering and your experience as a production engineer in the roto molding department, you have a solid foundation that can lead to various career opportunities in plastics manufacturing, injection molding, packaging, or consumer goods production, design engineering, quality assurance, maintenance, or project management. If you have a passion for innovation and entrepreneurship, consider starting your own business in the manufacturing or engineering sectors. You could use your expertise to develop new products, improve existing processes, or provide consulting services to other businesses. Conduct market research to identify potential opportunities and create a business plan to outline your goals and strategies. Take advantage of online resources, workshops, and training programs to develop new skills and stay updated with the latest trends and technologies in mechanical engineering. This could include learning programming languages, gaining proficiency in software tools, or acquiring knowledge in emerging fields like additive manufacturing or sustainable engineering. Utilize your professional network, including colleagues, classmates, and industry contacts, to explore job opportunities and gather insights about different career paths. Attend industry events, job fairs, and networking seminars to expand your connections and learn about potential openings in your field.

Remember to assess your interests, strengths, and long-term career goals before making any decisions. Take the time to research and explore these different options as well. With your background in mechanical engineering and your experience in production engineering, you have valuable skills that can open doors to a wide range of exciting opportunities. Best of luck.

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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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