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Career Coach  |49 Answers  |Ask -

Workplace Expert - Answered on Feb 19, 2024

Career Coach is a recruitment expert with experience in hiring, training, upskilling and leadership management. ... more
Asked by Anonymous - Feb 19, 2024Hindi
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I was offered a salary of 4 LPA in the second week of February. I accepted the job offer immediately. One week later, I have received a better offer from a different company in a new city. I am confused now. What should I do? I am 22, a commerce graduate from Mumbai.

Ans: It's understandable to be confused in this situation! Receiving a better offer after already accepting one can be tricky, but ultimately the decision should come down to what aligns best with your career goals and personal preferences. Here are some steps to help you navigate:

Consider the New Offer:

- Compensation: How much better is the new offer in terms of salary, benefits, and bonuses?
- Company and Role: Research the new company and its reputation. Does the role align with your career aspirations and interests?
- Location: Are you open to relocating to a new city? Research the cost of living and potential lifestyle changes.
- Growth Opportunities: What are the career advancement opportunities at both companies?

Review the Existing Offer:

- Contract: Do you have a signed contract with the first company? Breaking it might have legal or reputational consequences.
- Relationships: How invested are you in the initial company and team? Leaving suddenly could burn bridges.

Weighing the Options:

- List Pros and Cons: Create a list of pros and cons for each offer, considering both professional and personal factors.
- Seek Advice: Talk to trusted mentors, friends, or family for their perspectives.
- Prioritize: What are your main priorities in a job? Salary, growth, location, company culture?

Making the Decision:

- Honesty is Key: If you choose the new offer, be honest and apologetic to the first company. Explain your situation clearly and professionally.
- Timing is Important: Act quickly! The sooner you inform the first company, the better.
- Burn Bridges Wisely: Maintain cordial communication with the first company, emphasizing your regret and appreciation for their time.

Remember:

- You are not obligated to stay with the first offer because you accepted it quickly. Your career needs can evolve.
- Prioritize your long-term goals and values when making this decision.
- Be professional and respectful throughout the process.

Ultimately, the choice is yours! Take your time, carefully consider all factors, and trust your gut instinct.
Career

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Hi Sir/Madam, Hopping you are doing good, Due to my bad luck I was avoiding online job offer since last one year, but due to some mental disturbance on Saturday I think my mind is in my control then how can they take my money and this was a blunder mistake and I paid them around 3 Lac. is a way I can get my money? and if yes how. Thanks in advance Regards, Jai
Ans: Hello Jai, I’m sorry to hear that you were scammed. It’s important to act quickly to increase the chances of recovering your money. Here are some steps you can take:

Report the fraud to your bank: If you paid through your bank, report the fraudulent transaction to your bank immediately. They will guide you through the due process for a reversal.

Contact the company responsible: If you used a money transfer app, contact the company responsible and report the scam. Ask if they have a payment reversal policy to get your money back.

Inform the authorities: Report the scam to the relevant authorities. In India, you can report the fraud to the Reserve Bank of India (RBI). As per guidelines from the RBI, victims of any unauthorized transaction can still get a full refund. People who immediately share information regarding any such fraud transactions can help avoid losing money.

Be patient: It may take some time to recover your money. However, if you act quickly and follow the right steps, there is a good chance that you will get your money back.

I hope this helps. Please let me know if you have any other questions or concerns.

..Read more

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Ramalingam

Ramalingam Kalirajan  |8611 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 30, 2025

Money
Dear experts, Is CGAS account mandatory to open even if the entire amount realized during selling of a land is reinvested into buying a new residential home before the ITR filing date of the financial year in which the land was sold? Can a normal fixed deposit be done, given that the home will be purchsed before the ITR due date, or the amount kept in the savings account only in which it was originally received? When CGAS account is really needed? And if the land is inherited, is fair market value (FMV) certificate mandatory during tax filing? Warm Regards.
Ans: Capital Gains and CGAS can confuse many. You’ve clearly understood key parts already. That’s a good start. Let’s look into the entire situation, part by part.

We will explore the rules, your options, and how to avoid mistakes. This will give you a complete 360-degree clarity from tax, legal and compliance angles.

 
 
1. When Capital Gains Account Scheme (CGAS) Becomes Mandatory

CGAS is not needed in all cases.
 
 

You must deposit in CGAS only if home purchase is delayed.
 
 

If you reinvest before ITR due date, CGAS is not compulsory.
 
 

You can reinvest directly in the new house.
 
 

Keep proofs of payments, builder receipts and registry.
 
 

This is allowed even if amount is not kept in CGAS.
 
 

Fixed Deposit or savings account is fine in such case.
 
 

But all reinvestment should happen before the ITR due date.
 
 

If even part of it remains, then CGAS is mandatory for balance.
 
 

So, CGAS is only a backup rule, not the first step.
 
 
2. Can Fixed Deposit or Savings Account Be Used Instead?

Yes, if you use the full sale amount in time.
 
 

There is no restriction to keep the sale money in a bank FD.
 
 

Even savings account can be used till reinvestment.
 
 

But do not mix that account with other funds.
 
 

It should be clearly seen that the money was from land sale.
 
 

Keep trail of cheque/RTGS and amount received in bank.
 
 

Use the same account for property payment preferably.
 
 

Attach documents to your tax file as proof of usage.
 
 

So, a separate CGAS account is not required if home is bought on time.
 
 
3. Real Timing for CGAS Requirement

Let’s say land is sold in FY 2024–25.
 
 

ITR filing due date is 31st July 2025 (for most individuals).
 
 

If you do not reinvest before 31st July 2025, then CGAS is needed.
 
 

You must deposit remaining capital gains before that date.
 
 

Otherwise, the capital gain becomes taxable.
 
 

After that, you can buy the home within two years.
 
 

Or construct the home within three years.
 
 

But tax exemption applies only if CGAS rules are followed.
 
 

So, CGAS gives you extra time, but with some process to follow.
 
 
4. What Happens If You Don’t Open CGAS?

If no reinvestment is done and no CGAS is opened,
 
 

Then you lose the exemption under the capital gains rules.
 
 

The gain will be treated as long-term capital gain.
 
 

You will need to pay tax on it.
 
 

Keeping money in FD or savings account won’t save tax after deadline.
 
 

Tax will be calculated as per rules and payable with interest.
 
 

So, if you're not ready to reinvest, then open CGAS on time.
 
 
5. For Inherited Land – Is Fair Market Value (FMV) Mandatory?

Yes, FMV is required for inherited property.
 
 

FMV as on 1st April 2001 must be calculated.
 
 

This becomes your cost of acquisition.
 
 

Without FMV, your gain will look artificially high.
 
 

That will lead to more tax than needed.
 
 

FMV must be from a registered valuer.
 
 

Use this valuation during capital gain working.
 
 

Keep valuation certificate with your documents.
 
 

It is not submitted with return, but can be asked later.
 
 

So yes, FMV certificate is very important in your case.
 
 
6. Points to Remember for Reinvestment and Tax Filing

Always try to reinvest before the ITR filing due date.
 
 

Keep documents ready – sale deed, purchase deed, payment proof.
 
 

Mention exemption under the correct capital gains section in ITR.
 
 

File ITR with details of both sale and new purchase.
 
 

If any delay is there, deposit in CGAS before 31st July.
 
 

Open CGAS with a scheduled bank only.
 
 

Withdraw money from CGAS only for house purchase or construction.
 
 

Do not withdraw for other purposes. That makes it taxable.
 
 

Proper filing avoids notices and problems later.
 
 
7. Should You Do CGAS Deposit Early Just in Case?

If you're unsure about home purchase date, CGAS is a safe backup.
 
 

You can withdraw later for the purchase purpose.
 
 

But if you're confident about timing, no need to open CGAS.
 
 

Avoid unnecessary paperwork if not required.
 
 

So, CGAS is useful, but not needed if timing is right.
 
 
8. Role of a Certified Financial Planner in Such Cases

Tax planning around property needs correct steps.
 
 

A Certified Financial Planner helps track timelines and rules.
 
 

You get full support for investment, taxation, compliance and reinvestment.
 
 

A CFP can also coordinate with CA or legal expert.
 
 

They also help with ITR and property documentation.
 
 

It removes the guesswork and avoids last-minute issues.
 
 

Guided help gives better peace of mind.
 
 
Finally

You are handling a serious matter with clarity and awareness. That’s a strong foundation. You do not need to open a CGAS account if the home is fully bought before the ITR due date. You can keep money in your savings account or fixed deposit during this time. Just make sure the home is purchased and payment is completed before the filing date.

If not, deposit balance gains in CGAS to save tax. FMV is also required for inherited land. Get a certified valuer’s report. Use this in capital gain computation. This avoids tax mistakes.

Stick to timelines. Keep clear records. Plan your reinvestment wisely. Work with a Certified Financial Planner if needed for execution and follow-through.

 
 

Best Regards,
 
K. Ramalingam, MBA, CFP
 
Chief Financial Planner,
 
www.holisticinvestment.in
 
https://www.youtube.com/@HolisticInvestment

...Read more

Mayank

Mayank Chandel  |2420 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on May 30, 2025

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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