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Aspiring lawyer at 17, how can I ace the CLAT?

Parthiban T R

Parthiban T R   | Answer  |Ask -

Career Counsellor - Answered on Jul 06, 2024

Parthiban TR, a former professor, has been working in the fields of training and learning development for over 17 years.
As a career counsellor and mentor, he has been tutoring students from Classes I to XII (predominantly CBSE), UG (engineering) and others for nearly a decade.
He has worked as a lecturer and professor at the Kuppam Engineering College, Kuppam; the NRI Group of Institutions in Bhopal; and the Bhopal Institute of Technology and Science in Bhopal.
Parthiban qualified for GATE in 2002, 2011 and 2013 and has been training aspirants to prepare for NEET-UG and IIT-JEE.
He holds a bachelor's degree in computer science and engineering from the Guru Ramdas Khalsa Institute of Technology College in Madhya Pradesh and a bachelor's degree in education, specialising in physics and mathematics, from the Sri Venkateswara University, Tirupati.... more
Sindhu Question by Sindhu on Jul 05, 2024Hindi
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Career

pls help me how to prepare for CLAT ?

Ans: Just prepare.
Provided you have the syllabus, the materials required and most essential determination.
If you don't have them, collect.
Career

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Nayagam P

Nayagam P P  |3916 Answers  |Ask -

Career Counsellor - Answered on Aug 22, 2024

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Career
Good morning.My son is in standard 10th right now.We have planned to target CLAT and IPMAT for him after 12th.I it possible to prepare for both?If yes,how should he go about preparing for both ? What is the exam schedule?Thanks and regards.
Ans: Sumeet Sir, as Students should always have Plan B & Plan C, he can target both CLAT & IPMAT. However,

(a) he should allot more time to the one he is more interested in (law or management?).
(b) Preparing for both exams even from the 10th now will help him a lot to crack both exams with a decent score
(c) It is better to shortlist at least 5 law/management colleges he wishes to join, based on location preference, NIRF Ranking, specialization in both (civil, criminal, corporate, tax, cyber, intellectual property etc. and also in management: Finance, HR, Marketing, Operations, IT/Systems, etc.)
(d) He should join offline or online Coaching with any reputed Coaching Center. Choosing the right coaching center to prepare for both exams is important & also the Time Management for both.
(e) Make sure, he chooses the right stream (commerce or science) for his 11th/12th. Choosing the easier stream and the stream he is interested in will be better as he has to focus for CLAT & IPMAT also.
(f) It is also advisable to appear in 2-more Law & Management Entrance Exams as back-ups, instead of relying only on CLAT & IMPAT.
(g) Please check the syllabus of each Entrance Exam, download them, check the differences & he should focus more on weak subjects/topics among (examples of 2 exams):

IPMAT: Quantitative Ability, Logical Reasoning, and Verbal Ability.
CLAT: current affairs, logical reasoning, English language, legal reasoning, and quantitative techniques.

All the BEST for Your Son's Bright Future, Sir.

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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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