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Soft Skills Trainer - Answered on Apr 17, 2024

Maxim Emmanuel is the marketing director of Maxwill Zeus Expositions.
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Raman Question by Raman on Apr 16, 2024Hindi
Career

Sir i want ur guidance. I don't know what i do i done post graduate sociology and pg diploma in women and child development still i am unemployed can u guide me for my career

Ans: What is the Scope of an MA in Sociology?
Job Opportunities After MA in Sociology

Experts define sociology as the branch of behavioral science that deals with social groups, their internal forms or modes of organisation, the processes that tend to maintain or change these forms of organisation and relations between groups. Here are some of the benefits of studying sociology; check out:

Sociology gives you a new perspective to understand all social relationships maturely and comprehensively.
You can make positive changes in your interpersonal as well as professional relationships by studying sociology.
Sociology has a wide range of topics from which you can choose your career pathway.
Sociology enhances your social skills by teaching you tools and techniques to deal with real-life interactions and experiences with various social groups.
It helps you solve your social problems, if any, in a constructive and result-oriented way.
It gives you insights into international issues and human behaviour patterns.
Suppose you want to make career in pyschology; taking different undergraduate and post-graduate courses will open doors to quality work opportunities. Bachelor’s or master’s in sociology are believed to be the most popular courses. The courses’ curriculum acquaints you with the fundamentals of human behaviour and gives a deep insight into human social relationships and institutions. Below, we have discussed the scope and job opportunities after MA in sociology.

What is the Scope of an MA in Sociology?
MA in sociology is a post-graduate course that equips aspirants with the skills required to work as contemporary sociologists, and understand complex human behavior patterns. An MA in sociology aims to provide students a deep insight into various facets of society, human behavior, and different institutions prevalent in the business environment. In the next section of the article, we will explore the scope of an MA in sociology in detail.

Sociology delves deeper into the diverse interactions between society and individuals. The scope of sociology also covers the fundamental sociology of market research, visual studies, diaspora studies, etc. It also includes a wide variety of sociological methods used to study the social life of humankind.

The scope of MA in sociology also includes studying social processes, social institutes, and social groups. After doing an MA in sociology, you can choose any of the aforementioned subjects for specialization.

Furthermore, there are ample career options in sociology . Many fields, including research, education, criminology, healthcare, and child development, offer lucrative jobs with competitive pay package after MA sociology. Let us walk you through careers opportunities after pursuing MA in sociology.

Job Opportunities After MA in Sociology
Here are some of the job opportunities that you can take after completing MA in sociology:

Sociology Professor
As a Sociology Professor, you can shape minds, conduct research, and contribute to academic discourse. Universities and colleges often seek individuals with advanced degrees to teach sociology courses.

Life Coach
Leveraging your sociological insights, you can pursue a career as a Life Coach, guiding individuals through personal and professional challenges, fostering personal development, and enhancing well-being.

Sociologist
Engage in sociological research and analysis, contributing to a deeper understanding of societal structures, behaviors, and trends. Sociologists often work in research institutions, think tanks, or government agencies.

Probation Officer
Apply sociological perspectives in the criminal justice system, working as a Probation Officer. Help individuals reintegrate into society, assess rehabilitation needs, and monitor probationary conditions.

Social Worker
Make a direct impact on communities by becoming a Social Worker. Address societal issues, advocate for vulnerable populations, and provide support services to those in need.

HR Coordinator
With an understanding of human behavior and organizational dynamics, work as an HR Coordinator. Apply sociological insights to foster a positive workplace culture, handle employee relations, and contribute to organizational development.

Community Health Worker
Contribute to public health initiatives by working as a Community Health Worker. Use sociological perspectives to address health disparities, engage communities, and implement preventive health measures.

Marketing Research Executive
Bridge sociology and business by becoming a Marketing Research Executive. Conduct consumer behavior studies, analyze market trends, and provide valuable insights to guide marketing strategies.

Public Relations Specialist
Utilize your sociological background in communications as a Public Relations Specialist. Shape public perception, manage organizational image, and navigate societal dynamics in the realm of public relations.

Government Jobs After MA in Sociology
Explore diverse opportunities in government sectors, such as civil services, research roles, or policy analysis. Sociological expertise is valuable in shaping public policies, addressing social issues, and contributing to governance.

Teaching and Education
After your MA in sociology, you can appear for National Eligibility Test (NET) or State-level Eligibility Test (SET) and join a college or university as an Assistant Professor or Associate Professor. Alternatively, you can pursue a PhD or M.Phil to teach sociology in universities. This way, you can begin your career in primary and secondary education and child development.

Administrative Services
Indian administrative services (IAS), Indian police service (IPS), and Indian forest service (IFS) are some of the best job opportunities after MA sociology. Passion and dedication must be your driving force while opting for administrative services like IAS or IPS. Moreover, you must qualify for the Civil Service Aptitude Test (CSAT) held by Union Public Service Commission to begin your career in the field.

Otherwise, you can take examinations held by the State Public Service Commission after completing your graduation. You can apply for job titles like Assistant Commissioner, Sub-Divisional Magistrate, District Public Relations Officer, and more after completing the MA in sociology course.

Therapy and Counselling
You can develop a career in therapy and counselling with an MA in sociology. Those with a post-graduate or undergraduate degree in sociology can become successful counsellors and behaviour therapists in fields like education, healthcare, governance, or community services.

Suppose, you want to make a career as a therapist or counsellor, then empathy, patience, analytical skills, critical thinking ability, and interpersonal communication are the qualities you require.

Research
It is believed that some interesting jobs after MA in sociology are in research, and you can carve a lucrative career with the highest job satisfaction. After completing MA in sociology or similar courses, you can apply for the role of a Junior or Senior Research Fellow, Research Assistant, or Senior Research Officer across different industries.

Family, and Child Development and Welfare
Excellent jobs come your way after an MA in Sociology in family and child development and welfare. The opportunities include a Probation Officer in the District Child Protection Society, a Marriage Counsellor, a Therapist or a Counsellor in a rehabilitation centre, a family or child development officer, and so on.

A few more job roles that one can undertake after completing MA in sociology are:

Gerontologists in the healthcare sector
Social workers in NGOs and charities
Community development workers in human welfare
Sociology professors or tutors
Life coaches, motivators, or consultants
Social influencers
Social scientists
Career

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Latest Questions
Ramalingam

Ramalingam Kalirajan  |1896 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 10, 2024

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I am 84 year old senior citizen. I withdrew two fixed deposit prematurely. Bank levied penal charges on premature withdrawal. Can I claim penal interest as deduction while filling ITR returns. Pl guide
Ans: No, unfortunately, you cannot claim the penalty levied on premature withdrawal of your fixed deposits (FDs) as a deduction while filing your Income Tax Return (ITR).

Here's why:

Income vs. Expense: The penalty on FD withdrawal is considered an expense incurred for breaking the terms of the deposit agreement. It's not directly related to earning income from the FD interest.
Tax Deductions: Income tax deductions are allowed for expenses incurred for generating taxable income. The penalty on FD withdrawal doesn't fall under this category.
Taxation on FD Interest for Senior Citizens:

Even though you cannot deduct the penalty, there might be some relief on the interest income itself:

Section 80TTB: If your total interest income from all FDs and Savings accounts is less than ?50,000 per year, you can claim a deduction under Section 80TTB of the Income Tax Act. This eliminates tax liability on that interest income.
No TDS for Senior Citizens: For senior citizens (above 75 years old), banks don't deduct TDS (Tax Deducted at Source) on FD interest up to ?50,000 per year from a specified bank where you receive your pension.
Recommendations:

Plan for Premature Withdrawals: If you foresee needing the money before the FD matures, consider shorter tenure FDs or opting for partially withdrawable FDs to avoid penalties.
Explore Tax-Saving Options: Look into tax-saving fixed deposits or senior citizen savings schemes (SCSS) that offer better interest rates and may not have high penalties for premature withdrawal.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1896 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 10, 2024

Asked by Anonymous - May 10, 2024Hindi
Money
Hi Ramalingam, Hope you are doing well. Age 31, IT Professional (8 Years), Married, Nuclear Family, Mid level family business in small town. 1) Currently I am NRI from last 1 year and recently have bought Few mutual funds like UTI large cap Index, Parag Parikh flexi cap, Motilala Oswal Mid Cap, Quant & Nippon small cap funds. All are just started recently with total SIP of 28k monthly. 2) I have been investing in PPF from last 4 years. 3) Minor LIC and Company PF of around 4.5L. 4) No loans, EMI as of now, own family house and agricultural unutilized land. 5) Existing Equity shares of 3L which I bought 5 year earlier. 6) I am not looking for buying flats/apartment as such. The major mistake I feel was I didn't invest till now and had kept money in savings account idle, which I regret to some extent. Queries: 1) As currently I am an NRI, I wanted to know what are the taxation rules on my shares if I buy or sell. Also, I hope there should be no issues as I bought mutual funds being NRI as anyway at point of selling I will be resident indian hopefully. Should I increase the amount of SIP? I am looking for Step up SIP Of 5-10%. Should I go for International fund now? 2) I was thinking to invest in fixed deposits and govt bonds, am I eligible to do this or this will attract me more taxation. For your better understanding, Currently I am in Saudi Arabia. 3) Your suggestions related to investment in Equity, gold, debt are highly appreciated as it will guide me further. 4) What are better things to look out from investment perspective being an NRI 5) Can you please help me plan for an excellent financial stability plan if I want to retire early around 45-48 years that is in next 15 to 18 years from now. Thanks
Ans: I appreciate your detailed overview of your financial situation and your proactive approach to investing. Let's address each of your queries systematically to ensure we cover all aspects comprehensively.

1. Taxation on Shares and Mutual Funds: As an NRI, capital gains tax rules apply to your investments in shares and mutual funds in India. For equity investments held for over one year, long-term capital gains (LTCG) are taxed at 10% without indexation. For mutual funds, equity-oriented funds are treated similarly. However, if you become a resident Indian again, you'll be taxed as per the applicable resident Indian tax laws. Increasing your SIPs by 5-10% annually is a prudent strategy, especially considering your long-term investment horizon and the power of compounding. Regarding international funds, they can provide diversification benefits, especially during periods of rupee depreciation, but ensure you understand the associated risks before investing.

2. Investment in Fixed Deposits and Government Bonds: As an NRI, you are eligible to invest in fixed deposits and government bonds in India. Interest earned on fixed deposits is taxable in India, subject to applicable tax laws. Government bonds also carry tax implications, but specific rules depend on the type of bond and your residential status. Given your current location in Saudi Arabia, consider exploring NRI-specific investment options like NRE or NRO fixed deposits, which offer tax benefits and repatriation flexibility.


3. Investment Strategy: Diversification is key to a well-rounded investment portfolio. Equity investments offer long-term growth potential, while debt instruments like PPF provide stability and tax benefits. Considering your risk appetite and investment goals, continue your SIPs in equity mutual funds, but ensure you have an adequate emergency fund in place. Explore options like international funds for global exposure and consider increasing exposure to debt instruments for capital preservation.

4. Investment Considerations for NRIs: As an NRI, it's essential to stay informed about regulatory changes and tax implications related to your investments in India. Additionally, consider factors like currency risk, repatriation restrictions, and geopolitical developments when making investment decisions. Regularly review your portfolio and consult with a financial advisor to optimize your investment strategy based on changing market dynamics.


5. Early Retirement Planning: Achieving early retirement requires careful financial planning and disciplined saving and investing. Start by setting clear retirement goals, estimating your future expenses, and determining the required corpus. Maximize contributions to tax-efficient retirement accounts like EPF, PPF, and NPS. Consider allocating a portion of your portfolio to growth-oriented assets like equity mutual funds to generate inflation-beating returns over the long term. Regularly reassess your retirement plan and adjust your investment strategy as needed to stay on track towards your retirement goals.

By following a systematic approach to investing, staying informed about regulatory changes, and regularly reviewing your financial plan, you can work towards achieving financial stability and early retirement.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1896 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 10, 2024

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Hello Sir im turning 36 this Dec...Im not very old in MF investment however looking forward to being consistant...I want to build up a corpas of 50 lakh by age of 40..my invest as per below... Quant/kotak/axis small cap direct growth- 10K each/month(9 month old) parag parikh ELSS tax saver- 2K/month(12 month old) mirae asset ELSS tax saver-2.5K/month(3 year old) quant ELSS tax saver-3K/month(16 month old) Kotak ELSS tax saver-2K/month(16 month old) SBI PSU direct plan-3K/month( 1 month) Aditya birla sunlife PSU equity fund- 5K/month(1 month) need your expertise if I need to change funds...these are combined investment by me & my wife..TAX saver are required to avoid tax liability under 80C..aprat from this Im investing 40K/year in PPF valued 1lakh(3 year old)
Ans: It's great to see your commitment to building your investment portfolio. Let's review your current mutual fund investments and see if any adjustments are needed to align with your goal of accumulating a corpus of ?50 lakhs by the age of 40.
Your current allocation seems well-diversified across various mutual fund categories, including small-cap funds, ELSS tax savers, and sector-specific funds like SBI PSU and Aditya Birla Sunlife PSU equity funds. However, there are a few points to consider:
1. Small-Cap Funds: Investing in small-cap funds can offer high growth potential but comes with increased risk due to market volatility. Since you're relatively new to mutual fund investments, ensure you have a high risk tolerance and a long-term investment horizon for these funds.
2. ELSS Tax Saver Funds: It's wise to continue investing in ELSS funds to avail tax benefits under Section 80C. However, having multiple ELSS funds may lead to duplication of holdings and increase complexity without significantly diversifying your portfolio. Consider consolidating your ELSS investments into one or two funds with a proven track record and consistent performance.
3. Sector-Specific Funds: Funds like SBI PSU and Aditya Birla Sunlife PSU equity focus on specific sectors, which can be volatile and dependent on sectoral performance. While they offer the potential for high returns, they also carry higher risk. Ensure these funds complement your overall portfolio strategy and are not over-concentrated in a single sector.
4. PPF Investment: Investing in PPF is a good strategy for long-term wealth accumulation and tax-saving. However, keep in mind that PPF has a lock-in period of 15 years, so ensure it aligns with your liquidity needs and investment goals.
Considering the above points, here are some suggestions:
• Evaluate the performance of your existing funds and consider consolidating your ELSS investments into one or two funds with strong fundamentals and consistent performance.
• Monitor the performance of small-cap funds closely due to their higher volatility and consider rebalancing your portfolio if needed.
• Review your sector-specific fund investments periodically and ensure they align with your risk tolerance and investment objectives.
Lastly, it's essential to regularly review your investment portfolio and make adjustments as needed to stay on track towards your financial goals.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
Asked on - May 10, 2024 | Answered on May 10, 2024
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Thank you for vastly explaining my port folio.....have one question regarding ELSS funds...can I stop investing in one fund wait for balance to mature as every SIP has a lock in period!! what happens when we stop SIP in ELSS funds... we couple both are working so I'm intending for high risk/high return for next 2-3 years...I have also start investing in stock(being cautious)
Ans: Absolutely, you can stop investing in one ELSS fund and allow the existing investments to mature. ELSS funds have a lock-in period of three years from the date of each investment, so once the lock-in period is over for each SIP, you have the option to either redeem the units or continue holding them.

When you stop SIPs in ELSS funds, the existing investments continue to grow, and you retain ownership of the units. However, keep in mind that stopping SIPs doesn't impact the lock-in period of the existing investments. Each SIP installment will have its own lock-in period of three years from its investment date.

If you're looking for high-risk, high-return investments for the next 2-3 years, it's essential to assess your risk tolerance and investment horizon carefully. ELSS funds, especially those investing in small-cap or mid-cap stocks, can be volatile in the short term but may offer higher returns over the long term.

Additionally, investing in individual stocks requires thorough research and a good understanding of the stock market. It's wise to approach stock investing cautiously, especially if you're relatively new to it. Diversification and thorough research are key to managing risk in stock investments.

Overall, it's great that you and your spouse are both working towards your financial goals and are open to taking calculated risks for potentially higher returns. Remember to regularly review your investment portfolio, stay informed about market developments, and adjust your strategy as needed to stay on track towards your goals.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1896 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 10, 2024

Asked by Anonymous - Apr 19, 2024Hindi
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I have booked a residential flat with a developer who shall be developing a scheme comprising of 6 flats, 3 of which shall be retained by the land owners and 3 shall be sold by the developer to buyers like me. The developer has entered into an agreement for redevelopment with the land owners and he shall be receiving sale price of the flat from 3 persons purchasing the flats, I am one of them as stated earlier. The redevelopment agreement between the land owner and the developer is only for constructing the structure. The Sale-Deed shall be executed between the Vendor -that is the original land owners and the Purchasers like me. The developer shall be the Confirming Party, confirming the receipt of the entier payment, against the purchase of the flat, delivery of possession to the purchasers like me. Therefore the sale deed shall be between the purchaser and the land owners. The developer has rendered the services to be taxed under the GST Act to the land owners. The Land owners may recover the GST paid/charged/recovered by the developer, from the 3 purchasers. My queries are: 1. What is the rate at which on the services of development/construction rendered on the piece of land are taxable under the GST Act? 2. If I presume, it is at 5%, in that case am I not required to pay 1/6th of the GST paid by the land lord and nothing more than this? 3. Can developer demand the GST on the entire cost of the flat including the cost of the undivided share of land falling to my share? The land, under the Sale-Deed is sold/transferred by the Land lord and not by the developer, under what authority he can demand 5% GST on the cost of the land? 4. Are we not buying a ready to move or a ready made flat although we have to pay on the basis of the stage wise completion of the building structure and therefore only 1% GST? Please guide.
Ans: You're right to be questioning the GST implications in this situation. Here's a breakdown of your queries:

GST Rate on Development Services: The GST rate for construction services on an immovable property (land + building) is generally 5%. However, there's an exception for affordable housing projects, where the rate is 1%.

Sharing of GST by Landowners and Purchasers: Since the sale deed is directly between you (purchaser) and the landowner (vendor), you are not obligated to pay 1/6th of the GST paid by the landowner to the developer. You'll only pay GST on the value mentioned in your sale deed.

GST on Land Cost: The developer cannot demand GST on the entire cost of the flat, including the undivided land share. GST applies to the value of services rendered (construction) and not the land itself.

GST on Ready-to-Move Flats: The GST rate of 1% for ready-to-move flats only applies to completed projects where the occupancy certificate has been issued. In your case, it's an under-construction project, so the 5% rate applies.

Here's how the GST should ideally work in your scenario:

The developer pays GST to the government on his service charges for constructing the flats (5% of his construction cost).
The landowner pays stamp duty and registration charges on the land value mentioned in your sale deed.
You, the purchaser, pay GST to the developer on the value mentioned in your sale deed (excluding land cost) at the rate of 5% (assuming it's not an affordable housing project).
Recommendations:

Ask the developer to provide a breakup of the total cost, clearly mentioning the land cost and construction service charges.
Pay GST only on the construction service charges mentioned in your sale deed.
If the developer insists on including GST on the land cost, consult a tax advisor to understand your rights and explore further options.
Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

...Read more

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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