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Study Abroad Expert - Answered on Jul 04, 2023

Sushil Sukhwani is the founding director of the overseas education consultant firm, Edwise International. He has 31 years of experience in counselling students who have opted to study abroad in various countries, including the UK, USA, Canada and Australia. He is part of the board of directors at the American International Recruitment Council and an honorary committee member of the Australian Alumni Association. Sukhwani is an MBA graduate from Bond University, Australia. ... more
Sreekumar Question by Sreekumar on Jul 03, 2023Hindi
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Career

My son wants to go for MS degree in US. He is working as software engineer for one year now. Please advise pros and cons. Thanks,

Ans: Hello Sreekumar,

To begin with, thank you for contacting us. Choosing to pursue a Master of Science (MS) degree in the United States can be a significant decision with several pros and cons to consider. Here are some factors to keep in mind:

Pros:
1. Advanced Education: An MS degree can provide specialized knowledge and advanced skills in a particular field, allowing your son to deepen his expertise and stay competitive in the job market.

2. Career Opportunities: Many employers value candidates with advanced degrees, and an MS can enhance his chances of landing higher-level positions or advancing his career in the software engineering field.

3. Networking: Studying in the US can provide excellent networking opportunities, allowing your son to connect with industry professionals, potential mentors, and fellow students who may become valuable contacts in the future.

4. Research Opportunities: If your son is interested in pursuing research or academia, an MS degree can serve as a stepping stone towards a Ph.D. program and open doors to research positions or teaching opportunities.

5. Exposure to Diverse Perspectives: Studying in the US exposes students to a culturally diverse environment, which can broaden their horizons, foster global awareness, and provide a rich learning experience.

Cons:
1. Financial Considerations: Pursuing an MS degree in the US can be costly, including tuition fees, living expenses, and potentially higher healthcare expenses. It's important to carefully assess the financial implications and explore scholarships, grants, or assistantships to help mitigate costs.

2. Competitive Admissions: Admission to reputable MS programs can be highly competitive, especially in sought-after fields. Your son will need to prepare a strong application, including competitive test scores, letters of recommendation, and a compelling statement of purpose.

3. Temporary Stay: Pursuing an MS degree usually involves a temporary stay in the US on a student visa. It's essential to be aware of the associated visa requirements, potential limitations on employment, and the need to return to one's home country after completing the degree, unless pursuing further work authorization or education.

4. Personal Adjustments: Moving to a different country for studies can be a significant adjustment, including adapting to a new culture, lifestyle, and potentially being away from family and friends. Your son should be prepared for the challenges of living abroad and maintaining a support network.

For more information, you can visit our website.
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Sushil

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Study Abroad Expert - Answered on Jul 31, 2023

Asked by Anonymous - Jul 11, 2023Hindi
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Career
My son wants to go for undergraduate in US. Please advise pros and cons. Thanks,
Ans: Hello,

First and foremost, thank you for getting in touch with us. With your son's interest in pursuing undergraduate education in the USA, it's critical that you understand the many benefits and downsides. Here’s a summary:

Pros:

1. Academic Excellence: Universities in USA provide excellent education and research opportunities, with degrees that are recognized worldwide.

2. Array of Options: The United States offers a wide range of academic programs and majors, allowing students to customize their education to their interests and future prospects.

3. Research Possibilities: Colleges in USA have well-funded research programs that allow students to partake in cutting-edge studies, work with renowned scholars, and earn priceless experience.

4. Build global networks: Study in USA allows your son to interact with students from many cultures, establishing a strong global network for future professional opportunities.

5. Career Opportunities: A degree from the United States improves career opportunities internationally since employers value the abilities and global exposure earned.

6. Extracurricular Activities: Extracurricular activities, clubs, and organizations at US universities often allow students to develop leadership abilities and pursue interests outside of academics.

Cons:

1. Exorbitant Price: International students studying in the United States endure higher tuition rates than domestic students, causing a major financial strain. Furthermore, living expenses, viz., housing and healthcare, add to the overall price.

2. Immigration and Visa Rules: Navigating the US visa procedure can be challenging and time-consuming. Your son must make sure he fulfills all the requirements and keeps up with any changes to the policy.

3. Culture Shock: Moving to a foreign country can be challenging, and your son might face culture shock. Getting used to a new environment, lifestyle, and social conventions takes time and patience.

4. Away from Home: For some students, being far from home can be emotionally stressful, particularly during significant events or trying times.

5. Competitive Admissions: Admission to prestigious US institutions can be fiercely competitive, and meeting the admission requirements can be a challenging procedure.

6. Medical Insurance: In the US, health insurance is mandatory, but it may also be pricey. Understanding coverage and selecting the appropriate plan is critical for overseas students.

The decision to study in USA depends on your son's particular circumstances, academic interests, and professional objectives. Pursuing a US undergraduate education can be satisfying if he is passionate about a certain field and aware of the difficulties and opportunities. Making an educated decision requires research into colleges, programs, and scholarships.

For more information, you can visit our website.

..Read more

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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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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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