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Visas, Study Abroad Expert - Answered on Jan 03, 2024

Geeta Ratra has been an immigration expert for more than two decades and has strong knowledge of international immigration policies and procedures. She is vice president, operations, at Abhinav Immigration Services. Besides visa and immigration services, they also provide study abroad advice that includes application assistance, counselling and university shortlisting.... more
Bishwajeet Question by Bishwajeet on Sep 02, 2023Hindi
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Career

My son wants to go for undergraduate in US. Please advise pros and cons with Expense and process .Thanks

Ans: Opting for an undergraduate degree in the US offers access to world-class education and diverse cultural experiences. However, the high tuition costs and living expenses can be a drawback. The application process involves standardized tests, essays, and recommendation letters. Consider scholarships and financial aid options. Weigh the benefits of a U.S. education against the associated expenses to make an informed decision.
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Sushil

Sushil Sukhwani  |555 Answers  |Ask -

Study Abroad Expert - Answered on Jul 31, 2023

Asked by Anonymous - Jul 11, 2023Hindi
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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.

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Sushil

Sushil Sukhwani  |555 Answers  |Ask -

Study Abroad Expert - Answered on Jan 02, 2024

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My son studing mbbs (fina year) at kalkata medical college, want to study in abroad (USA) , How is it possible with financial assistance?
Ans: Hello Naba,

To begin with, thank you for contacting us. I am happy to hear that your son is currently pursuing the final year of MBBS at Kolkata Medical College and wishes to further study in the USA. To answer your question first, I would like to tell you that although a promising opportunity, pursuing medicine overseas, specifically in the United States involves substantial monetary constraints. Nevertheless, remember that your son could seek financial aid from numerous sources. I would recommend that he looks into the available grants or scholarships provided by private organizations or universities that aim to assist international medical students. Furthermore, although typically needing a cosigner who is a citizen or permanent resident of the US, there are student loans that are designed exclusively for foreign students attending US universities. Your son could explore these as well. Not just that, he could also engage in on-campus part-time jobs, this can be an excellent way to defray expenditures. To learn about the available possibilities and prerequisites for international students wishing to pursue medicine in the USA, I would suggest that your son conducts an extensive study and gets in touch with universities, offices offering financial assistance, as well as looks into the various scholarships offered.

For more information, you can visit our website.

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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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