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Mihir

Mihir Tanna  |1111 Answers  |Ask -

Tax Expert - Answered on Jan 04, 2024

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Brunda Question by Brunda on Dec 22, 2023Hindi
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I am 90 years old and want to gift my asset to my children. How can it be done?

Ans: For income tax purpose, you should execute gift deed and transfer the assets. For execution, please check with consultant or lawyer who deals with it. For transfer of property, you will need help of real estate agent who can guide you in better way.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Hardik

Hardik Parikh  | Answer  |Ask -

Tax, Mutual Fund Expert - Answered on Jul 23, 2023

Asked by Anonymous - Jul 21, 2023Hindi
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Hello , My mother has some investments in shares & mutual funds. She wants to now distribute this ( gift) equally to all her children & keep one portion for her. Pls let me know what is the process to be followed & what will be the most tax efficient method . Does she needs to make a gift deed for each of her children ?
Ans: Hello,

Your mother's intention to distribute her investments among her children is a thoughtful gesture. Here's a simple explanation of the process and its tax implications in India.

1. Gifting Process: Your mother can gift her shares and mutual funds to her children. This can be done through a gift deed or even a simple letter stating her intention to gift the shares. The letter should mention the details of the shares/mutual funds, the name of the recipient, and the relationship between the donor (your mother) and the donee (her children).

2. Tax Implications for the Donor (Your Mother): In India, any gift given by a parent to their child does not attract any tax, irrespective of the value. So, your mother will not have to pay any tax when she gifts these shares and mutual funds to her children.

3. Tax Implications for the Donee (Her Children): The children will not have to pay any tax upon receiving the gift. However, if they decide to sell these shares or mutual funds in the future, they will be liable to pay tax under the head 'Income from Capital Gains'. The tax rate will depend on whether it's a short-term or long-term capital gain.

4. Gift Deed: Although it's not mandatory, it's advisable to execute a gift deed for each child. This will serve as a legal document and can be useful in case of any disputes in the future.

I hope this helps!

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Nayagam P

Nayagam P P  |11185 Answers  |Ask -

Career Counsellor - Answered on Apr 28, 2026

Career
Sir I have 93.5 percentile in jee mains and I am a kashmiri migrant i want to know that will I get top colleges of Maharashtra I have km merit rank in cap councelling of 28 based on last year out of 389 people and also please tell if the quota is in nits
Ans: Sidarth, With a 93.5 percentile and a KM merit rank of 28, your Maharashtra CAP chances are strong. Maharashtra CET rules treat J&K/Ladakh Migrant candidates separately, and for engineering admissions, a positive JEE Main score is given preference over MHT-CET scores.

You should aggressively fill choices including COEP Pune, VJTI Mumbai, SPIT Mumbai, PICT Pune, DJ Sanghvi, Walchand Sangli, Cummins, PCCOE, VIT Pune, and MIT-WPU. With a KM rank of 28, admission to top colleges is possible. However, CSE/IT in COEP, VJTI, SPIT, or PICT may be uncertain due to limited seats. Branches like ECE, AI-DS, ENTC, or IT in strong colleges are more realistic options. VJTI’s 2024 closing ranks indicate that CSE/IT branches remain highly competitive.

Regarding NITs, there is no general Kashmiri Migrant quota through JoSAA, as admissions follow CRL/category/HS-OS rules. The CSAB supernumerary quota in 2025 applied only to specific UT candidates, not broadly to KM. Nonetheless, it’s advisable to participate in JoSAA and CSAB counseling rounds.

Also, consider having 3-4 backup options to keep your chances secure. All the BEST for Your Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

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Nayagam P

Nayagam P P  |11185 Answers  |Ask -

Career Counsellor - Answered on Apr 28, 2026

Asked by Anonymous - Apr 28, 2026Hindi
Career
My daughter has got 93.91in jee 2026 with rank 95015 in general category and home state as delhi .please tell what are her chances of getting admission and branch in igdtu ,thapar and lnmit.Do IPU colleges in delhi hav good placements.please suggest some other good colleges for cse and related branches and ece
Ans: Based on your daughter's score, admission to IGDTUW is possible mainly in later rounds or spot rounds. For example, in 2023 Round-5 Delhi cutoffs (approximate), CSE closed around 58,531, IT at 66,326, AIML at 71,162, ECE at 90,900, and MAE at 1,03,589, making ECE and MAE more realistic options, while CSE and IT would be difficult.

Regarding Thapar Institute, the chances are better. In 2024, later cutoffs for Punjab quota showed Computer Engineering around 92,826 and ECE around 97,890, with some allied branches going much lower. For candidates outside Punjab, core CSE is tougher, but ECE, Electronics, and related branches in lower rounds could be worth applying for.

At LNMIIT, CSE admission is unlikely due to high JEE percentile expectations, but ECE might still be possible.

Consider IPU Delhi as a backup, along with reputable colleges like USICT, MAIT, MSIT, BVCOE, and BPIT, which have decent placement records. For detailed placement data, please check the respective college websites and online resources.

Other backup options to explore include JIIT Noida, Shiv Nadar University, UPES, Manipal Jaipur, Bennett University, and Chandigarh University. All the BEST for Your Daughter's Prosperous Future!

Follow RediffGURUS to Know More on 'Careers | Money | Health | Relationships'.

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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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