Hi, I have filed my ITR OF FY 2021-22 in the month of August 22. But while filling the same I forget to fill 10E for arrears received of previous financial years. Now as the date of filing revised ITR is already over is there is any way through which I can claim my relief.

Ans: Yes, you can invest the total Rs 60 lakh in a single residential flat to claim capital gains exemption under Section 54 of the Income Tax Act. However, there are a few conditions you must follow:

Key Conditions for Claiming Exemption
The new property must be a residential house. It should not be commercial or under construction beyond the allowed timeline.

The investment should be within the allowed time frame. You must buy the new flat within 2 years from the date of sale or construct it within 3 years.

You can use the amount from multiple sales. Even if you sell different floors of your property to different buyers, you can reinvest the total capital gain in one residential flat.

The capital gains account balance should be used within the allowed period. You must invest the Rs 30 lakh in the new house before February 2026. Otherwise, it will become taxable.

Important Considerations
If the new property costs less than Rs 60 lakh, the unused capital gain will be taxed.

The exemption applies only to long-term capital gains. If any portion of your gain is short-term, it will not qualify for exemption.

You must not sell the new property for at least 3 years. If you sell it before 3 years, the exemption will be reversed, and you must pay tax on the gains.

Final Insights
Yes, you can invest Rs 60 lakh in one flat and claim exemption under Section 54.

Ensure that you buy the new property within 2 years or construct it within 3 years.

Keep proper documentation for all transactions to avoid issues with the tax department.

If you need more clarity, consult a tax expert before making the final investment.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: NCL, very slim chance

Ans: No, being in central list is applicable to all states

Ans: Poonam, BHU, JMI & GGSIPU are the best options with Strong Alumni Network & Good Placements. All the best for your admissions!

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Ans: Pradeep Sir, Graphic design offers numerous career opportunities in advertising, branding, publishing, digital media, gaming, and animation. A Bachelor's Degree in Design (B.Des) in Graphic Design or Communication Design is a 4-year degree that provides in-depth knowledge of graphic design, typography, branding, and digital design. Top colleges offering B.Des include National Institute of Design (NID), MIT Institute of Design, Symbiosis Institute of Design, Srishti Institute of Art, Design and Technology, UPES School of Design, and Anant National University. A Bachelor's Degree in Fine Arts (BFA) in Applied Arts or Graphic Design is a 3-4 year course focusing on artistic skills along with graphic design. Diploma courses in Graphic Design are also available, such as MAAC, Arena Animation, Pearl Academy, and National Institute of Fashion Technology. Online graphic design courses can be a flexible option for flexibility. After completing studies, graphic designers can work in advertising agencies, branding and marketing firms, digital media and social media companies, e-commerce and IT companies, publishing and print media, gaming and animation (2D graphic designer), and freelance. IMPORTANT NOTE: As already March has started, it is advisable to apply for 3-4 entrance exams of concerned Colleges and also UCEED, NID-DAT, SEED, MIT-DAT, SEAT, NIFT, Pearl Academy etc. If your son wants to study in top government institutes, he should prepare for UCEED or NID DAT.
If he prefers top private design colleges, exams like SEED, MIT DAT, SEAT, UPES DAT, and Pearl Academy are good choices.
If he is open to fine arts-based programs, NIFT and BFA Applied Arts exams (like MH-AAC CET for J.J. Institute of Applied Art, Mumbai) are also good options. All the best for your Son's admissions, Pradeep Sir!

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Ans: Tarunima Madam, It's great that your daughter is interested in pursuing a design career in the IT field.

The IT field, also known as UI/UX Design, Interaction Design, or Digital Product Design, offers excellent career prospects due to the growing demand for user-friendly digital products. Companies are actively seeking skilled designers who can create intuitive and aesthetically pleasing digital interfaces. The demand for UX/UI designers, product designers, and interaction designers is growing globally, with diverse opportunities in tech companies, startups, e-commerce platforms, banking & fintech, healthcare, and gaming. Top UI/UX designers in India and abroad earn competitive salaries, with entry-level packages ranging between ?6-12 LPA in top companies. This field also allows for freelance work and global job opportunities.

The demand for innovative designers will continue to grow with the rise of AI, AR/VR, and Web3 technologies. Top institutes in India for UI/UX & Interaction Design include the National Institute of Design (NID), Indian Institute of Technology (IIT), IIT Guwahati, IIT Jabalpur, MIT Institute of Design, Sristi Institute of Art, Design and Technology, UPES, ISDI, Symbiosis Institute of Design, and Anant National University.

If you can afford and if your daughter is interested in studying abroad, globally renowned schools for UI/UX design include Carnegie Mellon University, Rhode Island School of Design, Parsons School of Design, Royal College of Art, University of Arts London, and TU Delft. Pursuing a career in IT-related design is a smart choice with excellent career growth. All the best for your daughter's admissions!

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Ans: Hello dear.
Sad to hear that you got a 000 in Physics at NIOS. If your exam was good and you have submitted the paper properly, then please contact the authorized center of NIOS and apply for revaluation. Every board allows the process of revaluation. If everything goes correctly, then you have to reappear for the examination.

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Radheshyam

Ans: Hello Vijaykumar
You can get admission to at least one NITs under the SC category.

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Ans: Hello Varsha.
Here are some colleges in which you may get admission: (1) Netaji Subhas University of Technology (NSUT) (2) Indira Gandhi Delhi Technical University for Women (IGDTUW) (3) Delhi Technological University (DTU).
These universities have historically had varying cutoffs, and your OBC status combined with the home state quota may enhance your chances. Best of luck to your upcoming future.
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Radheshyam