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Tejas Chokshi | Answer |Ask -Follow

Tax Expert - Answered on Aug 07, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more

Question by San on Jul 28, 2023Hindi

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last year I filled ITR4 as I am freelance teacher. this year i have started share trading. so Can I file ITR3 this year as I have both incomes as freelance & share trading profit.

Ans: Yes, you can file ITR-3 this year if you have income from both freelance teaching and share trading profits. ITR-3 is the income tax return form that is applicable for individuals and Hindu Undivided Families (HUFs) who have income from sources like business or profession, including income from trading activities

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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Question by MADANLAL - Aug 29, 2022Hindi

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I am regular Rediff reader. Sir, 1) I am earning through share trading, my income is up to 5 lakh. Please advise which ITR form I have to file. 2) And if my income is with salary and share trading up to 5 lakh, then which ITR form I have to file.

Ans: In both the cases you can use ITR 2 to file your tax returns.

ITR 2 is used to file tax when you have income from salary, income from house property, income from capital gain and loss (in your case shares), foreign income, etc.

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Question by Pratima - Nov 07, 2022Hindi

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If I put my royalty income under the head “Profits and Gains of Business or Profession” then which ITR form I am supposed to fill - ITR 3 or ITR 4?

Ans: ITR form will depend on the fact that Royalty is out of main business activity carried out by you OR Income from other sources. ITR 3 and 4 both are applicable for Income from Business and Profession (subject to other conditions).

Main difference is that ITR 4 is applicable if you are eligible and opting for presumptive taxation as per Sec 44AD/44ADA.

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Tax Expert - Answered on Jul 21, 2023

Question by BD - Jul 20, 2023Hindi

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Dear Mr. Mihir, I was working for a private company and retired on superannuation in November 2022. Thereafter, I was engaged by the company as a consultant to complete some pending project. Therefore during the financial year 2022-23, I have salary income from the company and also some amount the company paid to me for professional services for my consultant role after retirement. Which ITR form should I use, ITR-2 or ITR-3? I have income from salary and also from professional service. Regards

Ans: After retirement you were working on as profession on full time basis, thus, it will be chargeable under the head Income from Business and profession. If your profession is covered by list of profession mentioned in 44AA and gross receipt from profession is less than 50 lacs, you can opt for presumptive taxation and take 50% deduction. If presumptive taxation is opted, you can file ITR 4 else ITR 3 is applicable.

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Career Counsellor - Answered on Jun 28, 2025

Question by Srinivas - Jun 28, 2025Hindi

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My son got admission in CSE at VIT Vellore. His score in MHCET is 97.65. He is aiming for admission in either VJTI or SPIT in CS, E&C or Mech. Any chance he will get this or better of woth VIT? Please guide

Ans: Srinivas Sir, At VJTI, Computer Science & Engineering closed at MHT CET CAP Round 2 rank 112 (≈99.8 percentile), Electronics & Telecommunication at rank 747 (≈99.4 percentile) and Mechanical at rank 2,392 (≈98.8 percentile), while SPIT admitted CSE at 99.77 percentile and E&TC at 99.14 percentile. Your 97.65 percentile falls well below these thresholds, making VJTI and SPIT out of reach. VIT Vellore’s CSE has achieved around 80–90% placements over the last three years, compared to approximately 82% at VJTI and nearly 100% at SPIT. Recommendation: Accept the CSE seat at VIT Vellore, as VJTI and SPIT remain inaccessible with your current percentile. All the BEST for the Admission & a Prosperous Future!

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Career Counsellor - Answered on Jun 28, 2025

Asked by Anonymous - Jun 28, 2025Hindi

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Good Morning sir,,My son has got IIITD CSE through JAC and IIT Tirupati Chemical Engineering through JOSAA, Please guide which to choose, Thank you sir

Ans: It depends on which branch of Engineering he prefers more. Go to that college where the branch is liked by him.

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Career Counsellor - Answered on Jun 28, 2025

Question by amit - Jun 28, 2025Hindi

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Mahindra University CSE or Manipal bangalore cse

Ans: Mahindra University CSE

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Question by Subhash - Jun 28, 2025Hindi

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Sir, my son JEE adv 120xx. We got IIT Bhilai in mechanical. Please advise can we get in IIT Tirupati mechanical

Ans: Unless I know the exact rank it can't be said. But your son can join IIT Bhilai, what's wrong in that?

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Career Counsellor - Answered on Jun 28, 2025

Asked by Anonymous - Jun 28, 2025Hindi

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Hi we have got vit mtech Integrated cse vellore campus at half the fee of amritha Bangalore campus btech cse ai which one to choose?

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Career Counsellor - Answered on Jun 28, 2025

Asked by Anonymous - Jun 28, 2025Hindi

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IIT Kanpur Mechanical or IIT Hyderabad Electrical Which is a better option

Ans: Always old IITs are much better than the new one, so straight join IIT Kanpur.

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Career Counsellor - Answered on Jun 28, 2025

Question by Yadavelli - Jun 28, 2025Hindi

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Sir I got cse in sastra Thanjavur and cse in Manipal Bangalore Which is better?

Ans: cse in sastra Thanjavur will save lot of money. So go for it.

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Career Counsellor - Answered on Jun 28, 2025

Question by Aniket - Jun 28, 2025Hindi

Career

Sir I got 64220 in overall rank and i am OBC category will I get college in IAT

Ans: Aniket, With an overall IAT 2025 rank of 64,220 and OBC category status, admission to any IISER is not possible. The 2024 and expected 2025 closing OBC ranks for even the least competitive IISERs (such as Berhampur and Tirupati) are below 2,400, with most OBC seats closing between 1,600 and 2,400 depending on the campus and round. The expected OBC cutoff for 2025 is 100–110 marks, and all IISERs maintain strict seat matrices, making admission at a 64,220 overall rank (which would correspond to a much higher OBC rank) impossible. No official or trend data supports OBC admissions at or beyond this rank, even in spot or withdrawal rounds.

Recommendation: With an overall rank of 64,220 and OBC category, IISER admission is not possible; focus on alternative science or engineering colleges, state universities, or private institutes for your academic journey. All the BEST for the Admission & a Prosperous Future!

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Career Counsellor - Answered on Jun 28, 2025

Asked by Anonymous - Jun 28, 2025Hindi

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Hi experts I scored 66.9 percentile in jee mains can I get any colleges like IIT,NIT,IIIT,NIFTEM ,GIFT or anything reputated govt college and my all India rank is 500512 I belongs to obc-ncl category with ranks of 182419 and scored 80% in boards

Ans: No you won't get any reputed college like IIT,NIT,IIIT,NIFTEM ,GIFT. You can only opt for Private Engineering Colleges.

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Career Counsellor - Answered on Jun 28, 2025

Asked by Anonymous - Jun 28, 2025Hindi

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My son has got IIT KHARAGPUR BS IN EXPLORATION GEO PHYSICS AND ELECTRONICS AND COMMUNICATION IN JADAVPUR UNIVERSITY WHICH IS BETTER?

Ans: IIT Kharagpur’s four-year BS in Exploration Geophysics admits 45 students annually, combines core geoscience with interdisciplinary training alongside ONGC, GSI and OIL, and recorded placement rates around 85% last year via its Career Development Centre. Jadavpur University’s Electronics & Communication Engineering, established in 1957, achieved a 98% placement rate in 2023-24, with top recruiters including Google, Microsoft, Texas Instruments and Samsung. Recommendation: Choose Jadavpur University ECE for broader core and IT-sector roles and superior placement consistency; opt for IIT Kharagpur Geophysics only if you have a dedicated interest in geoscience careers. All the BEST for the Admission & a Prosperous Future!

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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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