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Financial Planner - Answered on Aug 25, 2022

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more
Praveen Question by Praveen on Aug 25, 2022Hindi
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I shall be grateful if you could kindly arrange for clarification on following query through your tax expert.

My daughter has been NRI for Financial Years 2018-19, 2019-20 and 2020-21.

In current FY, because of pandemic, she was in India for a total of 123 days on 'Work from Home' assignment. What will be her residential status for FY 2021-22, considering that her total stay during preceding 4 years (2017-18 to 2020-21) will exceed 365 days?

In 2017-18, she was an ordinary resident while in 2018-19, she was in India for 5 months. Her taxable income in India for current financial year will be less than Rs 3 lakh.

Ans: Your question is a little unclear because you have not given year by year data. Further, I am assuming that you are asking for the status in FY 2022-23.

For a person to qualify as Resident Indian she should stay in India for more than 182 days in a year or she should stay in India for the immediately 4 preceding years is 365 days or more and 60 days or more in the relevant financial year.

Depending on whether one is in India for 60 days or more in the relevant financial year (you have mentioned that her stay exceeded 365 days in 4 previous years), your daughter’s residential status would be that of a Resident Indian or an NRI.

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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Financial Planner - Answered on Mar 11, 2024

Asked by Anonymous - Mar 10, 2024Hindi
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My daughter went to Germany first time for study in June 2020. During FY 22-23 She was in India for 58 days. What is her Residential status for Income Tax for AY 23-24, Bank, Demat and income from investment?
Ans: Here's how to determine your daughter's residential status for Income Tax (AY 2023-24), Bank, Demat account, and income from investments based on the information provided:

Income Tax Residential Status:

For Assessment Year (AY) 2023-24, your daughter's residential status will likely be Non-Resident (NR).

Here's why:

• She left India for studies in June 2020, indicating she might not have met the physical presence criteria in India during the relevant financial years (FY).

To be considered a resident for tax purposes in India, an individual needs to meet at least one of the following conditions:

• Stay in India for 182 days or more in the relevant financial year (FY 2022-23).
• Stay in India for at least 60 days in the relevant financial year AND for 365 days or more during the four preceding financial years (unlikely in this case since she left in 2020).

Important Note:

It's important to consider the entire period from June 2020 to March 2023 (covering FY 21-22, FY 22-23) to determine the residential status definitively.

Recommendation:

For a more precise assessment, it's advisable to consult a tax professional as they can consider all aspects of your daughter's situation, including:

• Exact number of days spent in India during FY 21-22.
• Nature and source of her income (if any) from investments.
• Any tax residency certificate she might have obtained in Germany.

Bank and Demat Account:

• Bank: Many banks might categorise your daughter as a Non-Resident (NR) based on her stay in India.
• Demat: Similar to the bank, the Demat account might also be categorised as non-resident if it aligns with her tax residency status.

Income from Investments:

• Tax implications on income from investments (e.g., dividends, interest) will depend on the type of investment, the source (India or abroad), and the tax treaty (if any) between India and Germany.

Further Resources:

Income Tax Department - Non-Resident Individual for AY 2023-2024: https://www.incometax.gov.in/iec/foportal/help/individual/return-applicable-0

Remember, this is a general overview, and consulting a tax professional is highly recommended for specific advice tailored to your daughter's situation.

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Sir can I choose rvce eee over msrit ai&ml
Ans: Rashtreeya Vidyalaya College of Engineering’s B.E. in Electrical & Electronics Engineering is NBA-accredited with NAAC ‘A+’, taught by PhD-qualified faculty in advanced power-electronics, control-systems and high-voltage labs, and has maintained over 97% branch-placement consistency over the last three years. Its dedicated Centre for Competence collaborates with ARCADIS and Hitachi to offer real-world projects and internships. M.S. Ramaiah Institute of Technology’s B.E. in Artificial Intelligence & Machine Learning is NBA-accredited, led by research-active PhDs, supported by IBM and Microsoft-partnered AI/ML and big-data labs, and recorded a 95% overall placement rate in 2023 with 358 recruiters, including Google, Amazon and Capgemini. Its curriculum integrates capstone projects and industry certifications. Both institutes offer robust career-development cells, mandatory internships, and alumni networks, but RVCE excels in core-electrical infrastructure and PSU tie-ups, while MSRIT provides deeper AI specialization and broader software-industry reach.

Recommendation: Given superior core-EEE infrastructure, PSU engagement and near-100% placements, recommendation is RVCE EEE. For a focused AI/data-science trajectory with cutting-edge labs and extensive software-industry placements, choose MSRIT AI & ML. All the BEST for Admission & a Prosperous Future!

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Dear Career Counselor, My son has scored 92.3 percentile in the MHT CET 2025 and is interested in pursuing Artificial Intelligence and Data Science (AI & DS). I understand that some of the top government or autonomous colleges may have higher cut-offs. However, I would like your guidance on the following: What are his chances of securing admission into good colleges in Maharashtra for the AI & DS stream with this score? Which colleges should we realistically target based on previous years' trends? Are there any emerging colleges or private institutes in Maharashtra that offer quality education and good placements in AI & DS? Your insights will help us make a more informed decision during the CAP rounds.
Ans: Mahesh Sir, With a 92.3 percentile in MHT CET, top government institutes such as COEP, VJTI and PICT (AI & DS cutoffs >97 percentile) are out of reach. Realistically, aim for autonomous and private colleges where AI & DS closing cutoffs fall around 90–93 percentile. Target MIT Academy of Engineering, Pune (CSE AI & DS closed at 90.71 percentile), AISSMS Institute of Information Technology, Pune (AI & DS closed at 94.10 percentile – home-state cutoff likely lower), Vishwakarma Institute of Information Technology, Pune (CSE AI ~96 percentile), Dr. D Y Patil Institute of Technology, Pune (AI & DS closing MHT CET rank ~12 829–17 104), and JSPM Narhe Institute of Technology, Pune (AI & DS closing ~3755–6981 rank). Emerging private options include MIT-WPU Pune (AI & DS requires >95 percentile) and Ajeenkya DY Patil University (AI/ML admissions via MHT CET). These institutes offer NBA/NAAC accreditation, PhD-qualified faculty, specialized AI/ML labs, strong industry tie-ups, and 75–90 percent placement consistency over the last three years.

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Bangalore RVCE CSE CYBERSECURITY OR DAIICT ICT OR NAYA RAYAPUR CSE WHICHONE BETTER SIR
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Recommendation: For the highest CSE placement rates and specialized cybersecurity training in a premier Bengaluru institute, recommendation is RVCE CSE-Cybersecurity. To pursue broad ICT expertise with top average packages and a top-3 NIRF ICT rank, choose DA-IICT ICT. For cutting-edge CSE roles with strong AI/ML focus and dual-minor flexibility in a state-funded IIIT, opt for IIIT Naya Raipur CSE. All the BEST for Admission & a Prosperous Future!

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Which is better option CSE in HMR Institute OR IT IN Akhilesh das gupta.
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I have got amrita blr campus eee, 9814 rank in comedk. I might get CSD in DSCE or any other branch through comedk. My hs is WB soni might take admission in cse in techno mains . What should i choose?
Ans: Amrita University Bengaluru’s B.Tech EEE admits via AEEE with closing ranks around 20454 and leverages NAAC A++ accreditation, NBA-approved faculty, dedicated power-electronics and robotics labs, industry tie-ups (Bosch, Siemens), and reports 85–90% placement consistency over the last three years. Dayananda Sagar College of Engineering’s BE CSD (Computer Science & Design) closes at COMEDK ranks of 3436–5261, but at rank 9814 your chances are minimal; DSCE’s CSD benefits from NBA accreditation, modern UI/UX and multimedia labs, and branch placements near 68%. Techno India University Kolkata’s WBJEE closing rank for B.Tech CSE (AI & ML) spans 5966–20190, making your rank of 9814 comfortably eligible; the program offers NAAC A accreditation, specialized AI/ML and data-analytics labs, industry collaborations with Cognizant and TCS, and ~75% placement rates over three years.

recommendation
Given assured admission, strong EEE infrastructure, and higher placement stability, recommendation is Amrita Bengaluru EEE. If you prioritize core CS specialization in design and AI, pursue Techno India Kolkata CSE (AI & ML). Avoid DSCE CSD due to rank constraints. All the BEST for 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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