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Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on Feb 03, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more

Question by Vinod on Jan 22, 2024Hindi

Money

Income received from sale of property can be utilized for son's foreign education and tax implications if any.

Ans: You need to keep two things in mind -

1. Appropriate taxes need to be paid on sale of property depending upon short term / long term capital gains and
2. Upon remittance of such income (after taxes), there will be a deduction of 5% as tax collected at source (if remittances are more than INR 7 lacs), which will be refundable upon filing your tax return. This 5% is just an additional cash flow requirement that you need to be mindful of.

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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Can the LTCG earned by father by sell of a house property be invested in house construction of his son and get tax exemption on LTCG

Ans: No

Person who earn capital gain is required to invest gain amount in another property to claim tax exemption within prescribed time limit.

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Question by Rajesh - Sep 28, 2023Hindi

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My son is now living in USA since 2018( 2 yrs as student & 3 yrs working). If he sends money from USA to his mother who is housewife and she invests in FDs or residential property then any income or gains from those investments are taxable to her or mine? I am not working, and at present me & my wife have only income from interest or dividends from shares or mutual funds.

Ans: Income earned from amount invested out of gift received from son will not be clubbed. Accordingly, it will be taxable in the hands of recipient i.e. mother.

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Question by K - Jan 18, 2024Hindi

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How to save tax for the money earned from sale of house property besides bonds and reinvesting in house property? Can I gift the entire money to my son with both of us escaping income tax?

Ans: Options to save tax on sale of house property are limited, as rightly highlighted by you. Further, the reinvestment limit is restricted to INR 10 crs.

Unfortunately, gifting the money to your son will not help.

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MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 23, 2025

Asked by Anonymous - Feb 23, 2025Hindi

Career

I got 96.95 percentile in JEE Mains as being general EWS boy and wishing for CSE branch AI or data science specialisation can I get seat in any NITs? Please help me with this... Thank you

Ans: Hello dear.
With a score of 96.95 %tile and EWS category, it will be challenging to get CSE/AI/DS in NITs. But keep a close eye on the admission process and fill the options with utmost care. At this percentile, you may get sure admission in IIITs. Pl focus more on 2nd attempt of JEE so that you can improve your score and get admission to CSE @ NIT.

If you like the reply, then follow me else ask again without hesitation.
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Question by Indrajit - Feb 22, 2025Hindi

Career

My daughter scored 96.3 percentile in JEE Main from Delhi. Which are the best option for CSE in Delhi or elsewhere?

Ans: Indrajit Sir, Your daughter can participate in JAC-Delhi Counselling Process. You can estimate your daughter's approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for Computer Science Engineering (CSE) in each NIT. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Daughter's Prosperous Future.

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Asked by Anonymous - Feb 22, 2025Hindi

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Hi, my daughter has got 95.37 percentile in jee mains-2025. Can she get any good college olin delhi or any NIT. She wants to do electronics and telecommunication. Thanks

Ans: Chances are more she will get E&T for 95.37 percentile. She can also participate in JAC-Delhi Counselling Process. You can estimate your daughter's approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for E&T in each NIT. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Prosperous Future.

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Asked by Anonymous - Feb 22, 2025Hindi

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Hi My son get 72 percentile in jee mains 1 i we are SC category.Is there any chance to get admission in NIT DURGAPUR or somewhere else? Will he be eligible to seat for JEE ADV? Should he seat for it?

Ans: Whether your son will be eligible for JEE Advanced depends upon his Score in JEE Main and also the CUT OFF decided by JEE Advanced Organizing IIT. As far as admission into NIT-Durgapur, you can estimate your son's approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for NIT-Durgapur. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Son Prosperous Future.

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Question by Sathya - Feb 22, 2025Hindi

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Hello Sir. My daughter got 84.2 percentile in jee mains 2025 . She is in general category. Can she get a seat in IIIT?

Ans: You can estimate your daughter's approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for admission into any one of the IIITs. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Daughter's Prosperous Future.

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Question by Peeta - Feb 23, 2025Hindi

Career

My son got 99.568 percentile in jee mains -2025 first season.we belongs to OBC -NCL.Please suggest best NITs with CSE branch

Ans: Peeta, you can estimate your approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for Computer Science Engineering (CSE) in each NIT. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Prosperous Future.

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Question by simila001 - Feb 23, 2025Hindi

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My son secured 99.14 percentile in JEE mains.Ehatbare his options to get into tier 1 NITs

Ans: You can estimate your approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for Computer Science Engineering (CSE) in each NIT. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Prosperous Future.

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Question by Gayathri - Feb 21, 2025Hindi

Career

Sir, I got 94.67 percentile in Jee mains general category .What are the CSE options available ?

Ans: Gayathri, you can estimate your approximate rank using a formula available on Google. Additionally, visit the JoSAA website to find out the approximate opening and closing ranks of 2024 required for Computer Science Engineering (CSE) in each NIT. It's also a good idea to have backup plans – consider appearing for 2-3 more engineering entrance exams to broaden your options. All the Best for your Prosperous Future.

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

Radheshyam Zanwar |1246 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 23, 2025

Asked by Anonymous - Feb 23, 2025Hindi

Career

CaN you list the nit in order for selection to cse group. Is trichi not in top list

Ans: Hello dear.
It would be an injustice for the brand NIT to list them in descending order. Yet some people try to order. Here is the order of NIT for the CSE branch:
(1) NIT Tiruchirappalli (NIT Trichy) (2) NIT Karnataka, Surathkal (3) NIT Rourkela (4) NIT Warangal (5) NIT Calicut (6) NIT Jaipur (7) NIT Silchar (8) NIT Nagpur (9) NIT Durgapur (10) NIT Jalandhar

If you are satisfied with the reply, please follow me or ask again without hesitation.
Thanks
Radheshyam

Radheshyam Zanwar |1246 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Feb 23, 2025

Asked by Anonymous - Feb 22, 2025Hindi

Career

Sir I got 97.148 %ile and I am from OBC NCL category can i get a decent branch in any tier 1 NITs

Ans: Hello dear.
With a score of 97.148 %tile and OBC-NCL category, chances are there to get admission to one of the NITs but low chances to get into tier 1 NITs.

If you are satisfied with the reply, please follow me or ask again without hesitation.
Thanks
Radheshyam

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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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