Dear Mr.Anil, My mother sold her old house and against it purchased two plots wherein she added me as joint owner (all transactions are from her saving account). Now i have following two questions: 1. Under which ITR form and which head in ITR she has to declare /report following 4 things: sales proceeds, long term capital gain, capital gain tax paid and declare purchase value of plots.( So far, I file her ITR on her behalf every year under Form1 -Sahaj). 2. Do i need to also declare /report purchase of plots while filing ITR ,since she made me co-owner and under what head (I file under form2 as have share investements). Kindly guide ?

Ans: Yes, your son can prepare for both CLAT and IPM exams simultaneously, especially given his ICSE score. With a 96% score, he has a strong chance of success in both exams. CLAT and IPM share some common ground, which could make preparation more manageable.
Preparation for both CLAT and IPM:
CLAT:
CLAT requires a strong foundation in English comprehension, logical reasoning, quantitative reasoning, and legal reasoning. IPM exams also test similar skills.
IPM:
IPM exams focus on quantitative ability, analytical reasoning, and verbal reasoning. CLAT also assesses these skills.
Overlap:
The core skills tested in both exams, such as quantitative reasoning, verbal reasoning, and logical reasoning, provide common ground for preparation. Your son's coaching for IPM can help him develop a solid foundation in these areas.
Legal Reasoning:
CLAT specifically requires legal reasoning, which is not part of IPM. Your son can focus on preparing for this section separately.
Scheduling:
Balancing preparation for both exams requires careful planning. He can allocate specific time slots for each exam's preparation.
Chances of Clearing Both:
IPM:
With a 96% ICSE score, your son has a strong chance of clearing IPM exams. His high marks indicate a strong aptitude for quantitative reasoning and problem-solving.
CLAT:
CLAT is a highly competitive exam, but with his current scores, your son has a very good chance of clearing CLAT.
Factors affecting success:
Preparation efforts, effective time management, and consistency in studying will play a crucial role in determining success in both exams.
Tips for Preparation:
Structured Approach:
A structured study plan that includes regular practice, mock tests, and detailed analysis of mistakes will be beneficial.
Mock Tests:
Regular mock tests for both CLAT and IPM will help him assess his progress and identify areas for improvement.
Time Management:
Developing effective time management skills is crucial for balancing preparation for both exams.
Focus on Fundamentals:
Ensure he has a strong foundation in the core subjects of both exams.
Practice:
He should solve a variety of questions and practice problems to build confidence and improve his speed and accuracy.
Best of luck. Professor