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Vipul

Vipul Bhavsar  |141 Answers  |Ask -

Tax Expert - Answered on Sep 06, 2025

Vipul Bhavsar is a chartered accountant from The Institute of Chartered Accountants of India. He has over 16 years of experience in corporate advisory, taxation and financial reporting.
His interest areas are consulting, income tax, GST and due diligence.
He founded his CA firm, V J Bhavsar and Associates, in 2010 through which he offers services like virtual CFO, trademark registrations, company /LLP formation, MIS reporting, audit, tax and TDS compliances, accounts receivable/payable management and payroll processing.... more
Alok Question by Alok on Sep 04, 2025Hindi
Money

Sir, I am planning to gift my son Rs 50 lacs(as part contribution) for purchasing a flat by him. Have 2 questions. Do I have to maintain a record on plain paper about the gift for IT purpose, if needed. Secondly, does my son have to show my gifted amount in his IT return under exempt income section.

Ans: 1. If you are making a gift deed then it is advisable to register it in court.
2. Gifts from father is Exempt and In ITR, under the exempt income, select 'any other' and mention gift from father in description box. It should be disclosed as exempt u/s. 56 in Schedule EI of the ITR.

Vipul Bhavsar
Chartered Accountant
www.capitalca.in
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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I have purchased a flat worth Rs 70 lacs and registered it in my son's name The full amount has been paid from my savings . My son was an NRI at the time of registration and doesn't have income source in India , except maybe Rs 2 lacs in his savings account. I recently came to know that we have to inform , if we purchase any property above Rs 30 Lacs . Will the above transaction cause any Income Tax issues for my son ? I don't not own any other property I have furnished the flat and stay in it whenever I come to Coimbatore I stay in a different apartment in Madurai I don't not plan to rent it out. My reason for buying a property in his name is I am 70 years old and I want to create an asset for him in the future. Is there any submission He or I have to make to I T Dept stating that I have gifted the amount. I am an assessee and file I T Return regularly. My son used to file when he was employed in India . Last 2 years , he is a NRi and doesn't file since he doesn't have any Income . Should I just prepare a Letter for records ,stating I have purchased a Flat in my son's name as A Gift and give details of amount paid by me from my Bank account to the Flat promoter.
Ans: Reporting will be done by the property registrar and not by buyer/seller.

If father give gift to son of substantial amount, it is advisable to execute the gift deed.

As son don't have any income source in India, department may ask source of money and which can be explained by you with proper documentation.

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Hello sir can u tell me best college option at crl 338726 rank with sc category rank as 21726 homestate is maharashtra anything other councelling should I try? With csab and jossa
Ans: Sunil, I just reviewed last year’s JoSAA opening and closing ranks, and it appears that securing admission even in lower-demand branches with your rank will be quite challenging. However, I recommend you also double-check the possibilities yourself.

By the way, have you appeared for the MHT-CET exam? If yes, please share your expected score or rank. Additionally, have you registered or applied for any other entrance exams or colleges? Providing these details will help me give you a more precise and tailored response. ALL the BEST for Your Prosperous Future!

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My daughter completed class 12 from Delhi this year. She secured 42527 rank in JEE Mains and obtained the score of 242 in BITSAT. Record showing that she can secure a position in a dual-degree program at BITS Pilani. Thinking about M.Sc (Mathematics). Other options are NSUT and DTU with EE branch. What will be the best choice and any other option for her.
Ans: Dharmendra Sir, a BITSAT score of 242 is excellent, though her JEE score is somewhat lower in comparison. Regarding branch choice, it’s important to remember that almost all branches can lead to good careers if the student is genuinely interested and passionate, continuously upgrades both technical and non-technical skills, builds a strong network and personal brand, researches job market trends, and joins at least an above-average college with decent placement records.

Your daughter can consider BITS MSc in Mathematics if she has a strong interest in math. BITS placement records show over 70% placement rates in roles like Data Science, Analytics, Quant, and Finance for this program. Additionally, BITS allows MSc Maths students to switch to certain BE programs after the first year, based on meeting criteria such as minimum CGPA—but this is not guaranteed.

My advice is that she should not accept a BE branch she does not like, even if offered via CGPA-based promotion from MSc Maths.

If she prefers Electrical Engineering, then DTU’s EE branch would be a better first choice.

Overall, prioritizing MSc Mathematics at BITS seems to be the recommended path initially. ALL the BEST for Your Daughter's Prosperous Future!

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Sir, I am currently in class 12th and will be going for engineering in the next few months.. I am currently confused between choosing Computer Science Engineering (CSE) and Mechanical Engineering for my career. I have always wanted a good salary and strong career growth, which is why CSE seems attractive. However, during this past year, I studied mostly online, and honestly, sitting in front of screens all day feels very draining to me. I realized that I do not enjoy spending 24/7 with laptops and coding-based work. I am also interested in designing, practical work, and fields where I can be involved in creating and building things, which makes Mechanical Engineering feel appealing. Another concern I have is that in CSE, people often say you must keep constantly learning new technologies, otherwise you may get replaced easily. Also, right now, almost everyone seems to be choosing CSE, which makes me wonder about future competition and job security. At the same time, I worry that Mechanical Engineering may not provide the same salary growth or opportunities as CSE. How should I decide between these two fields? Should I prioritize interest and work style, or salary and market demand? Which option would be better for long-term career satisfaction and financial stability?
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Ans: The percentile you mentioned is for JEE Main, which is used primarily for admission to NITs, IIITs, and GFTIs, not IITs. Admission to IITs is based on JEE Advanced ranks, which are separate. You have not mentioned your grandson's home state also. At your grandson's rank, top NITs/IIITs and popular branches like CSE/ECE are generally unlikely; chances are better in some lower-demand branches in newer/lower-cutoff NITs or IIITs, and especially in several GFTIs. Category-wise cutoff trends published from JoSAA data also show many mid/lower-tier institutes extending much further than top campuses. Apart from your grandson's home state, have other States' NITs/IIITs/GFTIs also as backup options if son is interested in any particular branches. To get detailed information about opening and closing ranks for the last 2-3 years, please visit the official JoSAA website. There, you can input details such as Round Number, Institute Type, Institute Name, Academic Program, and Category to view the corresponding cutoff ranks.

By reviewing this data, you can identify near-realistic institution and branch options that match your rank. This will help you strategically fill the maximum number of choices during the JoSAA counselling window to improve your son's chances of admission. It is advisable to fill choices for both JoSAA and CSAB Special Rounds and keep state-level and private institute options ready as backups. ALL the BEST for Your Son's Prosperous Future!

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My son got 53700 AIR and 16000 in obc category rank in jee mains 2026 we are from Gurgaon what is the best option for.my son
Ans: Poonam Madam, With a CRL of 53,700 and an OBC-NCL rank of 16,000, the most realistic JoSAA option appears to be NIT Kurukshetra under Haryana Home State quota, primarily for lower-demand or newer branches. In 2025, NIT Kurukshetra’s OBC-HS cutoffs closed around: 15,224 for Production & Industrial Engineering, 15,885 for dual-degree Civil Engineering & 17,735 for Sustainable Energy Technologies. Among these, Sustainable Energy Technologies seems the most achievable option, while Civil and Production & Industrial Engineering are borderline. Admission to core or top branches at NIT Kurukshetra and regular-round IIIT Sonipat is unlikely at this rank. However, IIIT Sonipat could become possible during CSAB Special Rounds, where 2025 CRL cutoffs ranged between 61,875 and 67,471. Have other States' NITs/IIITs/GFTIs also as backup options if son is interested in any particular branches. To get detailed information about opening and closing ranks for the last 2-3 years, please visit the official JoSAA website. There, you can input details such as Round Number, Institute Type, Institute Name, Academic Program, and Category to view the corresponding cutoff ranks.

By reviewing this data, you can identify near-realistic institution and branch options that match your rank. This will help you strategically fill the maximum number of choices during the JoSAA counselling window to improve your son's chances of admission. It is advisable to fill choices for both JoSAA and CSAB Special Rounds and keep state-level and private institute options ready as backups. ALL the BEST for Your Son's 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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