Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Tejas

Tejas Chokshi  |126 Answers  |Ask -

Tax Expert - Answered on Aug 29, 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
nagarajan Question by nagarajan on Aug 28, 2023Hindi
Listen
Money

SIR, I HAVE RETIRED FROM SERVICES AND THERE IS NO INCOME BUT I RECEIVED AMOUNTS FROM POMIS, INTEREST FROM FD AND DIVIDEND FROM SHARES AND IT WORKS OUT TO MORE THAN RS. 50000 PER YEAR. WHETHER I HAVE TO PAY TAX AS THERE IS NO INCOME. PL SUGGEST. THANKS

Ans: Considering that you have retired and you're receiving income from POMIS, FD interest, and dividends, it's important to assess whether the total of these incomes exceeds the basic exemption limit for income tax. the basic exemption limit for individuals below the age of 60 was Rs. 2.5 lakh per financial year.

If the total of your interest income and dividend income exceeds the basic exemption limit, you may be required to file an income tax return. Even though you don't have active salary income, your other sources of income could still make you liable to pay tax.
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.
Money

You may like to see similar questions and answers below

Latest Questions
Shekhar

Shekhar Kumar  |91 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Listen
Career
Sir, i 'm currently doing b. Sc in biotechnology NEP from University of jammu ... What can i do after this course after getting b. Sc degree... What 're its career options? ... Tell about this co
Ans: Completing a B.Sc. in biotechnology offers a range of career options in various sectors. You can work in research laboratories, biotech companies, or academic institutions conducting research in areas such as genetic engineering, molecular biology, microbiology, or pharmaceuticals. Roles may include research assistant, laboratory technician, or scientist, where you contribute to the development of new biotech products, processes, or therapies. The biopharmaceutical sector offers opportunities in drug discovery, development, manufacturing, and regulatory affairs. You can work for biopharmaceutical companies involved in developing biologics, vaccines, gene therapies, or personalized medicine. Bioprocess engineers are involved in designing and optimizing processes for the production of biopharmaceuticals, biofuels, enzymes, or other biotech products. Roles may include process engineer, manufacturing specialist, or quality control analyst, where you ensure the efficiency, safety, and quality of bioprocess operations. You can work in medical research institutions, hospitals, or clinical research organizations (CROs) conducting clinical trials, genetic testing, or epidemiological studies. Roles may include clinical research coordinator, data analyst, or research scientist, where you contribute to medical advancements and evidence-based healthcare practices. Agricultural biotechnology offers opportunities in crop improvement, plant genetics, and sustainable agriculture. You can work for agricultural research organizations, seed companies, or agribusinesses developing genetically modified crops, biopesticides, or biostimulants to enhance crop productivity and resilience. Environmental biotechnology focuses on using biological processes to address environmental challenges such as pollution, waste management, and sustainability. You can work for environmental consulting firms, government agencies, or environmental organizations developing solutions for water treatment, bioremediation, or renewable energy production. Bioinformatics involves the use of computer algorithms and databases to analyze biological data, such as DNA sequences, protein structures, or gene expression patterns. You can work for biotech companies, pharmaceutical firms, or academic research institutions developing bioinformatics tools, conducting genomic analysis, or modeling biological systems.

These are just a few examples of the diverse career paths available to graduates with a B.Sc. in biotechnology. Depending on your interests, skills, and career goals, you may choose to pursue further education, such as a master's degree or specialized certifications, to enhance your expertise and expand your career opportunities in the biotech industry. Additionally, gaining hands-on experience through internships, research projects, or industry collaborations can be valuable for transitioning into your desired career path after completing your degree.
(more)
Shekhar

Shekhar Kumar  |91 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi
Listen
Career
Which job has high demand in foreign countries(other than India)? Job other than medical and engineering?
Ans: Several jobs are in high demand in foreign countries, beyond the fields of medicine and engineering. Finance professionals, such as accountants, financial analysts, investment bankers, and auditors, are sought after in various countries. Sales and marketing professionals with skills in digital marketing, social media management, market research, and customer relationship management are highly valued. Hospitality professionals, including hotel managers, event planners, tourism coordinators, and travel agents, are in demand in countries with thriving tourism industries. Qualified educators, including teachers, professors, language instructors, and educational consultants, are needed in schools, colleges, language institutes, and international education programs. Skilled tradespeople, such as electricians, plumbers, carpenters, welders, and HVAC technicians, are essential for construction, infrastructure development, and maintenance projects. Environmental scientists, sustainability consultants, renewable energy technicians, and conservation specialists are increasingly in demand as organizations seek to address environmental challenges and implement sustainable practices. 

These are just a few examples of jobs that are in high demand in foreign countries, offering opportunities for individuals with diverse skills and backgrounds. It's essential to research specific industries, countries, and job markets to identify where your skills and interests align with available opportunities and to consider factors such as language proficiency, cultural adaptability, and immigration regulations when pursuing international employment opportunities.
(more)
Shekhar

Shekhar Kumar  |91 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi
Listen
Career
I want to work in cosmetic industry. Is it better to do major in chemistry or do chemical engineering? Which has high scope? Also is their any scope in chemical engineering in upcoming years? And how is the pay like? Other than chemical engineering wh8ch has highest demand and salary?
Ans: Both chemistry and chemical engineering can offer pathways into the cosmetic industry, but they involve different focuses and skill sets. Chemistry majors typically focus on understanding the fundamental principles of chemistry, including chemical reactions, molecular structures, and the properties of substances. If you have a strong interest in studying the composition, behavior, and interactions of molecules, a major in chemistry may be a good fit for you. Chemical engineering majors, on the other hand, apply principles of chemistry, physics, and engineering to design and optimize processes for the production of chemicals, materials, and consumer products. If you're interested in applying scientific principles to solve real-world problems and develop new products or processes, chemical engineering may be more suitable. Chemistry majors may pursue careers in various industries, including pharmaceuticals, biotechnology, cosmetics, materials science, environmental science, and academia. Potential roles for chemistry majors include research scientists, laboratory technicians, quality control analysts, and regulatory specialists. Chemical engineering majors have opportunities in industries such as petrochemicals, polymers, pharmaceuticals, food processing, energy, environmental engineering, and consumer products. Chemical engineers may work in roles such as process engineers, manufacturing engineers, project managers, and consultants. Both chemistry and chemical engineering offer competitive salary potential and job prospects, but the specific opportunities may vary depending on factors such as industry demand, location, experience, and specialization. The job market for chemistry and chemical engineering may fluctuate based on economic conditions, industry trends, and technological advancements, but salaries for chemical engineering professionals are better than those for chemical majors in the cosmetic industry. In addition to chemistry and chemical engineering, there are several other fields of study that can provide pathways into the cosmetic industry, which include biology or biochemistry, pharmacy or pharmacology, materials science or engineering, biotechnology, dermatology and dermatological sciences, marketing and consumer science, and environmental science and sustainability. These are just a few examples of fields of study that can lead to careers in the cosmetic industry.

Ultimately, the best choice for you depends on your personal interests, strengths, and career aspirations. Consider researching each major, exploring potential career paths, and speaking with professionals in the field to gain insights into the opportunities available and make an informed decision that aligns with your goals.
(more)
Shekhar

Shekhar Kumar  |91 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Listen
Career
I worked for a private PMC company with appointment letter later after four months they were unable to pay salary and assured us by mails and what's up messages that, they are having some financial problems and requested to continue and pending salaries would be released soon and later stopped taking calls, We have resigned but they have not settled our account and now again become active. What action can be taken.
Ans: It's unfortunate that you're facing this situation with your former employer. Gather all relevant documentation related to your employment, including your appointment letter, emails, WhatsApp messages, and any other communication regarding salary payments and promises made by the company. Having a record of these interactions will be crucial for any potential legal action. Reach out to the company via email or written correspondence to remind them of the outstanding salary payments and request immediate settlement of your dues. Clearly outline the amount owed, the period for which you worked without compensation, and any promises or assurances made by the company regarding payment. If the company fails to respond or refuses to settle your dues, consider seeking legal advice from a labor lawyer or legal aid organization. They can assess your situation, advise you on your rights and options, and help you take appropriate legal action to recover your unpaid wages. Depending on the jurisdiction and labor laws in your area, you may have the option to file a formal complaint or grievance with the relevant labor department or regulatory authority. Provide them with all relevant documentation and information about your case, and they may investigate the matter and take action against the company if warranted. If you see other employees are also affected by unpaid wages or mistreatment by the company, then consider organizing collectively to amplify your voices and increase pressure on the company to resolve the issue. This could involve forming a group, sharing information and resources, and coordinating efforts to seek redress through legal channels or public advocacy. Throughout this process, it's important to protect your rights and avoid taking any actions that could jeopardize your legal standing or future claims against the company. Keep records of all communications, consult with legal experts, and be prepared to assert your rights if necessary. Stay informed about any developments related to the company, including changes in ownership, financial status, or legal proceedings. This information may affect your ability to recover unpaid wages or seek other forms of recourse.

Remember that recovering unpaid wages can be a complex and challenging process, but by taking proactive steps, seeking appropriate guidance, and advocating for your rights, you can increase your chances of obtaining a favorable outcome.
(more)
Shekhar

Shekhar Kumar  |91 Answers  |Ask -

Leadership, HR Expert - Answered on Apr 29, 2024

Asked by Anonymous - Apr 27, 2024Hindi
Listen
Career
It's been a year since I completed my engineering in mechanical engineering. I am currently unemployed. I keep sending resume through LinkedIn, indeed, monster. I only get rejection replies. I have lost confidence in everything. What i specialised and has more interest is mechanical design and simulation, but majority companies prefer experienced candidates. For my other plans to work out i initially needed a job for money as well as for experience. It's very depressing and i am kind of letting go my dreams. I feel I am very incapable of even find a job after a course. What difference do I make with those who took a year off to clear remaining arrears.
Ans: It's understandable to feel frustrated and discouraged when facing challenges in your job search, especially when you're passionate about a specific field like mechanical design and simulation. However, it's essential to remember that setbacks are a natural part of the job search process, and they don't define your worth or capabilities. While gaining work experience may seem challenging at the moment, you can focus on enhancing your skills and knowledge in mechanical design and simulation. Consider enrolling in online courses, workshops, or certification programs related to CAD software, finite element analysis (FEA), computational fluid dynamics (CFD), or other relevant areas. Reach out to professionals working in mechanical design and simulation roles through LinkedIn or industry events. Request informational interviews to learn about their career paths, experiences, and insights into the industry. Building relationships with professionals in your field can lead to job opportunities, mentorship, and valuable advice for your career. Look for internships, co-op programs, or entry-level positions that offer opportunities to gain hands-on experience in mechanical design and simulation. While these roles may not always be advertised, reaching out to companies directly or through your network can help you uncover hidden opportunities and demonstrate your enthusiasm and commitment to the field.

Remember that finding a job after completing your engineering degree is a process that takes time and persistence. Stay committed to your aspirations, continue investing in your skills and knowledge, and remain open to new opportunities that come your way. With determination and perseverance, you can overcome obstacles and find success in your chosen field.
(more)
Moneywize

Moneywize   |98 Answers  |Ask -

Financial Planner - Answered on Apr 28, 2024

Asked by Anonymous - Apr 27, 2024Hindi
Listen
Money
I want to purchase auto insurance for my Maruti Ertiga which I purchased two years ago. Which auto insurance policy will best look after my interests in the event of an accident which could lead to fatalities or lead me permanently disabled? I want to choose an auto insurance policy that will take care of hospitalisation as well as permanent disability.
Ans: In the unfortunate event of an accident with your Maruti Ertiga, a comprehensive car insurance policy will best serve your interests. Here's why:

Comprehensive Coverage:

• Third-party Liability: This is mandatory by law and covers any injuries or property damage caused to a third party due to an accident involving your car.
• Own Damage Cover: This protects your Maruti Ertiga from damages caused by accidents, theft, fire, natural calamities, etc.

Additional Coverage for Permanent Disability and Hospitalisation:

• Personal Accident (PA) Cover for Owner-Driver and Passengers: This add-on provides a lump sum payout in case of death or permanent disability due to an accident. You can extend this cover to include your passengers as well.
• Medical Expenses Cover: This add-on reimburses hospitalisation expenses incurred due to injuries sustained in an accident.

Here's what to consider when choosing an insurance provider:

• Claim Settlement Ratio (CSR): Look for insurers with a high CSR, which indicates a good record of settling claims promptly.
• Network Garages: Opt for an insurer with a wide network of cashless garages for repairs to ensure a hassle-free experience.
• Customer Service: Choose a company known for providing prompt and helpful customer service.

Popular Car Insurance Providers in India:

• Acko General Insurance
• HDFC Ergo
• The Oriental Insurance Company
• National Insurance Company
• Bajaj Allianz General Insurance

Researching and Comparing Policies

• Use online insurance aggregator websites to compare quotes from different providers. These websites allow you to input details about your Maruti Ertiga, your driving history, and desired coverage options. They will then provide you with quotes from various insurers, allowing you to compare prices and features.

Consulting a Financial Advisor

• Consider consulting a financial advisor who can help you assess your specific needs and recommend the most suitable car insurance policy for your Maruti Ertiga.
(more)
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.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x