Freelancer in IT: 44AD or 44ADA for FY 23-24?

Ans: With 97.81 percentile, CRL 34,704 and OBC-NCL rank 9,867, your son has a fair chance in NITs/IIITs, but CSE in top NITs is unlikely. For NIT Andhra Pradesh home-state quota, CSE may be difficult because recent OBC CSE cut-offs are usually much lower, but he may have chances in ECE, Electrical, Mechanical, Civil, Chemical, Biotechnology or Metallurgy, especially in later rounds/CSAB. Good IIIT options your son can try: IIIT Sri City, IIIT Kottayam, IIIT Dharwad, IIIT Kalyani, IIIT Bhagalpur, IIIT Una, IIIT Bhopal, IIIT Nagpur for CSE/ECE/AI-related branches. Additionally, reviewing JoSAA opening and closing ranks from the past 2–3 years will provide valuable insights and help your son confidently select and fill his preferred & maximum number of choices. If possible, have 3-4 backup options of reputed Private Engineering Colleges & State Engineering Counselling. ALL the BEST for Your Son's Prosperous Future!

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Ans: You have not mentioned your son's home state to provide backup options precisely. According to last year's closing rank, it was 4692 for the SC Category candidate. So, CSE Dual Degree is almost impossible even in later rounds. Also fill ECE, Mechanical, Smart Manufacturing, and Design Engineering if interested, but chances at IIITDM Kancheepuram remain low. You can still try through JoSAA. However, it is advisable to have the following backup options: State Counselling, Government/Self-financing engineering Colleges, Private colleges, diploma-to-B.Tech lateral route, and CSAB special rounds for lower-demand GFTIs/IIITs. ALL the BEST for Your Son's Prosperous Future!

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Ans: Preference list in the sense—are you asking about your preferred institution or your preferred branch? You have not mentioned your home state or your gender either. It is advisable to choose the branch you are more interested in or passionate about over the institution. Now, answering your question, please note, with CRL 27,293, top NIT CSE is difficult, but CSE/IT in good IIITs is realistic. Your best JoSAA preference order should be IIIT Sri City CSE, IIIT Sri City AI & Data Science, IIIT Una CSE, IIIT Kottayam CSE or CSE-AI, IIIT Kalyani CSE, IIIT Dharwad CSE, IIIT Bhagalpur CSE, NIT Raipur CSE if home-state applies, NIT Patna CSE-related specialisations, and then ECE/IT branches in NIT Hamirpur, NIT Jalandhar, NIT Silchar, NIT Agartala and NIT Meghalaya. IIIT Sri City CSE and AI branches closed around 24k–25k in recent rounds, so it is a borderline but strong option to keep high in preference. Also participate in CSAB special rounds for better chances. Additionally, reviewing JoSAA opening and closing ranks from the past 2–3 years will provide valuable insights and help your son confidently select and fill his preferred & maximum number of choices. ALL the BEST for Your Prosperous Future!

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Ans: You are thinking in the right direction. Your understanding is practical. Income should grow with time, not stay flat. That is a very important insight.

» Understanding SWP – Amount vs Units

SWP in fixed amount means you withdraw same Rs value every month
SWP in units means you redeem a fixed number of units

Reality:

Mutual fund platforms mainly allow SWP in amount, not in units
So unit-based SWP is not a standard option

» Challenge with Fixed Amount SWP

Your expenses will increase due to inflation
But SWP amount remains constant unless you change it

Result:

Your real income reduces over time
Purchasing power goes down

» Why SWP in Units is Not Ideal Anyway
Even if it was available:

Market goes up → you withdraw more money than needed
Market goes down → you withdraw less money when you need more

So income becomes unpredictable
This is not suitable for regular expenses

» Better Approach – Step-up SWP Strategy
Instead of units, follow this:

Start SWP with a comfortable amount
Increase SWP every year by 5% to 7%
This matches inflation and lifestyle increase

Example approach:

Year 1: Rs X per month
Year 2: Rs X + 5%
Year 3: Rs X + 5%

This gives:

Stability
Growth in income
Better control

» Bucket Strategy – More Stability
Divide your corpus into 3 parts:

Short-term (0–3 years expenses)
Keep in low-risk or liquid funds
Use this for SWP
Medium-term (3–7 years)
Balanced funds
Long-term (7+ years)
Equity funds

How it helps:

You don’t depend on market timing
You avoid selling equity in bad markets
Your income becomes stable

» Practical Execution

Run SWP only from short-term bucket
Refill this bucket once a year from other buckets
Review SWP amount annually and increase

» Tax Efficiency Insight

SWP is tax-efficient
Only capital gain portion is taxed
Long-term equity gains above Rs 1.25 lakh taxed at 12.5%
So gradual withdrawal is better than lump sum

» Finally

SWP in units is not required and not practical
Fixed SWP with annual increase is the right method
Use bucket strategy to protect income
Review once a year, not too frequently

This way, your income will grow, remain stable, and last longer.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

https://www.linkedin.com/in/ramalingamcfp/

Ans: With an 82.5 percentile and a CRL of 2,76,500, admission into regular B.Tech core branches at J.C. Bose University, Faridabad, through Haryana counselling looks very unlikely. Recent cutoffs are much better than your son’s rank. In 2025, general?category closing ranks were roughly 38,277–1,58,218, and even core branches like Electrical, Mechanical, and Civil/Environmental closed much before 2.76 lakh. In 2024, trends in the Haryana/open category show Electrical around 84,306, Mechanical around 70,000–1,00,000, and Civil around 1,25,309.

So, consider J.C. Bose only as a low?chance or spot?round option. Better backups include lower?ranked government or affiliated colleges under HSTES, Private Colleges in and around Haryana & other State?Counseling options for your son's desired branches. ALL the BEST for Your Son's Prosperous Future!

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Ans: Krishnendu, the maximum closing rank of IIIT-Kalyani for SC Category in 2025 was 10601. You can still try through JoSAA/CSAB. It is advisable to have the following backup options: Backups: IIIT Bhagalpur, IIIT Manipur, IIIT Agartala, IIIT Ranchi, GFTIs, State Counselling, and good private colleges. ALL the BEST for Your Prosperous Future!

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Ans: HI LULWA,
GREETINGS FROM THE REDIFFGURUS!

Yes, being from Kerala, gaining admission to NIT Calicut is possible in core branches such as Mechanical, Chemical, Civil, Biotechnology, and Material Science.

In mid-tier institutes, you may secure a seat in Civil, Metallurgical, or Mining Engineering in the later rounds or during CSAB counseling (which happens in Rourkela), as well as in Nagpur for Mechanical and Electrical Engineering, and in Jaipur for Chemical or Civil Engineering.

In lower-tier or newer institutes, there are opportunities for Electrical or EEE programs, and at NIT Meghalaya, Sikkim, or Arunachal Pradesh, there are good chances for CSE or ECE.

Make sure to actively participate in the counseling process to achieve your target.

BEST WISHES.

Ans: HI MUKUL,
GREETINGS FROM THE REDIFFGURUS!
It is quite challenging to secure top branches, and your rank makes you eligible for lower-tier core branches such as Mechanical, Civil, Chemical, or Production at DTU/NSUT, or potentially Electrical in the lower rounds.

ALL THE VERY BEST.

Ans: HI MUKU,
GREETINGS FROM THE REDIFFGURUS!
It is quite challenging to secure top branches, and your rank makes you eligible for lower-tier core branches such as Mechanical, Civil, Chemical, or Production at DTU/NSUT, or potentially Electrical in the lower rounds.

ALL THE VERY BEST.