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Mutual Funds Expert - Answered on Feb 16, 2023

Nikunj Saraf has more than five years of experience in financial markets and offers advice about mutual funds. He is vice president at Choice Wealth, a financial institution that offers broking, insurance, loans and government advisory services. Saraf, who is a member of the Institute Of Chartered Accountants of India, has a strong base in financial markets and wealth management.... more
Bhavesh Question by Bhavesh on Feb 15, 2023Hindi
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Question regarding Real Estate. - I purchased a property at a document value of Rs.10.00Lacs. - Subsequently the corporation index rates increased (Doubled) within 6 months of my purchase. - Now if I sell my property at the increased index rates, within 2 years of my purchase, - Will I have to book profit for the difference in index rates of purchase & sale. Please Advise

Ans: Hello Bhavesh, please consult your tax advisor for the same
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Mahesh

Mahesh Padmanabhan  | Answer  |Ask -

Tax Expert - Answered on May 20, 2023

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Sir, On 14-June 1994, I acquired a flat (tenement) in my own name for Rs. 2,98L. In April 2015, I had to spend Rs. 4.15L on general renovation of this flat. Now, I plan to sell this tenement and wish to invest its sale proceeds within two years of the sale in buying a ready possession flat in another city. My queries are follows: 1. Can I invest the sale proceeds in buying two flats in the same society of the new city or do I have to necessarily invest in one property only? 2. Can I add the name of my spouse and my son also as co-owners in the new property(s) even if their financial contribution is nil? 3. Can I add the name of my spouse and my son also as co-owners in the new property(s) in case they also partially contribute financially in the purchase of the new flat(s)? 4. What is the present applicable Indexed Cost of the flat planned to be sold by me?
Ans: Hi Thomas
As the base year for Cost Inflation Index (CII) has been reset to 2001, you may need to get a valuation done through an approved valuer to identify the value as on April 1, 2001. If this value is higher than Rs. 2.98 Lakhs then you could use that as the cost.

As regards the general renovation amount spent, it may not be allowed to be added as cost of the property as generally tax officers are not dispensed to allow it.

W.R.T. your decision to reinvest in a ready possession flat within 2 years, please note that if this investment is extending beyond 6 months OR due date for filing your tax returns (whichever is earlier), you would need to open a Capital Gain Account Scheme (CGAS) account with a nationalized bank and park the capital gain amount in it for reinvestment.

Now answering your queries

Query 1 - If the capital gain amount does not exceed Rs. 2 Crores then you could reinvest in 2 residential units. This however is a one time option and cannot be used again in any other year.

Query 2 - Yes you could add their names but they would be treated as name-sake owners and for all purposes of taxation, you would be taxed singly.

Query 3 - You can add their name as proportionate owners to the value of their contribution. The taxation of income in that case would be based on their contribution

Query 4 - The answer to this would depend on the valuation report. Nevertheless, you could derive the indexed cost yourself by multiplying a factor of 3.48 to the cost. An example would be as follows:

Suppose the cost is Rs. 2.98 Lakhs
Indexed cost would be Rs. 2.98 Lakhs x 348 / 100 OR 2.98 Lakhs x 3.48 = Rs. 10.37 Lakhs

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Dayananda Sagar College of Engineering (DSCE) at Kumaraswamy Layout is a NAAC ‘A’-graded, VTU-affiliated institution with NBA-accredited departments. Its ISE programme features specialized Data Structures, AI/ML, IoT, and Cybersecurity labs, a 23-acre research-focused campus, and a well-stocked central library. Student reviews highlight professional faculty, a 90%+ placement rate, robust hackathons, and strong industry tie-ups with top recruiters like Amazon and Cisco. To evaluate any college, consider: statutory approvals (AICTE/VTU), cut-off alignment, placement support, lab/infrastructure quality, and industry partnerships. DSCE satisfies all these criteria.

Recommendation: Given its balanced curriculum, state-of-the-art ISE labs, consistent 90%+ placements and strong corporate outreach, DSCE ISE is a sound choice for hands-on learning and employability assurance. All the BEST for a Prosperous Future!

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Ans: Nandhini, With an EWS home-state rank of 31,868, core CSE/ECE seats under Other-State EWS quotas at premier NITs are largely beyond reach—NIT Calicut’s OS-EWS ECE closed near 600–650 and OS-EWS CSE near 600–1 000, while similar brackets apply at Surathkal, Trichy and Warangal. However, EWS seats under Home-State quotas at low-tier NITs (Nagaland, Manipur, Mizoram, Sikkim, Arunachal) often close above 30,000 for ECE and Electrical, making them attainable. Peripheral IIITs such as IIIT Una, IIIT Kalyani and IIIT Kota report EWS cutoffs for IT/ECE branches in the 20,000–35,000 range, presenting realistic options. Among GFTIs, PEC Chandigarh, PEC Srinagar and MIET Jhansi fill ECE seats up to EWS ranks of ~40,000, while GFTIs like NIELIT Aurangabad and Bhagalpur admit beyond 50,000, ensuring 100% feasibility. These institutes offer AICTE/NIRF accreditation, ≥70% placement consistency, specialized labs, active MoUs for internships and outcome-based curricula. Backup private-college alternatives include Thapar Institute (EWS-friendly CS/EC cutoffs ~25,000), Chandigarh University (>90% ECE placement, cutoffs ~30,000) and Chitkara University (CS/EC cutoffs ~35,000).

Recommendation: Target ECE or Electrical Engineering under EWS at NIT Nagaland and NIT Manipur for secure entry via CSAB Special; consider IIIT Una’s IT and IIIT Kalyani’s ECE branches as secondary HS-EWS options; keep PEC Chandigarh and MIET Jhansi on your list and explore private institutes like Thapar and Chandigarh University for guaranteed core-branch placements. All the BEST for a Prosperous Future!

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Ans: Meghanath Sir, SRM Institute of Science and Technology, Kattulathur campus offers a B.Tech in Computer Science and Engineering with NBA accreditation, an average package of ?7.92 LPA (CSE median ?7 LPA) and a 90–95% placement rate from 853 recruiters including Cognizant, TCS and IBM, supported by modern AI/ML, cybersecurity, networks and data-structures labs and a dedicated placement cell. VIT-AP’s CSE program boasts a 90%+ placement rate, an average package of ?7 LPA and peak offers up to ?44 LPA from over 150 companies such as Amazon, Microsoft and Infosys, delivered through a centralized CDC, specialized cloud-computing labs and interdisciplinary electives in AI, data analytics and cybersecurity. The Indian Statistical Institute’s four-year B.Stat. (Hons.) in Statistical Data Science spans multivariable calculus, probability, machine learning and big-data analytics with hybrid classes across Chennai, Bengaluru and Kolkata, strong research-faculty engagement, supercomputing access and direct pipelines into data-science roles—yet its placement infrastructure is emerging and geared more toward analytics, research and policy roles than core software development. All three meet the five institutional benchmarks of statutory approvals, industry-aligned curricula, advanced labs, faculty–industry MoUs and ≥70% placement consistency. For a pure software engineering pathway, the hands-on coding environment, high recruiter footfall and peak software packages at SRM KTR and VIT-AP provide clearer pipelines. ISI’s B.Stat. equips graduates with deep statistical and ML expertise ideal for specialised analytics or research roles but lacks the extensive software-engineering placements of dedicated CSE programs.

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Hi Sir Good evening, Consultancy has calling for join in JK Lakshmipath University for CSE branch. Please suggest me Sir. In EAMCET Rank 27827 in Top 10 colleges not came CSE branch in First phase.
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JK Lakshmipath University (JKLU), Jaipur offers a four-year B.Tech CSE at ?11.2 L total fees, holds NAAC A grade (CGPA 3.05), NBA accreditation, and reports a median CTC of ?7 LPA with a 76% placement ratio in its last cycle. Its curriculum blends core CS foundations with electives in AI, ML, Cloud, Cybersecurity and capstone projects; access to PARAM supercomputers and semester-abroad exchange.

Recommendation: Target Narasaraopeta Engineering College, SRKR Engineering College and ANITS for guaranteed CSE admission under your rank band, given their state-quota closing ranks above 27 827 and solid accreditation, labs, internships and ≥70% placement consistency; include PACE Institute and Gudlavalleru Engineering College in your web options for additional secure pathways. All the BEST for a Prosperous Future!

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