My wife selled her house for rs 15 lac in this yr . She never filed income tax return. Can it necessary to file IT return?

Ans: As per income tax provisions, a person who contributes money for the acquisition of money; will be considered as owner of property and required to deduct TDS at the time of payment of consideration to the seller.

Ans: It is difficult to predict the exact corpus amount you will accumulate by 2034 due to the following reasons:

• Market Fluctuations: Equity mutual funds invest in stocks, and the stock market fluctuates over time. This means that the actual returns you will get can be higher or lower than the estimated range of 8-12%.
• Fund Performance: The performance of each mutual fund you have chosen can vary. Some funds may outperform the average market return, while others may underperform.

However, I can provide you with an estimated range of corpus amounts based on your SIP amount, investment period, and expected return rate. Here's how you can calculate it:

SIP Calculator: You can use an SIP calculator available online or provided by your mutual fund provider. These calculators take into account your monthly investment amount, investment tenure, and expected return rate to estimate the maturity amount.

Manual Calculation (Simplified):

• Total Investment: Multiply your monthly SIP amount (Rs 75,000) by the number of months you will invest (10 years * 12 months/year) = Rs 9,000,000
• CAGR (Compound Annual Growth Rate): This is the average annual return you expect on your investment. Since you expect a range of 8-12%, consider different CAGRs within this range (e.g., 8%, 10%, 12%)
• Future Value Formula: Use the Future Value (FV) formula to calculate the estimated corpus amount for each CAGR. You can find the FV formula online or in finance textbooks.

Example:

Let's say you calculate the future value for a CAGR of 10% using the FV formula:

FV = P * [(1 + r)^n - 1 ] / r

Where:

• FV = Future Value
• P = Monthly Investment (Rs 75,000) * Investment Tenure (120 months) = Rs 9,000,000
• r = Expected Return Rate (as a decimal) = 10% / 100 = 0.1
• n = Number of compounding periods (monthly in this case) = 120 months

Estimated Corpus with 10% CAGR:

FV = Rs 9,000,000 * [(1 + 0.1)^120 - 1 ] / 0.1 ≈ Rs 69,531,106

Repeat the FV calculation for other CAGR values (8% and 12%) to get a range of possible corpus amounts.

Important Note: These are just estimates, and the actual corpus amount you will get may be different.

Here are some additional points to consider:

• Diversification: You have chosen a good mix of funds across different categories (large-cap, mid-cap, flexi-cap, and sectoral). This helps diversify your investment and potentially reduce risk.
• Review your SIPs: Periodically review the performance of your mutual funds and adjust your SIP allocation if necessary.

I hope this helps!

Ans: Possible. You can substantiate your work experience with some degrees. XLRI has part time / correspondence courses where you need to go to college just once in 6 months or a year. XLRI is also known to be a college best for HR. They also have 1 year full time Executive MBA program called GM which you can do if you have 5+ years of work experience. Can look at these options for enhancing your qualification.

Ans: Depends on what kind of job you get. Your first job matters. Your future growth would depend on the kind of work experience in the 1st job and your performance. Usually MA in Financial Economics is not considered as MBA.

Ans: Yes can shift your career. Can look at both CFA as well as MBA. A lot of students do both. I had a student who was a successful trader last year and who is currently studying in 1st year of IIM L. Similarly I have a student currently who is also a successful trader and who has got call from top IIMs and waiting for results.

Ans: Ideally do both. Preparing for aptitude exam is not a full time requirement. If you study regularly for 3 hours daily it should suffice. Simultaneously you can look out for an IT Job. Till you get a job you can put in extra hours for preparation.

Ans: I do record videos on how to prepare for CAT in my YouTube channel Patrick100. You can refer to that. Ideal steps to start preparing for CAT is to first write a Mock CAT to understand the pattern of the paper. Link for a free mock CAT : https://prep.patrick100.com/TestCentre/full-length--tests/cat
Next talk to students who have written CAT and get guidance from them in terms of how to prepare what mistakes to avoid, etc.
Third make a written plan as to how you plan to prepare for the CAT syllabus.
Fourth start with your preparation.

Ans: Absolutely! Your daughter's combination of skills in math, science, and arts opens up a wide range of career options that allow her to explore her diverse interests. Some of the most promising jobs that combine these interests are Augmented Reality (AR) Designer, Digital Sculptor Associate, Artificial Intelligence (AI) and Data Visualization Engineer, Architect, Industrial Design Engineer, Graphic Designer, Animation and Visual Effects Specialist, Medical Illustration Associate, Urban Planning Associate, Science Illustration Expert, Environmental Design Engineer, Game Designer, and Biomedical Illustrator. Best of luck! Feel free to contact me on Rediff Gurus if you require additional guidance or assistance.

Ans: Thank you for reaching out to me on Rediff Gurus. No need to apologize for sharing your story—it help to provide context for understanding your situation better to me. I appreciate that you've pursued your passions and acquired diverse skills in both editing and coding. Now you should start exploring opportunities for hybrid roles that combine your skills in editing and coding such as technical writing, content management, or user experience design that also leverage both your editing and coding skills. You can try to get hands-on experience through freelance projects, or part-time work in both editing and coding which will give you valuable insights into each field and help you determine which path aligns best with your career aspirations. Wishing you all the best on this exciting new path, and please don't hesitate to reach me on Rediff Gurus if you need further guidance or support.