Home > Career > Question
Need Expert Advice?Our Gurus Can Help
Mayank

Mayank Kumar  |189 Answers  |Ask -

Education Expert - Answered on Apr 10, 2023

Mayank Kumar is the co-founder and managing director of upGrad, a higher EdTech company. With over 10 years of experience in the education sector, Kumar can offer guidance about degree courses, campus, job-linked and executive programmes and studying abroad.An MBA graduate from ISB Hyderabad, he holds a BTech in mechanical engineering from IIT Delhi.... more
Goutam Question by Goutam on Mar 23, 2023Hindi
Listen
Career

I am concerned about my career.lam confused which stream I should take in 11th class?

Ans: Goutam, it's okay to be concerned but you need to be able to ask yourself a few questions on what interests you? What subject areas do you enjoy studying? There are a number of options available today and choosing a stream will help you with some clarity on what could be a potential job opportunity for you in the future.
Career

You may like to see similar questions and answers below

Sushil

Sushil Sukhwani  |297 Answers  |Ask -

Study Abroad Expert - Answered on May 17, 2023

Listen
Career
Sir,i am actually way more confused in which stream to choose after my 12th..iam just interested in too many things..and i just feel like i don't have a proper path to move on..i want to continue my studies after degree abroad..and it's just that i don't know what would be best to choose gor degree.
Ans: Hello Yumi,

To begin with, thank you for contacting us. After completing your 12th grade, selecting a field of study might be difficult, especially if you have a variety of interests. Many others experience similar difficulties, so it's normal to feel perplexed at this point. We completely comprehend, and we want you to know that you are not alone. Following the completion of your degree, consider the following ideas to aid in your decision-making and set you on the right course:

1. Self-reflection: Spend some time thinking about your hobbies, qualities, and long-term objectives. Think about the things that really interest you and where you envision yourself in the future. Consider your favourite skills and the professions that share your interests.

2. Investigate and learn: Investigate several professions that fit your interests. Find more about the educational requirements, employment outlook, and career development options for various professions. Talk to experts in such fields or seek advice from career counselors who can offer insightful analysis.

3. Set your priorities: While having a variety of interests is fantastic, it can be useful to rank them according to your level of excitement and long-term objectives. Think about the professions that give greater opportunity to study abroad or that have better chances to advance globally. Selecting a stream that integrates some of your interests or allows you to study interdisciplinary topics may be advantageous.

4. Seek counsel and direction: Speak to the people who know you best, viz. your parents, professors, and mentors. Talk to them about your goals and concerns. Using their expertise and knowledge, they can provide advice.

5. Take the aptitude: Examine your academic accomplishments and areas for improvement. Study overseas consultants in general are aware of the challenges students experience while choosing a course of study for higher education. An aptitude test and a program called the APP for career guidance is conducted in order to meet these expectations. Evaluate your knowledge, academic standing, and your preferred subjects of study.

6. Examine your possibilities for studying abroad: Consider international schools or institutions that have courses that interest you. Look at their eligibility requirements, financial aid options, and any requirements for international students. Speaking with educational experts who focus on assisting students with their international studies may also be beneficial. We'd be happy to help you if you could provide us with your contact information.

Remember that your degree choice is not final; many people change careers or continue their education in later life. It's important to pick a career path that appeals to you right now and offers a strong basis for your future endeavours. Trust your gut, learn as much as you can, and decide based on what seems right for you.

For more information, you can visit our website.
(more)
Latest Questions
Moneywize

Moneywize   |93 Answers  |Ask -

Financial Planner - Answered on Apr 19, 2024

Asked by Anonymous - Apr 18, 2024Hindi
Listen
Money
My brother purchased a piece of land in Assam in October 1983 which he gifted me by a deed in August 2010. I sold the same piece of land in March 2024. The stamp duty fair price is about Rs 1,40,00,000. Will this transaction attract Capital Gain Tax? How can I myself calculate the LTCG if such a situation presents itself?
Ans: Yes, in this scenario, you will likely incur capital gains tax when you sell the land.

Here's why:

• Gifts are exempt from receiving taxes: When your brother gifted you the land in 2010, you weren't liable to pay any tax on receiving it.
• Tax on sale of gifted property: However, when you sell the property you received as a gift, capital gains tax applies to the profit earned on the sale.

Calculating Long Term Capital Gains (LTCG):

Since your brother purchased the land in 1983 and you sold it in 2024, it qualifies as a long-term capital gain (LTCG) assuming you held the property for more than 2 years.

Here's a simplified formula to estimate the LTCG (consult a tax advisor for the exact calculation):

• LTCG = Sale Price - Indexed Acquisition Cost
• Sale Price: Rs 1,40,00,000 (Given)
• Acquisition Cost: Rs 0 (Gifts typically have an acquisition cost of Rs 0)
• Indexed Acquisition Cost: Acquisition Cost * (Current Year Index / Acquisition Year Index)

Indexation Benefit:

• Indexation helps adjust the acquisition cost for inflation, reducing your tax burden.
• You'll need the official government published ‘Base Year Index’ for 1983 and 2024 to calculate the indexed acquisition cost.

Example (using hypothetical index values):

Let's assume (for calculation purposes only) the base year indices are:

• 1983: 100
• 2024: 630 (This is a hypothetical value, you'll need the actual index for 2024)
• Indexed Acquisition Cost = Rs 0 (Acquisition Cost) * (630 / 100) = Rs 0
• LTCG = Rs 1,40,00,000 (Sale Price) - Rs 0 (Indexed Acquisition Cost) = Rs 1,40,00,000

Tax on LTCG:

LTCG on land is currently taxed at 20% with indexation benefit.

In this example (assuming the above index values), your LTCG tax would be Rs 1,40,00,000 * 20% = Rs 28,00,000

Disclaimer:

This is a simplified explanation for illustration purposes only. Consulting a qualified tax advisor is recommended for accurate tax calculations and to consider any specific aspects of your situation. They can guide you through the intricacies of property tax laws, exemptions, and filing requirements.
(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