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Mihir

Mihir Tanna  |1064 Answers  |Ask -

Tax Expert - Answered on Mar 01, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Sumit Question by Sumit on Feb 24, 2023Hindi
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Dear Sir, My mother is a tenant under the old "Pagdi" system of one building which is no longer standing . Now if and when this building gets redeveloped , my mother plans to sell her Tenancy rights to the Developer at the then prevailing rates instead of a apartment in the new building. My question is : in that case the amount she receives from the Developer will get taxed as Capital Gains or the normal Income tax slab rates? Thanks in advance, sir. Sumit Ganguly

Ans: Tenancy right is a capital asset and gain earned on transfer of capital asset is usually chargeable under head Income from capital gain.
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.
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Tejas

Tejas Chokshi  | Answer  |Ask -

Tax Expert - Answered on Aug 07, 2023

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Sir, during this month (August2023) I sold my flat which was purchased by me in 2010. The total sale consideration as per govt guidelines was Rs 5973000/ and was registered at that amount, accordingly TDS at 1% on it was deducted at Rs 59730 and was credited to the govt account. My query is , TDS on sale of property at 1% is applicable in case the amount of sale exceeds Rs 50.00 lakhs . Whether the TDS is applicable on full sale consideration or on the difference amount ie, (5973000-500000)Rs 973000. 2. I had purchased the flat in April 2010 and the purchase price was Rs 3150000/ including Stamp duty, Registration charges and small amount towards interior work. I request you to advise me the applicability of Capital Gain Tax on it. Now I do not want to invest in any new property or in Capital gain bonds, I want to pay the applicable tax and close the transaction. Please advise me about the applicable Tax and close the formalities applicable in this regard. Siddramappa Kudarimoti.
Ans: The TDS (Tax Deducted at Source) of 1% on the sale of property exceeding Rs 50 lakhs is applicable on the full sale consideration. In your case, since the total sale consideration was Rs 5,973,000, the TDS of Rs 59,730 was deducted as per the guidelines. Based on the information you've provided, you might be liable for Capital Gains Tax. Capital Gains Tax is calculated based on the difference between the selling price and the indexed purchase price. The indexed purchase price adjusts the original purchase price for inflation over the holding period.
The tax on long-term capital gains is usually 20% (plus applicable surcharge and cess) after considering any exemptions or deductions available under Section 54 or Section 54F if you are not investing in another property or capital gains bonds.

To close the transaction and fulfill your tax obligations, you should consider the following steps:

a. Calculate Capital Gains: As explained above, calculate the capital gains based on the indexed purchase price and selling price.

b. Pay Capital Gains Tax: If you decide not to invest in another property or capital gains bonds, you will need to pay the applicable capital gains tax. You can do this by filling out the appropriate sections in your income tax return and paying the tax amount.

c. File Income Tax Return: Ensure that you accurately report the capital gains in your income tax return for the assessment year.

d. Keep Documentation: Maintain all relevant documents related to the property sale, purchase, and tax calculations for future reference

..Read more

Ramalingam

Ramalingam Kalirajan  |9317 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

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Dear Sir/Madam My mother is pension holder and senior citizen. My father passed away. Her land was given to developer and in return she got ownership of some flats in the same building. Now she is selling those flats to third party. Is the amount got through this selling will be treated as income. She did not open capital gain account. The amount is transferred to savings account. Please advise. Regards
Ans: Here's a breakdown of the tax implications for your mother's situation:

Sale of Flats:

The sale proceeds from selling the flats will likely be considered a capital gain. Since she received these flats in exchange for her land, the cost price for calculating the capital gain will be the cost of the original land.
Tax Treatment:

Long-Term Capital Gains (LTCG): If your mother held the flats for more than 2 years before selling, the capital gains will be considered LTCG. For senior citizens (over 60 years), LTCG from the sale of any type of capital asset (including land or buildings) is exempt from tax.

Short-Term Capital Gains (STCG): If she held the flats for 2 years or less, the gains will be considered STCG. However, there's no separate capital gains account required for seniors.

Exemption for Senior Citizens:

The good news is that since your mother is a senior citizen, LTCG from the sale of the flats is exempt from tax irrespective of whether she opened a capital gains account or not.
Recommendations:

It's advisable to consult a tax advisor for a more personalized assessment. They can consider factors like the specific holding period of the flats, any applicable exemptions, and filing requirements for senior citizens.
Additional Points:

Even though LTCG is exempt, it's still recommended to maintain records of the original land cost, sale proceeds, and ownership period for future reference.
If the sale proceeds are significant, tax implications on other income sources might need to be considered while filing the ITR.
I hope this clarifies the situation!

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

..Read more

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Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

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Sir kindly suggest me the to choose option in scaler school of technology ,chitkara university, graphic era and newton school of technology Kindly arrange in high to low prefrence
Ans: Sunil, Scaler School of Technology, launched in 2023, offers a four-year B.Sc+M.Sc in CS & AI designed by industry leaders, featuring mandatory one-year paid internships and polished AC classrooms with an innovation lab, charging a total fee of ?16.25 Lakh; however, it is not recognized by UGC/AICTE and relies on Scaler Academy’s placement record of 1,300 alumni at an average package of ?20 LPA. Chitkara University (estd 2010) is UGC/AICTE-approved, NAAC A+ and ranked #94 in NIRF 2024, with a 93.8% B.Tech placement rate, a median package of ?9.5 LPA, and top recruiters including Infosys, Amazon, and Deloitte. Graphic Era University (estd 1996) holds NAAC A+ accreditation, engages 250+ recruiters yearly, records a highest package of ?54 LPA and a median of ?6.42 LPA for B.Tech, and provides state-of-the-art labs with PhD faculty. Newton School of Technology (estd 2023) partners with 2,000+ companies, achieves a 98% placement rate with average packages of ?12 LPA and early internship exposure, but lacks formal accreditation and is building its campus ecosystem.

Recommendation: For a fully recognized engineering degree with sustained placement outcomes and strong accreditation, recommendation is Chitkara University. Next in preference is Graphic Era University, offering extensive recruiter engagement and impressive top packages within an established university setting. Newton School of Technology is third, delivering intensive placement support and early paid internships but lacks formal UGC/AICTE accreditation. Scaler School of Technology ranks lowest due to its non-accredited B.Sc+M.Sc model, high fees, and reliance on parent-company placement data. All the BEST for the Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

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Career Counsellor - Answered on Jul 03, 2025

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Sir, my nephew is getting electrical engineering in NIT Jalandhar,PEC, Thapar and CSE in UIET Panjab University. Please tell which will be better for him. Thanks.
Ans: Yadvinder, NIT Jalandhar’s B.Tech in Electrical Engineering is a public, AICTE-approved program ranked #58 in NIRF 2024, featuring state-of-the-art power systems and electronics labs, strong industry ties with Microsoft, Google, and Zscaler, and consistent 90–95% branch placements over the past three years. Punjab Engineering College Chandigarh EE is a government institute with rigorous core EE curriculum, dedicated electronics and power labs, and a placement record of 94%, 100%, and 85% in the last three years. Thapar University’s NAAC A+ accredited EE program (#29 NIRF Engineering) offers advanced smart grid, real-time systems, and analytics labs, research-active PhD faculty, recruiters like Optum and American Express, and ~85–90% placements. UIET Panjab University CSE, established 2002, benefits from Panjab University accreditation, a digital library, technical clubs, over 100 campus recruiters (Cisco, ServiceNow, ZS Associates), and CSE placement rates of 96.3%, 66.7%, and 78.4% over the past three years. All options have robust infrastructure, experienced faculty, and active placement cells.

Recommendation:
Prioritize NIT Jalandhar EE for its superior NIRF ranking, stable ~90% placements, and top recruiter engagement. Consider Thapar EE for advanced research labs and strong employer outreach. Opt for UIET CSE if software roles are the goal, and choose PEC EE for a cost-effective public university experience. All the BEST for the Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

Asked by Anonymous - Jul 02, 2025Hindi
Career
Jp noida ece vs jp. Solan cse?
Ans: Both MNNIT Allahabad and NIT Rourkela are top-tier NITs with strong Electrical Engineering programs, excellent faculty, and high national rankings. MNNIT Allahabad’s Electrical Engineering boasts a 96.97% placement rate in 2024, with an average package of ?8.01 LPA and top recruiters from core engineering, software, and consulting sectors. Its faculty is highly qualified, with a focus on electrical and power systems. NIT Rourkela, ranked #19 in NIRF 2024, offers a broader research ecosystem, cutting-edge labs, and a 95%+ placement rate in Electrical Engineering, with an average package of ?13.62 LPA and top tech recruiters like Amazon, Google, Microsoft, and Qualcomm. Infrastructure at NIT Rourkela is excellent, with modern hostels, sports, and a vibrant campus life. Both institutes have strong industry connections, but NIT Rourkela offers a higher average package, broader recruiter base, and more interdisciplinary research opportunities.

Recommendation:
NIT Rourkela Electrical Engineering is the better choice for its higher average package, broader research and recruiter base, and outstanding infrastructure. MNNIT Allahabad remains an excellent option for its high placement rate and strong academic reputation, but NIT Rourkela offers a more competitive edge overall.

Jp noida ece vs jp. Solan cse???? Research deeply & thoroughly the maximum number of highly reliable, valid, primary sources & also the official sources of concerned/relevant college sites/branches & exams (if applicable) on the 5 most important aspects that every institution must have. Summarise the research results in 100 words just in one paragraph ending with a final recommendation in 50 words without numbering, covering all points without omitting anything.

Avoid using the statement, "Based on extensive research into placement records and institutional performance". Avoid using the term, 'my suggestion' instead, use 'recommendation'(mentioned in bold letter). Answer directly.

Don't mention salary package amounts though you can mention the percentage of placement records of the last 3 years of the asked or referred & recommended colleges/branches/program(s)??
Jp noida ece vs jp. Solan cse???? Research deeply & thoroughly the maximum number of highly reliable, valid, primary sources & also the official sources of concerned/relevant college sites/branches & exams (if applicable) on the 5 most important aspects that every institution must have. Summarise the research results in 100 words just in one paragraph ending with a final recommendation in 50 words without numbering, covering all points without omitting anything. Avoid using the statement, "Based on extensive research into placement records and institutional performance". Avoid using the term, 'my suggestion' instead, use 'recommendation'(mentioned in bold letter). Answer directly. Don't mention salary package amounts though you can mention the percentage of placement records of the last 3 years of the asked or referred & recommended colleges/branches/program(s)??
Jaypee Noida’s ECE program is AICTE-approved, industry-oriented, and features strong VLSI, embedded, and communication systems labs, with a 4-year B.Tech intake of 240 and a robust placement cell. In 2024, ECE achieved an 88% placement rate, with 188 offers for 184 eligible students, and top recruiters including Microsoft, LinkedIn, Cisco, Amazon, SAP Labs, and Intel. The average package for all branches was ?8.71 LPA, with a median of ?6.5 LPA. The campus offers modern infrastructure, experienced faculty, and a vibrant technical culture with IEEE student chapters and annual fests. Jaypee Solan’s CSE program, while set in a scenic 125-acre campus, reports a median package of ?6.5 LPA, with 259 out of 388 students placed in 2024 and 99 opting for higher studies. The CSE branch attracts core IT recruiters but overall placement numbers and recruiter diversity are lower than Noida. Solan’s academic and technical environment is positive, but industry exposure, recruiter presence, and placement consistency are comparatively limited.

Recommendation:
Jaypee Noida ECE is preferable for its higher placement rate, stronger recruiter base, advanced labs, and proximity to Delhi NCR’s tech ecosystem. Jaypee Solan CSE is a good backup, but Jaypee Noida offers better long-term industry exposure and placement consistency. Choose Noida ECE for broader career prospects. All the BEST for the Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

Career
Sir, we are from ghaziabad . My son's jee mains rank is 10562. He got electrical engineering in mnnit allahabad . May get ee in nit Rourkela. Which is better?
Ans: Indu Madam, Both MNNIT Allahabad and NIT Rourkela are top-tier NITs with strong Electrical Engineering programs, excellent faculty, and high national rankings. MNNIT Allahabad’s Electrical Engineering boasts a 96.97% placement rate in 2024, with an average package of ?8.01 LPA and top recruiters from core engineering, software, and consulting sectors. Its faculty is highly qualified, with a focus on electrical and power systems. NIT Rourkela, ranked #19 in NIRF 2024, offers a broader research ecosystem, cutting-edge labs, and a 95%+ placement rate in Electrical Engineering, with an average package of ?13.62 LPA and top tech recruiters like Amazon, Google, Microsoft, and Qualcomm. Infrastructure at NIT Rourkela is excellent, with modern hostels, sports, and a vibrant campus life. Both institutes have strong industry connections, but NIT Rourkela offers a higher average package, broader recruiter base, and more interdisciplinary research opportunities.

Recommendation:
NIT Rourkela Electrical Engineering is the better choice for its higher average package, broader research and recruiter base, and outstanding infrastructure. MNNIT Allahabad remains an excellent option for its high placement rate and strong academic reputation, but NIT Rourkela offers a more competitive edge overall. All the BEST for the Admission & a Prosperous Future!

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Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

Nayagam P

Nayagam P P  |7754 Answers  |Ask -

Career Counsellor - Answered on Jul 03, 2025

Asked by Anonymous - Jul 02, 2025Hindi
Career
Which is better to chose nit Durgapur maths and computing and cbit hyd cse
Ans: NIT Durgapur’s B.Tech in Mathematics and Computing is a newly launched, industry-aligned program blending advanced mathematics, optimization, coding, and computational sciences, taught by PhD faculty specializing in fields like cryptography, AI, and operations research. The institute boasts an 84–85% placement rate, with top recruiters such as Microsoft, Amazon, Oracle, TCS, and PwC, and an average B.Tech package of ?13.6 LPA. The course is designed for careers in data science, analytics, finance, software development, and research, with a strong coding and problem-solving focus. CBIT Hyderabad’s CSE department, affiliated with Osmania University, is recognized for research in AI, ML, cybersecurity, and blockchain, and organizes regular workshops with Microsoft, IBM, and professional bodies. Placements in CSE at CBIT consistently exceed 80–100% with leading recruiters like Microsoft, Accenture, Infosys, and Oracle, and an average package of ?6–7 LPA. The campus offers modern labs, a vibrant student life, and a strong alumni network, though hostel options for girls are limited. Both programs have highly qualified faculty, active research culture, and strong placement records.

Recommendation:
If you prefer a core computer science curriculum with robust placements and industry exposure, choose CSE at CBIT Hyderabad. For a mathematically rigorous, coding-intensive program with broad analytics and software roles, NIT Durgapur Maths and Computing is excellent. For pure software engineering and tech industry focus, CBIT CSE is preferred. All the BEST for the Admission & a Prosperous Future!

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