नमस्ते, मैंने हाल ही में COVID महामारी के दौरान एक चुनौतीपूर्ण अवधि का सामना किया। दुर्भाग्य से, अप्रत्याशित परिस्थितियों के कारण, मुझे बेरोज़गारी की अवधि का सामना करना पड़ा, जिसके कारण मुझे अपने क्रेडिट कार्ड का बड़े पैमाने पर उपयोग करना पड़ा। अफ़सोस की बात है कि मैं समय पर पुनर्भुगतान नहीं कर सका, जिसके परिणामस्वरूप मेरे खाते डिफ़ॉल्ट हो गए। हालाँकि, तीन साल बाद, मैंने अपने क्रेडिट कार्ड और बजाज फाइनेंस से एक व्यक्तिगत ऋण पर सभी बकाया राशि का सफलतापूर्वक भुगतान किया। इन ऋणों को हल करने के बावजूद, अब मैं अपने CIBIL स्कोर पर नतीजों का सामना कर रहा हूँ, जो काफी कम हो गया है। मैं अपनी साख को फिर से स्थापित करने और सुधारने के लिए सक्रिय कदम उठाने के लिए उत्सुक हूँ। मैं भविष्य के वित्तीय प्रयासों के लिए एक स्वस्थ क्रेडिट स्कोर के महत्व को पहचानता हूँ। क्या आप कृपया मार्गदर्शन या रणनीतियाँ दे सकते हैं कि मैं अपने CIBIL स्कोर को फिर से बनाने की प्रक्रिया कैसे शुरू कर सकता हूँ? मैं किसी भी सलाह, सुझाव या विशिष्ट कदम के लिए तैयार हूँ जो समय के साथ मेरी साख को लगातार बढ़ाने में मेरी मदद कर सके। इस मामले में आपकी विशेषज्ञता की बहुत सराहना की जाएगी और उसे महत्व दिया जाएगा।

Ans: With 83% in PCM from a state board, your son meets the 65–70% eligibility threshold for VIT’s Integrated M.Tech programs across campuses (Vellore/Chennai: 70%, AP/Bhopal: 65%), making him eligible for courses like CSE (Data Science) or Software Engineering. Category allocation (1–5) depends on merit-based 12th marks ranking, where higher PCM scores secure lower fee categories. While exact cutoffs fluctuate yearly, 83% typically falls within Category 2–3 (annual fees: ?1.59–1.92 lakh at Vellore), offering moderate fee concessions compared to Category 4–5. Prioritize VIT Vellore/Chennai for stronger academic infrastructure and placement networks, though admission certainty in these campuses requires higher PCM scores (≥85% for Category 1). If budget permits, Category 2–3 in AP/Bhopal provides balanced affordability and program quality, while maintaining backup options in emerging specializations. All the BEST for your Son's Admission & a Prosperous Future!

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Ans: No, Every non-senior citizen taxpayer is required to disclose all the income (including income on which TDS is deducted) in its income tax return.

Ans: All 'Resident and Ordinarily Resident' must disclose all the information about their foreign assets and income in the ITR

Ans: With a VITEEE rank of 42,000, your son’s chances for EEE in VIT Chennai Category 1 are strong as per previous year’s cutoff (~45,000 for EEE Category 1), but not guaranteed, since actual cutoffs can fluctuate due to applicant pool, difficulty, and seat availability. Despite meeting the historical cutoff, he did not secure EEE in Category 1 this year, which suggests increased competition or lower seat availability. The VIT counseling process allows participation in multiple rounds, so he should continue in counseling, monitor seat allotment updates, and keep EEE as a preference in subsequent rounds since seats may open if higher-ranked candidates withdraw. He is also eligible for other branches or higher fee categories if EEE remains unavailable, and should consider backup options at VIT Bhopal or VIT AP, where cutoffs are generally lower. Stay engaged in counseling and be flexible with branch and category choices for optimal results. All the BEST for your Son's Admission & a Prosperous Future!

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Ans: With a 99.3 percentile in JEE Main (expected rank 7,201–8,400), your son can target ECE at NIT Calicut (2024 closing rank: 7,433), NIT Rourkela (5,721), or NIT Surathkal (7,434), alongside Electrical Engineering at NIT Trichy (7,193) and NIT Warangal (11,415). While CSE in top NITs like Trichy (1,245) or Warangal (2,186) is unlikely, newer NITs like NIT Andhra Pradesh (CSE cutoff: ~25,707) or NIT Delhi (AI & DS: 9,377) may offer CSE seats. Prioritize ECE/Electrical in higher-ranked NITs during JoSAA counseling, balancing branch preference with institutional reputation, and include CSE options in emerging NITs as lower preferences. All the BEST for your Son's Admission & a Prosperous Future!

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Ans: With 84% in PCM, you meet the minimum eligibility requirement (70% in PCM) for VIT Vellore’s Integrated M.Tech, but admission is highly competitive and depends on the applicant pool and category selection. Higher categories may increase your chances, but top slots are reserved for the highest scorers. All the BEST for your Admission & a Prosperous Future!

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Ans: Prashant, Government colleges offering Aerospace Engineering via JEE Main include IIEST Shibpur (B.Tech in Aerospace and Applied Mechanics) with a 2024 cutoff rank of 15,603–53,043 (General) and NIT Delhi (B.Tech Aerospace Engineering) closing at 17,286 (2024 General). Private institutions like SRM Institute of Science and Technology and Chandigarh University offer aerospace programs but primarily through university-specific exams (SRMJEEE/CUCET), though some consider JEE Main scores for eligibility. VIT Bhopal provides Aerospace Engineering but mandates VITEEE, not JEE Main. For JEE Main-focused options, prioritize IIEST Shibpur and NIT Delhi, ensuring ranks align with historical cutoffs, while exploring private alternatives if scores fall short. All the BEST for your Admission & a Prosperous Future!

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Ans: You have built a solid base with multiple income streams and disciplined investing.

At 40, you are in a strong position to create a secure and abundant retirement corpus.

Your goals are clear:

Repay your home loan in 15 years instead of 20.

Build Rs. 8 crore corpus by age 60.

This plan needs structured action and disciplined execution. Let’s assess everything carefully from a 360-degree view.

Salary and Cash Flow – A Good Start
Your in-hand salary is Rs. 1 lakh per month.

After Rs. 39,000 CPF + VPF and Rs. 28,900 NPS deduction, you save a big portion.

You are already investing Rs. 35,000 in mutual funds.

Equity SIP of Rs. 20,000 shows higher risk appetite.

Miscellaneous expense of Rs. 7,000 is low and controlled.

Overall, your income-to-expense ratio is strong.

There is good scope for maximising returns and building wealth faster.

Home Loan – Strategy to Close in 15 Years
EMI of Rs. 37,000 on Rs. 50 lakh loan is well within limits.

Goal: Close this loan 5 years earlier without stress.

First, increase EMI gradually every year by 5-10%.

Use annual bonuses or salary increments to make part-prepayments.

Even Rs. 1 lakh extra per year can reduce term by 3-4 years.

Review loan structure with lender once in 3 years to get best rate.

Do not stop SIPs or equity investment for loan closure. Balance both together.

LIC Policies – Immediate Assessment Needed
You pay Rs. 1.7 lakhs yearly as LIC premium.

These are investment cum insurance plans.

These offer low returns and poor liquidity.

Surrender policies and reinvest money into mutual funds for better growth.

Get a simple term insurance of Rs. 1 crore for family safety.

This will reduce premium cost and improve overall wealth creation.

This one decision alone can add lakhs to your final corpus.

Direct Mutual Funds – Not the Right Choice
You are investing through direct plans in some mutual funds.

This looks cost-saving but can become risky in long term.

Direct funds do not offer any ongoing guidance.

Market changes are frequent. Without advice, you may exit or switch wrongly.

Wrong timing can damage your entire portfolio.

A Certified Financial Planner with MFD code gives portfolio strategy.

Regular fund investments give peace of mind and better asset allocation.

Charges are marginal but value is high.

Please shift your funds to regular plans through an MFD having CFP credentials.

Index Fund Exposure – Needs Reevaluation
You are investing in Nifty 50-based index fund.

Index funds are low-cost but not always right.

They follow the market passively.

No option to reduce exposure in weak sectors.

No active strategy during corrections or crashes.

Actively managed funds perform better in Indian market conditions.

They provide risk-adjusted returns with more flexibility.

Certified Financial Planners can help select best actively managed schemes.

Avoid depending on index funds for long-term goals.

Your Existing Investment Mix – Analysis
Your investments are well diversified across multiple asset classes.

Let us evaluate one by one:

CPF + VPF Corpus – Rs. 80 lakhs

Very stable and safe.

Good for post-retirement pension-like benefit.

No changes needed.

NPS Corpus – Rs. 18 lakhs

Another strong pillar for retirement.

Tax-efficient and low-cost.

Suggest keeping equity allocation at 50%-60%.

PPF Corpus – Rs. 14 lakhs

Excellent for safe long-term returns.

Tax-free and fixed interest.

Continue till maturity.

Sukanya Samriddhi – Rs. 1.5 lakhs/year

Good for daughter’s education or marriage goals.

Stay invested till maturity.

Mutual Fund SIPs – Rs. 35,000/month

Right asset for long-term wealth creation.

Some funds may need rebalancing.

Mid-cap and small-cap should not cross 30% of portfolio.

Equity Shares – Rs. 18 lakhs

Good wealth-building asset.

High risk, but can deliver higher returns.

Do annual review with a Certified Financial Planner.

Target Rs. 8 Crore at 60 – What You Need to Do
You are now 40 years old.

You have 20 years to build Rs. 8 crore.

Let us look at possible actions:

Continue current SIPs of Rs. 35,000 monthly.

Increase this by 10% every year.

Shift direct funds to regular funds.

Rebalance mid-cap/small-cap exposure to keep risk moderate.

Reinvest LIC surrender value in long-term equity mutual funds.

Keep NPS equity allocation between 50%-60%.

Avoid index funds. Choose high quality actively managed funds.

Use Certified Financial Planner for long-term monitoring.

With this discipline, your Rs. 8 crore goal is very realistic.

Insurance – Only Term Plan is Enough
You are spending Rs. 1.7 lakhs yearly on LIC.

These policies mix insurance with investment.

Returns are around 4%-5% only.

Do this instead:

Surrender LIC policies after checking surrender value.

Buy a pure term insurance of Rs. 1 crore.

Annual premium will be around Rs. 15,000 only.

Invest balance Rs. 1.55 lakhs in equity mutual funds.

This will protect family and create higher wealth.

Tax Planning – Ensure You Don’t Overlap Sections
You are contributing to PPF, CPF, NPS, Sukanya.

All these are eligible under Section 80C and 80CCD(1B).

Ensure not to exceed maximum allowed limits.

Use balance funds for equity mutual funds or debt funds.

Emergency Fund and Short-Term Goals
Maintain 6 months’ expenses in a liquid fund.

Do not mix emergency fund with investments.

Plan separately for near-term goals like car, vacation, etc.

Use short-term debt funds for such goals.

Portfolio Rebalancing – Do it Yearly
Every 12 months, review and rebalance your portfolio.

Reduce exposure in overgrown asset classes.

Adjust between large-cap, mid-cap, and debt.

Track performance with support of Certified Financial Planner.

Exit poor performers and reallocate.

This keeps your goal aligned and risk under control.

Final Insights
You are already on a strong foundation at age 40.

Your income is good, savings rate is healthy, and investments are well spread.

But a few corrections are needed to maximise outcomes.

Shift LIC policies to equity mutual funds.

Avoid direct and index funds.

Work with a Certified Financial Planner for guidance.

Stay invested, increase SIPs yearly, and control unnecessary spending.

Your Rs. 8 crore goal is possible with this roadmap.

Stay focused, track yearly, and adapt as needed.

You are moving in the right direction.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Sure. You can reach me through the website link given in the signature below.

You need handholding for:

Creating your customised investment plan

Choosing the right mutual funds

Setting up Systematic Withdrawal Plans (SWP)

Reviewing and rebalancing your portfolio periodically

Ensuring tax efficiency and long-term growth

Look forward to helping you build a stress-free retirement income strategy.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment