Money - Rediff Gurus

Dr Karthiyayini Mahadevan |147 Answers |Ask -Follow

General Physician - Answered on Mar 23, 2023

Question by prabagaran - Mar 22, 2023

I am a CHF patient, can my condition be reverted ? My EF is 27%.

Ans: How old are you?
And what led to CHF?

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Ulhas Joshi |20 Answers |Ask -Follow

Mutual Fund Expert - Answered on Mar 23, 2023

Question by Kiran - Mar 20, 2023

Please tell about two mutual funds in which I should invest two lac rupees for a long time (8 to 10 year) and tell about two SIP in which I should invest rs. 5000/- per month

Ans: Hi Kiran. Thank you for writing to me. As you mention you have a corpus of Rs.2 Lakh you can invest, I advise you to start a Systematic Transfer Plan by first investing the amount in a liquid fund or overnight fund and then the fund would house would automatically redeem an amount from the liquid fund and invest it into an equity scheme. This way you get the benefits of rupee cost averaging.

You can consider starting a Systematic Transfer Plans as follows:

1-Invest Rs.1 Lakh into Samco Overnight Fund and start a Monthly STP of Rs.5,000 investing into Samco Flexicap Fund.

2-Invest Rs.1 Lakh into Edelweiss Liquid Fund and start a monthly STP of Rs.5,000 investing into Edelweiss Nifty 100 Quality 30 Index Fund.

For the additional SIP's, you can consider investing in:
1-DSP Quant Fund-Rs.5,000 per month.
2-UTI MNC Fund-Rs.5,000 per month.

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Anil Rego |305 Answers |Ask -Follow

Financial Planner - Answered on Mar 22, 2023

Question by Vineet - Mar 05, 2023

Dear Sir, My father recently in oct 2022 sold his house . He was staying in this house since 1973. He got this house from his father who had purchased it in 1971. In Jan 2023 my father passed away. All his money which he got from selling house was in joint account and my mother is the secondary account holder. Do my mother need to pay capital gain tax? If yes how much tax she need to pay? Can you also suggest how she can save the tax by investing in bond or any other investment. She don't want to buy a new house. Kindly suggest. Thanking you in advance

Ans: Your mother can register herself as a legal heir on the income tax website and then file the returns and pay the required tax as a representative of your father. You can invest in capital gains bonds (of REC, NHAI, etc) upto Rs 50L before 6 months from the date of sale of the property.

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Anil Rego |305 Answers |Ask -Follow

Financial Planner - Answered on Mar 22, 2023

Question by Vivek - Mar 22, 2023

I bought Tata Digital Fund considering the company fund to do well, but it is sinking. Kindly advise should i remain invested or exit?

Ans: This is a fund focused on the Technology Sector which has been weak due to the steep correction in Nasdaq. One needs to understand the risks associated with sectoral funds. Ideally, investors who are able to make active calls of entry and exit of sectors only should invest in such funds. Now that you have invested, I would suggest you can wait for a rally in the sector and then exit and move to a diversified equity fund.

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Sanjeev Govila |63 Answers |Ask -Follow

Financial Planner - Answered on Mar 22, 2023

Question by Babu - Mar 22, 2023

I am sixty three and having 1470 units of SBI large & midcap Fund Regular 2355 units of ICIC Technoly fund . Should i sell or hold it

Ans: SBI Large and Midcap Fund is a good fund in the category and can be held on to in case you wish to have exposure to this category. But please remember that this category of Large and Midcap Fund will always have at least 35% exposure to midcap stocks which makes it in a higher risk grade. If you wish to continue with the fund, do note the degree of risk you are taking and whether you are comfortable with it.

ICICI Pru Technology Fund is a good fund in the Tech Fund category. However, I do not recommend anybody to have exposure to any sectoral category fund since any sectoral category is typically cyclical in nature. It is always better to have a diversified fund – in case a particular theme or category is likely to do well in times to come, a good fund will anyway add it in the portfolio and hold it there as long as that sector or theme is relevant.

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Sanjib Jha |54 Answers |Ask -Follow

Insurance Expert - Answered on Mar 22, 2023

Question by Suhas - Mar 21, 2023

which term insurance plan for couple. my age is now 53 & wife age is 46

Ans: Any family plan would work well in this case. However, due to the age bracket, the premiums will be higher.

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Dr Vivek Mahajan |6 Answers |Ask -Follow

Cardiologist - Answered on Mar 22, 2023

Question by BRAHMA - Mar 16, 2023

I am 54 years now. since last 5 years my bp is 100/135 even after taking bp medicines. Is it fine ?

Ans: the ideal recommended BP for patients below 60 years is below 130/80 mm Hg. If you are measuring BP correctly and it is above this then you need to see your physician to adjust doses and medicines

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Ulhas Joshi |20 Answers |Ask -Follow

Mutual Fund Expert - Answered on Mar 22, 2023

Question by Chetan - Mar 15, 2023

Hi, I want to start a SIP for my 5 year daughter.

Ans: Hi Chetan! Thank you for writing to me. Please elaborate on what your goals are and when you expect to utilise the money so I can guide you better.

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Hemant Bokil |52 Answers |Ask -Follow

Financial Planner - Answered on Mar 21, 2023

Asked by Anonymous - Mar 10, 2023

Hi Sir, I am 48 years old and we are family of 4 . I don't have any liabilities. My current annual expenses are Rs.18 lacs per year. For childs education I have kept Rs.50 lacs separately. How much savings will be good for me to retire in next 2 years and what should be my asset allocation?

Ans: Asset allocation can be 50 50 at your retirement age of 50 in next 2 years, and for monthly expenses of 1.5 lacs after 2cyears u need to have corpus of 2 Crores approximately.

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Hemant Bokil |52 Answers |Ask -Follow

Financial Planner - Answered on Mar 21, 2023

Asked by Anonymous - Mar 18, 2023

GOOD EVENING SIR. I'M 42 YRS. I WANT TO CREATE A CORPUS OF 5 CRORES IN NEXT 12 YEARS. PRESENTLY I HAVE INVESTED 28 LAKHS IN MUTUAL FUNDS THROUGH SIP WITH CURRENT VALUATION AT 55 LAKHS. I'M INVESTING 55K PER MONTH DETAILS OF MONTHLY AMOUNT :- 1. HDFC TOP 100 - 2000 (SINCE JUN 10) 2. HDFC MID CAP OPPORTUNITIES DIRECT - 3000 (SINCE JAN 18) 3. HDFC MID CAP OPPORTUNITIES REGULAR - 7000 4. ICICI PRO- FOCUSED BLUE CHIP FUND - 5000 (SINCE JAN 14) 5. SBI BLUE CHIP FUND - 5000 (SINCE JAN 18) 6. HSBC MID CAP FUND - 5000 (SINCE JAN 19) 7. DSP FLEXI CAP - 5000 (SINCE JAN 20) 8. UTI NIFTY 50 - 5000 (SINCE JAN 22) 9. ADITYA BIRLA SUNLIFE FRONTLINE EQUITY - 3000 (SINCE JAN 14) 10. HDFC SENSEX FUND - 5000 (SINCE JAN 23)

Ans: Hi Good to see you are investing for a long time now but too many cooks spoil the party, same way you can exit Birla Frontline hdfc top 100 SBI bluechip funds and same for HSBC and dsp funds and and can add parag parikh flexi cap to your portfolio

Disclaimer me and my funds can have holdings in the suggested portfolio

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Hemant Bokil |52 Answers |Ask -Follow

Financial Planner - Answered on Mar 21, 2023

Question by Girish - Mar 19, 2023

Hi, I am investing 25,500 as a SIP in following MF schemes since 2017. 1. Franklin India Focused Fund - 5000 2. HDFC Hybrid Eqt Dir-G - 4000 3. ICICI Pru Eqt & Debt Dir-G - 4000 4. Kotak Flexicap Dir-G - 2500 5. Mirae Asset Emrgng Bluechip Dir - 7500 6. Mirae Asset Large Cap Dir-G - 2500 Please advise if I need to make any adjustments. I want to increase investments by around 50,000, should I increase SIP on these schemes?

Ans: Hi too many funds will not serve purpose of diversification. My suggestion is remove Franklin hdfc hybrid kotak flexi cap and add parag parikh flexi cap and and uti nifty 59 index fund

Disclaimer - its suggested portfolio and I and my clients can have holdings in them

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Hemant Bokil |52 Answers |Ask -Follow

Financial Planner - Answered on Mar 21, 2023

Question by Joshua - Mar 21, 2023

best mutual fund investment for 3 years duration

Ans: Hi for 3 years in current market scenario index find can help you grow money though good risk is there to get returns

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Ulhas Joshi |20 Answers |Ask -Follow

Mutual Fund Expert - Answered on Mar 21, 2023

Question by avinash - Mar 20, 2023

Dear Sir, i am 43 year olf and want Rs. 3 Crore by end of 15 years , i am having monthly SIP (Rs.31000) in following MF's from last one year - Axis small cap (D- growth)- Rs.10000, PGIM Midcap Opportunities (D- growth)- Rs.10000, SBI Multi cap (D- growth)- Rs.5000, Canara robecco bluechip equity fund (D- growth)- Rs.6000. pl. advice whther to continue the same MF' & with same SIP amount will i be able to achieve my target.

Ans: Hi Avinash, thanks for writing in.

To create a corpus of Rs.3 Crore in 15 years, you need to increase your investment amount to Rs.60,000 every month, that is increase your monthly SIP investment by Rs.27,000.

The funds you invest in are good funds and you can continue investing in them. You can modify the SIP values as follows:

-Axis Small Cap Fund Growth- Rs.15,000
-PGIM Midcap Opportunities Fund-Growth -Rs.15,000
-SBI Multicap Fund-Growth- 7,500
-Canara Robeco Bluechip Equity Fund Growth- Rs.7,500

You can also consider starting SIP's in:

-Edelweiss Nifty 100 Quality 30 Index Fund- Rs.7,500
-Samco Flexicap Fund-Rs.7,500

Stepping up your SIP's every year by 10% or more will help you create a larger corpus and achieve your goal faster.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by PUSHKAR - Feb 03, 2023

IF SALARY IS MORE THAN 15 LAKHS AND SAVING AS PER PROVISION LIKE 80C 1.5 LAKHS,NPS 50000 ETC THEN OLD TEX SCHEME IS BETTER OR NEW ONE.

Ans: New Regime

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Hit - Feb 14, 2023

Hi Sir Hope you are doing well. My CTC is 27 LPA, I Invest 1.5L in 80C, 50K in NPA, 85K School fees, My Age is 45 and planning to take home loan of 40L, No Other liabilities. Request to pls tell which tax regime should i go for? Thanks In Advance.

Ans: Assuming your loan of 40L with duration of 15yrs , the EMI will be 40k approx with interest component being 3.36L for the first year. The Old regime will still be beneficial in this case.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Octavio - Feb 18, 2023

My PPF account is maturing in 2025... 20yrs.... Current amt apx 40lacs.... Can I use it as a pension tool to withdraw only the interest amt once a year and extend the same for NXT 5yrs... My age is 48 yrs now

Ans: The lock in period for PPF is 15years now so you can withdraw it before 20 years as well. You can withdraw a sum equal to the sum given by banks on their investments for day to day expenses if you have retired. If you have not retired and have an active income then keep the investments for them to grow as you technically don't need the money. You can do diversification of this investment and keep it invested in a couple of assets like PPF , equity mutual funds , debt mutual funds , etc.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Dharam - Feb 17, 2023

Can I claim Gst accrued on purchase of commercial vehicle in billing of transport services provided by me if gst charged of forward charge basis of 12%

Ans: Yes

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Satish - Feb 27, 2023

Can we claim LTA for Cruise tour on Cordelia. Mumbai-Goa route

Ans: No

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Sushil - Mar 15, 2023

I made a Fixed Deposit of Rs. 1Lakh at a contracted @7% for a tenure of 3 years on 1April 2021 in a private bank. However due to some reason i prematurely closed the Fixed Deposit on 3April 2022. Being premature closure,the interest rate paid by the bank was reduced to 5% for the FD deposit period viz. 1April 2021 to 3April2022. But the Bank had already deducted TDS each quarter of FY 2021 starting April2021 till 31March2022 on the interest paid @ 7% and the same had been deposited to Income Tax Department and also being duly reflected in the 26AS against my PAN for all these 4 Quarters of FY 2021_2022 (AY2022-2023). Now the issue is as actually my actual income is less than the income reflected in 26AS, i am entitled to pay less income tax and so claim partial refund of TDS reflected in 26AS. Please advise how to treat this TDS in my income tax return filing for the AY 2022-2023?

Ans: The bank will have to correct the TDS paid by filing a revised TDS return which will reflect in your 26AS and then only the issue will be solved.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by rimpy - Mar 17, 2023

I Have salary income 18.5L ,i also have 1.5L on 80 c can i safe more income tax by investement

Ans: Yes by investing in NPS , by having a medical insurance , etc

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by VIVEK - Mar 17, 2023

Am a GOI servant having 1.14l per month as gross income. net after deductions comes to 75k. I have PLI, LIC, HDFC sanchay plus, PPF as IT savings every year along with covered under NPS. Which tax regime is better option for me New or Old

Ans: New regime is better

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by AKASH - Mar 18, 2023

My father has sold a piece of land and now wants to save capital gain tax. Can I sell my flat to my father under sale deed to get the capital gains benefit to my father?

Ans: There is a tax liability in both cases

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Kishore - Mar 20, 2023

I have bought 65 shares of Bajaj finance during last 40 days at avg of 6500 per share .. Today it is gone down to 5500 ... Please advise

Ans: Not for me

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Rajesh - Mar 18, 2023

Good Morning Mr. Mihir, I want to buy a flat in NCR area which belongs to a person who is working and living abroad. He have already paid an Advance money and after that i came to know that he falls in NRO Category, TDS on which is around 23% which is actually the Buyer responsibility. But he is saying that he do not fall in NRO Category and submitted his Indian PAN, Aadhar and Passport Copy in support of that. Now can you please help me out on this and confirm who i have to ensure that he doesn't falls in NRO Category and TDS will be deducted at normal rates i.e. 1%. So that there would not be any Tax obligation on my head after Sale Deed. Thanks in advance.......

Ans: In addition to PAN/Aadhar/Passport; it is advisable to check bank account in which amount is received. NRI usually take payment in NRE account.

Further, it is advisable to take declaration that seller is resident of India as per the provision of Income Tax.

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by S.S.Gangwar - Mar 16, 2023

My wife purchased a plot in 2006. Built three 2 story house.Wife expired in 2018.House sold by lega heirs in 2022.Kly advise the LTCG will be calculated on which acquisatin cost in 2006 or 2018.

Ans: In case of property received under a will, cost to previous owner is considered. Accordingly, in your case cost incurred in 2006 will also be considered .

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by Amit - Mar 15, 2023

Though given to understand that the Hardship compensation and Rent paid to members in a Redevelopment project are exempt from Income Tax, the Developer under the Joint Development Agreement deducts the TDS on these amounts @10% under section 194IC. If it is exempt for I.T., how do individual claim a refund of the TDS?

Ans: Matter of TDS on such compensation is litigative. As per JDA agreement, if part consideration is pertaining to rights given to develop a real estate project, TDS is applicable.

Further, Refund of TDS can be claimed by filing income tax return.

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Ulhas Joshi |20 Answers |Ask -Follow

Mutual Fund Expert - Answered on Mar 20, 2023

Question by Sudhanshu - Mar 17, 2023

Hi, I am Sudhanshu Joshi and 54 years old, I am new to Mutual fund, where can i invest around 2000 to 3000 from my savings to get a return in 4 to 5 years.

Ans: Hi Sudhanshu, thank you for writing in.

You can consider starting monthly SIP's in:
1-ICICI Prudential Equity & Debt Fund- Rs.1,500
2-SBI Multi Asset Allocation Fund-Rs.1,500

If you can elaborate your goals further, I can guide you with other schemes.

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Asked by Anonymous - Mar 15, 2023

If I fail to link my PAN with my Aadhaar by Mar 31, it is stated that the PAN will become inoperative - what does this mean? What will happen to the demat account in my name and linked to my PAN in that case? Will dividends corresponding to the shares in my demat account still get credited or will even that not happen?

Ans: PAN usually form part of KYC in all the accounts through which financial transactions are done. Further, as per Income Tax provisions, PAN is compulsory for certain financial transactions. Accordingly, it is likely that financial transactions are going affect if PAN is deactivated.

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 20, 2023

Question by mohan - Mar 14, 2023

further to my question of (2005) 10000 becoming 50000(2022) at redemption, what amount is to be tabulated as income in the current FY IT tabulation.

Ans: Unable to track your earlier question, please share previous question and answer

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Komal Jethmalani |142 Answers |Ask -Follow

Dietician, Diabetes Expert - Answered on Mar 19, 2023

Question by Ravindra - Mar 13, 2023

HI, I AM 47 YEAR OLD, 169 CM TALL WT. 80 KG. I WANT LOOSE 10 KG IN 15DAYS PLS SUGGEST. PLAN

Ans: Losing 10 kgs in such a short period of time is impractical and unhealthy. This cannot be recommended professionally. Weight loss is a gradual process and must be achieved in a healthy manner. You must eat the right quality and quantity of foods based on your nutritional requirements. Following a balanced diet with regular exercise is the key to good health.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by girish - Feb 14, 2023

Good afternoon. I want to create of corpus of 2 crores in 10 years. Presently I have a corpus of 5 lakhs in these mutual funds where I invest monthly 12000/- as follows: Franklin India Smaller Companies Fund - 2000/- HDFC Mid-Cap Opportunities Fund - Regular Plan - 2000/- HDFC Small Cap Fund - Direct Growth Plan -2000/- Mirae Asset Emerging Bluechip Fund - Direct Plan - Growth -2000/- SBI Blue Chip Fund - Regular Plan Growth -4000/- Please suggest the changes to be made to reach my target. Thank you.

Ans: Hello Girish. Your portfolio report is in good shape. From your current 12k sips per month, I would suggest increasing it to 60-70k sips per month to achieve the corpus of 2 Cr in 10 years. A better peer group scheme should be considered instead of the Small cap category schemes i.e. Franklin and HDFC. For your future investment, you may include Multicap category in your portfolio.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by Rahul - Mar 17, 2023

I have 1000 shares of RIL @ 900₹ Should I hold or book profit

Ans: Hello Rahul, Please consider your financial advisor who held expertise in direct stocks. Thanks

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by Dasarathan - Mar 17, 2023

I have invested in Nuvoco IPO and acquired some more and as on date have 128 shares @ 499 a share and am incurring a loss of aroung 22000/-. What is the outlook of the company and what should I do? I am a medium term investor of 3 years max

Ans: Hello Dasarathan, Please consider your financial advisor who held expertise in direct stocks. Thanks

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Asked by Anonymous - Mar 13, 2023

I’m investing in following MF’s 1. Axis Focused 25 Fund – 5000 /months and 10% yearly Step up 2. Axis Long Term Equity Fund – 5000/ month and 10% yearly Step up 3. Axis Small Cap Fund – 5000/ month and 10% yearly Step up 4. Mirae Asset Emerging Bluechip Fund – 2500/ month 5. Mirae Asset Mid Cap Fund – 5000/ month and 10% yearly step up 6. Parag Parikh Flexi Cap Fund – 5000/ month My investment horizon is 15 years , moderately high risk appetite with focus on maximum Corpus Build. Kindly advice if my portfolio needs any change ? Thanks.

Ans: Hi Value Investor. It appears that your portfolio has a sound report. It would be advisable to reconsider the Axis AMC with better peer schemes except Axis Smallcap fund.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by JASKARAN - Mar 02, 2023

Hi Nikunj. I am 39 years working professional and currently investing in following mutual funds :- 1. HDFC Mid-Cap Opp. Fund (Growth)- Rs.12000/- month. 2. HDFC Capital Builder Value Fund (Regular)- Rs.12000/- month 3. SBI Blue Chip Fund - Rs.2000/- month 4. Parag Parikh Flexi Cap Fund (Regular)- Rs.2000/- month 5. HDFC Balance Advantage Fund (Regular)- Rs.5000/- month. Please give your opinion whether my portfolio is good for long term goals or some change is required. Thanks in advance.

Ans: Hi Jaskaran. Your current investment portfolio shows that 80% of your investments are in one AMC i.e. HDFC. Hence, I would suggest that AMC-wise diversification is required in your portfolio. In addition, I recommend you to add large & mid , and small cap categories in your future investments with proper allocations.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by Samrat - Feb 27, 2023

Hi, I am 27 now and want to start a SIP. I want to achieve 15 Lakhs in 4 years. Please help me in which MF, I should start investing and what is the percentage ratio. My salary is around 50k per moth.

Ans: Hello Samrat. I would suggest to start a monthly sip of 20-25k to achieve a goal of 15 Lakhs in 4 years. In accordance to your requirement , I would recommend to invest in categories like Balance Advantage , Large cap, Large & Midcap and Flexicap etc.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by Munira - Feb 22, 2023

I have been investing 1 Lac every year in ICICI Pru Future Perfect for my son since 2017. I receive around 16,000 every year as Bonus from ICICI, fixed bonus is around 64,000 which I will receive at the end of term. Was investing in this instrument a wise decision, considering I am looking to fund my son's education.

Ans: Hello Investor, Please consider your financial advisor . Thanks

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by gowtham - Feb 09, 2023

Hi sir i need corpus of 1 crore my age is 30 currently earning 90k per month Mutual funds fds and all at a whole can youplease suggest me sir

Ans: Hello Value Investors. Please quantify your investment constraints.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by Metesh - Feb 04, 2023

Hi Nikunj I'm looking at creating a corpus of 10 cr in next 10 years....currently the value of my portfolio is around 71 lacs and i have a monthly SIP of 65k in axis , midcap, canara robeco emerging, ICICI pru bluechip, ICICI nifty 50, mirae asset emerging bluechip, quant flexi cap, sbi small cap, sbi focussed equity and sbi equity hybrid fund... Are these good enough or what strategy should I take going forward..

Ans: Hello Metesh. Overall your portfolio report sounds very promising. I must say that you have conducted thorough research on the market. The sbi focused equity scheme may need to be reconsidered in comparison to peer schemes. Furthermore, in addition to achieve a corpus of 10 crores in the coming years, I would suggest you increase your sip and include an annual add-on to your current sip amount. In view of the fact that 65k sip will not suffice to accomplish your goals.

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Nikunj Saraf |205 Answers |Ask -Follow

Mutual Funds Expert - Answered on Mar 18, 2023

Question by Checker Box - Jan 11, 2023

Sir, I want to start an SIP of Rs 15k for my son’s education, he is in 9th std and I may require around 7-8 lacs in next 5 years, please suggest where should I invest?

Ans: Hi Value Investor. Thanks for discussing your requirements and future goals. For the goal of 7-8 Lakh., you can easily start sip in mf of around Rs.15000 in categories like large & midcap, Multicap , Mid cap and Balanced Advantage Funds etc. Starting with Rs.15000 on a monthly basis can help you achieve the Child Education goal.

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 17, 2023

Asked by Anonymous - Mar 14, 2023

Hello Mihir Sir, You might be aware of domain buying/selling business, Actually My son has sold a domain and worked as broker and accordingly the transaction has been successfully completed (transaction was done thru a firm which clear path for safe deal in US and disburse the amount according to deal) against which he got a commission in USD, the same was remitted by bank , the amount is about Rs.64.00 lacs, this was the first deal which is done by him, in the coming days there may be more deals. I want to know what will be tax liabilities on this income and coming income, and which ITR shall he submit to fulfill the Income Tax requirement. Humble request to please guide me. Thanks and Regards, Rizwanur Rahman

Ans: Taxability of income will depends on several factors like residential status, business connection in India, DTAA benefit (if available), technical knowledge involved and availability of certain prescribed documents.

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 17, 2023

Asked by Anonymous - Mar 14, 2023

i have purchased an agricultural land in my name and of my doughter. I am 75 yr old, how can i transfer the title of entire land in name of my daughter without much tax or stamp duty etc.

Ans: Asset transferred to daughter is considered as gift to relative and not chargeable to income tax.

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Mihir Tanna |329 Answers |Ask -Follow

Tax Expert - Answered on Mar 17, 2023

Question by Ramesh - Mar 14, 2023

I have sold my house for which the buyer has deducted TDS of Rs.80000/- in March 2023.However I will also deduct TDS OF Rs.125000/- in April 2023 on my purchase of property.Please let me know whether I can claim TDS of refund TDS of Rs 80000/- in my income tax return for the financial year 1922-23 since I have purchased the house but TDS will be recovered in April end.

Ans: Yes, refund can be claimed if gain amount is invested in another property on or before filing of income tax return and tax liability is NIL for income computed for FY 22-23.

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Ulhas Joshi |20 Answers |Ask -Follow

Mutual Fund Expert - Answered on Mar 17, 2023

Question by Moin - Mar 16, 2023

Hello Sir, I am 38 and new to mutual funds . I want to have corpus of 4 cr by the time i retire at 60 . Can you help me with how much to invest and which all mutual funds to invest in.

Ans: Hello Moin and thank you for writing to me! To create a corpus of Rs.4 Crore in the next 22 years, you need to start monthly SIP's of Rs.30,000.

You can consider investing in:
1-Samco Flexicap Fund-Rs.7,500
2-Edelweiss NIFTY 100 Quality 30 Index Fund-Rs.3,750
3-Motilal Oswal S&P BSE Low Volatility Index Fund-Rs.3,750
4-UTI MNC Fund-Rs.7,500
5-Tata Ethical Fund-Rs.7,500

Stepping up your SIP's every year by 10% or more will help you achieve your financial goals faster an create a larger corpus.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by mahendra - Feb 27, 2023

my PPF account matured in 2018 having 29 lacs at present, i am getting yearly interest on same. I want some amount say 5 lacs to withdraw, can i?

Ans: Yes

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by shivani - Mar 02, 2023

Sir, I am an Engineer working in a MNC in Bangalore. As per my CTC I am getting HRA but I am staying in rented house paying rent Rs. 23,000/- monthly. Sir, Am I eligible to get incometax exemption/ rebate on rent being paid by me. Kindly advise.

Ans: yes

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by Sekhar - Mar 05, 2023

I want to know how can I save tax on sale of house property and what is rec bond

Ans: you can save the entire tax by buying a new property. REC bonds can save taxes up to 50L, the block in period of which is 5 years and the interest is fully taxable.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by mahendra - Mar 06, 2023

after maturity of PPF account how much i can withdraw?

Ans: you can withdraw the entire amount but it will be taxable depends on the number of years you have been working for

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by Ravi - Mar 09, 2023

Hai, I am retired from State Govt. PSU during Oct.22. I have taken a medical insurance for me & my wife at a premium of Rs.38000/- during Feb. 2023. Can I claim deduction in the forthcoming ITR during this year and what is the amount?

Ans: yes you can claim the entire amount if you are above the age of 60yrs.

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Vivek Lala |49 Answers |Ask -Follow

Tax Expert - Answered on Mar 16, 2023

Question by Debabrata - Mar 10, 2023

If I sell a property and keep the sold amount in Bank will that amount be taxable please advice.

Ans: Yes

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