Need Expert Advice?Our Gurus Can Help

Answered on Aug 29, 2023

Question by Rajkumar - Aug 18, 2023

I AM HAVING PORTFOLIO OF NIPPON INDIA TAX SAVER IDCW REGULAR9000 HDFC TOP 100 IDCW 3000 AND HDFC TAX SAVER 3000 PER MONTH PL REVIEW MY PORTFOLIO

Ans: Tax saver funds are the schemes that helps investor save tax under Section 80C of the Income Tax Act, 1961, but have a lock-in period of 3 years. Hence, you can reduce your contributions to tax savings fund to the extent you need the deduction. It is also suggested to change the option from IDCW to Growth from a taxation standpoint. You can continue to invest in HDFC TOP 100 Fund and it is also suggested to change the option from IDCW to Growth module. Further, you can evaluate adding a midcap fund if you have the risk appetite.

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Answered on Aug 29, 2023

Asked by Anonymous - Aug 18, 2023

Which is the best systematic investment plan for long term

Ans: It is very difficult to generalise, without understanding your risk profile. You can use a combination of large, mid and small cap funds. Large cap funds like Nippon India Largecap/HDFC Top 100, Midcap funds like HDFC Midcap and SBI Magnum Midcap and small cap funds like Sundaram Small Cap

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Answered on Aug 29, 2023

Question by Apurv - Aug 22, 2023

I am a retired person and I have recently sold my equity stocks . Now I want to invest the total amount ( about 50-60 Lacs ) in Mutual Funds . Is it advisable to do so for a retired person ? Should my portfolio also include equity MF or balance advantage fund will be more advisable ? i want above than FD returns over a period of 3 years , say about 9-10 % . Please advise me on a correct mix of MF with category & names of MF which will be safe & suitable for this . TIA.

Ans: As a retired individual looking to invest a substantial amount in mutual funds, it's important to consider your risk tolerance, investment goals, and time horizon. While mutual funds can offer potentially higher returns compared to fixed deposits (FDs), they also carry a certain level of risk based on the category of funds you choose. We suggest a combination of equity, hybrid and debt funds based on your risk appetite. For a 9-10% pre tax return, you can have about 25%-30% in equity, 30-35% in hybrid funds and 35-45% in debt. Within the hybrid category, you can use dynamic asset allocation funds significantly. Within equity, you can use a combination of large cap, flexicap and micap fund.

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Answered on Aug 29, 2023

Question by Alpesh - Aug 22, 2023

I am 40 Years old my annual income is 11-12 lakhs , SIP HDFC 4000, Kotak 4000, ICICI 4000, Parag Parikh 3000, Mahindra Manulife 3000, want to corpus of Rs.1 Cr in 10 yrs, pls suggest

Ans: It’s a great that you’re planning for your financial future by investing SIPs and aiming for a sustainable corpus. To reach your goal of Rs. 1 crore you might need to consider increasing monthly SIP contributions. You would need to move your contributions to about 30K per month to start with and make an annual increase of about 10%. You can recaliberate the amounts based on your comfort.
You have mentioned only the fund house name and not the scheme name and hence I cannot comment on the same.

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Answered on Aug 29, 2023

Asked by Anonymous - Aug 27, 2023

Hello, I am having lots of investment in various regular mutual funds via an investment company. I want to move to direct mutual funds. I am looking for professional consultants who can review my portfolio, goals etc. once in an year and advice. I can pay them for consultancy services as I use them. Do we have such services in India? I am 40 years old and plan to invest for another 15 years, thats why not willing to do regular funds any more due to high expense ratio.

Ans: Yes, you can very much do the same. You can look for a Registered Investment Advisor. As per regulations also, such advisors need to advice on direct funds. You can mutually fix a fee with the advisor.

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Answered on Aug 26, 2023

Asked by Anonymous - Aug 23, 2023

Hi, I can invest 100k INR per month. I am 40 year old and will keep investing for 20 year. Risk Appetitie is good and looking to invest in Equity MF. currently i have SIP of following MF schemes - SBI Retirement Fund Aggressive - 20K, Nippon Small Cap Fund - 5k, HDFC Mid Cap Opportunities - 10k, Nippon India Multicap -12.5k, ICICI Large and Mid Cap - 5K, Quant Large and Midcap - 5k, HDFC Retirement Fund Equity - 20k, Kotak Small Cap - 8500, Mirae Asset Midcap - 9k and SBI Contra Fund -5k

Ans: Not clear what your query is.

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Answered on Aug 26, 2023

Question by Purnima - Aug 24, 2023

Hi I had my PF transferred from my old employer to new employer is 2020. However i noticed that for some reason, a residual amount of INR 2L is still showing up in old account. What should i do to transfer the account. On EPFO.site, the transfer is showing as completed

Ans: You can raise a request online for the same on the EPFO website.

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Answered on Aug 26, 2023

Question by Pratap - Aug 24, 2023

I have invested in various Mutual funds since 2019. Now I have got decent profit (XIRR 17%). Latest Value is around 50 Lakh. These are old investment and SIPs have been stopped. Market is at all time high, is it right time to redeem my investment or wait?

Ans: If you do not need the money, you can keep it for the long term. While there maybe intermediate corrections, in the long term the equity markets will continue to do well if the economy does well. You can use an advisor to help you through the journey.

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Answered on Aug 26, 2023

Asked by Anonymous - Aug 25, 2023

My father in law died 3 years back. He did not leave a will. there are 4 off springs. son was nominee for shares and mutual fund and ppf. which he has claimed and is not willing to share with his sisters. According to him, as he is nominee he has is the owner of assets. What is correct legal position?

Ans: On demise, the nominee will get the mutual fund investments. However, the nominee only holds it "in trust" till the legal heir claims it. You can discuss with a lawyer and take this up accordingly.

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Answered on Aug 23, 2023

Asked by Anonymous - Aug 22, 2023

Dear Gurus, i'm 35 years old and started an SIP 1 year back for Kids education required in next 15-16 years for 2 kids. I have invested in SBI Equity Hybrid Fund Regular Growth of 6K monthly, please guide if i have invested in right fund and amount is right or what amount i should invest. Also share your valuable suggestions.

Ans: Firstly, aggressive hybrid funds are an option to use for child's education if one wants to be conservative Vs investing in a pure equity fund. There are better funds in the category to consider including ICICI Pru Equity and Debt Fund. HDFC Children's growth is also an option.
However, I think keeping in mind the tenure, one can set aside part of the money into Large Cap, Large & Midcap Funds and even Multicap Funds. This will potentially increase the return. As one comes closer to the requirement, one can start moving out of these funds including more conservative dynamic asset allocation funds.

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Answered on Aug 23, 2023

Question by Rajkumar - Aug 22, 2023

Suggest me regarding sip of Nippon india tax saver fund dividend option sir

Ans: Nippon India Tax Saver has not been a very consistent performer. It has done well considering a 3 year period, but on a 5 year basis and 1 year there are better performing funds in the ELSS segment like SBI LT Equity, HDFC Tax Saver and Kotak Tax Saver that you can choose from if you want to diversify.
If you are in the higher tax bracket, dividend may not be a good option due to the taxability of dividends.

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Answered on May 18, 2023

Question by Praveen - May 15, 2023

Dear Mr. Rego, Are there any tax saving options available, considering I am on new tax regime. Also, I don't have any home/auto/etc. loan, and stay in my own apartment. Regards, Praveen

Ans: The following deductions remain under the new tax regime: standard deduction, Interest on Home Loan for a let out property, employer's contribution to NPS, contributions to Agniveer Corpus Fund.
Exemption of leave encashment is also available under the New Regime.

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Answered on May 18, 2023

Question by Thomas - May 15, 2023

Hi Mr. Anil, I had 10000 shares of Uttam Galva Steels now taken over by AMNS KHOPOLI LTD, asper the CIRP Resolution. Now my DP has sent the statement with out this balance in the Portfolio, showing a Debit with description ' To Capital Reduction'. What does it mean, how will I get my money which I invested? please advise. Thanks...

Ans: This means that this has been cancelled and extinguished based on the CIRP Resolution. Typically, in such resolutions, the creditors itself end up taking a hair cut (partial write off of loan). Thus there is nothing left for equity shareholders.

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Answered on May 18, 2023

Question by KARTHIKEYAN - May 17, 2023

Is it necessary to have DEMAT account for selling the shares. Can I transfer the shares physicaly?

Ans: Yes.. one needs to have a demat account to sell/transfer the shares.

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Answered on Apr 27, 2023

Question by subodh - Apr 23, 2023

how much monthly should i save to live happily after 75 yrs. presently i am 55

Ans: This will completely differ from person to person. One way of doing it is to look at you current monthly expenses and index that for inflation.
You can arrive at the capital required by computing the present value of the future cash flows (monthly income needed).

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Answered on Apr 27, 2023

Question by Akhil - Apr 25, 2023

I purchased a icici children growth bond worth rupees 5000 and now during the redemption I can't find the bond certificate or the document I had. What do I do to redeem it

Ans: You can approach the registrar of the bond. They may also find it difficult without being able to provide any details of your investment to them.

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Answered on Apr 27, 2023

Question by RITESH - Apr 26, 2023

RITESH SHAH My Daughter is currently 6 years old, I want to gift her these shares and the holding period can be more than 25 years. Kindly provide your valuable Guidance whether I should proceed ahead or switch to other companies. 1. Abbott India - 25 Shares @ 20000. 2. Nestle India - 25 Shares @ 19500.

Ans: While both are MNC companies and have done well in the past, I prefer you instead gift a diversified equity mutual fund. The fund would manage the underlying stocks and provide better diversification than a 2 stock portfolio.

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Answered on Apr 27, 2023

Question by Abhijit - Apr 25, 2023

Hi, My salary is 22 lakhs with investment such as 35 lakh FDs, 20 lakh Stocks, monthly rent of 18,700, 50k nps, 1.5lakh ppf and no health insurance. Kindly suggest what should I do to reduce income tax to large extent? Is it better to buy a flat with loan around 50lakhs with 8.2% interest and down payment of around 40lakhs? But I will be losing yearly interest over FDs with 7%.

Ans: You can consider a home loan. I am assuming that this house will help you save Rs 18,700 in rent. (Rs 2.24Lpa). Vs this on the Rs 40L downpayment you will lose FD interest of Rs 3.2L pre tax (FD at 7% and Equity at 15% assumed) which works out to only Rs 2.29L post tax on the FD interest. Further you would now get tax deduction on your home loan of Rs 2L pa. You would lose HRA benefit. (You need to compute this based on various HRA conditions). You tax saving on home loan is definitely going to be higher.
Thus, the home loan is beneficial to you from a tax saving basis and based on your current circumstances. However, you need to consider other factors like your repayment capacity of your EMI on home loan and also its impact on your savings into stocks, MF, etc. for the future.

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Answered on Apr 08, 2023

Question by Viswanath - Apr 05, 2023

I am having 100 Natural Capsules shares in physical form not transferred in my name. Transfer deed signed by original holder is missing. The holder /seller is dead long back. I have the proof of paying the purchase value of the shares. Presently only demat shares are saleable in the market. Please guide me how to transfer the shares to my name?

Ans: I would believe this is very difficult to transfer onto your name as you have lost the original transfer deed. The only way that I can think is for you to work with the legal heirs of the seller and get a fresh transfer deed done.

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Answered on Mar 22, 2023

Asked by Anonymous - Mar 06, 2023

Dear Guru, My wife is working as a teacher in a school and her salary package is around 7.2 lakh per annum. She is paying the house rent @ 18000/- per month but does not have any rent agreement signed. The payment is being done by cheque and when we she approached her school for availing tax benefits under house rent she has been asked to submit the rent agreement. She has PAN card of the landlady and copy of her bank statement as proof toward making rent payment. Please advise how she can avail the benefit

Ans: A rent agreement is required to avail of HRA. Please work with your landlord to get this agreement executed.

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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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Answered on Mar 22, 2023

Question by R - Feb 24, 2023

I need to know about the shifting of government NPS to individual NPS. In my case, I joined a state government organization in 2013 on an Adhoc basis and the organization opened an NPS account for me and received a PRAN. After that, we (employee and employer) continuously made monthly contributions to my NPS account. Now in the month of March 2022, my adhoc tenure is completed and I left the organization. Now I am at a different organization, where the NPS scheme is not active. Therefore, requested you to kindly suggest some solution to me. Also requested to suggest whether I can keep continuing my NPS account, if yes, kindly suggest the way for that. what to do for that? In this regard a tried a lot to know about it but still did not get any response. I shall be grateful to you if you could kindly provide a solution to my problem.

Ans: You can continue the PRAN under the All Citizen of India sector. You need to submit the Inter Sector Shifting (ISS-1) Form to the POP-SP of your choice. Subsequently if you change your job and join an organization registered under NPS, you can continue the PRAN by submitting the CS-S3 form by the Corporate which you join.

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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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Answered on Mar 07, 2023

Question by Poornachandrarao - Feb 28, 2023

How do I know my old investments made to save tax over a period of a decade as mutual funds are sending only in the form of common letters which are not available due to mobility of my postings.

Ans: You can check if you are receiving the NSDL Common Account Statement (CAS) or you can trigger a CAS statement from CAMS or Karvy. However, this would be only if your PAN Number was updated for the MF schemes.

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Answered on Mar 07, 2023

Question by AGB - Feb 25, 2023

Hi, My present age is 48 yrs, my son's age is 10 yrs. I wish to have a wealth value of 25 Lacs for my son in coming 10 years. Under which child policy should I invest yearly and how much

Ans: Your query is not very clear. To create a wealth value of Rs 25 lakh, it would depend on the return that you get. At a 6% return, you need to invest Rs 15,255 per month. Similarly, at 8% return, you need 13,665 per month. At 10%: Rs 12,204 per month; and at 12%: Rs 10,867 per month.
I suggest you use an SIP in a children's gift fund or a dynamic asset allocation fund like ICICI Pru Balanced Advantage Fund

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Answered on Mar 07, 2023

Asked by Anonymous - Feb 03, 2023

Dear Sir, Am kuldeep running freelance business last 8 years my income is cross 20+ lakh should i opt for GST and how do i monitor saving if GST filling and CA fees goes high and if run short of savings due huge committed for loans EMI

Ans: You would need to register for GST if you cross the threshold.
Today, technology makes it easier for govt agencies to get this information. You run a larger risk of penalties in case non compliance is discovered by the department. Anyways you can raise bills with GST and collect it from your clients.

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Answered on Mar 07, 2023

Asked by Anonymous - Feb 22, 2023

Our house is in the name of my father and mother and i am only the child.My mother died in 1998 and my father in 2022. My father had made registered will whereby i am the beneficiary and executor. I stay in Maharashtra and got property tax transmitted in my name. Do I need to go to sub registrar office and get sale deed transmitted in my name ( or my name and my wife name) or not needed. We have two daughter . Myself and my wife will be making registered will .if i do not get property transferred in my name or myself and wife name will my daughters face any problem after we both die.

Ans: It is always better to get the property transmitted in your name with registration at the registrar's office. This will avoid difficulties for your family.

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Answered on Mar 07, 2023

Question by Tamojit - Feb 23, 2023

Good afternoon sir! This is Tamojit from kolkata my salary 3lkh pa. I have on Daughter 3.5yrs and deposit on behalf of 2000 pm sukanya samriddhi yojana and 2000 pm LIC give me advise how what are next step for my daughter future

Ans: I suggest you start an SIP in a children's gift fund or a dynamic asset allocation fund like ICIC Pru Balanced Advantage Fund. If you are ok with taking a higher risk, you can also use an equity fund for the SIP.

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Answered on Mar 07, 2023

Question by Gurumukh - Jan 28, 2023

I am having two demat account.in one account is joint account ,in which holder is myself and my wife . second account my wife is solo account holder. so can I transfer joint account to solo wife account.pl advice.

Ans: If your wife is the sole holder in both, there is no implication. However, if you are the first holder in the joint account- you can transfer the shares, but it can be considered to be a gift or sale for consideration based on how you want to execute it.

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Answered on Mar 07, 2023

Asked by Anonymous - Feb 18, 2023

I am planning to sell my Flat. The circle rate of the locality comes to 37 lakhs, while the deal is likely to be around 35-36 lakhs. Will the amount payable for Registry of the property will be calculated on 37 L or actual sale value ? Is the entire payment transaction to be carried out through bank only ?

Ans: The registration duty is typically at a minimum of the guidance value/circle rate. The entire payment can be carried out through a bank transfer/cheque or by Demand Draft. You should take the opinion of an expert on property matters.

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Answered on Mar 07, 2023

Question by AJITH - Mar 03, 2023

What is the best investment plan for myself 44 yrs old having only started one sip monthly since last month for rs 2500.iam to retire at the age of 60.have 2 children aged 12 and 7.two daughters. Pls suggest.

Ans: The data you have given is not sufficient. Hence a generic response to you:
- Ideally, you should do a financial plan to map all your needs including that of your daughters education/marriage and your retirement at least.
- Invest as much as you can on a monthly basis. Your retirement is not really far away and needs are also likely to overlap with your retirement age.
- Do take sufficient life cover since you have dependents.
- SIPs are a good way to invest. You can invest in a combination of large and midcap funds. As you come closer to retirement or your needs, you can derisk your investments.
- Take care of your tax planning and make investments that will both optimise your tax and grow your wealth.

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Answered on Mar 07, 2023

Question by yashpal - Mar 04, 2023

SIR I AM A SR. CITIZEN AND HAVING A PLOT IN JOINT NAME WITH MY WIFE. WHEN WE HAD PURCHASED THE PLOT WE HAVE EQUALLY GIVEN THE PAYMENT TO SELLLER. NOW I AM SELLLING THE PLOT , MY QUERY IS WHETHER WE SHOULD GET SALE PROCEED TRANSFERRED EQUALLY IN OUR ACCOUNTS (ME AND WIFE). WHAT WILL BE THE TAX IMPLICATION. SHOULD WE BOTH SHOW THE SALE PROCEEDS IN OUR IT RETURNS. MY WIFE IS NOW HOMEMAKER BUT FILING RETURN REGULARLY.

Ans: If the property was registered in joint names, then you can take the same equally in both account. However, keep in mind that if the source of funds at the time of investment was not out of your wife's earnings, it can trigger the provisions of clubbing income with you.

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Answered on Mar 07, 2023

Question by Jatinder - Mar 06, 2023

Hello sir, Im a pvt lecturer (age 29), earning 30,000 p.m. I hvn't invested yet. Where & how much should I invest ?

Ans: Ideally one can invest about 20% of your income. You dont need tax saving investments now, and hence you can start investing in SIPs. A more conservative way to start since this would be your first time is to invest into a dynamic asset allocation fund like ICICI Pru Balanced Advantage Fund.

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Answered on Feb 23, 2023

Question by valsson - Feb 14, 2023

I am Professor in College, As per Supreme Court direction for higher EPFO pension. How can I submit the application. I am already EPS member since 1995. At present 12% of 15k is debited as EPF amount. How can I opt to get higher pension as per Hon Supreme Court directions. No format of applications are seen on EPFO portal for the same. Please Guide

Ans: You can get it from the nearest EPFO office. The online link on the EPFO portal was not working when I tried.

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Answered on Feb 23, 2023

Question by VENKATARAMANI - Feb 07, 2023

sir, both my mother (age 83) and wife (62), aadhaar and PAN not matching. PAN COORECTION as per aadhaar applied. they are rejecting and say this is not matching or that is not matching. for old people, why they cannot little more helpful?

Ans: The department would like backup proofs for name change, etc. Change of PAN is easier. I am assuming that you had given proofs for Aadhaar as well based on which the same would have been updated. You can provide the same proofs.

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Answered on Feb 23, 2023

Asked by Anonymous - Feb 11, 2023

Hi, i will be 45 years in April this year. I have 2 kids one 14 years and other 8 years. I already have a term policy of 50 lakhs. I know it is very less. My question is how much more i should take and how many years of life coverage should it be?

Ans: If your family is fully dependent on you, it is very important to take an appropriate cover. At first sight, your cover looks very less. You at least need to take as much cover to cover so that the capital that you generate will take care of your family expenses for their lifetime (or children become independent) plus their needs like education. If you are unable to assess, pls use a financial planner. You can use a term cover so that you are not overburdened on the premiums. However, term covers are pure risk covers and there is no maturity value that you get.

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Answered on Feb 23, 2023

Asked by Anonymous - Feb 10, 2023

Hi, I am a regular follower of this column. I am working in a MNC. Currently my month salary:100000 My Investment: Mutual Fund SIP:20000 p.m(all in equity) Children Fund:1 lakh p.a (UTI CCF) PPF:1.50 lakh p.a P.F:14000 p.m NPS:6000 p.m Avg monthly expenses:30000. I have a kid age 6..My age is 39.. Is my Investment plan ok? Please let me know. Keep my name confidential.

Ans: You have done a pretty good distribution. Few inputs:
- I would think that you could take a slightly higher amount of risk, for a higher return and increase your SIPs by at least 5K per month. If you have no other option, you can reduce your PPF contribution.
- Not clear if your NPS is the one through salary or the investment under Sec 80ccd(1)- ie through salary; or 80ccd(1B)- investment for deduction under sec 80c upto Rs 50K. Suggestion is that you take advantage only till such limit that you get a tax deduction. You can use an equity-oriented fund there as well.
- Pls take care of your full tax savings if you are filing taxes in the old regime.
- I have assumed that you are comfortable only liquidity and looking for long term. If not, you would need to plan some investments towards the same.

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Answered on Feb 23, 2023

Question by Yogeshwar - Feb 08, 2023

Sir As present I am PSU employee and eligible for EPS-95 PENSION.At present supreme court directed to company for the extra pension and told to employee to opt for higher pension option . What will be your suggestion shall I got for corpus or pension as I feel how.much pension will be given also not clear by the EPFO.

Ans: You should go ahead based on your need for monthly income. Typically, the EPFO interest rates are higher than the normal rates of interest.

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Answered on Feb 23, 2023

Question by Mandar - Jan 10, 2023

Can a registered gift deed be challenged in the court of law.

Ans: A gift deed as per my knowledge can be challenged on various grounds like consent was not free for a period of 3 years from the date of execution or date when the donee finds out about it. It is better to confirm this with a lawyer.

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Answered on Feb 15, 2023

Question by Nitiksha - Feb 14, 2023

Why invest through Mutual Funds & not directly in stocks or bonds?

Ans: First of all, bonds and stocks are not comparable. You can look at investing directly in bonds VS debt mutual funds. Similarly, stocks Vs Equity Mutual Funds. If you have the expertise to invest in stocks or are able to evaluate the credit risk, you can directly invest into stocks or bonds respectively. Otherwise, you can give it to a fund manager who is likely to do a better job than most retail investors. Further, mutual funds give you benefit of diversification which you would otherwise need to do on your own. Mutual funds also offer liquidity, smaller size and it is easier to invest through STPs. Based on our experience, we find that retail investors tend to lose out much more than the fund management fees that they end up paying.

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Answered on Feb 10, 2023

Question by Binda - Feb 02, 2023

Hi , I am 62 yrs old and paying for tuition fee to University in USA and for payment transfer thru bank TCS amount is also be charged . How to avail rebate of education fee and TCS amount . What is the limit for education fee to avail the rebate . what about money being transferred for the living expenses and again TCS being charged by Bank . Pl advise as application to claim the rebate .

Ans: TCS for educational purposes is 0.5% (if funded through an educational loan from a financial institution) or 5% (without loan) of the amount exceeding Rs 7Lakh.

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Answered on Feb 10, 2023

Question by R - Feb 05, 2023

I am 83 years old. My pension and FD interest is Rs.11 lacs per annum How my tax will ne calculated in two methods? ( I have Sec 80C investment Rs,1,5 lacs , Sec.80 TTB Rs.50000 ,Std deduction in pesion Rs.50000)

Ans: The old regime will be better for you, also considering the super senior tax slabs under the old tax regime.

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Answered on Feb 10, 2023

Question by Yogesh - Feb 05, 2023

I have 200000 saving in 80c and 80ccd and 70000 housing loan interest in sec 24 and my gross is 15l which regime is better

Ans: The new regime maybe better for you. Note that you are exceeding the limit under 80c

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Answered on Feb 10, 2023

Asked by Anonymous - Feb 01, 2023

My CTC is 28 lakhs and I am still continuing with old tax regime, will it be beneficial to move to new one. If Yes, what amount will I save ?

Ans: If you can take advantage or all deductions like Sec 80C, 80D, NPS, and Home Loan Interest among others, the old tax regime will benefit you. The savings would need to be computed based on the deductions you will be availing.

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Answered on Feb 10, 2023

Question by Ujjwal - Feb 01, 2023

Hi,My CTC is 25 L and Variable is 4.12 L. Variable is separate. Please suggest tax slab

Ans: You will be in the 30%+surcharge tax slab.

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Answered on Feb 10, 2023

Question by Ashwani - Feb 01, 2023

Again will the tax slabs under old regime continue to be same? What will be standard deduction now.?

Ans: Tax slabs under the old regime continue to be the same. The standard deduction is Rs 50,000

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Answered on Feb 10, 2023

Question by Ganapathy - Feb 02, 2023

Is 80 DDB allowed in new tax regime

Ans: Not allowed

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Answered on Feb 10, 2023

Asked by Anonymous - Feb 02, 2023

mr anil, Is there any issue if father transfers or deposit 10 lacks as a financial help for my existing home loan or car loan payment?

Ans: You can choose to treat it as a gift or a loan from your dad depending on whether you need to return it. There is no gift tax between relatives.

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Answered on Feb 10, 2023

Question by Ghansham - Feb 03, 2023

Earlier in the scss account one could invest only 15 lakhs, but now the limit for investment has been raised to 30 lakhs , then can a person who invested 15 lakhs some years back can such a person now invest in scss account another 15 lakhs from his savings account.

Ans: Yes. You can invest Rs 15 lakh more.

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Answered on Feb 10, 2023

Question by Rajesh - Feb 03, 2023

For Super senior citizen, what is impact in the new regime?

Ans: The budget has no separate slabs for senior or super senior citizens. Hence, you would need to check the old regime tax slabs (for senior citizens) along with any deductions that you would be availing, with the new tax regime (same for all citizens) and choose what is best for you.

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