Answered on Mar 31, 2023

Asked by Anonymous - Mar 07, 2023

Dear Sunil Lala Sir, I am already 47 Years old with Housing Loan about 1 Crore and wanted to have some retirement plan in 10 years where i can get min 15K to 20K per month , please suggest any guaranteed income and ready to invest 1 Lakh per anum for 5 to 7 years.

Ans: Hello, For long term investing we use Mutual Funds as an asset rather than a guaranteed plan as guaranteed plans over a period of 10-15 years will yield 6-7% whereas a balanced Mutual fund portfolio can yield upto 10-14%. If you want 20K per month as your monthly income after 7 years you need to do an SIP of 30-35K per month for 7 years

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Answered on Mar 31, 2023

Question by PV - Mar 17, 2023

how to get best monthly income for 5000000 rs

Ans: Make a balanced portfolio using mutual funds and start with an SWP of 5-6% depending on your needs and on the portfolio that you create in terms of risk and reward

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Answered on Mar 31, 2023

Question by Khader - Mar 27, 2023

Do pension holders need to file IT returns?

Ans: Yes if your pension is above the IT Filing Limit.

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Answered on Mar 31, 2023

Question by Krutika - Mar 29, 2023

I want to invest monthly 10000 in sip, kindly advise

Ans: The funds will depend on your future requirements and the time duration of your investment.
Generally for a younger age group who has a time horizon of 7 years + , one can invest in small caps, mid caps and thematic funds.

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Answered on Mar 31, 2023

Question by Mansoor - Mar 30, 2023

Hi Sir, I am earning 30L in a year, aged 46 yrs, want to start investment in SIP & in MF to plan my retirement .. Pls guide me in which SIP & MF to invest to get good returns

Ans: Firstly i would suggest you to earmark a particular amount every month from your salary for MF SIP.
Then make a basket of funds such as emergency funds, short term , mid term and long term funds.
The break up can be 5L - 10L in emergency funds kept aside and post that the % can be 20% in small caps , 20% in mid caps, 20% in multi caps, 10% in thematic funds, 20% in large caps and 10% can be optional. Email me for a lenghty discussion on this topic

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Answered on Feb 16, 2023

Asked by Anonymous - Feb 07, 2023

Dear Gurus, I have a SBI max gain Home loan (17Lakh) overdraft facility with monthly emi of 20000, but I have parked the entire amount in the HL balance and not being charged any interest, so the auto EMI deducted from SBI savings account, I manually transfer it back to my savings account every month....is that OK to do? considering I may have to buy any new property in future & during that time I can used this parked money OR should I close the Home loan & stop the auto EMI?

Ans: You can continue with SBI Maxgain & withdraw when you need money for purchase of new house

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Answered on Feb 16, 2023

Asked by Anonymous - Feb 14, 2023

hi, I am G C , I am working in a PSU BHEL since Mar 2010.Birth Month is May 1987.Having a daughter of 8 yrs old. Not much ancestral property. Current Basic+DA is 65000.Company contribution in PF is 8L approx. Only NPS of 50000 annual is investing since 7 yrs for pension.As still 24 years is there for retirement, considering future instability with Govt scheme & health, should I go for higher pension EPS-95 or stick with EPF only

Ans: EPF

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Answered on Feb 16, 2023

Question by Rajesh - Feb 14, 2023

I have bought a house for 27 Lacs in year 2013-2014, I sold it at 1.58cr in year 2022-2023, then I bought a house for 1.12cr in year 2022-2023, let me know if I sell the house at 1.20cr, will this attract capital gain tax?

Ans: Yes

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Answered on Feb 16, 2023

Question by Ravindra - Feb 16, 2023

The sell my property and got profit. I want to invest this profit in Long Term Capital Gain Bonds for 5 years. ( As per IT rules, it should be invested within 6 months from date of sell) Is it necessary to keep this profit in separate account in bank (Long term capital gain account) OR to keep it in normal saving a/c.?

Ans: It can be kept in your savings account

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Answered on Feb 16, 2023

Question by Raghunadh - Feb 06, 2023

I have already invested 15lacs in SCSS with 7.4% interest rate. Can I convert it to 8% interest rate? Can I invest another 16lacs in the sane scheme?

Ans: No you cannot convert to 8 % however you can add further 15 Lakh

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Answered on Feb 16, 2023

Asked by Anonymous - Feb 06, 2023

i bought a property for 2.5 cr in the month of aug and for which i took a loan for 1.5 and rest i pooled money from my investments as downpayment.now i had another property which i have sold for 1.3 cr in dec. now i want a clarification that the capital gains from my sale can be booked in the property purchased in the same financial year or should i use the same money for house construction as the registration for my sale took place in dec, awaiting for your advice - shiju

Ans: You can have a set off of capital gains on the property sold as you have bought a property in the same year

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Answered on Feb 16, 2023

Question by Suresh - Feb 07, 2023

Is 50000 rebate on FD interest to Sr. Cit available in new system

Ans: No it will not be available in new system

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Answered on Feb 16, 2023

Asked by Anonymous - Feb 03, 2023

For a 50 year old who earns 45 L per year. How much should i invest to get 1 lakh per month after retirement

Ans: If the retirement is 60 years than you need to do SIP of 55000 for next 10 years in an equity fund

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Answered on Feb 16, 2023

Question by Checker Box - Jan 14, 2023

I need a corpus of 20-30 lakhs for buying a car in next 2-3 years, I can start an SIP of 30000. Can you please help me which fund I should invest in? Is this sufficient to achieve my goal?

Ans: It's not sufficient to achieve your goal of 30 Lakh in 2-3 years with SIP of 30000

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Answered on Feb 13, 2023

Question by Gayathri - Feb 10, 2023

I took a joint home loan for apartment along with by husband in 2018 and were paying pre emi till 2021jan ,in Feb it got converted to emi , possession and registration is yet to be completed by the builder . In this case , how can I claim exemption in this fy ? For emi and pre emi ?

Ans: EMI tax benefits can be claimed from the date the EMI starts, the pre EMI tax benefits are as per IT rules

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Answered on Feb 13, 2023

Question by Sandeep - Feb 11, 2023

I am an employee of canara bank & have availed a home loan in Canara Bank .. my monthly EMI is 25000/- , which gets adjusted to only principal and monthly interest is 31000/- but gets accumulated but not demanded now .. only upon completion of 270 months & principal fully paid , then accumulated interest for those 270 monthly is demanded for payment for further 90 months .. so can i claim tax exemption for 2 lakh interest yearly ..!

Ans: Please attach the copy of the loan sanction letter otherwise it's a grey area to answer

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Answered on Feb 13, 2023

Question by Santosh - Feb 10, 2023

Aadhar card is to be linked to PAN. But aadhar is not required by NRI as per aadhar act. What to do in this case.

Ans: It is not mandatory for NRI to link Aadhar with PAN

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Answered on Feb 10, 2023

Question by Kannan - Feb 07, 2023

For claiming Home Loan Income Tax exemption, the property should be in the name of tax exemption claimer or not? What is the rule for home loan tax exemption?

Ans: The property should be on the person availing loan

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Answered on Feb 10, 2023

Question by Srikanth - Feb 10, 2023

CTC 16.5L. Under 80C saved 1.5L. Pls suggest which tax regime is suit for me old or new.

Ans: New regime

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Answered on Feb 07, 2023

Question by Girish - Feb 05, 2023

What should i do for long term investment

Ans: Invest in equity Mutual Funds

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Answered on Feb 07, 2023

Question by AKSHAY - Feb 03, 2023

FOR SENIOR CITIZEN SAVING SCHEME , THE MAXIMUM AMOUNT ONE CAN INVEST IS RS. 30 LAKHS. CAN ONE INVEST RS.30 LAKHS IN EACH FINANCIAL YEAR?

Ans: No

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Answered on Feb 04, 2023

Question by Atul - Feb 02, 2023

Is new tax regime compulsory? 30% tax above 15 lakh is taxable income or no concession for savings under different sections like 80c, 80ccd, 80d, etc.

Ans: New tax regime is optional. Chapter VI deductions ( 80 c etc) are not allowed under the new tax regime.

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Answered on Feb 04, 2023

Question by Ravi - Feb 02, 2023

Sir my CTC is 40 lac p/a. Should I continue with Old tax regime or opt for New?

Ans: It depends upon individual circumstance as an example HRA, interest on home loan & chapter VI deductions are not allowed in the new tax regime.

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Answered on Feb 04, 2023

Answered on Feb 04, 2023

Question by Hitesh - Feb 02, 2023

Any changes in LTCG & STCG on gains from investments?

Ans: In case of investment made in Market Linked Debentures, upon Sale all gains will henceforth be treated as Short Term irrespective of the period of holding.

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Answered on Feb 04, 2023

Asked by Anonymous - Jan 31, 2023

Sunil sir, What are the career prospects in Financial Planning after completing the CFP Certification?

Ans: It depends what type of career you want to choose

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Answered on Feb 04, 2023

Asked by Anonymous - Jan 31, 2023

Sunil Sir, What is better, buying a house or investing in mutual funds?

Ans: If you are buying second home than investment in Mutual Funds would be a better choice

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Answered on Feb 04, 2023

Question by surya - Feb 01, 2023

what tax rate is applicable on profit from share market

Ans: 10% Long term capital gains i.e where you sell your shares after one year and Short term capital gain is 15%

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Answered on Feb 04, 2023

Asked by Anonymous - Feb 02, 2023

- Sunil sir, What is the time period for long-term finance funds?

Ans: I would say minimum 5 to 7 years but if you are invested for further than yes you make good returns

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