My son graduated with a BE CSE and was offered a job at TCS - Why hasn't he received his onboarding letter yet?

Ans: If you do not have a GST number, you cannot claim GST input tax credit (ITC) or get a refund of GST paid on purchases. However, depending on your situation, there are some ways to manage taxes:

1. If You Are a Salaried Employee
You don’t need a GST number to file income tax returns.
You can claim deductions under Section 80C, 80D, HRA, and other sections to reduce taxable income.
If TDS is deducted, file ITR to claim excess tax refund.
2. If You Are a Business Owner or Freelancer (Without GST Number)
If your turnover is below Rs 20 lakh (service) or Rs 40 lakh (goods), GST registration is not mandatory.
You cannot charge GST on invoices or claim input tax credit on business expenses.
Instead, show expenses as deductions under income tax rules.
3. If You Paid GST but Do Not Have a GST Number
If you have paid GST on any purchase, but you don’t have a GSTIN, you cannot claim ITC.
However, you can include those expenses as business costs to reduce income tax.
4. If You Are Eligible for GST Registration
If your business turnover exceeds the GST threshold, register for GST to claim ITC.
If you voluntarily register for GST, you can claim ITC on future purchases.
5. If You Want a GST Refund Without a GST Number
GST refunds are usually only for registered businesses.
If you are an exporter or have made a zero-rated supply, you need a GST number to claim refunds.
If you were wrongly charged GST, you can request the seller for a refund or avoid paying GST on exempted items.
Final Insights
Without a GST number, you cannot claim GST input tax credit.
For salaried employees, claim deductions under income tax laws.
For businesses, show expenses to reduce taxable income.
If eligible, register for GST to claim ITC and get refunds.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: You have a strong financial foundation with a good salary, no loans, and multiple properties. Since you are new to stocks and mutual funds, a structured approach will help secure your family's future. Below is a complete financial plan considering your goals.

1. Emergency Fund
Keep at least 6 to 12 months of expenses in a separate account.
Since your monthly expenses (India + abroad) are around Rs 60,000, maintain Rs 5-7 lakhs in a liquid fund or fixed deposit.
This will protect you from unexpected job loss or medical emergencies.
2. Health Insurance
Since you and your family don’t have health insurance, getting coverage is important.
Opt for a Rs 10-20 lakh family floater health insurance plan.
Choose a separate policy for your parents if they are dependent on you.
A good insurance policy will reduce the risk of medical expenses affecting your savings.
3. Investments for Children’s Education & Marriage
For Son 1 (Age: 3) & Son 2 (Age: 6 months)
Higher education costs in India and abroad are rising.
You need at least Rs 50-80 lakhs per child for higher education after 15 years.
Marriage expenses may require Rs 20-30 lakhs per child after 25 years.
Investment Plan:

Invest Rs 25,000 per month in a mix of equity mutual funds.
Split between large-cap, mid-cap, and flexi-cap funds.
Increase investment by 10% every year to match inflation.
Invest in regular mutual funds through a Certified Financial Planner (CFP) for expert guidance.
4. Future Property Purchase (Every 5 Years)
Buying a property every 5 years requires structured saving.
You should accumulate at least Rs 50-80 lakhs in 5 years for the next property.
Investment Plan:

Set aside Rs 40,000 per month in a combination of debt and equity funds.
For short-term (5 years), invest 60% in debt funds and 40% in equity funds.
This ensures capital safety while still getting growth.
5. Building Future Passive Income (Rs 75,000 to Rs 1 Lakh per Month)
To generate Rs 1 lakh per month, you need a corpus of Rs 2-3 crore.
Since you are just starting, a mix of growth and income-based investments is necessary.
Investment Plan:

Allocate Rs 50,000 per month to mutual funds with dividend options.
Invest in a mix of high-quality debt and equity funds for steady returns.
Increase investment as your salary grows.
6. Retirement Planning
You haven’t planned for early retirement, but financial freedom is important.
You need Rs 5-7 crore to retire comfortably by 55-60 years.
Investment Plan:

Invest Rs 50,000 per month in equity mutual funds.
Increase SIP amount as your income increases.
Later, shift investments to safer options like senior citizen schemes and annuities for retirement income.
7. Buying a Car (2nd Hand Car Soon)
If planning to buy in the next 6-12 months, keep the amount in a fixed deposit or liquid fund.
For a Rs 10 lakh car, set aside Rs 1 lakh per month for the next 10 months.
Avoid car loans since you have good savings potential.
8. Life Insurance Protection
If you don’t have term insurance, buy a Rs 2-3 crore term plan immediately.
This ensures your family is financially protected.
9. Investment Strategy for Beginners
Since you are new to stocks and mutual funds, start SIP investments in regular mutual funds.
Avoid index funds and direct plans, as actively managed funds provide better risk-adjusted returns.
Work with a Certified Financial Planner (CFP) to select the best funds.
10. Reviewing & Monitoring Investments
Review investments every 6 months with a Certified Financial Planner.
Rebalance asset allocation based on market conditions.
Increase SIP amounts as income grows.
Final Insights
Your current financial position is strong, and you have the potential to create long-term wealth.
A structured investment plan in mutual funds will secure your family’s future.
Protect your family with health and life insurance immediately.
Set clear financial goals and invest consistently.
Avoid unnecessary loans and focus on building assets.
Work with a Certified Financial Planner for better financial security.
Best Regards,

K. Ramalingam, MBA, CFP,
Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: For your mother to claim capital gains tax exemption under Section 54 of the Income Tax Act, the property must meet certain conditions:

Key Conditions for Section 54 Exemption
Ownership: The new property must be purchased in your mother’s name.
Timeframe: Purchase should be within 1 year before or 2 years after the sale of the original property.
Type of Property: Must be a residential property in India.
Can She Register the Property in Your Name?
No, she cannot claim the tax exemption if the property is directly registered in your name.
The exemption is strictly allowed when the new property is purchased in the name of the seller (your mother).
Alternative Option: Gift Deed After Purchase
Your mother can purchase the property in her name and claim the exemption.
After the purchase, she can execute a gift deed to transfer the property to you.
A gift from mother to child is tax-free under the Income Tax Act.
However, you may incur stamp duty charges on the gift deed, depending on your state’s rules.
Why This Approach Works
The Income Tax Department recognizes the exemption because the initial purchase was in your mother’s name.
The gift deed is treated separately and doesn’t affect her eligibility for the exemption.
Final Suggestion
Buy the property in your mother’s name to claim the exemption.
Afterward, transfer it to you through a gift deed to avoid capital gains tax for both of you.
Consult a tax expert for proper documentation and compliance.
This ensures tax savings and a smooth transfer of ownership.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Hello
Since you have already joined college I assume you will like to finish your commerce degree before exploring career in Army. In the final year of your Degree you will have the option of applying in CDS (Combined Defence Services Exam) that will pave the way for you to join Army. CDS is conducted by UPSC twice a year (notifications come out in Jun/Jul & Dec/Jan in leading newspapers. CDS entails a written exam followed by SSB interview. Age limit is 20-27 years. You will have the option of joining Army in permanent or short service commission as per your choice followed by merit in exam. Main preparation needed is for SSB interview.
Best of Luck !!

Ans: Dear Anonymous,
Then wait for a few years...things may just get better in those few years and your parents may start to accept the guy. It's not like you need them give you a nod right away for marriage, right? So, wait up...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Ans: Dear Anonymous,
You simply talk to your brother's wife and tell her how her behavior is making you feel. Also, not many people understand that sitting at the backseat gives different roles to the one who is driving and to the one who is sitting behind. So, it may just be a matter of expressing and being clear.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Ans: Dear Anonymous,
Ask the 'guy' to step in and do his bit to talk to your family. If they are able to appreciate what you appreciate in him, maybe things can work.

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

Ans: Your portfolio has a good mix of equity funds. You have diversified across market caps. However, there is room for improvement. A structured approach can enhance returns and reduce risks.

Strengths of Your Portfolio
You have a strong allocation to mid-cap and flexi-cap funds. These have high growth potential.

Large-cap funds provide stability in your portfolio.

A sectoral fund can give additional growth in specific market cycles.

ELSS investment provides tax benefits. Even though allocation is low, it helps in tax savings.

Areas for Improvement
High Exposure to Index Funds
Index funds make up 43.93% of your portfolio. This is too high.

Index funds do not outperform the market. They only match it.

Actively managed funds give better returns over time.

Fund managers adjust holdings based on market trends. Index funds lack this flexibility.

Reducing index fund allocation can help improve returns.

Mid-Cap and Large & Mid-Cap Allocation
Mid-cap funds are 21.9% of your portfolio.

Large & mid-cap funds are 11.78%. This combination gives good growth.

These funds need long-term holding for better returns.

You can continue holding them, but periodic review is necessary.

Low Allocation to Large-Cap Funds
Large-cap funds are only 7.07%.

Large-cap stocks provide stability in downturns.

You may increase allocation to maintain a balanced portfolio.

Sectoral Fund Allocation
Technology sector fund is 5.61%.

Sectoral funds are high-risk. They perform well only in certain cycles.

If technology sector underperforms, it can drag your returns down.

Reducing exposure may help in risk management.

No Allocation to International Funds
Your portfolio has 0% in global funds.

International funds provide geographic diversification.

This helps in reducing risk from local market downturns.

A small allocation to international funds is recommended.

Suggested Portfolio Rebalancing
Reduce index fund exposure. Shift to actively managed funds.

Maintain mid-cap and flexi-cap allocations for long-term growth.

Increase large-cap allocation for better stability.

Reduce sectoral exposure to manage risk.

Add a small portion to international funds for diversification.

Risk Management and Portfolio Review
Equity investments need long-term commitment.

Review your portfolio every six months.

Rebalance if any fund underperforms consistently.

Ensure you have adequate health insurance for financial security.

Finally
Your portfolio is structured well, but small changes can improve returns.

Reducing index funds will enhance growth potential.

A better mix of large-cap and global funds can reduce risks.

Keep reviewing your investments and adjusting as needed.

A disciplined approach will help you achieve long-term financial goals.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Your goal is ambitious but achievable. You have a stable income and good savings. With the right investment plan, you can build wealth.

Understanding Your Current Financial Position
You earn Rs. 10 lakh per year. This gives good savings potential.

You have Rs. 15 lakh in savings. This is a strong base to start.

You have no loans or liabilities. This gives flexibility in investing.

You want Rs. 5 crore in 15 years. This needs disciplined planning.

A structured investment strategy will help you achieve this.

How Much Should You Invest?
You need to invest aggressively for wealth creation.

A mix of equity and debt investments will help balance risk.

Invest a large portion in equity for long-term growth.

Increase investments every year as your income rises.

Review your portfolio regularly to stay on track.

Building an Investment Portfolio
Actively managed mutual funds can generate higher returns.

A mix of large-cap, mid-cap, and small-cap funds is ideal.

Equity mutual funds should form a major part of your portfolio.

Debt investments can provide stability in the long run.

Avoid index funds, as they lack flexibility and active management.

Role of Savings and Emergency Fund
Keep at least six months of expenses in an emergency fund.

This fund should be in liquid investments for easy access.

Do not use retirement investments for short-term needs.

Maintain a separate health fund for medical emergencies.

Retirement Planning Considerations
Inflation will increase expenses in retirement. Plan accordingly.

You need a withdrawal strategy for a stable income after 50.

Medical costs will rise. Health insurance is essential.

Continue investing even after retirement for wealth preservation.

Insurance and Risk Management
A term life insurance policy is necessary if you have dependents.

Health insurance is critical for financial security.

Avoid investment-cum-insurance plans as they have low returns.

Separate insurance and investment for better financial growth.

Finally
Your goal is achievable with disciplined investments.

Equity investments should be the core of your portfolio.

Increase SIP amounts as your income grows.

Keep reviewing and adjusting your strategy regularly.

A well-planned approach will help you retire comfortably at 50.

Stay focused and committed to your financial plan.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment