I am 67 years old having total income of 6.5 lakh from bank interest and sale of shares . Can I submit 15 H to the bank. Can I file ITR 1. Thanks Mithilesh Kumar

Ans: Dear Rakesh,
She possibly does not want to mess with her married life.

Respect her choice if she is staying away; it must be because of a good reason. Maybe her spouse found about about you and her. A parallel relationship outside of marriage is filled with a lot of complications; maybe she is unable to deal with all of that...it is difficult...

So respect her choices in this matter...

All the best!

Ans: Dear P,
I am truly sorry for your loss...

I am not a dreams analyst or someone who interprets dreams. I can only make a few guesses from what you have shared and suggest something that will guide you to be more positive and happier.
Dreams are a manifestation of deep desires, fears, dark memories, happier memories...dreams basically can indicate what lies deep within the subconscious mind. It's possible from what you share that 'LOSING' your wife has triggered many more situations where you had lost someone or you fear that you might lose someone or something. Maybe that explains the dream of you going to office without paper work...

Losing someone dear is a very difficult journey and it can show up in different ways. The only way can process grief is through time and an understanding that nothing is permanent in life. It's a momentum of give and take, having and losing...Maybe if you are able to consciously adapt and accept this, over time your subconscious mind starts to change and adapt as well. Again, I will reiterate: You certainly will still miss the person and feel sad; it's just that you will start to miss differently as the acceptance will allow you to graciously be in a space of understanding. Difficult BUT Possible!
Also, practice the Art of Gratitude. Being thankful for every little thing, lets you be in a positive space allowing you to be at peace more often.

These are only suggestions from what I could gather from the information that you have shared and not an analysis or interpretation of your dreams.

All the best!

Ans: It is important to consult a healthcare professional or a registered dietitian for personalized dietary recommendations based on individual health status and medical history.

Ans: Meals for diabetics should consist of high fiber foods like vegetables, whole grains, fruits, beans, etc. and protein rich foods like low fat dairy products, eggs, lean meat, nuts, etc. Samosa and Kachori are deep fat fried foods which will increase harmful trans fats in your diet and increase calorie intake. Upma and Poha can be had in moderate quantity provided it contains vegetables, pulses or vegetables to blunt the glycemic index caused by the cereal. A good breakfast for type 2 diabetes should include complex carbohydrates, healthy fats and proteins to help regulate blood sugar levels. Some options include oatmeal with nuts and berries, whole grain toast with avocado and scrambled eggs, or a smoothie with fruits, vegetables, and protein foods like low fat dairy products or beans/pulses. It's also important to drink plenty of water and avoid sugary drinks. It's always a good idea to consult with a dietitian or healthcare provider for personalized advice.

Ans: The process of managing one's weight in order to reach or keep a healthy body mass index (BMI) is known as weight management. A mix of regular exercise, a balanced diet, and lifestyle modifications may be necessary for this. Before beginning any weight-management program, it's crucial to consult with a healthcare provider, particularly if you have any underlying medical concerns. Follow a balanced diet by including salads and vegetables in both meals to increase fiber consumption, protein rich foods like milk and milk products, dals, legumes, soya, millets, nuts , seeds, cereal -pulse combinations, eggs, chicken, fish to increase metabolism . Avoid high fat and high carb foods and remain within nutritional budgets. Ensure regular exercise.

Ans: Systematic Investment Plan is the best way to build a corpus. This also instils discipline in investing.

When going for a mutual fund, 3 years is short duration. Always invest for a longer term, say 5 - 7 years or may be even longer to make best use of the market fluctuations.

Choice of Mutual fund depends on the purpose and risk appetite.

If you are old and are a dependent (Low risk appetite): At this point it is better to stick to debt funds/hybrid funds. These are less prone to the market fluctuations since their exposure to equities is very minimal.

There are other schemes as well other than MFs:

1.Senior Citizens Savings Scheme (SCSS) -8.20% p.a. ; Rs. 1,000(Min Investment)
2.Post Office Monthly Income Scheme (POMIS) - 7.40% p.a. ; Rs. 1,500(Min Investment)

Ans: To claim relief for arrears under Section 89 of the Income Tax Act, 1961, please follow these steps:

• Gather the necessary documents - Salary slips for the year in which the arrears were received and the years to which the arrears pertain. Form 16 for the year in which the arrears were received

• File Form 10E - Form 10E is mandatory for claiming relief under Section 89(1). It can be filed online at the e-filing portal of the Income Tax Department.

• Recalculate tax - Using Form 10E, recalculate the tax for the year in which the arrears were received and the years to which the arrears pertain.

• Adjust taxes - Adjust the taxes for the year in which the arrears were due.

• File revised return - If you have already filed your income tax return but omitted to submit Form 10E for claiming relief under Section 89(1), you can rectify this by filing an online revised return.

Ans: Firstly determine whether the unlisted shares are long-term capital assets or short-term capital assets.

If the unlisted share have been held for more than 24 months, then it’s a long-term capital asset taxed at a flat rate of 20% with the benefit of indexation. Else, it is short-term capital asset and the gains would be taxed at the rate of 15%, if securities transaction tax is paid at the time of sale. In any other case, it would be taxed as per your tax slab.

To minimize the tax liability on sale of unlisted share you can opt for the following strategies:-
• Staggered selling: Consider selling your unlisted/startup shares in tranches over several years to spread out your taxable income and avoid falling into a higher tax bracket.
• Set off Capital Gain with any other Capital loss incurred on the sale of any capital asset.
• Also, Section 54F of the Income Tax Act, 1961, allows you to claim exemption from tax on long-term capital gains arising from the sale of any capital asset (except residential property) if you reinvest the entire net sale proceeds in the purchase or construction of a new residential property in India.

Ans: I’m assuming that you have invested in equity-oriented funds since your 40s or 50s and the funds are now stabilized and generating consistent return in the range of 11-13% on annual basis. On the basis of above assumption, I assume your portfolio to last till your early 70s.

Regarding the goal of daughter’s marriage, I suggest you to utilize your SCSS at the time of the goal as interest rate might be lower by time and you will get very low returns for re-investing in SCSS in that time.

As per my analysis, withdrawing 40k monthly will easily cater to your requirement till the age of 75 years.