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Tejas Chokshi | Answer |Ask -Follow

Tax Expert - Answered on Jun 23, 2023

CA Tejas Chokshi has over 20 years of experience in financial planning, income tax planning, strategic and risk advisory, banking and financial products and accounting and auditing.
He is an information system auditor, a forensic auditor and concurrent bank auditor.
Chokshi, who has a master’s degree in management, audit and accounting from Gujarat University, has completed his CA from the Institute of Chartered Accountants of India.... more

Question by Rajendra on Jun 17, 2023Hindi

Money

I am 82 and wannt to gift good qty share to my 12 yrs old grand daughter for a period of 8 year , pl suggest Rajendra Bhatia

Ans: you can gift this thorugh a gift deed, which may be registered as well. The gifted shares would be part of the capital of your grand daughter and would be reduced from your capital on liability side and from shares on your asset side.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by RITESH - Apr 26, 2023Hindi

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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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Mutual Funds, Financial Planning Expert - Answered on Apr 29, 2024

Asked by Anonymous - Dec 23, 2023Hindi

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Hello, My 8-year-old daughter has received around Rs. 3,00,000/- as a gift from relatives, which is now in her account. I am looking to invest this amount for the next 10-12 years without any need for frequent monitoring. Please provide suggestions on this matter. Regards,

Ans: Congratulations on your daughter's generous gift! Investing this amount for her future is a wonderful idea. For a long-term investment horizon of 10-12 years with minimal monitoring, consider options like a mix of equity mutual funds or a balanced fund. These funds provide growth potential while spreading risk across different assets. Additionally, you might explore options like a Children's Mutual Fund or a Sukanya Samriddhi Yojana for specific benefits tailored to children's savings. It's essential to choose investments aligned with your risk tolerance and financial goals. Also, ensure you understand the investment vehicle's terms and conditions, including any lock-in periods or withdrawal restrictions. Regularly review the investment's performance and adjust the strategy as needed, but remember to keep the long-term perspective in mind. Consult with a Certified Financial Planner to tailor a plan that suits your daughter's future needs and aspirations.

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Stock Market Expert - Answered on Feb 13, 2024

Asked by Anonymous - Feb 11, 2024Hindi

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Hi Sir i have 5 lakhs and i am new for stock investment need to gift after 10 year my daughter, pls suggest the stock .

Ans: As per regulatory compliance no new stock recommendation can be mentioned, I would suggest you to visit a SEBI Registered Investment Advisor and seek advice from them. The following link will help you to find the nearest Adviser for you.
https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13

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Stock Market Expert - Answered on May 30, 2024

Question by RITESH - May 25, 2024Hindi

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Hello Greetings! I have a Six year old Daughter and I am already invested approx 20 lakhs and continue to do so as SIP in the following Stocks and wish to pass these Stocks to my future generations. 1. Nestle India. 2. Abbott India. 3. Saregama India. 4. Elantas Beck India. 5. Foseco India. 6. Tata Investment Corporation. 7. Trent Ltd. 8. Tata Technologies. 9. Force Motors. 10. Oracle India Financial Solutions. 11. Linde India. 12. Esab India. Kindly advise and suggest accordingly. I am long on my Investments. Regards. Thank you.

Ans: how much is the SIP amount?

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Tax Expert - Answered on Nov 05, 2024

Asked by Anonymous - Sep 28, 2024Hindi

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I am 56 yrs old Investor investing in equity and FnO through my account, wife's account and HUF account. This FY all accounts have STCG and LTCG which are quite on the higher side. The usual PPF, Insurance, bought computers, other expenses have been done. Yet the tax outgo is quite high. I and my wife both yet own a residential home. will buying a house offset the LTCG. My wife account has STCG only. Kindly give detailed response. Regards

Ans: 01. Purchase of a Residential house can have effect on your tax liability in case of LTCGs.
02. In case of STCGs deductions u/s 80-C can help reduce tax liability. It seems you have already made tax savings in this account.
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Sir , I am a working man ( 52 age) in Govt. project , salary- 75k /m . I invested in MF / ULIP / Term Insurance / LIC etc Also invested in Stock market too and also investing in Crytocurrency ( CoinDX) . all total my corpus is almost 6000K . Now My question is that I submitted the retorn almost 49000/- as ITR , but didn't gt any refund .. My query is now how can i get refund of my TDS ? Pls suggest your valuable advise so that I will get refund my ITR . Thank you and expecting your good response.

Ans: 01. Have you got intimation u/s 143(1) informing you, whether there is a Demand by the department or it has processed your ITR with Refund ?
The process of Refund will start only after that.
02. You are also requested to check, whether you have filed ITR with all complete details & these details are also supported by Form 26AS/AIS/TIS of the department.
03. If you have not received any intimation (Ref.point 01 above), you are requested to confirm from your site, whether your ITR has been processed or not. You can also request the department for re-issue Intimation u/s 143(1), in case assessment is complete.
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Tax Expert - Answered on Nov 05, 2024

Question by Verky - Oct 23, 2024Hindi

Money

Greetings, Received Income tax Intimation u/s 143(1) with respect to the return of income filed by for the Assessment year 2022-23 regarding demand notice of payment for sec 234b There was no Advance tax paid for the mentioned period FY 2021-22, And the ITR was filed on 31-12-2023. As such for calculation of 234B, the number of months from Apr 1st 2022 was calculated as 21 and the amount to be paid on the Assessed tax 103600 was calculated as (103600*1%)*21 which was filed as 21,756 But the demand notice mentions the amount as 32,116 (which seems to be calculated as 31 months) Was my calculation of 234B considering 21 months (01-04-2022 -> 31-12-2023) correct, in which case should I ask for a rectification for reprocessing ? Pls Advice. Thanks Verky

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Asked by Anonymous - Oct 12, 2024Hindi

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My son wants to do a program in undergrad in USA combining computer science and designing . What kind of majors he can choose, what are good universities for these programs .

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I am 50 years old. Having a housing loan with 16500 emi for another 13 years. Also I am having a cc loan for which I am paying 5000 p.m. interest. I have a son studing in 11 th science. My monthly household expenses are 12500. My income is 35000 p.m. Please guide me so that I can retire at age 60 with atleast some Pride.

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Question by P - Oct 24, 2024Hindi

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Good evening Doctor my mother is 65 years old and her creatinine level is 6.8 now. We diagnosed the issue in 2016 when her creatinine was 3. Kindly advise what steps she needs to take in order to reduce her creatinine levels. She doesn’t have BP and Sugar

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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