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Ramalingam Kalirajan |6240 Answers |Ask -Follow

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

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more

Question by Ravinder on Jul 24, 2024Hindi

Money

SIR , can a I add my wife as a joint holder in running mutual fund/PMS

Ans: Most mutual fund houses / PMS providers do not allow adding a new holder to an existing folio. This is due to the regulations which consider it as a transfer of investment. However, there are exceptions.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

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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You may like to see similar questions and answers below

Mihir Tanna |933 Answers |Ask -Follow

Tax Expert - Answered on Feb 15, 2023

Asked by Anonymous - Feb 02, 2023Hindi

Namaskar, I want to start investing in my wife's name, she is not an earning member of our family. If I invest in her name, the income from investment will be treated as her own gains or it will be added to my income tax return?

Ans: In case spouse is earning income out of money transferred by husband, income will be clubbed in the hands of husband

Ramalingam Kalirajan |6240 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Aug 23, 2024

Question by Ravinder - Jul 19, 2024Hindi

Money

Sir My question is " I invested in a mutual fund as well as in PMS in signal name. Now my question is can I add another person as a joint holder with out redeeming the fund? If yes what is the procedure? Thanks Kapoor

Ans: Most mutual fund houses / PMS providers do not allow adding a new holder to an existing folio. This is due to the regulations which consider it as a transfer of investment. However, there are exceptions.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

Ramalingam Kalirajan |6240 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Aug 20, 2024

Question by Ashok - Jul 26, 2024Hindi

Money

Sir myself Ashok, Can I transfer mutual fund, which is in my name and my wife is nominee, to in my wife's name. Do i or my wife have to pay income tax

Ans: Unfortunately, you cannot directly transfer a mutual fund from your name to your wife's name. Mutual fund units are typically linked to the investor's PAN card and cannot be easily transferred to another person.

Alternative Options:
Redemption and Re-investment:

You can redeem the mutual fund units in your name.
Transfer the money to your wife's account.
Your wife can then invest the money in new mutual fund units in her name.
Gifting the Money:

You can gift the money equivalent to the mutual fund value to your wife.
She can then invest the gifted amount in mutual funds.
Tax Implications:
Redemption and Re-investment:

If you hold the mutual fund units for more than a year, the capital gains are generally long-term and taxed at a concessional rate.
If you hold the units for less than a year, the capital gains are short-term and taxed as per your income tax slab.
The income earned by your wife on the new mutual fund investment will be taxed in her hands.
Gifting the Money:

There is generally no gift tax in India, so gifting money to your spouse is usually tax-neutral.
The income earned by your wife on the mutual fund investment will be taxed in her hands.
Important Considerations:

Gift Tax Laws: While there is no gift tax in India, certain conditions and limits might apply in specific cases. It's advisable to consult a tax professional for detailed guidance.
Income Tax Implications: The taxability of the mutual fund income will depend on factors like the holding period, type of fund, and individual tax slabs.
Financial Planning: Consider your overall financial goals and risk profile before making any decisions.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

Ramalingam Kalirajan |6240 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Aug 16, 2024

Question by Ashok - Jul 26, 2024Hindi

Money

Sir myself Ashok, Can I transfer mutual fund, which is in my name and my wife is nominee, to in my wife's name. Do i or my wife have to pay income tax

Ans: Unfortunately, you cannot directly transfer a mutual fund from your name to your wife's name. Mutual fund units are typically linked to the investor's PAN card and cannot be easily transferred to another person.

Alternative Options:
Redemption and Re-investment:

You can redeem the mutual fund units in your name.
Transfer the money to your wife's account.
Your wife can then invest the money in new mutual fund units in her name.
Gifting the Money:

You can gift the money equivalent to the mutual fund value to your wife.
She can then invest the gifted amount in mutual funds.
Tax Implications:
Redemption and Re-investment:

If you hold the mutual fund units for more than a year, the capital gains are generally long-term and taxed at a concessional rate.
If you hold the units for less than a year, the capital gains are short-term and taxed as per your income tax slab.
The income earned by your wife on the new mutual fund investment will be taxed in her hands.
Gifting the Money:

There is generally no gift tax in India, so gifting money to your spouse is usually tax-neutral.
The income earned by your wife on the mutual fund investment will be taxed in her hands.
Important Considerations:

Gift Tax Laws: While there is no gift tax in India, certain conditions and limits might apply in specific cases. It's advisable to consult a tax professional for detailed guidance.
Income Tax Implications: The taxability of the mutual fund income will depend on factors like the holding period, type of fund, and individual tax slabs.
Financial Planning: Consider your overall financial goals and risk profile before making any decisions.

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

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Milind Vadjikar |68 Answers |Ask -Follow

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Question by Chandra - Sep 07, 2024Hindi

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**Subject:** Request for Investment Review and Future Corpus Estimation Dear Mr.Vivek, I hope this message finds you well. I wanted to review my current investment portfolio and seek your expert advice regarding the future growth potential, as I aim to build a corpus of at least INR 3 - 5 crores by the time my daughters turn 18 years old. Is this figure realizable? Here’s a breakdown of my current investments: 1. **Mirae Asset Large & Midcap Fund (Direct Growth)** – INR 5,000 monthly - Current value: INR 135,281 2. **Canara Robeco Small Cap Fund (Direct Growth)** – INR 10,000 monthly - Current value: INR 210,164 3. **Quant Small Cap Fund (Direct Plan Growth)** – INR 5,000 monthly - Just started; current value: INR 5,190 4. **ICICI Prudential Balanced Advantage Fund (Growth)** – INR 20,000 monthly - Current value: INR 583,113 5. **HDFC Balanced Advantage Fund (Growth)** – INR 15,000 monthly - Current value: INR 503,604 6. **SBI Balanced Advantage Fund (Regular Growth)** – INR 15,000 monthly - Current value: INR 321,491 7. **Sukanya Samriddhi Yojana (SSY)** – INR 50,000 annually for my 9-year-old daughter - Current value: INR 565,805 (since 2016) 8. **Provident Fund (PF)** – Current balance: INR 10 lakh 9. **Tata AIA Life Insurance Fortune Pro ** – Started last year INR 150,000 to be paid for 5 years till 2027 10. SBI Child Plan Smart Scholar - Completed INR 500,000 Total Investment for 5 Years in 2024. From this year every financial year I plan to invest my working bonus of INR 3 Lacs to INR 5 Lacs every year as a bulk investment and diversify in different funds. I am 46 years old and plan to continue working and investing for another 5 to 6 years due to health reasons. My spouse is 37, and we have two daughters aged 9 and 5. My goal is to accumulate a corpus of at least INR 3 to 5 crores by the time my daughters reach 18 years of age. Based on my current investments, do you think this target is achievable within the given timeframe? I would greatly appreciate any suggestions or adjustments you might recommend to help reach this goal. Thank you for your guidance.

Ans: Yes your target is achievable in the given time frame.(13% return assumed) I am sure you have planned for some regular income after you stop working (~6 years from now) to meet the regular expenses. Plz. Make sure you have good family floater health insurance coverage apart from the employer's group health policy if any. Insurers typically insist 3-4 years of continuous coverage after which pre existing illnesses are covered. Consider investing in SSY in the name of second daughter, if possible. As you approach your target move corpus away from equity MFs into liquid or ultra short term debt funds.

*Investments in mutual funds are subjected to market risks. Please read all scheme related documents carefully before investing

You may follow us on X at @mars_invest for updates

Happy Investing!!

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Asked by Anonymous - Mar 17, 2024Hindi

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Hi I’m a Canadian citizen n sold my flat paying 23.92 tds. To avoid or get refund of my tds what’s my best option...invest in hivt bonds or another option ?

Ans: NRIs are allowed to invest in 54 EC Capital Gain bonds to save LTCG liability upto 50L so you can buy these bonds and claim refund. The tenure is 5 years(lock-in) with an interest rate of 5.25%, paid annually. Available in physical as well as demat format.

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Question by Chandrashekhar - Feb 25, 2024Hindi

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I have transferred some of my Mutual Fund investments to my daughter as a gift. Do I need to make a gift deed? Do I need to register it? What will it cost me to register it?

Ans: As on today transferring or gifting mutual fund units is a difficult topic(gray area) that needs to be addressed by the regulators. When you say you have transferred, I suppose you have redeemed your holding and purchased units in the name of your daughter who is a major(above 18 years). No need for gift deed in such case.

Other ways could be through nomination, joint holding

Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Asked by Anonymous - Sep 08, 2024Hindi

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Sir,My daughter is studying biotechnology(b.tech+m.tech)from KIIT Bhubaneswar.How good are the placements from this institution and what else should she learn so that she càn enhance her knowledge from learning and career enhancement perspective

Ans: Hi.
You did not mention the year in which your daughter is studying.
The placements for B.Tech. + M.Tech in Biotechnology is good and will grow as time passes.
Here are some key points on which your daughter can focus:
(1) Learn tools like Python, R, and Perl for data analysis in genomics and proteomics.
(2) Gain proficiency in CRISPR, PCR, DNA sequencing, and protein purification.
(3) Explore applications of AI/ML in biotechnology for drug discovery, medical imaging etc.
(4) Consider online certifications in Genomics, Biostatistics, and Clinical Research
(5) Seek internships or research projects in pharmaceutical, agriculture, or biomedical fields.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

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Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Asked by Anonymous - Sep 03, 2024Hindi

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Hlo sir/ma'am maine 2022 me 10th kiya h uske baad mera 2 saal ka gap h maine 2024 me 11th class me admission Li hu kya main 2026 jee advance ka paper de sakti hun kya

Ans: Hello.
To appear for JEE (Adv) you have to clear first JEE (Main). It will be difficult for you to match with the syllabus after a huge gap of 2 years. But nothing is impossible. If you qualify in JEE (Main) cutoff, you certainly can appear for JEE (Adv)

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Asked by Anonymous - Sep 08, 2024Hindi

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Sir,I want take advice that what 3rd year cse student should follow for better placement and intership,,

Ans: Hi
Here are some key points a student must try to follow-
(1) Build Strong Technical Skills in C++, Python, and Java, and Practice on LeetCode, HackerRank, and Codeforces. Work on OS, DBMS, Networking, and OOPs.. Try to gain proficiency in front-end (HTML, CSS, JavaScript) and back-end technologies (Node.js, Django).
(2) Focus on Competitive Coding like CodeChef, HackerRank, or Google Kickstart
(3) Work on Projects for web development, AI, or mobile apps
(4) Create an attractive LinkedIn profile. Attend tech webinars, hackathons, and coding contests to connect with industry peers.
(5) Use platforms like Internshala, AngelList, LinkedIn, and company career portals to search for internships.
(6) Practice mock coding interviews and aptitude tests on platforms like InterviewBit or Pramp to prepare for campus placement interviews.
To some students who enjoyed a lot in their engineering for 3 years, it seems to be difficult. But simple for those who worked hard since 1st year and focussed on the syllabus and extracurricular learning activities.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Question by Ismah - Sep 03, 2024Hindi

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When is the right age/ class to prepare for neet

Ans: Hi Ismah

From the 8th standard, you can join foundation classes for the preparation of NEET classes. If not possible, no need to worry. You can also start preparation from the 11th. With full 2-year preparation (11th and 12th), you can crack the NEET.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Question by ARUN - Sep 08, 2024Hindi

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Sir, please advise your view about B.Tech CS in AI & Medical Engineering offered by Amrita Engineering in Coimbatore and Faridabad. My son is keen on CS in Medical Engineering. Please advise. Manipal also offers it. Please advise. : Regards Arun

Ans: HI Arun

You have three choices (1) Amrita Engineering Coimbatore (2) Amrita Engineering Faridabad and (3) Manipal.

Suggestion: Manipal MIT has an edge regarding global exposure and infrastructure. All are top institutions, but Manipal offers more global exposure, while Amrita focuses on research and ethics.

Please decide as per your convenience, and distance. Please compare the fee structure of all the institutions.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

Asked on - Sep 08, 2024 | Answered on Sep 08, 2024

Thank you very much.

Ans: Welcome.

If satisfied, pl follow me and like me.

Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Asked by Anonymous - Sep 08, 2024Hindi

Career

What would be the expected jee main percentile for coming spot on admission

Ans: Hi.
The question is not asked properly. Hence unable to guide you.
If possible, please ask in detail.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

Radheshyam Zanwar |817 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on Sep 08, 2024

Question by Divit - Sep 08, 2024Hindi

Career

Had 2 options ECE at iiit naya raipur and mechanical at nit raipur, went with iiit, could please tell me if it is a good Institute considering placements?

Ans: Hi Divit
You made a good choice with ECE at IIIT Naya (i.e. New) Raipur because:

1) ECE has wider career opportunities in the tech and IT sectors.
2) IIITs specialize in electronics and computing.
3) ECE offers flexibility to transition into IT roles, which are in demand.

If you are dissatisfied with the reply, please ask again without hesitation.
If satisfied, please like and follow me.
Thanks.

Radheshyam

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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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