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37-Year-Old with 880,000 Loan: How to Manage Finances for Daughter's Education, Wedding, and Retirement?

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Aug 14, 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 Shilpa on Jul 24, 2024Hindi

Money

Hi sir my age is 37 my net salary is 26000 I m married n has one 5 year old daughter. My monthly expenses is 11000 n my investments r rd of 650 per month, two mutual funds 1000 in hdfc balanced advantage direct growth fund n 1000 in hdfc defence fund. I hav 8 life insurance policies four of mine one of wife n 3 of daughter n ssy of daughter with 12000 yearly. I hav a loan of rupees 880000. I need to make arrangement for my daughter's education wedding n for my retirement. I need ur suggestion?

Ans: You are 37 years old with a steady income of Rs. 26,000 per month. Your monthly expenses are Rs. 11,000, leaving you with some surplus for savings and investments. You have already started investing in a recurring deposit (RD), two mutual funds, and life insurance policies for your family. You also have a significant loan of Rs. 8,80,000. Your financial goals include saving for your daughter’s education, her wedding, and your retirement.

Let's evaluate your current situation and create a plan to achieve your goals.

Evaluating Your Current Investments
Recurring Deposit (RD): You are investing Rs. 650 per month in an RD. RDs offer secure returns but may not be sufficient for long-term goals due to lower interest rates.

Mutual Funds: You are investing Rs. 1000 each in HDFC Balanced Advantage Direct Growth Fund and HDFC Defence Fund. These funds offer good growth potential but make sure to regularly review their performance.

Life Insurance Policies: You have eight life insurance policies. While insurance is essential, too many policies may dilute the benefits and increase premium costs. Consider if these policies are providing adequate coverage and returns.

Sukanya Samriddhi Yojana (SSY): This is a good investment for your daughter’s future, with tax benefits and decent returns.

Key Areas to Focus On
Debt Repayment

Your priority should be to pay off the Rs. 8,80,000 loan. This will free up funds for investments and reduce interest costs.

Allocate a portion of your savings to clear this loan systematically.

Optimising Insurance Policies

Evaluate your current life insurance policies. Consider if they provide sufficient coverage or if there is an overlap.

If these policies are endowment or money-back plans, they may offer lower returns. You might consider surrendering or reducing the number of policies, depending on their maturity dates and surrender values. Invest the freed-up amount in better-performing avenues like mutual funds.

Investment in Mutual Funds

Continue with your SIPs in mutual funds but consider increasing the amount gradually as your income grows.

Ensure a diversified portfolio by adding funds across different categories, such as large-cap, mid-cap, and hybrid funds. Actively managed funds are generally better for long-term growth than index funds.

Review your mutual fund portfolio annually to ensure it aligns with your goals.

Daughter’s Education and Wedding

Start a dedicated SIP for your daughter’s education and wedding. Choose equity mutual funds for long-term growth.

Increase contributions to her SSY account to take full advantage of the scheme's benefits.

Retirement Planning

Begin investing in a retirement corpus immediately. Even small monthly contributions can grow significantly over time.

Consider investing in a mix of mutual funds and PPF for a balanced approach to growth and security.

Recommended Steps Forward
Budgeting and Savings: Track your expenses and create a budget to ensure you have a clear picture of your finances. This will help you find additional savings that can be redirected toward investments.

Emergency Fund: Build an emergency fund with at least six months’ worth of expenses. This will give you a financial cushion in case of unforeseen events.

Loan Repayment Strategy: Prioritize paying off your Rs. 8,80,000 loan. Use any bonuses or extra income to reduce this liability faster.

Increasing SIPs: As your financial situation improves, gradually increase your SIPs in mutual funds. Start with small increments to avoid straining your budget.

Insurance Review: Conduct a thorough review of your life insurance policies. If you find policies that are not serving their purpose effectively, consider consolidating or switching to term insurance for better coverage.

Long-Term Investments: Consider shifting a portion of your RD investment into mutual funds for higher returns. This will help in achieving your long-term goals.

Final Insights
Your current financial discipline is commendable. With focused planning, you can achieve your goals of securing your daughter’s future and your retirement. Prioritize debt repayment, optimize your insurance portfolio, and invest consistently in mutual funds for long-term growth.

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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Question by Gouri - Jan 22, 2024Hindi

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Sir further to this I am 53 years old Goal : daughter - medical expense starting fm the year 2025 Son - from 2025 higher studies - approx 35 lakhs Marriage - for son at 28 and daughter at 26 Retirement - looking for 70 k per month too How can I plan ? With the said corpus ?

Ans: Given your financial goals, it's advisable to allocate your existing corpus strategically. For your daughter's medical expenses & son’s higher education starting in 2025, consider investing in short-term funds or less risky instruments to ensure the funds are readily available.

For your son's marriage at 28 and your daughter's at 26, which have a longer time horizon, you can explore a mix of equity and debt instruments to potentially achieve higher returns. As far as retirement is concerned, we have assumed your life expectancy till 85 and an aggressive risk profile, you might need around Rs 2 crore at retirement (age 60). This considers a 6% inflation rate and 12% pre- and 10% post-retirement returns.

Right now, you have Rs 1 crore saved, split between equity (65) and debt (35). However, solely relying on these investments might not help you to achieve all your financial goals. You should consider increasing your investments in mutual funds to ensure a secure retirement. Also, slowly build up an emergency fund equal to 6 months of your expenses.

The response to your query is based on limited information and consulting a financial advisor is highly recommended. They can create a personalized plan considering your unique expenses, risk tolerance, and other goals.

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on May 14, 2024

Asked by Anonymous - May 04, 2024Hindi

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Hi sir I am 34 years with take home 75k. Present wife not working and we are having w year daughter and 2 months son. My tax regime is new My expenses as Home loan 11k. Car loan 10.5k. Other expenses 10k. Home expenses and maid 10k. Term insurance yearly 19k with 1 cr coverage. Please suggest me investment of 10-12k Daughter Son Kids higher education Retirement My planning ssy of 50k yearly and nps of 50k Please suggest.

Ans: It's wonderful to see your proactive approach to securing your family's financial future, especially with young children to care for. Let's explore how you can allocate your resources effectively to meet your various financial goals.

Prioritizing Your Investments
Given your income, expenses, and specific financial goals, here's a suggested investment strategy tailored to your needs:

1. Children's Education:
Investing in your children's education is crucial for their future success. Consider opening separate savings accounts or investment plans for your daughter and son. Allocate a portion of your monthly budget (around Rs. 2,000 to Rs. 2,500 each) towards these accounts to accumulate funds over time. Opt for investment options with moderate risk and potential for long-term growth, such as mutual funds or child education plans.

2. Retirement Planning:
It's never too early to start planning for your retirement. Allocate a portion of your monthly budget (around Rs. 3,000 to Rs. 4,000) towards retirement savings. Maximize contributions to your NPS account, taking advantage of the tax benefits offered under the new tax regime. Additionally, consider investing in equity mutual funds or voluntary provident fund (VPF) to supplement your retirement corpus further.

3. Term Insurance:
You've already taken a significant step by securing term insurance coverage of Rs. 1 crore. Ensure that your coverage amount is sufficient to meet your family's financial needs in case of any unfortunate event. Review your insurance needs periodically, especially as your family and financial responsibilities evolve.

4. Emergency Fund:
Building an emergency fund is essential to handle unexpected expenses or financial setbacks. Aim to set aside an amount equivalent to 3 to 6 months' worth of living expenses in a high-yield savings account or liquid mutual fund. Start with a small portion of your monthly budget (around Rs. 1,000 to Rs. 2,000) towards this fund and gradually increase it over time.

Monitoring and Adjusting Your Plan
Regularly review your financial plan to track progress towards your goals and make any necessary adjustments. As your income increases or expenses change, you may need to reallocate your resources accordingly. Consider consulting with a Certified Financial Planner to ensure that your investment strategy remains aligned with your long-term objectives.

Conclusion
By following this investment plan and staying disciplined in your approach, you can build a solid financial foundation for your family's future. Remember that consistency and patience are key to achieving your financial goals over time.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Jul 18, 2024

Question by Abhijit - Jun 29, 2024Hindi

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Hi Iam 42 M, salary 26L, PF 28L. PPF 3.5L, NPS-4L, MF 4.5L, have shares 8L, LIC premium paying 90K per year. House rent 24k per month. Own house no loan, can invest 60K-1L per month. Daughter in 7th, want to have a financial plan for her higher studies (Engineering or Medical) and her Marriage. And also for my retirement with 1 Cr.. Can you suggest how to plan for education, marriage and my retirement ? Shall I put different funds for each goal? Shall I put a single funds to cater to all 3 Goals.

Ans: Understanding Your Financial Situation
Salary: Rs 26 lakh annually
Provident Fund (PF): Rs 28 lakh
Public Provident Fund (PPF): Rs 3.5 lakh
National Pension System (NPS): Rs 4 lakh
Mutual Funds (MF): Rs 4.5 lakh
Shares: Rs 8 lakh
LIC Premium: Rs 90k per year
House Rent: Rs 24k per month
Own House: No loan
Potential Monthly Investment: Rs 60k - 1 lakh
Goals
Daughter’s Higher Education (Engineering or Medical)
Daughter’s Marriage
Your Retirement with Rs 1 crore
Financial Plan for Each Goal
Daughter's Higher Education
Timeline: 5-6 years
Investment Strategy:
Invest Rs 20k per month in equity mutual funds.
Choose a mix of large-cap and diversified funds.
Consider systematic investment plans (SIPs) for disciplined investing.
Utilize education-oriented funds for focused growth.
Daughter's Marriage
Timeline: 10-12 years
Investment Strategy:
Invest Rs 15k per month in a combination of balanced and equity funds.
Allocate a portion to gold investments for diversification.
Utilize SIPs for consistent growth and rupee cost averaging.
Review and adjust the portfolio based on market conditions.
Your Retirement
Timeline: 18 years
Investment Strategy:
Invest Rs 25k per month in diversified equity mutual funds.
Increase contribution to NPS for tax benefits and long-term growth.
Maintain and increase contributions to PPF.
Ensure a balanced portfolio with a mix of equity, debt, and gold.
Consider a systematic withdrawal plan (SWP) for steady post-retirement income.
Portfolio Allocation
Mutual Funds
Equity Funds: For higher returns and long-term growth.
Balanced Funds: For stability and moderate growth.
Debt Funds: For safety and regular income.
Gold Investments: For diversification and inflation hedge.
Provident Fund (PF) and NPS
Provident Fund (PF): Continue contributions for safe, long-term returns.
National Pension System (NPS): Increase yearly contributions for additional tax benefits and retirement corpus growth.
Insurance and Risk Management
Life Insurance: Ensure adequate coverage to protect your family.
Health Insurance: Consider a family floater plan to cover all members.
Creating Separate Funds for Each Goal
Education Fund: Focused on growth with equity investments.
Marriage Fund: Balanced with equity and gold.
Retirement Fund: Diversified with equity, debt, and PPF/NPS.
Additional Tips
Emergency Fund: Keep at least 6 months of expenses in a liquid fund.
Review and Rebalance: Regularly review your portfolio and adjust allocations.
Increase Investments: Gradually increase your SIP amounts as your income grows.
Tax Planning: Utilize tax-saving instruments to optimize your tax liability.
Final Insights
By strategically allocating your investments, you can achieve your goals. Separate funds for each goal provide clarity and focus. Regular reviews and adjustments will keep you on track. Continue disciplined saving and investing to build a secure financial future.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

Anil Rego |377 Answers |Ask -Follow

Financial Planner - Answered on Jul 24, 2024

Asked by Anonymous - Jul 23, 2024Hindi

Money

I'm 37 years old. Myself & my wife earn 2.3lac per month. Having a housing loan emi of 74k, pl emi of 35k. Our monthly expenses will be around 50k. Pf & vpf savings of 12lac, mf of 2.5lac, stocks 2.3lac & fd of 5 lac. Doing SIP of 25k per month. We are having two daughters. Kindly help us for planning kids education, marriage & retirement.

Ans: Hi,
Broadly, your expenses look on the higher side which is not helping your investments which is low at 25k per month. We advise to streamline your expenses to bring them down while simultaneously increasing the monthly investments. We think that 50k per month should be the base and you can strive to improve upon this on a Yearly basis
Best Regards,
Anil Rego,
Founder & CEO,
Right Horizons

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NEET, Medical, Pharmacy Careers - Answered on Dec 21, 2024

Asked by Anonymous - Nov 19, 2024Hindi

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Hello sir I am mbbs graduated from russia in 2020,n passed with my fmge exam in india in 2021, I want to ask if i want to practice medicine or work as doctor in uk ? Is it necessary for me to pass plab exam exam? Or if i get sponsorship from any uk i will be able to work there and simultaneously i will give plab exam?? Please guide me i m so confused?

Ans: Hi, I understand that you pursued a medicine course in Russia (a non-European country) and, since you are from India, you have completed the FMGE. Now you want to practice or work in the UK as a doctor?

Based on your question, you are eligible to practice in India after completing your internship (which you haven't mentioned, but I assume you have completed it). The FMGE is essentially a licensure exam for Indian students who have completed their medical studies abroad, so you are eligible to practice in India only.

If you want to practice medicine in the UK, you need to complete the PLAB test, as you are from outside the UK/Switzerland/European countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland).

You also inquired about sponsorship. Here is the information related to sponsorship for practicing medicine in the UK.
(Extracted from general medical council, uk org. )Applying for registration using sponsorship
If you apply through sponsorship, you will have to satisfy the sponsor that you possess the knowledge, skills and experience required for practising as a fully registered medical practitioner in the UK. Each sponsor has their own scheme which we have pre-approved. If you can satisfy the requirements of their scheme, they will issue you with a Sponsorship Registration Certificate (SRC) which you will need for your application with us. Please ensure this is a Sponsorship Registration Certificate for GMC registration, as we can’t accept UK visa sponsorship certificates for your application for registration.
Please note that a core part of all sponsors' criteria is that a doctor applying for an offer of sponsorship must have been engaged in medical practice for three out of the last five years including the most recent 12 months. If you cannot meet these minimum criteria, it is unlikely that you'll be able to supply sufficient evidence to support your application for sponsorship.
Doctors applying through sponsorship are required to demonstrate their English language skills by achieving our current minimum scores in the academic version of the IELTS test or the OET (medicine version).
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• BAPIO Training Academy Ltd - BTA International Fellowship Scheme – Internal Medicine with interest in Oncology with MSc in Oncology
• Barking Havering and Redbridge University Hospitals NHS Trust - BHRUT Sponsorship Scheme for Overseas Doctors in Clinical Radiology
• Birmingham and Solihull Mental Health NHS Foundation Trust - International Medical Fellowship Programme in Psychiatry (Birmingham)
• Birmingham Women’s and Children’s Hospital – Birmingham Women’s and Children’s International Medical Graduate sponsorship scheme
• Bradford District Care NHS Foundation Trust - International Medical Fellowship in Psychiatry
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If you have any further questions, please visit the GMC website for more information.

WISH YOU ALL THE VERY BEST.

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What is your nationality? (Based on your nationality, I can check the relevant requirements from the health department regarding courses and internships).

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- Course
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Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 21, 2024Hindi

Money

Hi Sir, I follow your articles regularly and your detailed assessment is really awesome.I am 47yrs Male with wife, 20&18 years kids, elder one is in B.Tech and younger one is 12th. My wife is a home maker. Coming to financials. I have 4 houses including the one residing worth 10cr(total) and getting rental income of 70k per month, invested in stocks and MFs worth 60L, have foreign stocks of worth 1.7cr, accumulated pf around 1.3cr. I have farm lands worth 5cr. Have 1.2cr loan and salary of ~4L (net). current sips in equity 70k/month, have 5Cr term plan, health insurance for family 50L. How do I plan my retirement at 52-53years assuming 80 years life expectancy. Don't want to depend on kids and need regular income ~3-4L per month.

Ans: Asset Evaluation
Real Estate:
You own four houses worth Rs 10 crore, generating Rs 70,000 monthly rental income. This is a solid base for passive income. However, real estate can have fluctuating maintenance costs, tenant issues, and varying rental yields over time.

Stocks and Mutual Funds:
Your Rs 60 lakh investment in stocks and mutual funds is a commendable step. Active mutual funds offer professional fund management and can outperform index funds over time.

Foreign Stocks:
Your Rs 1.7 crore portfolio in foreign stocks adds geographical diversification. Monitor currency exchange fluctuations and global market trends.

Provident Fund (PF):
With Rs 1.3 crore in PF, this is a reliable retirement corpus. The fund provides fixed returns and tax benefits, adding stability.

Farm Lands:
Farm lands worth Rs 5 crore are an illiquid but valuable asset. They might not generate consistent income unless leased or developed.

Loans:
A loan liability of Rs 1.2 crore needs prioritised repayment. Focus on loans with higher interest rates first.

Insurance Coverage:
A Rs 5 crore term plan is robust. Your Rs 50 lakh health insurance is sufficient for unexpected medical emergencies.

Retirement Goals
You need Rs 3–4 lakh monthly for 27–28 years post-retirement.
The portfolio must generate steady, inflation-adjusted returns.
Action Plan for Retirement
Debt Management
Prepay High-Interest Loans:
Use a portion of your surplus income to prepay loans. This reduces interest outflow and increases your cash flow.

Avoid New Loans:
Focus on reducing existing liabilities instead of taking on new ones.

Portfolio Restructuring
Real Estate:
Retain essential properties. Sell underperforming or non-essential properties to reduce concentration in real estate. Invest proceeds in mutual funds or debt instruments for diversification.

Mutual Funds (MFs):
Increase SIPs in actively managed funds. They outperform direct funds due to guidance from Certified Financial Planners and MFDs. Regular funds offer better tracking and professional assistance.

Stocks:
Monitor direct equity investments closely. Consider reallocating underperforming stocks to mutual funds for better management.

Debt Instruments:
Invest in high-quality debt funds or fixed-income securities for stability. These instruments balance equity volatility and ensure steady returns.

SIP Strategy
Increase SIPs from Rs 70,000 to Rs 1 lakh/month.
Allocate 70% to equity funds for long-term growth.
Invest 30% in debt funds for stability and liquidity.
Emergency Fund
Maintain a 12-month expense reserve in liquid funds or fixed deposits.
This covers unexpected expenses without disturbing investments.
Income During Retirement
Systematic Withdrawal Plan (SWP)
Use SWPs in mutual funds to generate regular income.
Withdraw 6–8% annually from your mutual fund portfolio for a steady income stream.
Rental Income Optimisation
Review property rents regularly.
Invest part of rental income in equity or debt mutual funds for compounding.
Dividend Stocks
Retain high-dividend-yield stocks for regular income.
Reinvest surplus dividends for long-term growth.
Tax Efficiency
Equity Funds Taxation:
Long-term gains above Rs 1.25 lakh are taxed at 12.5%. Short-term gains are taxed at 20%.

Debt Funds Taxation:
Both short- and long-term gains are taxed per your income slab.

Real Estate Capital Gains:
Use exemptions under Sections 54 or 54F to save tax on property sales.

Inflation Protection
Allocate 60–70% of your portfolio to equity investments.

Equity provides inflation-adjusted returns over time.

Debt funds and fixed instruments safeguard against equity market volatility.

Estate Planning
Draft a will to allocate assets transparently among family members.
Use nomination and joint ownership to avoid legal complications.
Consider a family trust for farm lands to avoid disputes.
Periodic Review
Review your financial plan every six months.
Adjust investments based on market conditions, goals, and needs.
Consult a Certified Financial Planner regularly for updates.
Finally
A well-diversified portfolio ensures financial independence post-retirement. Focus on debt repayment, portfolio balance, and tax-efficient withdrawals. Your assets can comfortably generate Rs 3–4 lakh monthly income, adjusted for inflation.

Best Regards,
K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

Kanchan Rai |444 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Dec 21, 2024

Question by Kevin - Dec 19, 2024Hindi

Relationship

I am the eldest sibling in our families and aged 51. Normally, whenever anyone in the family has a problem - financial, mental, psychological, issue with people or anything else, they come up to discuss with me and share. Well, many would say I am lucky as people look up to me when they are in any kind of a problem. But that is not the case. Sadly no one is around with whom I can discuss or even think to share my issues, my problems. I do not have any friends. Sadly, yes, that is a fact and at my age, I dont expect that here we have a culture where we can get to making friends, at least the kind of friends with whom you can confide, share your feelings, problems. I tried and failed. Maybe because I am introvert or maybe I am too cautious. To make it more complicated, I dont work in the regular kind of job. I am a lone person who works as a freelance from home. This limits my outreach when it comes to interacting with real people. I have clients, business contacts, but I cannot get personal with them. It will never be a good choice. My wife is busy with her job + we do not have any relation beyond the daily matters related to household and it has been more than 10 years now that we live this way. Tried to sort out things with her but she just does not have time and interest (after all who wants to add on to tensions, stress). My daughter is after all my daughter - I cannot share these with her, and definitely at 10 she is too young to be one to discuss such stuff. I am not sure how far this issue can be fixed but I am hopeful to find some path here.

Ans: Dear Kevin,
Starting small can be helpful. Consider connecting with people through shared interests or hobbies, either online or in person, where the pressure to immediately open up is minimal. Online communities, local meetups, or volunteer activities can create low-stakes opportunities to connect with like-minded individuals. The goal isn’t to instantly find someone to confide in but to slowly build a sense of belonging and companionship.

Your relationship with your wife appears to be another significant source of emotional distance. While her lack of interest in deep conversations may seem like a barrier, it’s worth exploring other ways to reconnect—perhaps by spending time together in shared activities or revisiting moments that once brought you closer. Sometimes, relationships stuck in routines benefit from new experiences or even professional counseling to navigate the underlying dynamics.

Regarding your daughter, while it’s clear she cannot shoulder your emotional burdens, she can still be a source of joy and connection. Investing time in activities with her can provide a sense of fulfillment and grounding that counters loneliness.

Above all, remember that reaching out for professional support, such as therapy, is not a sign of weakness but an act of self-care. A therapist can provide a safe space to express your feelings and help you develop strategies to foster deeper connections and manage emotional isolation.

You deserve to feel supported and connected, and even if the journey to finding that seems long, every step you take toward opening up or seeking out others is a move toward a more fulfilling and less lonely existence.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Asked by Anonymous - Nov 22, 2024Hindi

Money

My Question is for New Tax Regime for Financial Year 2024 – 25. Total gross Income is Rs.9 lakhs and along with that income from share / stock trading i.e short term gains of Rs. 1 lakh. Could you please help me advise if what would be the tax liability?

Ans: 01. Considering your Income of Rs.9.00 lakhs as business income & Rs.1.00 lakh as STCG on securities, without any tax savings, your tax liability would be around Rs.62,400.00 in New tax regime. If we opt for the old tax regime, your tax liability would be much more than this.
Most welcome for any further clarifications. Thanks.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Question by SA - Nov 11, 2024Hindi

Money

I got a residential property through will from my mother,,property is 30 years old and i am planning to sell it, in that case i am going to get Rs 165lacks,, what will be the tax implication and how to avoid the same kindly advise i am 55 years old married man with a daughter

Ans: 01. In this case, you would be subjected to LTCG (Long Term Capital Gain) tax.
02. To work out LTCG, you should reduce its Cost from the Sale proceeds (Rs.165.00 lakhs).
of property, which was costed to your mother.
03. However, following details may help you to assess your tax liability.
Under present provisions of Income Tax Act, you may opt any of the options (Long Term
Capital Gains), as under :
(a). Tax Rate 12.50% without indexation or
(b). Tax Rate of 20% with Indexation.
04. You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
05. To avoid tax, you may invest in purchase of some house property. Exemption available would be minimum of Cost of new house property or the LTCG, which ever is less.
06. You have the option to purchase Capital Gain Bonds of NHAI etc., for tax saving.
07. Most welcome for any further clarifications. Thanks.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 19, 2024Hindi

Money

Hello Sir, I worked in a Pvt Ltd company from 2006 to 2011, and they had their own PF trust. The company was later sold off to another firm. I still haven't withdrawn the my PF amount. How will i be able to do that. I have the PF number and ESP number. Since this was before 2011 , my UAN is not linked to this account. How will i be able to retrieve my PF amount that is still stuck here.

Ans: Kindly keep in touch with your previous employer (present owner of the company), in this connection. There should not be any problem in getting your PF amount, except certain formalities/ forms to be submitted.
Most welcome for any further clarifications. Thanks.

T S Khurana |260 Answers |Ask -Follow

Tax Expert - Answered on Dec 21, 2024

Asked by Anonymous - Dec 21, 2024Hindi

Money

Dear Guru. I have inherited a property in Mumbai from my deceased father which was purchased in 1983 by him. If today i sell the property which is worth 2.60 Crs whats my capital gains tax and how will it be calculated

Ans: 01. In absence of exact figures, it is not possible to calculate your Capital Gains Tax. However, following details may help you to assess your tax liability.
02. Under present provisions of Income Tax Act, you may opt any of the options (Long Term
Capital Gains), as under :
(a). Tax Rate 12.50% without indexation or
(b). Tax Rate of 20% with Indexation.
03. You may calculate your tax liability under both options & may opt for the tax regime, where tax liability is minimum.
04. Most welcome for any further clarifications. Thanks.

Ramalingam Kalirajan |7290 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Dec 21, 2024

Question by Anil - Dec 20, 2024Hindi

Money

Top4 sips with 15k amount suggest me

Ans: Here’s an updated strategy for your Rs. 15,000 SIP allocation, replacing the sectoral/thematic fund with a small-cap fund for better long-term growth potential.

Suggested SIP Allocation (Rs. 15,000)
Large-Cap Fund

Allocation: Rs. 4,000/month
Objective: Stability and steady growth by investing in India’s top 100 companies.
Why Choose: Provides consistent returns and low volatility in your portfolio.
Flexi-Cap Fund

Allocation: Rs. 4,000/month
Objective: Diversified exposure across large, mid, and small-cap stocks.
Why Choose: Offers balanced risk and returns with flexibility during market cycles.
Mid-Cap Fund

Allocation: Rs. 3,500/month
Objective: Tap into the growth potential of medium-sized companies.
Why Choose: Higher returns with manageable risk compared to small caps.
Small-Cap Fund

Allocation: Rs. 3,500/month
Objective: Focus on fast-growing small-cap companies.
Why Choose: High-growth potential over the long term, though with higher volatility.
Why Include Small-Cap Funds?
Long-Term Growth: Small-cap companies have immense potential to grow significantly over time.
Diversification: Adds exposure to an underrepresented segment, complementing large and mid-caps.
High Returns: Potential for higher returns compared to other categories, albeit with higher risk.
Key Considerations
Investment Horizon: Stay invested for at least 7-10 years to mitigate short-term volatility.
Active Fund Management: Avoid direct or index funds to leverage professional expertise.
Regular Monitoring: Review fund performance periodically with a Certified Financial Planner.
Tax Implications
Equity Funds:
LTCG above Rs. 1.25 lakh/year taxed at 12.5%.
STCG (held less than 1 year) taxed at 20%.
Final Insights
This updated allocation ensures a mix of stability, moderate risk, and high growth. With consistent SIPs and periodic reviews, you can achieve robust wealth creation over the long term. A Certified Financial Planner can assist in optimising your investment strategy.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

See more questions »

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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