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Sanjeev Govila | Answer |Ask -Follow

Financial Planner - Answered on Nov 22, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more

Question by Sushil on Nov 10, 2023Hindi

Money

Can amount in Tier-2 account of NPS be withdrawn anytime like a savings bank account?

Ans: Yes, the amount in a Tier-2 account of NPS can be withdrawn anytime like a savings bank account
Since Tier-2 accounts are voluntary accounts, there are no restrictions on NPS Tier-2 withdrawals. An investor or subscriber can withdraw any amount from Tier-2 accounts for any purpose they like.
However, it is important to note that a Tier-2 account does not enjoy any of the tax benefits of a NPS Tier-1 account

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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Sanjeev Govila | Answer |Ask -Follow

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Question by Sushil - Jan 28, 2024Hindi

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In NPS Tier1 account, I have deposited 4.5L. With Interest included, the total amount is approx 5.5L. Can I withdraw full amount from Tier-1 account on superannuation?

Ans: • In NPS Tier 1 account you cannot withdraw the full amount on superannuation if the total corpus is more than Rs. 5 lakh. Here are the withdrawal rules for NPS Tier-1 account on superannuation.

• If the total corpus is less than or equal to Rs. 5 lakh: You can withdraw the entire amount as a lump sum.

• If the total corpus is more than Rs. 5 lakh: You can withdraw only 60% of the corpus as a lump sum. The remaining 40% has to be used to purchase an annuity plan that will provide you with monthly pension payments after retirement.

• In your case, since your corpus is Rs. 5.5 lakh, you will be able to withdraw only Rs. 3.3 lakh (60% of Rs. 5.5 lakh) as a lump sum. The remaining Rs. 2.2 lakh will have to be used to purchase an annuity plan.

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Question by Dipak - Nov 18, 2024Hindi

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Sir, Grateful for your reply dtd 15th instant stating my estimated tax liability for FY 24- 25. Would you kindly let me know break up of my tax calculation specially in respect of my LTCG. With kind regards D chakraborty

Ans: I am not in a position to trace my previous reply. Please mention exact date, to enable me to trace the same.
Further I would like to mention here that tax liability cannot be worked out unless complete information about your Income from all sources & all tax savings details are there.
Most welcome for any further clarifications. Thanks.

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Tax Expert - Answered on Nov 23, 2024

Question by Krishna - Aug 26, 2024Hindi

Money

Hi, I retired on 31 March 2024. I turned 60 years in November 2023. I have not yet with drawn my PF funds. Will the total accumulation be eligible for interest payment for 3 years post March 2024. Kindly advice.

Ans: You should be entitled to Interest on your PF account, at least for 3 years after your retirement.
Most welcome for any further clarifications. Thanks.

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Tax Expert - Answered on Nov 23, 2024

Asked by Anonymous - Nov 20, 2024Hindi

Money

I have superannuation schrme with presemt employer and they have discountinued the same. I sm of age 54 years now and employer asked to withdraw 33% fund and balance fund will convert in pension scheme. I have question that this 33% fund will attract tax as per Invome tax of Indian Govt?

Ans: 01. Payment of 33% of Fund being received at the time of Voluntary Retirement/Superannuation is taxable under the head "Income from Salary." However, a maximum of Rs.5,00,000.00 is exempted u/s 10(10)(C), subject to certain conditions. Since your question does not specify the nature of Job, the Company in which you served, Length of service & Whether the scheme of Superannuation is approved or not etc,, it is difficult to give you a clear view.
Most welcome for any further clarifications. Thanks.

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Question by Srinivasa - Nov 23, 2024Hindi

Career

Best college for bachelor in computer science in india other than iit, iiit, nit, bits

Ans: Hello Srinivasa
It would be biased to quote the name of only a single college for CSE in India. Yet you can choose the best which is suitable for you from the following list:
(1) Vellore Institute of Technology (VIT), Vellore
(2) SRM Institute of Science and Technology (SRMIST), Chennai
(3) Shiv Nadar University (SNU), Greater Noida
(4) PES University (PESU), Bengaluru
(5) Christ University, Bengaluru
(6) Jain University, Bengaluru
(7) Amrita Vishwa Vidyapeetham, Coimbatore
(8) Manipal Institute of Technology (MIT), Manipal
(9) Ashoka University, Sonipat (for Computational Sciences)
(10) Kalinga Institute of Industrial Technology (KIIT), Bhubaneswar
(11) Symbiosis Institute of Technology (SIT), Pune
(12) Chandigarh University, Chandigarh
(13) Lovely Professional University (LPU), Jalandhar
(14) DA-IICT, Gandhinagar
(15) NMIMS (Mukesh Patel School of Technology), Mumbai
Before selecting the college, please check the parameters such as Placement Records, Location, Specializations, Campus Facilities, Alumni Network, etc.

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

Radheshyam

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Tech Careers and Skill Development Expert - Answered on Nov 23, 2024

Asked by Anonymous - Nov 22, 2024Hindi

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Hello sir I am currently studying in diploma in Mechanical engineering of semester -v and my age is 20 years.Are you advice best career options after diploma.

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Tech Careers and Skill Development Expert - Answered on Nov 23, 2024

Asked by Anonymous - Nov 22, 2024Hindi

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I am completed B.Tech. in Civil (7.42) in 2023 but didn't get any job. Since then I start preparation for government exam but haven't had a chance yet. I am totally confused and frustrate about my career. What should I do right now?

Ans: Donot become frustrated. You have to hard work and dedication to get govt. job

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Question by Brahmendra - Nov 21, 2024Hindi

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Hello Sir, this is Brahmendra an IT professional for past 20 years. My son is studying +1 and preparing for JEE along with other engineering entrance exams. Academically, he is an above average student (scored 90% in class X CBSE) but has good aptitude & reasoning skills. Somehow, he likes to study mechanical engineering. Q1) Nationally, what colleges are good/best for mechanical? 2) In worst case, if he could not get into premium colleges like NITs, IITs, VITs & CBITs etc., can he still make a good career in that field? 3) Are there enough campus interviews happening for that branch in their industry and do they have enough off-campus opportunities? Being in IT industry, I am aware even an average student with good skills in programming can easily make their career. But when I was teaching him the programming in his previous classes, he did not find it interesting.

Ans: A1. IITs and NITs are best A2. In that case, he should do master's from foreign university A3. Campus interviews and off-campus is less than IT/CSE

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Tech Careers and Skill Development Expert - Answered on Nov 23, 2024

Asked by Anonymous - Nov 21, 2024Hindi

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I am currently studying in 3rd year of mechanical engineering in govt. College sir, can I get a job?. And what courses should I do?....

Ans: You can get a job, but for getting best job you should do masters from foreign university

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Tech Careers and Skill Development Expert - Answered on Nov 23, 2024

Asked by Anonymous - Nov 20, 2024Hindi

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Sir My son is studying in IIT and at a very later stage he expressed his averseness to complete the course. He wanted to pursue fresh degree in computer science. We tried to convince him but not getting convinced. Please suggest way forward.

Ans: In which steam is he studying now?

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Tech Careers and Skill Development Expert - Answered on Nov 23, 2024

Question by Akash - Nov 20, 2024Hindi

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I have completed my diploma in instrumentation and control engineering and pursuing my btech in electronic and communication engineering what can I do in future

Ans: You can do M.Tech from IITs

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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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