I have gone through your expert guide on Rediff.com. Kindly deliver your advice in my case as well. Thanks Sir.

I am a salaried class employee and filed ITR 1 for FY 2019-20 in Aug 2020. Inadvertently, I paid self-assessment tax twice through online (Rs 17,000 paid twice amounting total of Rs 34,000).

I wrote to the IT deparment for refund of the excess amount of Rs 17,000. The IT department advised me to file rectification online through my IT account. I tried in vain.

Kindly guide me in this regard.

Ans: Hi
JEE MAINS requires PCM.

Ans: Hello Stuti
both career have their perks. After B.Sc nursing, you can go abroad where it is very high demand and rewarding. In Europe you can earn above 2L after experience of 1-2 years in India.
After BAMS you will be a doctor & can practice allopathy after a bridge course. Also, you can work as a resident doctor in hospitals.

If you have a budget of around 20-25L for the complete course I can help you with admissions for MBBS abroad. Since NEXT exam has become compulsory for Indian as well as foreign graduates. It is also a great option.

In case of any queries & professional help, you can DM me through insta handle CAREERSTREETS I will help you with the ideal solutions.

Ans: Hello;

In my view, flexicap type mutual fund is the best fund to invest for a 7 yr+ horizon.

This may change based on risk appetite and financial profile apart investment horizon.

Any fund from the top quartile that has proven its ability to provide better risk adjusted returns over long-term may be apt.

Happy Investing;

Ans: Hi
The best institutes for mathematics and research are ISI, CMI & IISERS. You need to qualify their entrance test and they are at par with JEE-MAIN level.

Ans: Hi,
as per jee main brochure, there is no age limit for candidates applying for the Joint Entrance Exam (JEE Main). However, Candidates are required to pass the class 12 or equivalent exam in 2023, 2024 or 2025.

Since everything is getting digitalized your details will be stored online in ABC, then I feel it may create a problem.

Ans: Hello;

After you accumulate a corpus of 3 Cr, you may 20/10 L in a mix of liquid funds and flexi FDs as your emergency fund.

If you invest the balance 2.8/2.9 Cr in a equity savings type mutual fund with low to moderate risk rating and do an SWP at 3%, you may expect a post tax monthly income of 60 K+.

This will grow with inflation as the fund provides returns and thus provide inflation indexed income.

Consider investing in NPS regularly every month the proceeds of which may be used to boost your retirement income at 60.

Do take good health care insurance.

Best wishes;

Ans: Hello;

It is better to save ~ 50% of your income towards this goal and get balance amount through loan rather then investing in market linked instruments, returns from which may be quite volatile in the short term.

Best wishes

Ans: Dear Raj,
Do you have an open marriage? Is your wife aware of your wishes and supports them? If that's the case, you have your own arrangement and I don't see how what you do is anyone else's business. But if that's not the case and you are planning on doing all of this behind your partner's back, and you are asking for some kind of reassurance from me that it is okay to cheat, I can't give you any.
Hope this helps.

Ans: Your retirement is just three years away. You have built a strong foundation with real estate, equity, and mutual funds. Now, the goal is to structure your investments for steady income, security, and long-term sustainability.

1. Assessing Your Current Financial Position
Flat Worth Rs. 1.5 Crore: This generates rental income, but liquidity is limited.
Equity Portfolio of Rs. 50 Lakh: Market-linked investments with potential for high returns but volatile.
Mutual Funds of Rs. 20 Lakh: Offers diversification and moderate risk exposure.
No Liabilities: This is a strong advantage for financial freedom.
Gifting Business: If planning to exit, ensure business-related finances are sorted before retirement.
2. Estimating Post-Retirement Income Needs
Calculate expected monthly expenses, including medical, travel, lifestyle, and emergency costs.
Factor in inflation, as expenses will rise over time.
Consider long-term costs such as medical care and home maintenance.
3. Structuring Retirement Income
Rental Income as a Fixed Source
Your flat generates rental income, which helps with stability.
Consider reinvesting this income for further growth.
Portfolio Rebalancing for Stability
Equity exposure is beneficial but risky close to retirement.
Shift some funds to low-risk instruments for safety.
Keep some allocation to equity to combat inflation.
Maintaining Liquidity for Emergencies
Create an emergency fund of at least 2 years' expenses in liquid assets.
Avoid relying solely on investments that require selling in volatile markets.
4. Health and Insurance Planning
Ensure comprehensive health insurance for both of you, at least Rs. 15-20 lakh coverage.
If you hold any old insurance policies with low returns, consider restructuring them.
Create a separate healthcare fund for long-term medical expenses.
5. Tax Efficiency in Retirement
Structure withdrawals smartly to reduce tax burden on capital gains.
Use tax-free instruments where applicable.
Rental income is taxable, so deduct maintenance expenses to lower tax outgo.
6. Planning Investments for Retirement Income
Avoid complete reliance on fixed-income instruments, as they may not beat inflation.
A mix of mutual funds, debt instruments, and systematic withdrawal plans (SWP) will ensure steady cash flow.
Keep some investments growth-oriented to sustain wealth over decades.
7. Estate and Legacy Planning
Prepare a clear will to ensure smooth asset transfer.
If you plan to donate or support causes, structure funds accordingly.
Finally
Ensure liquidity and stability in your investments.
Reduce risk in equity but keep exposure for growth.
Maintain a dedicated healthcare fund and strong insurance coverage.
Structure investments to minimise taxes and ensure steady income.
Plan legacy and succession to avoid future complications.
Would you like a detailed plan on how to allocate your investments for steady retirement income?

Best Regards,

K. Ramalingam, MBA, CFP

Chief Financial Planner

www.holisticinvestment.in

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