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Mihir

Mihir Tanna  |981 Answers  |Ask -

Tax Expert - Answered on Nov 22, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Rakesh Question by Rakesh on Jul 25, 2023Hindi
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Sir, I got two P&L from Angel one, one is downloaded from the app i.e.without dates and after that I asked to share P&L with dates to show Quarter wise break then I got P& L with dates but there is a difference of around Rs.925 in profit. pls help to advise how to show in ITR. Rgds Rakesh

Ans: In Income tax return, you are expected to show correct amount of income. Kindly check reason for such difference.
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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Financial Planner - Answered on Jun 09, 2022

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I am Super Senior VETERAN, DOR 01 SEPT 1998. I have been filing my ITR regularly.  2) I shall appreciate your help to calculate Profit/Loss on Share/M.F Txt. 3) I have redeemed Tata Infrastructure Fund Folio No. 142726 , Qty 1496 units, Amt Rs.38473/ Dt 23/11/2020. 4) My Purchase was a) 489.939 units at Rs 10000/- Dt.01/03/2007b) Units 1069.68 at Rs 30000/- @28.05 Dt.23/01/2008 5) PLZ Calculate LTCG/LOSS. Also let me know if Purchase NAV will be based on NAV 31ST JAN 2018. 6) For Share Txt of VEDANTA QTY 210 Sell & L&T QTY 5 Sell, I will give details on receipt of your comment on Tata M.F. Redemption. 
Ans: Grandfathering would be applicable for you while computing the capital gains for Tata Infrastructure Fund. The Cost of Acquisition to be considered would be the higher of:

(i) Cost of Acquisition of the asset and

(ii) Lower of:

  1. Fair market value of the asset as on January 31, 2018 and
  2. Full value of consideration received / receivable on transfer of the capital asset.

The computation for the same is tabulated below. I had assumed it is under dividend mode based on the NAVs provided:

Capital Gains Computation
Sl No Description Date Units NAV Amount
1

Sales Consideration

23-11-2020 489.939 25.717246 12,600
Purchase 1 01-03-2007 489.939 20.410704 10,000
Cost of Acquisition - on FMV 31-01-2018 489.939 32.27 15,810
As per grandfathering principle - COA   12,600
2 Sales Consideration 23-11-2020 1006.061 25.717246 25,873
Purchase 2 23-01-2008 1006.061 28.045771 28,216
Cost of Acquisition - on FMV 31-01-2018 1006.061 32.27 32,466
As per grandfathering principle - COA   28,216
  Long Term Capital Loss -2,343

..Read more

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Mutual Funds, Financial Planning Expert - Answered on Jan 03, 2025

Asked by Anonymous - Jan 03, 2025Hindi
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I have invested in ICICI Prudential Nifty 50 index SIP. I have noticed that from past 6 months the fund is not performing. Should I keep this fund or liquidate and invest in in multi asset fund?
Ans: The ICICI Prudential Nifty 50 Index Fund replicates the Nifty 50 index. It is a passive fund that mirrors the index performance. The last six months have been volatile for the stock market, which has affected index funds. This is expected in short-term market conditions and does not reflect the long-term potential of index-based funds.

However, relying on index funds for wealth creation in volatile markets may not always be optimal. Active funds offer the flexibility of stock selection, better risk management, and potential for higher returns.

Why Active Funds May Be a Better Choice
Volatility Management: Active fund managers adjust the portfolio based on market trends. This flexibility helps during volatile times.

Higher Growth Potential: Actively managed funds can outperform index funds by investing in sectors and stocks with higher potential.

Diversification: Multi-asset funds allocate across equity, debt, and other asset classes. This reduces risk and provides stability.

Assessing Your Current Investment
Index Fund Performance: While the last six months may seem disappointing, index funds are designed for long-term investors.

Cost Factor: Index funds have lower expense ratios but lack active management during market fluctuations.

Active vs Passive: Actively managed funds are better during periods of market instability. They offer professional stock selection and sector rotation.

Benefits of Multi-Asset Funds
Balanced Portfolio: Multi-asset funds invest in equities, bonds, and gold, diversifying your investment.

Risk Mitigation: Allocation to multiple asset classes reduces portfolio volatility.

Stable Returns: These funds aim to provide consistent returns, even during volatile markets.

Suggested Action Plan
Reevaluate Goals: Align your investment decisions with your financial goals and risk tolerance.

Shift to Active Funds: Consider shifting from the Nifty 50 index fund to an actively managed multi-cap or multi-asset fund.

Monitor Performance: Choose funds with a strong track record and consistent performance across market cycles.

Consult a Certified Financial Planner: A planner can help you select the right actively managed funds and align your investments with your financial plan.

Final Insights
While index funds like ICICI Prudential Nifty 50 are suitable for passive investors, active funds offer an edge in volatile markets. Shifting to a multi-asset or actively managed fund may help you achieve better returns and stability.

Invest wisely, monitor regularly, and stay disciplined to maximise your wealth creation journey.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

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Anu Krishna  |1424 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 03, 2025

Asked by Anonymous - Jan 02, 2025Hindi
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Hi Sir/Ma'am, I am here to know if there is a problem with my mind or body as I am having a strong sense of demotivation to work towards the upcoming exams. I had taken a 3 months study leave from my work for the upcoming exams to be held in January . The first month was excellent but the next was not good and last month was pathetic. For the past 2 months I have been trying to work hard sincerely but failed. I sat at the study table, but could not achieve my targets. I wrote the targets , but still failed to complete them. I tried watching self help videos and read self help books but nothing is helping me. Today, it is like my brain signals not to work towards any of my targets. I am a CA aspirant and I tried all these ways but nothing worked for me. My exams are in 9 days and my family is not ready to give me any more chances because this is my 7th attempt. Even if I talk about this problem with my family, they become extremely negative and say harsh words about my future. Since I do not have family or friends to talk about it , could you please provide me sincere help in this ?
Ans: Dear Anonymous,
Kindly work with someone who can get you out of this mindset and into a mindset that is not motivating but also inspiring. Right now what you face is lack of inspiration which is understandable given the many attempts. But you are aware that some professional exams are like this; so persevere...
If it makes sense, take a break from it all...Breaks can refresh the mind and also help you realign yourself back to your goal. But make sure it's a short break and not something that will get you to a place of procrastinating. The break is to help you slow down the mind so that you can bring yourself back to your goal and take necessary steps to achieve it.

All the best!
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Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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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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