Should I choose old or new tax regime? - D Murali Krishna, income 12 lakhs with 2.26 lakhs capital gains

Ans: Hello;

You may buy a base health insurance of 5 L for your Mother. (Should cost you ~20-25K/pa)

Then you may buy a super top up health cover for your Mom(~25 L).
It may cost you ~10-12 K/pa).

These are indicative costs for a person of 65 years of age with no disease, without GST. Actual costs may vary from company to company.

Do a thorough study of exclusions, room rent limit, other terms and conditions or consult an insurance advisor.

Best wishes;

Ans: Hi
NIT Delhi is a great choice with good placements you can go ahead with it.

Ans: Hello Ashish Ji
it is not good and advisable for me to write this in detail on a public platform, I will help you with this if you can specify your city. In case of any queries & professional help, you can DM me through insta handle CAREERSTREETS.

Ans: Hi Atul
there will not be any problem. Don't worry about it.

Ans: Hello Sir,
In my view, M.S. is more beneficial & rewarding than doing M.Tech. If Pursuing M.Tech then top colleges are IITs & NITs. If he is happy with the work culture & perks he is receiving then I would suggest continue for 2-3 years to gain a good experience and then decide M.S/M. Tech or MBA.

Ans: Hi
You can go for MBA or Company Secretary course, both are very rewarding.

Ans: Hello
To be honest, no schools in India train simultaneously for boards and olympiads. Only a few schools like in the south, Kota and some in Mumbai train students for Olympiads and other entrance exams because ultimately they are coaching classes registered as schools.

I would suggest continuing with KV till the 10th and joining a separate coaching. During 11-12th you can go with this coaching cum junior college combination.

Ans: Hello;

Your monthly expenses:
Current EMIs: 67000
New EMI: ~133000
Rent: 35000
Household expenses:~ 50000
Total monthly Expense: 285000
Total monthly Income:~ 300000

You have hardly any income left for investments.

If I would have been in your place, I would have settled earlier loans before venturing into a new home loan, using part of the savings.

Also I would have sold the flat in other city and used the sale proceeds towards down payment of new house purchase.

This will ensure that my current investments remain mostly untouched(except loan prepayment).

I get exemption from long term capital gain arising from sale of old flat since reinvested into new residence(As per provisions of ITax Act).

My EMI burden will be much lesser and I can invest aggressively in mutual funds and NPS for:
1. Kid higher education &
2. Retirement

This was my perspective.

You may have different approach but key is to ensure reasonable amount of debt so that you have disposable income left for investments towards
future goals.

Happy Investing;
X: @mars_invest

Ans: Hello;

Your monthly expenses:
Current EMIs: 67000
New EMI: ~133000
Rent: 35000
Household expenses:~ 50000
Total monthly Expense: 285000
Total monthly Income:~ 300000

You have hardly any income left for investments.

If I would have been in your place, I would have settled earlier loans before venturing into a new home loan, using part of the savings.

Also I would have sold the flat in other city and used the sale proceeds towards down payment of new house purchase.

This will ensure that my current investments remain mostly untouched(except loan prepayment).

I get exemption from long term capital gain arising from sale of old flat since reinvested into new residence(As per provisions of ITax Act).

My EMI burden will be much lesser and I can invest aggressively in mutual funds and NPS for:
1. Kid higher education &
2. Retirement

This was my perspective.

You may have different approach but key is to ensure reasonable amount of debt so that you have disposable income left for investments towards
future goals.

Happy Investing;
X: @mars_invest