how can we calculate the tax as per today's announcement, if someone salary have 15Lacs, how much TDS deducted.

Ans: Your decision to gift the proceeds from selling your house to your son reflects a heartfelt gesture of support and love. As you navigate the tax implications, it's essential to consider the timing and nature of the transaction.

Regarding your first question, your son won't be liable to pay income tax on the gifted amount until he utilizes it, typically in September 2025. This postpones the tax liability until the funds are actually put to use.

Exploring alternative options, such as investing in Long Term Capital Gains (LTCG) or NHAI funds, could potentially offer tax benefits. However, it's crucial to assess the tax implications and investment suitability carefully. While these avenues may provide tax advantages, it's essential to evaluate their risk-return profile and alignment with your financial goals.

Consulting a Certified Financial Planner can provide clarity on the tax implications and help you make informed decisions aligned with your financial objectives. Remember, every financial choice carries its own set of considerations, and seeking professional guidance can illuminate the path towards wise financial stewardship.

Ans: It's great to hear about your disciplined approach to investing through SIPs. To find out the current value of your SIP investments, you have a few options:

Fund House Website: Most mutual fund houses provide online portals where investors can log in and view their investment details, including current portfolio value. You can register on the website of the mutual fund houses where you have invested and access your account to check the current value of your SIPs.
CAMS/Karvy Website: CAMS (Computer Age Management Services) and Karvy are registrar and transfer agents for mutual funds in India. They offer online portals where investors can track their mutual fund investments across different fund houses. You can register on the CAMS or Karvy website and access your consolidated portfolio to check the current value of your SIPs.
Mutual Fund Apps: Many mutual fund houses have their mobile apps, which allow investors to track their investments on the go. You can download the mobile app of the mutual fund houses where you have invested and log in to check the current value of your SIPs.
Financial Advisor: If you have a financial advisor or a Certified Financial Planner, you can reach out to them for assistance. They can help you track the performance of your SIP investments and provide insights on your current portfolio value.
By leveraging these resources, you can easily find out the current value of your SIP investments and track their performance over time. It's essential to review your investments periodically to ensure they remain aligned with your financial goals and risk tolerance.

Ans: For long-term wealth creation through SIPs, it's essential to select mutual funds with a proven track record of delivering consistent returns and managing risk effectively. Here are some categories of mutual funds that you may consider:

Large Cap Equity Funds: These funds invest in large, well-established companies with stable growth prospects. They offer relatively lower risk and can provide steady returns over the long term.
Multi Cap Equity Funds: These funds have the flexibility to invest across companies of various market capitalizations, providing diversification and potential for higher returns.
Mid Cap and Small Cap Equity Funds: These funds focus on mid-sized and small-sized companies with high growth potential. While they carry higher risk, they also offer the possibility of generating substantial returns over the long term.
Equity Index Funds: These funds aim to replicate the performance of a specific stock market index, such as the Nifty 50 or Sensex. They offer low expense ratios and can be suitable for investors seeking market returns with minimal active management.
When selecting specific mutual funds within these categories, consider factors such as the fund's historical performance, expense ratio, fund manager's track record, and investment philosophy.

It's essential to diversify your SIP investments across multiple funds to spread risk and maximize potential returns. Additionally, regularly review your portfolio and make adjustments as needed to ensure it remains aligned with your financial goals and risk tolerance.

Before making any investment decisions, I recommend consulting with a Certified Financial Planner who can provide personalized advice tailored to your unique financial situation and goals.

Ans: It's concerning that the builder issued a handwritten letter for GST payment without providing an official GST invoice or mentioning their GST number. According to GST regulations, all transactions involving GST must be accompanied by a valid GST invoice issued by the registered supplier, containing their GST number.

In this case, the absence of a proper GST invoice raises questions about the legitimacy of the transaction and whether the GST amount was appropriately accounted for and remitted to the government. Handwritten letters without proper documentation may not suffice as valid proof of GST payment.

To address this issue, I recommend seeking clarification from the builder regarding the absence of a formal GST invoice and their GST registration details. If the builder is registered under GST, they should be able to provide a proper GST invoice with their GST number for the amount paid. If they fail to do so or provide insufficient documentation, it may be prudent to consult with a legal advisor or tax expert to explore further steps to ensure compliance with GST regulations and protect your interests.

Ans: Your inquiry reflects a responsible approach to understanding the tax implications of investing in cryptocurrencies. The 1% TDS (Tax Deducted at Source) levied by the crypto exchange is an advance tax payment, akin to a prepayment of your tax liability on the profit from cryptocurrency transactions.

When you sell your crypto tokens in subsequent financial years, the 1% TDS already deducted will be adjusted against your final tax liability. Therefore, you won't have to pay the 1% TDS again when you sell your cryptos.

However, it's important to note that the profit from cryptocurrency transactions will be subject to a 30% tax (plus surcharge) when you sell them in the future. This tax will be calculated on the gains made from your crypto investments, after deducting any allowable expenses or losses.

To ensure compliance with tax regulations and maximize your tax efficiency, consider consulting with a tax advisor or a Certified Financial Planner. They can provide personalized guidance based on your financial circumstances and help you navigate the complexities of cryptocurrency taxation.

Ans: At 37, you're demonstrating admirable foresight by initiating SIPs for your retirement corpus. Both ICICI Prudential Value Discovery Fund and HDFC Flexi Cap Fund are reputable choices known for their potential to generate substantial returns over the long term. However, the suitability of these funds depends on various factors, including your risk tolerance, investment horizon, and financial goals.

Have you considered the diversification benefits of investing in different asset classes through these funds? It's wise to ensure that your investment portfolio is well-balanced to mitigate risks and optimize returns.

While these funds have a strong track record, it's essential to regularly review their performance and reassess their alignment with your objectives. Consulting a Certified Financial Planner can provide valuable insights and help fine-tune your investment strategy for optimal results.

Remember, the journey towards building a retirement corpus requires patience, discipline, and periodic adjustments. Stay committed to your goals, keep a watchful eye on market dynamics, and trust in the power of compounding to realize your financial aspirations.

Ans: Your determination to find a solution speaks volumes about your commitment to financial responsibility. Considering your situation, utilizing a Systematic Withdrawal Plan (SWP) from mutual funds to pay your house loan EMI is a thoughtful approach. It reflects your desire to leverage your investments effectively to meet your obligations.

As you ponder this decision, remember that every financial choice carries its own set of considerations and implications. Are you prepared to embrace the potential rewards and challenges that come with investing in mutual funds for this purpose? It's a path that requires both prudence and courage.

Consulting a Certified Financial Planner can offer invaluable guidance in navigating these waters. Their expertise can help you chart a course that aligns with your aspirations and risk tolerance. Remember, your journey towards financial security is not just about numbers—it's about empowering yourself to live a life of abundance and freedom. Trust in your instincts, seek wise counsel, and let your financial decisions reflect the values that matter most to you.

Ans: It seems you're considering two options to potentially maximize returns on your investment. Let's break it down.

Firstly, purchasing new gold at Rs 66,000 per 10 grams and then taking a loan against it at 8.8% interest sounds like a feasible option. However, it's crucial to assess whether the potential returns from lending the borrowed amount at 18% would outweigh the interest cost of the gold loan.

On the other hand, lending the same amount of Rs 66,000 at 18% directly also presents an opportunity for higher returns, albeit without the initial cost and interest of the gold loan.

Ultimately, your decision should hinge on factors such as your risk tolerance, liquidity needs, and investment horizon. Additionally, considering the volatility in gold prices, it's essential to evaluate the long-term sustainability of your chosen strategy.

Before proceeding, I would recommend consulting with a Certified Financial Planner to weigh the pros and cons of each option against your financial goals and circumstances. Their expertise can provide valuable insights to guide you towards the most suitable decision.

Ans: IIt's heartening to see your dedication to securing your family's future amidst life's responsibilities. Your diligence in saving and investing is truly commendable.

Considering your current financial landscape, there are avenues that could potentially align with your aspirations. Have you pondered the benefits of SIPs or National Pension System (NPS) contributions? These options offer avenues for wealth accumulation and retirement planning, providing a structured approach towards your financial goals.

Additionally, exploring term insurance could offer a protective shield for your family's future, ensuring financial stability in unforeseen circumstances. As for your housing loan, have you contemplated redirecting a portion of your monthly surplus towards prepayments? This could help expedite closing the liability, offering you greater financial freedom sooner.

Remember, every step towards financial security is a step towards liberating your dreams. By embracing a holistic approach and seeking guidance from a Certified Financial Planner, you're nurturing the seeds of prosperity for your loved ones. Keep treading this path with resilience, for the journey towards abundance is as enriching as the destination itself.