Bank FD with Overdraft Facility: Interest Income for Income Tax?

Ans: Hello K.
Both M.Sc. and M.Tech have different goals in career making. Choose M.Sc: If you're inclined towards research, academia, or plan to pursue a PhD. and M.Tech.: If you're more interested in the engineering, industrial, or applied aspects of biotechnology and want to work in industry. Both degrees can lead to good career opportunities, but it depends on whether your interests align more with research (M.Sc.) or technical applications (M.Tech.).

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Radheshyam

Ans: Hello Dharsha.
You used the words success and online coaching for Jee. Success never depends upon joining either online or offline coaching. You have to study on your own and consistently. There are many online learning platforms. To list some of them are, Allen, Vedantu, Byju's, PW, Aakash, and many more. It is better to visit the NTA website for a free online test series and test all the platforms from a teaching and test series point of view. Everybody's test is different. Hence, first, check and then decide which is suitable for you. We can't recommend a particular name from a success point of view. Join any suitable platform, study hard, appear for tests regularly, finish the syllabus in time, revise it at least 2-3 times, do calculations at lightning speed, and collect the material in hard and soft copy form. Success will be there.
Best of luck for your upcoming JEE exam.

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Radheshyam

Ans: You should have minimum of 6 months expenses put aside as emergency fund.

Some banks offer higher interest rate on savings account but it is subject to Monthly Average Balance requirement. (For eg IDFC First bank)

Some banks offer flexi fixed deposits, higher rate of interest with flexibility of withdrawal like a savings account but it comes with auto renewal feature. (For eg, Axis Bank)

Mutual funds offer liquid debt funds that can offer better interest rates, flexibility in withdrawal and some also offer instant redemption of 90% of corpus upto max 50K and balance corpus redemption is on T+1 working day. Mostly invests in low maturity secure debt instruments so are associated with low to moderate risk. (For eg. ICICI Pru Liquid Fund-Growth)

*Investments in mutual funds are subject to market risks. Please read all scheme related documents carefully before investing

Ans: Dear Rudolf,
As an NRI planning to move back to India in 2-3 years, transitioning your investments from an NRO account to a resident account requires careful planning. First, once you become a resident, you need to convert your NRO account into a regular resident savings account. This involves contacting your bank, providing updated KYC details, and submitting proof of your new residency status in India. Additionally, you must inform mutual fund houses or registrars (like CAMS/Karvy) about your change in residential status by submitting a KYC modification form.
In terms of taxation, as an NRI, you are currently subject to higher taxes on your investments. Long-term capital gains (LTCG) on equity funds are taxed at 10%, while short-term capital gains (STCG) are taxed at 15%. For debt mutual funds, LTCG is taxed at 20% with indexation benefits, and STCG is taxed according to your income slab. Once you become a resident, the taxation on these investments will continue under resident tax laws, but any new gains after your status change will be taxed according to resident regulations.
To efficiently manage your investments, you can opt for a Systematic Withdrawal Plan (SWP). This allows you to withdraw a fixed amount from your mutual funds regularly while keeping the rest invested. SWP is tax-efficient, as you only pay capital gains tax on the withdrawn portion. After becoming a resident, you can easily set up SWPs to your regular savings account for steady income, while the rest of your investments continue to grow.
So to conclude, it is essential to update your bank and mutual fund KYC details when you return to India to ensure regulatory compliance and take advantage of resident tax laws. SWP can provide regular income while managing taxes efficiently. You need to contact a professional Advisor or CA for managing all your assets.
Best regards,
Nitin Narkhede
Founder & MD, Prosperity Lifestyle Hub https://Nitinnarkhede.com
Free Webinar https://bit.ly/PLH-Webinar

Ans: Dear Friend, Given your current financial standing, closing your home loan by March 2025 seems like a wise choice. You have Rs 26.5L parked in the SBI Max Gain account, which already reduces your interest liability. By clearing the remaining Rs 12.65L, you can become debt-free, providing peace of mind and freeing up your EMI payments for additional investments. While the home loan offers tax benefits under the old regime, the psychological comfort of being debt-free may outweigh the potential tax savings, especially since your financial portfolio is already strong.
Once the loan is closed, increasing your monthly SIPs to Rs 2L would be a smart move. Over the next 10 years, equity mutual funds, which historically offer returns of 10-12% annually, can significantly grow your wealth. Since you are already investing in a diversified portfolio of index, small-cap, mid-cap, and flexi-cap funds, increasing these investments aligns well with your long-term goals.
Investing in real estate, particularly land, can provide diversification. However, real estate is typically less liquid and the returns can be location-dependent. If you're confident in the property’s growth potential, this can be a good long-term investment. However, your existing strategy of focusing on equity mutual funds will likely offer better returns and flexibility, given your 10-year investment horizon.
So closing your home loan by March 2025 and redirecting the freed-up funds into increased SIPs appears to be the best route. It balances peace of mind, tax efficiency, and long-term wealth creation, while real estate can be considered for diversification if you find a promising opportunity.
There are many real estate opportunities like REIT or Partial ownership in commercial properties which can also yield between 14 to 22% overall return with about 5 to 8% monthly return and 10 to 12% of Growth in the Asset Value at end of tenure.
Investment is commodities like gold and silver can also yield a return of 8 to 10% with reducing the risk in one sector.
Diversification is the mantra, do not depend on only one or two type of investment avenues. Explore other options as well.

Best regards,
Nitin Narkhede
Founder & MD, Prosperity Lifestyle Hub https://Nitinnarkhede.com
Free Webinar https://bit.ly/PLH-Webinar

Ans: Exit on any rise. Maintain strict stop loss(348-345)to avoid further losses.

As a caveat please consult your research analyst.

Ans: Hello, there are two websites available for the Bihar Pharmacy Council:
https://biharpharmacycouncil.in/
https://biharstatepharmacycouncil.com/
To register as a pharmacist, you need to upload your details onto the council's website. Kindly verify on which website you have uploaded your details.
The website https://biharstatepharmacycouncil.com/ is linked with the Pharmacy Council of India. Therefore, follow the directions on the second website accordingly.

Ans: Age is just a number. But ageing process happens with oxidative stress. One may be 60, but the biological age according to the healthy physiological system may be like in 50 s. Ageing process is unavoidable, particularly eating everything and crossing the limitations of the physical causes more oxidative stress. So please take care of your lifestyle. With a healthy lifestyle you can age gracefully with good quality of life.

Ans: Post viral illness can trigger different chain of immune reactions
They are mostly self limiting if your lifestyle is well disciplined.
Here are the points towards a healthy lifestyle
1.Early dinner by 6 pm and avoid animal protein and fat at dinner meal
2.Sleeping time to be regulated. Fix a specific time around 9/9.30 pm and unwind from the world particularly off media from 7 pm
3.Regular brisk walking 30 mts a day five days a week
4.Balanaced nutrition and avoid highly refined carbohydrates