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Inherited Money: Stock Market, Savings, or Mortgage?

Samraat

Samraat Jadhav  |2249 Answers  |Ask -

Stock Market Expert - Answered on Apr 01, 2025

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more
Asked by Anonymous - Apr 01, 2025Hindi
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I recently received an inheritance and am unsure whether to invest in the stock market, place it in a high-interest savings account, or use it to pay off part of my mortgage. Given the current economic climate, what would be the most financially sound option?

Ans: this will all depend on your financial and risk assessment, i would suggest you to please visit a SEBI registered investment adviser from your area who would help you the plan it properly. The link to find the adviser near you is at the end of the message.
I would suggest you should first pay of the mortgage and then invest accordingly to your risk.
https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=13
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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Hello Sir - I have taken a HDFC Unit Linked pension plan in 2008 and the fund value is approx. 49 lakhs. The policy matures in 2030 and allows for commutation of 1/3rd of fund value (with mandatory annuity for balance 67%). My HDFC Life Relationship manager is suggesting that he will transfer the proceeds of this fund to a new HDFC Smart life pension plan (via surrender of old policy and immediate reinvestment as single premium in the new policy) for a term of 5 years. At the vesting date, I will be allowed to remove 60% of the fund value as tax free commuted pension and will need to take annuity only for remaining 40% of fund value. This is beneficial for me (since tax free commutation under new pension plan is 60% as per new IRDAI rules instead of current 33%). In such a case, will the surrender of old policy and immediate reinvestment into new smart pension plan be a taxable transaction in India? I have claimed 80CCC benefits for part of premium paid in the past. HDFC Life has informed that the surrender and immediate reinvestment would not be taxable as I am not actually receiving any amount (the amount is fully being reinvested in the new pension plan). Is this advice by HDFC correct? Thanks for the advice.
Ans: Returns on all ULIPs purchased between April 2012 to February, 2021 are completely tax free if the premium was less than 10% of sum assured. For ULIPs purchased before April 2012, the maturity amount was tax free if the premium was less than 20% of sum assured for that policy.

It is strongly advisable to consult CA to understand various scenarios

Vipul Bhavsar
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www.capitalca.in

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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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