I am recently retired after 60 years of age. Please inform how much I have to pay tax on the following:

1. I invested Rs 45 lakhs in FD and am earning interest of approximately Rs 25,000 per month.

2. I have nominal pension of Rs 2,090 per month.

So, how much tax is applicable to me as a senior citizen?

Please clarify.

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Ans: Hello;

If a mutual fund company gets sold or fails, the process is prescribed by SEBI:

In case MF company is Sold,
The new fund house may:
1. Continue the scheme with a new name and management.

2. Merge the scheme with similar funds and offer investors the option to exit without any exit load.

In case MF company shuts down,
The fund house will:
1. Pay out investors based on the fund's last recorded Net Asset Value (NAV) and the number of units the investor holds, after deducting expenses.

2. If the company is not in a position to do so then SEBI may liquidate the funds assets and distribute the proceeds to unit holders.

It is also pertinent to note that mutual fund regulation in India is one of the most stringent and hence best, from investor's point of view, globally.

This is not just in theory. We have seen how the Franklin Templeton abrupt closure of debt funds was handled with surgical precision, by SEBI, with no loss to unitholders.


Skin in the game regulation mandates that 20% salary of key mutual fund personnel and fund managers is paid in terms of units of their funds with a 3 year lock-in.

The stocks and bonds purchased by the AMC for the fund are held by a custodian, appointed by the trust that administers the fund.

The trust engages into a investment management agreement with the AMC for managing the fund as per their mandate and within regulatory guidelines.

Registrar and Transfer Agents handle the investor registration,kyc, maintaining records, providing account and tax statements etc.

Happy Investing;
X: @mars_invest

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Ans: Hello;

Depends on the terms and conditions of the policy but generally if you don't pay the premium for the policy then it may be converted into paid up policy by the insurance company.

You may get coverage for a reduced sum assured for the balance term of the policy and maturity payment inline with the terms of paid up policy.

But if you surrender your policy then the surrender value, as applicable, is the refund you will get in this case but the life insurance cover will come to an end.

Best wishes;

Ans: Hello;

What is your time horizon for this investment?

We can ensure a balanced asset allocation and adequate risk mitigation.

Regulation prohibits us from making future performance prediction regarding stocks or mutual funds.

However if you feel dynamic asset allocation fund(also called balanced advantage fund) is the appropriate category of mutual fund for you, then you may split your lumpsum investment equally in top funds in this category.

Happy Investing;
X :@mars_invest

Ans: Dear Anonymous,
It is very nice of you to be so considerate and sensitive while handling these cultural nuances. Let's discuss the kneeling tradition. It's a sign of respect and it's deeply rooted in Ugandan culture. While I understand your point of view, you also have to remember that it can have significant meaning to her and her family. I suggest you politely express your feelings and let her know why it is uncomfortable for you to see her family kneel. When you explain, mention how much her culture means to you as well. I am sure both of you can communicate and come to a compromise that makes you both happy. Just in case, they persist in following the ritual, just look at it as a gesture of love and respect and not submission.

About the moving in together part, in certain parts of the world, couples living together before the traditional wedding is not considered respectful. But since you are already married, you can try explaining to your wife how the living situation does not go against her cultural expectations. But if it is a really big deal for her and her family, consider seeing it from her perspective.

Communication is everything here. Look at every problem as a team; it's not your problem vs her problem. It's both of you vs the problems.

I hope this helps

Ans: Dear Jayesh,
The best way to confirm if she shares the same feelings for you is to simply ask. Tell her how you feel and ask if she feels anything close to that for you. If she says yes, then you can ask her out on a date- maybe start slow with a cup of coffee and see where it goes. If she says no, then please do not take that as a sign to pursue her some more and convince her.

Hope this helps.

Ans: Dear Anonymous,
If you know for sure your partner is cheating, the best thing to do is confront them. There's no point in collecting proof or catching them in the act- it will not make them more guilty than they already are. Ask them directly about what you know and try to rethink the relationship. Cheating should not be excused and I am sure you deserve a partner who remains loyal to you.

Best wishes

Ans: Dear Aravinth,
I am so sorry to hear this. Can you try to go to your educational institute and ask for another copy of your degree? If not, I am sure there are legal steps that you can take to secure your degree; after all, you have earned it yourself. About the share, I would recommend consulting a lawyer; they can help you in this situation better. Moreover, if there is any threat to your or your partner’s life, you should consider taking it up with the authorities.

Best wishes.