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Samkit Maniar |180 Answers |Ask -Follow

Tax Expert - Answered on May 27, 2024

CA Samkit Maniar has eight years of experience in income tax, mergers and acquisitions and estate planning.
He has graduated from Mumbai’s N M College of Commerce and Economics and has completed his CA from The Institute of Chartered Accountants of India."... more

Question by Rajeev on Apr 10, 2024Hindi

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I am retired person and working as retainer in a reputed company with more than 5000000 fee and also having capital gain. Which ITR I have to fill .

Ans: ITR 2.

Please take your CAs advice before moving ahead.

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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Question by chittanand - Feb 02, 2023Hindi

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MY ANNUAL CTC 25.0 LAKHS MY INVESTMENT AND PPF MORE THAN 2.5LACS WHICH TAX REGIME WHICH IS SUITABLE FOR ME.

Ans: Hi Chittanand

I am assuming that the tax saving investments are fully available for deduction.

With that assumption, your tax saving by opting for the new tax regime would be about Rs. 23,000

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I have salary income, some interest income, dividend and some share transactions. Capital gains only Rs.1000. Which ITR form I should file?

Ans: Resident person having Income from Salary, Capital Gain and Other sources is required to file Income tax return in ITR 2.

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Question by PRADIP - Aug 02, 2024Hindi

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i am salaried person which regime to be filled in fy 24-25 & how save the tax.

Ans: Please calculate your tax liability under both tax regimes & select the option, in which you have minimum tax liability.
It is not possible to generalise the selection of tax regime. It depends upon the individual details, Income & Saving patron to take advantage under both schemes.
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Insurance, Stocks, MF, PF Expert - Answered on Oct 08, 2024

Question by Sanjeev - Oct 02, 2024Hindi

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Hi Sir, iam 54 years old investor, recently resigned and active in shares trading and investing last 20 years. liquid assets approx. 3.75 cr. Rental income 33k and Gold another 1cr. Immovable property home and vacant shop 2 cr each. wife 51 yr old-home maker. Medical Policy 20 Lacs. household expenses 1.75 lacs inclusive of 45k of SIPs as per table. SCHEMES UNITS SIP VALUE AXIS LONG TERM - D 8247 240000 ADITYA BIRLA SL TAX RELIEF 96 D 759 150000 AXIS BLUE CHIP G 5702 375000 MIRAE ASSET LARGE CAP G 1151 130000 HDFC BALANCE ADVANTAGE D 6905 5000 285000 HDFC MID-CAP OPPORTUNITIES D 5616 5000 335000 ICICI PRU LIFE BLUE CHIP FUND G 6652 5000 750000 PARAG PARIKH LONG TERM G 6087 5000 500000 KOTAK FLEXI CAP FUND GROWTH 1694 145000 SBI BLUE CHIP GROWTH FUND 5814 550000 AXIS MIDCAP FUND DIVIDEND 2165 100000 SBI SMALL CAP REGULAR GROWTH 895 5000 170000 KOTAK EMERGING EQUITY FUND 1306 5000 180000 SBI LARGE AND MIDCAP FUND 261 5000 155000 MOTILAL NIFTY DEFENCE INDEX G 5000 45000 NPS 12000 10000 1700000 45000 5810000 Goals / Requirements : *Need following funds next year - daughter marriage 30 lacs and son education 50 lacs and my retirement corpus plus 15 lacs for car. *mutual fund portfolio re-alignment. Queries : *should i sell commercial shop and invest in FDs / MFs / Shares. Rental value is 50k which is less as compared to invest 2 cr in FDs also will fetch me 1.25 lacs per month. will be able meet next year requirement also without selling my liquid portfolio. *also should i go for SWPs for all inactive MFs upto to the extent of 45k to fund my SIP and NPS from allocation and can also increase the SIPs, if suggested. * should i increase NPS allocation by another 5k for better retirement prospects or any other suggestion related to retirement as to how much more money needed to meet ends.

Ans: Hello;

Query1:

Yes it is better to sell low rent yielding commercial property now, utilise the sell proceeds to fund you goals next year i.e. daughter's marriage, son's education and car purchase while the balance should be invested in mutual funds(equity savings type mutual fund)

Query 2:

Exit all inactive mutual funds and invest corpus(16.9 L) in Mirae Asset equity savings fund (low to moderate risk profile).

You should then start an SWP at 3.6% so as to generate income of 5 K for additional monthly allocation to NPS.

You should do SIP only in following 3 funds:
SBI hybrid equity fund(15 K)
HDFC balanced advantage fund (15 K)
ICICI Pru Multi asset allocation fund (15 K)

The taxation of these funds is like equity funds but they have exposure to alternate asset classes to impart some stability to corpus during extreme market fluctuations which is also suited for your age category.

Liquid assets+ gold+ NPS corpus will add up to approx 6.51 Cr which if annuitized will yield post tax monthly income of 2.15 L.

MF corpus may still grow to build up your inflation war chest.

Health care cover for family needs enhancement upto 50 L minimum as a safe precaution.

Reduce exposure to direct equity as you near retirement. You may continue trading as a hobby with a minimum risk capital with adequate knowhow, setup and temperament.

Happy Investing!!

You may follow us on X at @mars_invest for updates.

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

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Question by Amit - May 22, 2025

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My son got seat in VIT vellore in electrical and electronic under category2. Also got seat in MMMUT Gorakhpur in electrical engineering . Please advise which one is better for govt job in PSUs.

Ans: Hi Amit,
OBVIOUSLY MMMUT.
The admission process at MMMUT is based on merit, which will have a significant impact on his career. Even after completing his studies, he will still need to qualify for government jobs, as gaining admission to MMMUT does not guarantee employment in the public sector. It is essential for him to focus on acquiring knowledge and skills during his time there. I recommend that he start preparing for this now and consider taking additional courses starting in his third year.
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NEET, Medical, Pharmacy Careers - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

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Hi . Im getting neet 2025 mark 410 approx.. what are the chances if me getting a govt medical seats via state counselling.. tn govt.. general category . Also do u have any idea about my all india rank and state rank ... Many websites have given me different answers please guide me

Ans: Hi,
I can't say for certain. As you mentioned, some websites are making predictions and sharing their insights. Review their predictions from last year. Follow the most accurate predictors and prepare yourself accordingly.

According to your query, you mentioned the general category and asked about your rank. When I calculate your rank using your marks for both male and female candidates, I notice that it varies significantly. There are many factors that influence the prediction. If you overlook even a small detail, the entire outcome can change.

For Example: NEET 2025 RANK PREDICTION FOR YOU -168K to 180K (IF FEMALE) and 196K to 216K (If you are female). Therefore, please wait for the official answer and results.
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Janak Patel |41 Answers |Ask -Follow

MF, PF Expert - Answered on May 25, 2025

Asked by Anonymous - May 22, 2025

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Dear sir . I have 19 lacs home loan and EMI is 18400 for which 19 years left as per the duration of loan and a personal loan 5 lack for 5 years . My monthly income is 50000 Mutual fund 50000 Kindly guide me to repay personal loan faster

Ans: Hi,

To pay your personal loan faster, you need to save and pay all amount left after EMI and your expenses towards repayment of personal loan.
Do not stop paying the home loan EMIs
.
If personal loan interest rate is higher than the returns you are getting on Mutual funds, then you can consider withdrawing from MF and paying up the personal loan.

Thanks & Regards
Janak Patel
Certified Financial Planner.

Janak Patel |41 Answers |Ask -Follow

MF, PF Expert - Answered on May 25, 2025

Asked by Anonymous - May 15, 2025

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I am 36 years old, earning around 1.6 lakhs per month, I have car loan for 7 years and paying 25000 per month, I bought a land property 3 years back and its current evaluation is 35 lakhs, I have a ulip plan of 2lakhs per years and the premium was for 7 years ( completed) and holding period is 3years, total fund accumulated is 22 lakhs. I have a liquid reserve of 20 lakhs. Can u tell me if I have to accumulate 8 crore at the age of 60 , what should I do?

Ans: Hi,

Lets look at your investments and see what you will be able to achieve at the age of 60.

ULIP - This is a insurance + investment product and as you have completed your premium term of 7 years you should be able to access this amount (now or 3 years later). It may seem to be a good product but I believe on both Insurance and Investments there are better products. First the insurance cover is not substantial and the charges are quite high. They will manage to invest the amount just like a Mutual fund. Its better to split insurance and investment. If you are looking at this amount like an investment, then the amount of 22 lakhs is available as a starting point, over the next 24 years if invested at 12% rate (typical returns in Mutual Funds), you will be able to accumulate 3.33 crores. You can buy a term life cover of a high value (much higher than the ULIP cover), for a very low premium and you should definitely get that and com out of the ULIP.

Savings of 20 lakhs - I suggest you keep about 10 lakhs aside in some FDs as your emergency fund - to be used only for any unexpected/emergency situation. This will grow to 40 lakhs at 6% over the next 24 years.
The remaining 10 lakhs should be invested in Mutual funds and at a 12% returns after 24 years this will accumulate into an amount of 1.51 crores.

Thus you can accumulate approx. 5.25 crores with these 2 amounts invested as above for the next 24 years.

To achieve 8 crores, you need to accumulate another 2.75 crores. If you invest 16500 monthly into similar investment (Mutual fund SIP) and assuming same return of 12%, you can accumulate this amount.

In this process we have not considered the land property you have, as its difficult to calculate its value without knowing its location and usage/type. So you can get some estimate for it in future then you can accordingly reduce the monthly SIP requirement.

Mutual Funds are a good investment option when you consider its long term benefits - as its managed by professionals. Its important to construct a good MF portfolio and with time of your side, you should be able to achieve your goal comfortably.

Consult a fee based Certified Financial Planner/Financial advisor who can help and guide you for this.

Thanks & Regards
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Radheshyam Zanwar |2178 Answers |Ask -Follow

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Question by Veeru - May 25, 2025

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My son got 98.4 Percentile in JEE mains With OBC category. We are looking for ECE branch any good NIT. Please suggest me which NIT we're getting. Our Home State Karnataka

Ans: Hello Veeru
Given the score and category mentioned, your son has a strong likelihood of gaining admission to one of the NITs. At this point, it is not feasible for us to determine the specific NIT name. Actively participate in the counseling process and monitor it closely as well.
Best of luck.
Follow me if you like the reply. Thanks
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Radheshyam Zanwar |2178 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 25, 2025

Asked by Anonymous - May 25, 2025

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My son has 159k rank in jee mains he has got computer science at VIT Chennai what should we do???

Ans: Hello Dear
If no options left with you, prefer CSE @ VIT Chennai. It is also one of the best option from career point of view.
Best of luck.
Follow me if you like the reply. Thanks
Radheshyam

Radheshyam Zanwar |2178 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 25, 2025

Question by Aradhya - May 25, 2025

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I'm an 11th grade student. I opted for PCB but i'm interested studying physics at IISER, BS-MS. What books should i use to prepare for IAT exam 2027 and to improve my maths/calculation speed.

Ans: Hello Aradhya.
It would be advisable to reach out to the class or coaching instructors who can provide you with proper guidance and compile a list of reference books from an academic perspective. Essentially, CBSE books are commonly referenced for all kinds of entrance examinations.
Best of luck.
Follow me if you like the reply. Thanks
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Radheshyam Zanwar |2178 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 25, 2025

Question by Nisha - May 25, 2025

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got electronics ans communication ( bio medical eng) in catogrey 5 in VIT vellore or btech biotectnology in GGSIPU delhi. Which course is best ?

Ans: Hello Nisha
If possible prefer Bio-Tech @ GGSIPU Delhi.
Best of luck.
Follow me if you like the reply. Thanks
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Radheshyam Zanwar |2178 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 25, 2025

Question by Sikandar - May 24, 2025

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Sir my daugher scored 71% in 10th exam with 58 in science and 48 in math subject. Now she want to prepare for NEET exam through dummy physics. Please sugest good idea for her bettet career

Ans: Hello Sikandar
To succeed in exams such as NEET, it is advisable to abandon the concept of dummy physics. It is preferable to enroll in a regular PCB course at college and consider joining a reputable coaching institute if financially feasible. Encourage her to concentrate on all subjects equally. With the recent NEET 2025 question paper, the NTA has indicated that the physics exam will become more challenging in the upcoming years to ensure fair competition among students. Therefore, opting for a regular course is recommended.
Best of luck.
Follow me if you like the reply. Thanks
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Radheshyam Zanwar |2178 Answers |Ask -Follow

MHT-CET, IIT-JEE, NEET-UG Expert - Answered on May 25, 2025

Asked by Anonymous - May 24, 2025

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Hi sir, I am getting cse data science in VIT vellore and cse core in manipal jaipur. I reside in delhi so jaipur is closer and therefore less travel cost. The restrictions in VIT are too much for me and I wanted to do cse core only. But VIT has much better opportunities and placements. I am very confused, please help.

Ans: Hello dear
Apart from distance point of view, it is advisable to prefer CSE @ Manipal Jaipur over VIT. Go with Manipal Japiur without thinking and confusion.
Best of luck.
Follow me if you like the reply. Thanks
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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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