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Hemant Bokil | Answer |Ask -Follow

Financial Planner - Answered on Feb 03, 2023

Hemant Bokil is the founder of Sanay Investments. He has over 15 years of experience in the field of mutual funds and insurance.Besides working as a financial planner, he also hosts workshops to create financial awareness. He holds an MCom from Mumbai University.... more

Question by Prajwal on Feb 03, 2023Hindi

Money

My Salary is around 16 Lacs what would be best for me Should i go for new Regime or follow old Tax methods using 80 C

Ans: Hi Prajwal , In case you are able to exhaust fully the deductions available under sec 80 C and 80 D , Home loan principal and home loan interest and NPS then old regime suits you more but if there is no such tax saving done by you then at your salary new regime is best

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 Partha - Feb 02, 2023Hindi

I earn Rs. 8 lahks as taxable income. Should I opt for the new regime or remain in old regime?

Ans: If you take the full 80C benefit, old regime will be beneficial to you this and next year.

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Question by sunil - Feb 03, 2023Hindi

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My annual income is 10 to 12 lakhs. Which old or new tax regime is better for me? I have some savings like lic etc

Ans: For person not taking advantage of al tax saver investments/deductions, new tax regime is beneficial as per proposal of Budget for FY 23-24

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Question by Chandan - Feb 09, 2023Hindi

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I have salary+ other source(FD , S/B interest) income of 30 lacs p.a. Which regime is better for me.. I don't have any home loan or nps, So considering only 80C , what will be the tax burden in old and new regime..

Ans: Person having taxable income around 30 lacs and take deduction less than 4.25 lacs from housing loan/80C/80D, can opt for new tax regime as new slab rate is likely to be beneficial as per budget proposed for FY 2023-24

In future, you can calculate the tax from following link :

https://incometaxindia.gov.in/Pages/tools/115bac-tax-calculator-finance-bill-2023.aspx

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Question by Srikanth - Feb 10, 2023Hindi

Money

CTC 16.5L. Under 80C saved 1.5L. Pls suggest which tax regime is suit for me old or new.

Ans: New regime

Latest Questions

Nitin Narkhede |59 Answers |Ask -Follow

MF, PF Expert - Answered on Jan 23, 2025

Question by Prahlad - Jan 22, 2025Hindi

Money

Hi Sir, I am retired and 63 years old. Having 50 lacs in equity.1.5 cr MF, 25 lacs in SCSS.expected landproperty sale of 4.5 cr also having own house and no education or marriage expenses of children. Medical insurance of 10 lack for me and wife. However intended to buy a residential property of 3 cr to get relax from capital gain post selling the land. And same will be given to daughter later. Need monthly expenses of 1.25 lack. Since market is too volatile. Kindly suggest way forward.

Ans: Dear Pralhad,
To manage your finances post-retirement and handle market volatility, allocate the ?4.5 crore from your land sale strategically. Use ?3 crore to purchase a residential property to save on capital gains tax and gift it to your daughter later. Allocate the remaining ?1.5 crore into ?50 lakh in SCSS for secure returns (~?16,000/month), ?50 lakh in RBI Floating Rate Bonds or POMIS (~?30,000/month), and ?50 lakh in balanced mutual funds for moderate growth. For your existing assets, keep ?25 lakh in SCSS and divide the ?1.5 crore mutual funds portfolio into 60% balanced advantage or hybrid funds for stability and 40% debt funds for steady income. Maintain 20-25% equity exposure (?50 lakh) in large-cap or dividend-yield funds for growth. Combined with a ?20-30 lakh emergency fund, this ensures a stable monthly income of ?1.25 lakh while safeguarding against market risks and providing for your family's future. Consult a certified financial advisor for personalized tax-efficient strategy
Regards, Nitin Narkhede -Founder Prosperity Lifestyle Hub,
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MF, PF Expert - Answered on Jan 23, 2025

Asked by Anonymous - Jan 22, 2025Hindi

Money

I am 40 year old have 1 daughter aged 8 years current monthly expenses 60 thousand. I have 30 lakh in PF, 25 lakh in stocks, 40 lakh in fd,50 lakh cash, 35 lakh gold, own apartment no loan, 4 crore in real-estate. Please suggest what should I do if I want to retire in the next 2 years.

Ans: Dear Friend,
To retire in 2 years, you’ll need a corpus of approximately ?2 crore to sustain your current monthly expenses of ?60,000, adjusted for inflation and assuming 30 years of retirement. Allocate ?2.5 crore to fixed-income instruments like SCSS, RBI Bonds, or debt mutual funds to generate a stable annual income (~?10 lakh). Retain ?50 lakh in stocks and equity mutual funds for growth and ?30 lakh in balanced mutual funds for stability. Keep ?20-30 lakh in liquid funds or FDs for emergencies.

For real estate, retain your primary residence and explore rental income from other properties. Consider selling one property to reinvest in diversified assets for liquidity. Allocate ?50 lakh for your daughter’s education through a mix of PPF and equity funds. Regularly review your portfolio to account for inflation and market changes. This plan ensures a comfortable retirement and financial security for your family.
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MF, PF Expert - Answered on Jan 23, 2025

Question by Rayulu - Jan 23, 2025Hindi

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Sir iam rayulu 47 years old. Iam invest in mutual fund s axis small cap 5000 ,quant small cap 5000, motilal oswal midcap 5000, nippond india growth fund 5000 and my wife account Nippon small cap 5000 and sbi contra 5000 paragpark flex cap 5000,HDFC flex cap 5000 how to create 1 crore in tem years pls suggest

Ans: Dear Rayulu,
To create ?1 crore in 10 years with your current mutual fund SIPs of ?40,000/month, you need a consistent 12% CAGR. At this rate, your corpus will grow to approximately ?92.7 lakhs. To bridge the gap, consider increasing your SIPs by ?2,000-?3,000/month or adding a 10% annual top-up.

Your portfolio is well-diversified but leans heavily on small-cap funds (Axis, Quant, Nippon). Balance it by adding large-cap or index funds like **UTI Nifty Index** or **Mirae Asset Large Cap** for stability. Monitor your portfolio annually and reallocate if funds underperform consistently for 2-3 years. Staying disciplined, increasing SIPs periodically, and maintaining a balanced portfolio will ensure you comfortably achieve your ?1 crore goal in 10 years.
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Insurance, Stocks, MF, PF Expert - Answered on Jan 23, 2025

Question by Parveen - Jan 23, 2025Hindi

Money

What is the future of Lic jeevan saral?I am paying premium since March 12.I will incur a loss of Rs 3 lacs approximately if I surrender the policy today as suggested by my agent.Please suggest what should I do? I am 54 years old and policy term is 28 years.

Ans: Hello;

My suggestion to you would be to surrender it as early as possible.

Even if you get your premiums back with some or nil return, it is okay.

Agent will tell you about loss because he will get impacted if you surrender the policy.

Recently IRDAI(Oct-2024)passed a diktat whereby the losses to investors surrendering their policy prematurely will be much lower then before.

Best wishes;
X: @mars_invest

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IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jan 23, 2025

Question by Yug - Jan 02, 2025Hindi

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Sir i have telangana state sc caste certificate but I am in Maharashtra so for neet councelling do I have make central caste certificate from Telangana state sc certificate,and if we want to convert the state to central then how's the process

Ans: Hello Yug
the process is very simple, just go to the SETU center of your home town submit your documents, they will ask the documents of your father & grandfather as well and ask them to issue Caste certificate & Validity Central Format.

Milind Vadjikar |887 Answers |Ask -Follow

Insurance, Stocks, MF, PF Expert - Answered on Jan 23, 2025

Asked by Anonymous - Jan 23, 2025Hindi

Money

I am male,29, not yet married. Earn 80k, invest 28k in mf sip, 8k in emergency fund. Family pension 40k. My personal medical cover 3 lac and same amount cover from office. Term plan 50lac. In unforseen circumstances withdraw money from pension. We had medical benefit of cashless hospital treatment, but the same got withdrawn from long time now. Now we need to pay and claim reimbursement as per CGHS rate. My mother is 65. We don't have her medical cover as she has panel benefit but now it is not cashless. I want to cover for her hospitalisation. If I start medical cover now it is costing 1.5 lac to 1.8 lac for 50 lac cover. What should I do ?

Ans: Hello;

You may buy a base health insurance of 5 L for your Mother. (Should cost you ~20-25K/pa)

Then you may buy a super top up health cover for your Mom(~25 L).
It may cost you ~10-12 K/pa).

These are indicative costs for a person of 65 years of age with no disease, without GST. Actual costs may vary from company to company.

Do a thorough study of exclusions, room rent limit, other terms and conditions or consult an insurance advisor.

Also your term insurance is quite low(50 L) you should enhance it to 1 Cr now with the option to extend it to 2 Cr later when your responsibilities increase.

Best wishes;

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IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jan 23, 2025

Asked by Anonymous - Jan 05, 2025Hindi

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Should i take admission in nit delhi civil engineering or not? DOES it have a good placement in civil?

Ans: Hi
NIT Delhi is a great choice with good placements you can go ahead with it.

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IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jan 23, 2025

Asked by Anonymous - Jan 09, 2025Hindi

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Dear Sir My son is currently in 9th - CBSE board. His ultimate aim is getting into IIT. He wants to focus exclusively in national Olympiads Maths and science in Class 10th . He wants to know if there are some good dummy school for Class X - CBSE , which will enable his objective. If yes, will there be any eligibility issue for the same once he appears for JEE Mains after clearing 12th. I support his decision that in scenario if he doesn't clears JEE in 1st attempt, instead of then wasting 1 year at home, and again preparing for JEE, why don't he get the preparations underway from Class 10th onwards, sincerely prepare for olympiads thereby getting an edge in JEE preparation once he enters class 11th. Request your advise regarding availibility of 10th Dummy school and whether there will be some eligibility issue afterwards. Thanks and Regards Ashish

Ans: Hello Ashish Ji
it is not good and advisable for me to write this in detail on a public platform, I will help you with this if you can specify your city. In case of any queries & professional help, you can DM me through insta handle CAREERSTREETS.

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IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jan 23, 2025

Question by ATUL - Jan 10, 2025Hindi

Career

Sir mene 11th dubara Kari hai matalab 10th ke baad 1 year gap hai to ise mujhe jee mains aur advanced ya kisi aur job me problem to nahi aayegi

Ans: Hi Atul
there will not be any problem. Don't worry about it.

Mayank Chandel |1972 Answers |Ask -Follow

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jan 23, 2025

Asked by Anonymous - Jan 14, 2025Hindi

Career

My son is working in an multinational energy company. Work culture is very good, salary also good. He did his B.Tech in CSE in the year 2023. He is working as a Software Eng. in the ERP section. My son is interested more coding related job. He has a GATE (2023) score of 581 (Gen cat). My questions are 1) Is it advisable to do M.Tech in CSE using his GATE score? If yes, then which top Colleges can be preferred? 2) Or, will he continue his present job for few more years to gain experience ++ 3) Or, to switch to a new company? Thanks in advance.

Ans: Hello Sir,
In my view, M.S. is more beneficial & rewarding than doing M.Tech. If Pursuing M.Tech then top colleges are IITs & NITs. If he is happy with the work culture & perks he is receiving then I would suggest continue for 2-3 years to gain a good experience and then decide M.S/M. Tech or MBA.

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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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