Senior Citizen Pensioner, 70 - What's My Tax Exemption Limit in 2023-24?

Ans: Creating a portfolio for your children’s future is a thoughtful and responsible step. Ensuring the right mix of funds can maximise returns, manage risks, and help achieve your financial goals effectively. Below is an evaluation of your selected portfolio, along with recommendations to streamline and optimise it.

Evaluating Your Portfolio
1. Too Many Funds
You have selected 10 funds, which might lead to over-diversification.
Over-diversification can dilute returns and make tracking difficult.
2. Balanced Allocation Missing
There’s a heavy tilt towards equity with insufficient diversification across asset classes.
Adding a debt component can provide stability and reduce volatility.
3. Index Funds
UTI Nifty50 Index Fund and ICICI Prudential Nifty Next 50 Index Fund:
Index funds lack flexibility and cannot outperform during bear markets.
Actively managed funds might be better for your long-term goals.
4. Mid-Cap and Small-Cap Exposure
Nippon India Small Cap Fund:
High risk but high return potential.
Retain for diversification but limit exposure to 10%-15% of your total investments.
5. Thematic and Contra Funds
SBI Contra Fund and Quant Active Fund:
Thematic and contra funds have niche strategies, making them riskier.
Retain only one if aligned with your risk appetite.
6. Gold ETF
Nippon India ETF Gold BeES:
Adds diversification and inflation protection.
However, limit allocation to 5%-10% of your portfolio.
Recommended Portfolio for Your Goals
1. Core Equity Allocation (60%-70%)
Focus on funds that provide long-term stability and growth.

Large-Cap Funds: Replace index funds with actively managed large-cap funds for better returns.
Flexi-Cap Funds: Retain Parag Parikh Flexi Cap Fund for its global diversification and balanced approach.
Mid-Cap and Small-Cap Funds: Retain one small-cap fund (Nippon India Small Cap Fund) for growth potential.
2. Hybrid Funds (20%-25%)
Include hybrid funds to balance equity and debt.

Retain ICICI Prudential Equity & Debt Fund for stability and moderate returns.
3. Gold (5%-10%)
Continue investing in Nippon India ETF Gold BeES for diversification.

Proposed Allocation
To streamline your portfolio, allocate investments more strategically:

Large-Cap Equity Fund: Invest Rs. 4,000 monthly in a strong actively managed large-cap fund like Canara Robeco Bluechip Equity Fund. Large-cap funds provide stability and consistent growth for long-term goals.

Flexi-Cap Fund: Continue investing Rs. 4,000 monthly in Parag Parikh Flexi Cap Fund. This fund offers global diversification and a balanced approach to equity exposure.

Small-Cap Fund: Retain Nippon India Small Cap Fund and allocate Rs. 3,000 monthly. Small-cap funds add high-growth potential but keep the exposure minimal to manage risk.

Hybrid Fund: Allocate Rs. 5,000 monthly to ICICI Prudential Equity & Debt Fund. This hybrid fund balances equity and debt exposure, providing stability with moderate growth.

Gold ETF: Continue Rs. 2,000 monthly in Nippon India ETF Gold BeES. Gold adds a hedge against inflation and enhances portfolio diversification.

Additional Recommendations
1. Debt Component for Stability
Consider short-term debt funds or liquid funds for low-risk capital appreciation.
These can be used for nearer-term educational needs like school fees.
2. Gradual SIP Increases
Increase SIPs by 10%-15% annually as your income grows.
This ensures your investments grow in tandem with inflation.
3. Portfolio Review and Rebalancing
Review your portfolio annually to evaluate performance.
Rebalance if any fund consistently underperforms for over 2-3 years.
4. Tax Planning
Retain an ELSS tax-saving fund to maximise tax benefits under Section 80C.
Final Insights
Your disciplined approach to securing your children's education is commendable. This revised portfolio offers a balanced mix of growth and stability. It ensures you can meet future education milestones confidently. Stay consistent, increase contributions periodically, and monitor performance regularly.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: To generate a monthly income of Rs. 40,000 to Rs. 50,000 while preserving and appreciating your retirement corpus of Rs. 60 lakhs, it is crucial to follow a balanced and diversified investment strategy. Here's a comprehensive plan that balances income generation, capital appreciation, and safety for rainy-day needs:

Investment Allocation for Income and Capital Growth
1. Fixed Income Instruments (30%-40%)
Objective: Stable monthly income and capital protection.

Options:

Senior Citizen Savings Scheme (SCSS): If you are 60+, invest up to Rs. 30 lakhs for quarterly payouts.
Post Office Monthly Income Scheme (POMIS): Offers reliable monthly income with low risk.
Bank Fixed Deposits (FD): Choose deposits with monthly interest payouts for stable cash flow.
Debt Mutual Funds: Consider high-quality short-term or dynamic bond funds for better tax efficiency and returns.
Approximate Allocation: Rs. 20-25 lakhs.

2. Equity Mutual Funds (40%-50%)
Objective: Long-term capital appreciation to counter inflation.

Options:

Balanced Advantage Funds (BAFs): Dynamically allocate between equity and debt for moderate risk.
Large Cap Funds: Focus on blue-chip companies for stability.
Multi-Cap Funds: Provide diversified exposure to large, mid, and small caps.
Approach: Start a Systematic Withdrawal Plan (SWP) from equity funds after 3 years for tax-efficient income.

Approximate Allocation: Rs. 25-30 lakhs.

3. Emergency Fund (10%-15%)
Objective: Cover unforeseen expenses or emergencies.

Options:

Keep 6-12 months’ expenses in liquid funds or high-interest savings accounts.
Use short-term FDs or sweep accounts for easy access to funds.
Approximate Allocation: Rs. 6-9 lakhs.

4. Alternative Investment (Optional - 5%-10%)
Objective: Enhance portfolio diversification.

Options:

Gold ETFs/Sovereign Gold Bonds: Hedge against inflation and economic uncertainty.
Corporate Bonds or Non-Convertible Debentures (NCDs): Ensure AAA-rated for safety.
Approximate Allocation: Rs. 3-5 lakhs.

Monthly Income Strategy
Fixed Income Source: Use interest from SCSS, POMIS, and FDs for regular monthly cash flow.
Equity SWP: Start withdrawing Rs. 15,000-20,000 monthly after 3 years. This ensures tax efficiency and steady income.
Rainy-Day Protection
Maintain a liquid fund with Rs. 6-9 lakhs for quick access during emergencies.

Avoid locking too much in illiquid instruments like long-term FDs or property.

Points to Remember
Rebalance Annually: Review and adjust allocation to align with market conditions.
Tax Efficiency: Debt instruments like SCSS and POMIS are taxable. Equity funds offer LTCG tax benefits.
Inflation Adjustment: Reinvest surplus income to ensure your corpus grows with inflation.
Final Insights
A balanced mix of fixed income and equity can provide regular income and capital growth. Prioritise liquidity for emergencies while optimising tax efficiency. This approach ensures financial independence throughout retirement.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment

Ans: Hello;

Yes your corpus is comfortably capable of providing you the retirement monthly income as desired by you.

As you are closer to retirement you need to move corpus out of small & mid cap funds to low to moderate risk hybrid fund and debt funds such as liquid and ultra short term debt funds.

If you buy an immediate annuity for a sum of 3 Cr, you may expect to receive a monthly income of 1 L+

You may top-up the annuity corpus at periodic intervals to account for inflation.

The option for annuity may be joint life annuity with return of purchase price to your nominee.

Hope you have a good mediclaim insurance coverage for both. Apart from this you may keep aside around 20 L in liquid fund for any contingency requirement.

Avoid direct/pure equity fund exposure as much possible to avoid volatility impact.

You may already have small equity exposure through hybrid funds like equity savings type mutual fund and conservative hybrid debt fund.

If you are keen then some small exposure to bluechip funds for longer horizon(7 yr+) maybe considered.

Kudos for your financial planning and discipline.

Happy Investing;
X: @mars_invest

Ans: Excessive gas can be caused by multiple factors, such as diet, gut health, or lifestyle habits. Since you've been diagnosed with ankylosing spondylitis, inflammation might also be contributing to gut issues. Here are some tips to help manage gas and improve digestion:

Yoga Practices:
Pawanmuktasana (Wind-Relieving Pose): This pose helps release trapped gas. Lie on your back, hug your knees to your chest one at a time, and gently press them down toward your abdomen.
Vajrasana (Thunderbolt Pose): Sit on your heels immediately after meals to aid digestion.
Cat-Cow Pose: This gentle movement improves spinal flexibility and stimulates digestive organs.
Home Remedies for Gas:
Ajwain (Carom Seeds) and Black Salt: Mix 1 tsp of ajwain with a pinch of black salt. Consume with warm water.
Fennel Tea: Boil fennel seeds in water, strain, and sip after meals.
Ginger and Lemon: Mix grated ginger with a few drops of lemon juice and chew before meals.
Important Notes:
Avoid gas-triggering foods like beans, carbonated drinks, and fried items.
Maintain a regular meal schedule and eat smaller portions.
Consult a healthcare provider for dietary guidance and a yoga coach for safe practice tailored to ankylosing spondylitis.

Warm Regards,
R. Pushpa, M.Sc (Yoga)
Online Yoga & Meditation Coach
Radiant YogaVibes
https://www.instagram.com/pushpa_radiantyogavibes/

Ans: Hello Janvi
If distance is not an issue then prefer CSE @ VIT over UIET.
Best of luck for your upcoming future.

If satisfied, please like and follow me.
If dissatisfied with the reply, please ask again without hesitation.
Thanks.

Radheshyam

Ans: Your question is not clear to me. Please write it properly. Professor

Ans: Hi Jaimin,
Greetings.




The answer which i have given below is based on last year.
ANSWER 1: If you want to pursue medicine in ARMED FORCES MEDICAL COLLEGE (AFMC), PUNE, (Information brochure Admission to MBBS course-2024, PAGE NO. 6)

GENERAL 6. A candidate seeking admission to the MBBS Course in AFMC is eligible if he / she fulfils the following criteria: - (a) The candidate should be a citizen of India. Foreign nationals of Indian origin may be admitted into AFMC only after they have acquired Indian Citizenship or in respect of whom the Ministry of Home Affairs issues a certificate of eligibility. This however does not apply to the 05 Govt Sponsored Candidates from Friendly Foreign Countries. (b) Must be unmarried. Marriage during the course is not permitted. (c) Should be medically fit as per prescribed standards by the Govt of India, Ministry of Defence (see Appendix ‘A’). (d) Age criteria: The candidate should have attained the age of 17 years at the time of admission or should be completing that age on or before 31 Dec of the year of admission of the first year of MBBS course but must not have attained the age of 24 years on that date, i.e., must have been born not earlier than 01 January 2001 and not later than 31 December 2007. Academic Qualifications 7. Candidates must have passed one of the qualifying examinations listed at sub-para (a) to (j) below in the FIRST ATTEMPT with English, Physics, Chemistry and Biology/ Bio-technology taken simultaneously and securing not less than 60% of the aggregate marks in these three science subjects taken together and not less than 50% marks in English and 50% marks in each of the science subjects. They must have also passed an examination in Mathematics of the tenth standard. The examinations are: - (a) The Higher Secondary (10+2) or equivalent examination in science of a statutory Indian University/board or other recognized examination body with English, Physics, Chemistry & Biology/ Bio-technology which shall include practical test in all of these science subjects. (b) The Pre-professional/Pre-Medical examination with English, Physics, Chemistry and Biology/ Bio-technology (after passing either Higher Secondary School examination or pre- University or equivalent examination) which shall include practical test in these science subjects. (c) 1st year of three years Degree course of a recognized University with English, Physics, Chemistry, and Biology/ Bio-technology including practical test in science subjects provided the examination is a University Examination.

SO TO GET ADMISSION IN AFMC - 17 YEARS, FIRST ATTEMPT IN HSC, 60% AGGREGATE AND NOT LESS THAN 50% IN ENGLISH AND SCIENCE SUBJECTS.

ACCORDING TO AIIMS:
ELIGIBILITY
For Indian nationals:
An applicant is eligible for admission to the competitive Entrance Examination of the Institute if the following criteria are met with:-
Nationality: He/She is an Indian citizen
Age: He/She has attained or will attain the age of seventeen (17) years as
on the 31st of December of the year of admission. Candidates attaining seventeen   years on 1st January 2001 or later will not be eligible to appear at  the   competitive entrance examination.
Essential
Qualification:   He/She should have passed the12th Class under the 10+2 Scheme /Senior SchoolCertificate Examination or  an equivalent examination of a recognized Board of  any Indian State with ENGLISH and Medical Group of  subjects, namely   PHYSICS, CHEMISTRY (Organic and Inorganic) and BIOLOGY  (Botany and  Zoology) :
                                              OR    
The Intermediate Science (I.Sc.) or an equivalent examination of a recognized Indian university or a  recognized Board of Education of any Indian State with ENGLISH and the Medical Group of Subjects,  namely PHYSICS, CHEMISTRY (Organic and Inorganic) and BIOLOGY (Botany and Zoology):
                                               OR
Pre-Medical or Pre-Professional examination of the integrate M.B.B.S. course with ENGLISH, PHYSICS,  CHEMISTRY (Organic and Inorganic) and BIOLOGY  (Botany and Zoology); after having passed either the  higher Secondary School Examination o Pre-University Examination, or an equivalent Examination;
                                                 OR
The 1st year examination of the 3-year B.Sc degree course with ENGLISH,  PHYSICS, CHEMISTRY (Organic and Zoology) after passing the Higher Secondary or Pre-University Examination.
OR
Any other examination with the required subjects which in scope and
standard(including its courses and  syllabus) is considered by the institute to be equivalent to Pre-medical/Intermediate Science examination of an Indian University.
Minimum
Aggregate  : He/She should have obtained a minimum of SIXTY PERCENT (60%) marks in aggregate in the 4   compulsory subjects of ENGLISH, PHYSICS, CHEMISTRY (Organic and Inorganic) and BIOLOGY (Botany and Zoology).

FROM PRIVATE COLLEGE: MBBS Course (200 Seats)
Candidates who are citizens of India, NRIs, PIOs, OCIs and foreign nationals are eligible to take NEET.
Qualifying Exam: 10+2 or equivalent with Physics, Chemistry, Biology/Biotechnology and English as core subject in both Classes 11 and 12 from a recognised board.
Minimum Age Requirement: 17 years as on December 31 of the year of admission
Maximum Age Limit: No upper age limit
Qualifying Marks: UR - 50%, OBC/SC/ST - 40%, PWD - 45% (minimum aggregate marks only for PCB subjects)
Maximum Attempts: No limit on the permitted number of attempts.
Nationality:Indian Nationals, NRIs, OCIs, PIOs & Foreign Nationals


Based on the details provided, you are eligible to pursue a medicine course in India, even though you have failed your HSC. Once you clear your +2 exams and achieve the necessary marks to gain admission through NEET, you can apply. However, to gain admission to AIIMS, you must have an aggregate score of 60%. Unfortunately, you are not eligible for admission to AFMC. Therefore, you can consider other options besides AFMC to pursue your studies in medicine.
ALL THE BEST.

Ans: BCA course is more suitable for science students rather than arts students. So, universities are whitely looking for Math and some science subjects as prerequisite. So, you should concentrate on your won subjects like History, Poltical science, Economics, Geography, English and Hindi.

Ans: Life is precious, we decide best option in any situation. World is full of opportunities.Be sincere
Blessings