I surrendered my Kotak Life ULIP after 7.5 years: How much tax will be deducted?

Ans: SRM Kattankulathur’s CSE programme, backed by NAAC A++ and NBA accreditations, offers a robust curriculum with specializations in AI/ML, Cloud and Cybersecurity, supported by over 7 000 high-performance systems, a Tier-2 data centre and supercomputer centre. Its placement cell secured 5 546 offers from 980 recruiters in 2024, with an average package of ?7.19 LPA and 65 LPA highest. KIIT Bhubaneswar’s CSE, under NAAC A+ accreditation and Institute of Eminence status, features modern AI, IoT and cybersecurity labs, strong research centres and industry partnerships, achieving 90% placement consistency with 5 200 offers and an average package of ?8.50 LPA in 2023–24. Both boast experienced PhD-faculty, active alumni networks and extensive internship pipelines.

Recommendation: Choose KIIT Bhubaneswar CSE for its higher placement consistency, stronger average package, and national eminence, while SRM KTR remains an excellent option for premium infrastructure, diverse specializations, and competitive recruiter diversity. All the BEST for Admission & a Prosperous Future!

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Ans: Dear Ms. Premlata,
Thank you for your message, and I truly appreciate your concern and dedication toward your son’s well-being and education. I would strongly recommend getting a formal assessment done by an educational psychologist or rehabilitation psychologist, or special educator. This will help identify your son’s specific needs and guide you with appropriate remedial strategies. Based on the results, you can explore individualized learning support or remedial classes that use interactive and multi-sensory teaching methods. It would also be helpful to speak with your son’s school authorities and request exam accommodations such as extra time, a quiet exam room, or a writer if required. These supports are permitted under CBSE and state education boards for students with attention-related difficulties, provided you submit the necessary documentation. Also Physical activity, mindfulness exercises, or even short walks can help him stay focused and relaxed. If you are in Mumbai Ummeed Child Development center is one of the organization, similarly in Delhi, Action for Autism can be considered. Wishing your son very best.
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Ans: Meenakshi, can you please provide your COMEDK Rank with the marks scored (if you had checked the answer key)? Also, please let me know any other options you have other than YMCA/RVCE to answer precisely.

Ans: A SRMJEEE Phase-3 UG rank is not used for M.Tech admissions at SRM Vadapalani, which strictly requires a valid GATE score or equivalent qualification and a minimum 50% in your qualifying B.Tech degree. The Vadapalani campus’s Smt. Valliammai Scholarship Policy applies only to first-year B.Tech entrants based on Class XII percentages and does not extend to postgraduate programs. M.Tech candidates may explore external fellowships such as AICTE-PG or state government scholarships, but SRMIST offers no dedicated tuition waiver for M.Tech at Vadapalani.

Recommendation: Pursue SRM Vadapalani’s M.Tech CSE only after securing a competitive GATE score; simultaneously apply for national-level PG scholarships (AICTE-PG, GPAT, or state-sponsored) to offset your fee burden. All the BEST for Admission & a Prosperous Future!

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Ans: Evaluating these three academic options reveals distinct advantages based on institutional strengths and program focus. SICSR Pune's BBA IT program, ranked 12th nationally by India Today 2024 and part of Symbiosis International's Institute of Eminence framework, features NAAC A++ accreditation, strong industry partnerships with Amazon, IBM, Persistent Systems, TCS, and Deloitte, advanced computing and networking laboratories, and a dedicated placement cell achieving 80-90% branch-wise placement consistency over three years with an average package of ?7.12 LPA. The program requires ?8.72 lakh in total fees over four years with mandatory SET entrance and offers experiential learning through internships and live projects. Delhi University's BCom off-campus program through constituent colleges like Deen Dayal Upadhyaya College provides NAAC A+ accreditation, affordable fees ranging from ?10,000 to 30,000 annually, 60-70% placement consistency with median packages of ?4.5-5.5 LPA, access to prestigious DU alumni networks, and recruitment by established firms including KPMG, Deloitte, EY, and PWC. However, students must secure admission through competitive CUET scores for off-campus colleges. GL Bajaj's BBA program in Greater Noida boasts AICTE approval, NAAC A+ accreditation, total fees of ?2.86 lakh for three years, a 95% placement rate with the highest packages reaching ?12 LPA, modern infrastructure with well-equipped labs, and recruitment by companies like TCS, Infosys, HCL, Genpact, and Capgemini.

recommendation Given the superior brand recognition, comprehensive IT-focused curriculum, stronger industry connections, and higher placement packages, prioritize SICSR Pune's BBA IT program despite higher fees; alternatively, consider DU BCom off-campus for its prestigious legacy and cost-effectiveness if budget constraints exist, with GL Bajaj BBA serving as a valuable option for balanced fees and solid placement support. All the BEST for Admission & a Prosperous Future!

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Ans: Hello Ajay
Clear your backlogs first through IGNOU’s upcoming exam cycles; only after that can you pursue higher studies, write competitive exams, or apply for most jobs. Meanwhile, build skills or certifications in your field to stay productive.

Good luck.
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Radheshyam

Ans: Hello Sairam
Your son can target colleges like Kumaraguru, Bannari Amman, Rajalakshmi, Sri Venkateswara, and Saveetha for Biotech, Medical Engineering, or ECE in Tamil Nadu.

Good luck.
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Radheshyam

Ans: Hello dear.
M.Tech @ SRM can be a reasonable choice. However, since you already have an M.Sc. in Clinical Nutrition, it may not add significant value unless it's from a top research institute. Instead, consider: (1) a Ph.D. in Nutrition or Public Health if you're inclined toward academia, (2) a PG Diploma in Dietetics or Sports Nutrition for clinical practice, or (3) international master's programs like MPH or MSc in Food Science for broader opportunities. In summary, the SRM M.Tech is acceptable, but there are better options aligned with your goals. The final choice/decision will be yours.

Good luck.
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Radheshyam

Ans: ? Understand the seriousness of your EMI burden
– Your EMI is more than Rs.70,000.
– Your take-home is Rs.84,000.
– This means more than 80% goes in repaying loans.
– This is a very high debt-to-income ratio.
– It leaves very little for your monthly needs.
– Saving and investing becomes almost impossible.
– This can affect your peace of mind and stability.

? Start with identifying the types of loans
– List all loans with EMI and balance.
– Note the interest rate and tenure for each.
– This includes personal loans, credit card dues, car loans, etc.
– Check which loan has the highest interest rate.
– This step gives full clarity on your debt structure.

? Avoid any new loans or expenses for now
– Don’t take more loans to handle current EMIs.
– That will only increase your burden.
– Avoid using credit cards for EMI or cash withdrawal.
– Stop or pause any high-cost spending.
– No gadgets, no travel, no luxury expenses.

? Build a basic household budget immediately
– Track every rupee of your monthly spending.
– Separate must-have expenses from avoidable ones.
– Rent, groceries, medicines, utilities – keep these.
– Remove online shopping, OTT, dining out, weekend trips.
– Live very simple for the next 12–18 months.

? Find options to reduce your EMI load
– Try negotiating lower interest rate with lender.
– Use balance transfer to reduce EMI.
– Banks give lower rate for good credit scores.
– Extend loan tenure to lower monthly EMI.
– This increases total interest, but gives relief now.

? Try part-prepayment of small loans
– If any loan has low balance, try prepaying it.
– Use bonus, PF loan, family support if needed.
– Start with highest interest loan.
– That will save more in long run.

? Explore debt consolidation with proper advice
– Sometimes combining loans into one can help.
– But only do this if interest rate is lower.
– You must study terms carefully.
– Don’t go for informal lenders or apps.
– Only use regulated NBFCs or banks.

? Emergency fund is missing – create it gradually
– With such tight cash flow, emergency fund is vital.
– You can’t handle job loss without it.
– Aim for Rs.25,000 to Rs.50,000 first.
– Slowly grow it to 3 months of EMI and needs.
– Park it in safe liquid instruments.

? Investment should be paused temporarily
– Right now your focus is loan reduction.
– Investments can wait for 6–12 months.
– Clear debt and build stability first.
– Later, you can invest for goals.

? Avoid insurance-linked investments
– If you hold any ULIP, endowment or money-back plans, exit now.
– These give poor returns and have high charges.
– They reduce your liquidity and flexibility.
– Shift to pure term plan for protection.
– Invest separately in mutual funds later.

? Surrender and re-invest policies if applicable
– If you have LIC or similar policy, review it.
– If it is not term insurance, check surrender value.
– Exit non-performing plans and reinvest in mutual funds.
– Mutual funds are flexible and goal-based.

? Resume investments once cash flow improves
– Start small SIPs only when your EMI is manageable.
– Use actively managed mutual funds for better returns.
– Index funds look cheap, but have limits.
– Index funds don’t beat the market.
– Active funds try to give better than average return.

? Why index funds are not suitable for your case
– Index funds follow market blindly.
– They do not adjust based on risk or time horizon.
– They may underperform during crashes.
– You need customised growth, not average returns.
– Active funds managed by experts offer more.

? Mutual fund route – regular plan with MFD and CFP
– Don’t go for direct funds on your own.
– Direct funds give no hand-holding or guidance.
– Choosing wrong fund can cause loss.
– MFD + CFP can guide based on your goals.
– They help monitor and rebalance regularly.

? Focus on income stability and skill improvement
– Parallel to loan control, work on job stability.
– Upgrade skills in your domain.
– Learn tools, certifications or soft skills.
– Job loss or salary cut can worsen your loan problem.
– Keep improving yourself every 6 months.

? Plan for goals once loans are under control
– After 1–2 years, plan for these goals:
– Emergency fund
– Child education
– Retirement
– Home down payment (only if within budget)
– Prioritise retirement even if child is small.
– Don’t depend on property or pension in future.

? Always protect your family with insurance
– Term insurance is needed if you have dependents.
– Rs.50L to Rs.1Cr cover is ideal.
– Premium is low and benefit is high.
– Also, get health insurance for entire family.
– Don’t rely on company medical policy alone.

? Don't panic or lose confidence
– Many people face such debt situations.
– It’s a phase, not the end.
– Proper budgeting and planning can solve it.
– Stay disciplined and committed.
– One year of effort can change everything.

? Create a 3-step action plan from today
– Step 1: Review all EMIs and spending.
– Step 2: Try restructuring or partial prepayment.
– Step 3: Build emergency fund and resume SIP later.

? Stay away from high-risk or quick return plans
– Avoid crypto, trading, Ponzi apps or get-rich schemes.
– You can’t solve debt through speculation.
– Safety and liquidity matter more now.

? Keep reviewing your plan every 3 months
– Sit with a Certified Financial Planner regularly.
– Share updates and revise your goals.
– Consistency in execution is more important than speed.
– Financial freedom takes time but is possible.

? Finally
– Focus now is on survival and regaining balance.
– Once done, you can restart your investment journey.
– With planning and patience, you can still build wealth.
– You already took the first step by asking.
– Take action now, even if small.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in
https://www.youtube.com/@HolisticInvestment