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As a new investor, how can I minimize taxes on the sale of my property within a year?

Milind

Milind Vadjikar  |238 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Sep 28, 2024

Milind Vadjikar is an independent MF distributor registered with Association of Mutual Funds in India (AMFI) and a retirement financial planning advisor registered with Pension Fund Regulatory and Development Authority (PFRDA).
He has a mechanical engineering degree from Government Engineering College, Sambhajinagar, and an MBA in international business from the Symbiosis Institute of Business Management, Pune.
With over 16 years of experience in stock investments, and over six year experience in investment guidance and support, he believes that balanced asset allocation and goal-focused disciplined investing is the key to achieving investor goals.... more
Asked by Anonymous - Sep 28, 2024Hindi
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What are the STCG tax saving instruments available for Sale of property within one Year.

Ans: My view is that their is NO way you can avoid short term capital gain tax accruing due to sale of property within one year.

However you may consult a CA to get a specific feedback on aspects of tax saving in your case.
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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Milind

Milind Vadjikar  |238 Answers  |Ask -

Insurance, Stocks, MF, PF Expert - Answered on Sep 28, 2024

Asked by Anonymous - Sep 26, 2024Hindi
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I am a doctor currently practicing in my home town with my wife.I have three financial goals 1. To accumulate atleast 1.5 to 2cr in 5 years - to establish a health centre 2. 15 cr in 15 years - for my kids education 3.25 cr in 30 years for our retirement Can you suggest us how to go about it?
Ans: Hello;

1. First target is to accumulate 1.5-2 Cr for establishing health centre. For the achievement of this target either you can do a flat monthly sip of 1.8 L for 5 years
Or
You may begin with a monthly sip of 1.25 L and top-up each year by 20% upto 5 years.

Both routes will yield you a corpus of 1.5 Cr for health centre as desired.

2. Second target is 15 Cr target for kid's education to be achieved in 15 years. For the achievement of this target either you can do a flat monthly sip of 2.7 L for 15 years.
Or
You may begin with a monthly sip of 1.2 L and top-up each year by 15% minimum upto 15 years.

Both options will led you to a corpus of 15 Cr for child education as desired.

3. Third and important target of retirement corpus of 25 Cr to be achieved in 30 years.
For the achievement of this target either you can do a flat monthly sip of 57 K for 30 years.
Or
You may begin with a monthly sip of 24 K and top-up each year by 10% minimum upto 30 years.

Either ways you will achieve your targeted retirement corpus of 25 Cr.

A modest return of 13% assumed for investments in pure equity mutual funds for all workings.

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

Happy Investing!!

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

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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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