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Anil Rego |340 Answers |Ask -Follow

Financial Planner - Answered on Aug 27, 2021

Anil Rego is the founder of Right Horizons, a financial and wealth management firm. He has 20 years of experience in the field of personal finance.
He’s an expert in income tax and wealth management.
He has completed his CFA/MBA from the ICFAI Business School.... more

Question by Rankanidhi on Aug 27, 2021Hindi

Money

I and my younger son have purchased a house at Bangalore. I want to gift my portion of the house to my son. Will there be any tax liability to my son?

Ans: As per income tax laws, a gift of any asset (in this case, a house) made to your son (who is a close relative) is fully exempt from tax in the hand of the recipient, without any upper limit. The liability of tax arises only when your son sells the property.

You would need to factor in some costs while registering the change of ownership.

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 K - Jan 22, 2024Hindi

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I am 68 year old pensioner. Last minth I sold my house property getting about Rs 50 lacs. Now 1) Can I gift the entire amount to my son and can get IT exemption for both. 2) Should I show this amount in my tax return as income for current Assessment year.

Ans: Tax on capital gain arises on transfer of house property will be applicable as per the prescribed conditions and required to be shown in Income tax return. However, amount transferred to son as gift is not an income. Thus, not liable to tax.

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Asked by Anonymous - Mar 21, 2024Hindi

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I sold my father's house for Rs 2.30 crores and bought another house for 1 crore 40 lakhs Out of the amount I received for my sold property I transferred 28 lakhs to my sister's account as a gift from my side Pls note i just transferred the money didn't give it like a gift deed How much tax would I need to pay

Ans: I understand that you got flat in inheritance as legal hair as sole owner of property for income tax purpose. In case entire capital gain amount is invested in another property as per specified conditions, no tax on gain amount of property.

Further with reference gift deed, tax will not depend on execution of deed, however, it is advisable to execute gift deed.

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Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Question by Joyal - Apr 30, 2024Hindi

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I have 1 lack rupees in hand. And wanted to invest in mutual fund.. what kind of mutual fund is the best option?

Ans: With 1 lakh rupees in hand, you have several options to consider when investing in mutual funds. The best choice depends on your financial goals, risk tolerance, and investment horizon. Here are a few options:

Diversified Equity Mutual Funds: These funds invest across various sectors and market capitalizations, providing diversification and potential for capital appreciation over the long term. They are suitable for investors with a higher risk tolerance and a long investment horizon of at least 5-7 years.
Large Cap Mutual Funds: Large-cap funds invest in blue-chip companies with a proven track record and stable performance. They offer relatively lower risk compared to mid and small-cap funds, making them suitable for conservative investors seeking stability and moderate returns.
Index Funds: Index funds replicate the performance of a specific market index like the Nifty 50 or Sensex. They have lower expense ratios compared to actively managed funds and offer broad market exposure. Index funds are ideal for investors seeking low-cost, passive investment options with long-term growth potential.
Balanced Funds: Balanced funds, also known as hybrid funds, invest in a mix of equities and debt instruments to provide both growth potential and stability. They are suitable for investors looking for a balanced approach to risk and return and can be ideal for medium-term investment horizons.
Debt Mutual Funds: Debt funds invest in fixed-income securities such as government bonds, corporate bonds, and money market instruments. They offer stable returns with lower volatility compared to equity funds and are suitable for investors with a lower risk tolerance or shorter investment horizon.
Systematic Investment Plan (SIP): Consider investing in mutual funds through a systematic investment plan (SIP), which allows you to invest a fixed amount regularly over time. SIPs help in rupee cost averaging and can reduce the impact of market volatility on your investments.
Before making any investment decisions, it's essential to assess your financial goals, risk tolerance, and investment horizon. Consider consulting with a Certified Financial Planner who can provide personalized advice tailored to your specific needs and objectives. They can help you select the best mutual fund option that aligns with your financial goals and helps you achieve long-term wealth creation.

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Question by Radhey - Jan 03, 2024Hindi

Money

Hi. I have built a good corpus in equity mutual funds slowly & steadily. Now my retirement age is approaching, so I want to redeem these investments and put the money into safe schemes with target return of 7-8% p.a. Liquidity would be a bonus, although not mandatory. I can remain invested for 5-6 years.Please suggest.

Ans: As you approach retirement, it's prudent to prioritize capital preservation and steady returns. Here are some options to consider:

Debt Mutual Funds: Opt for debt mutual funds, such as short-term debt funds or corporate bond funds, which offer relatively stable returns with lower risk compared to equity funds. These funds invest in fixed-income securities and can provide returns in the range of 7-8% p.a.
Fixed Deposits (FDs): Consider investing in bank FDs or corporate FDs, which offer assured returns with capital protection. While FD returns may be slightly lower than your target range, they provide liquidity and stability, making them suitable for short to medium-term investment horizons.
Government Bonds: Invest in government bonds or securities like RBI Bonds or Sovereign Gold Bonds, which offer fixed returns and are considered relatively safe investments. These instruments typically offer returns in the range of 7-8% p.a. and provide liquidity through secondary market trading.
Post Office Monthly Income Scheme (POMIS): POMIS is a government-backed savings scheme that offers fixed monthly income with a target return of around 7-8% p.a. It provides capital protection and regular income, making it suitable for retirees.
Senior Citizen Savings Scheme (SCSS): SCSS is a government-backed savings scheme specifically designed for senior citizens, offering attractive returns and capital protection. It provides quarterly payouts and can be a suitable option for retirement income planning.
Systematic Withdrawal Plan (SWP): Consider setting up an SWP from your existing equity mutual funds to gradually redeem units and receive regular payouts. This allows you to maintain exposure to equities while generating a steady income stream.
Before making any investment decisions, consult with a Certified Financial Planner to assess your specific financial situation, risk tolerance, and retirement goals. They can help you design a customized investment strategy that aligns with your requirements and ensures a smooth transition into retirement.

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Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Asked by Anonymous - Jan 04, 2024Hindi

Money

Can i make 20lakh after 10years if i start with a sip of 1000per month nd increase the amount by 1000 per year.

Ans: To achieve a target of 20 lakhs in 10 years with an initial SIP of 1000 per month increasing by 1000 per year, you need to consider the following factors:

Rate of Return: The expected rate of return on your investments will significantly impact the final corpus. Assuming an average annual return of around 12%, which is a reasonable estimate for equity mutual funds over the long term, you can calculate the potential growth of your investments.
Contribution: Calculate the total contribution over the 10-year period considering the increasing SIP amount each year.
Compounding Effect: The power of compounding plays a crucial role in growing your investments. As your SIP amount increases annually, the compounding effect magnifies, leading to higher returns over time.
Investment Horizon: Ensure you remain invested for the entire 10-year period to maximize the growth potential of your investments.
While it's challenging to provide an exact answer without specific calculations, given the assumptions mentioned above, it's plausible to achieve a corpus of 20 lakhs in 10 years with disciplined investing and the power of compounding. However, it's essential to periodically review your investment strategy and adjust your SIP contributions as needed to stay on track towards your financial goals.

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Question by Abhishek - Jan 22, 2024Hindi

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Hello We having take home salary 100000/- Including me and wife. We are having daughter kid. 20000/- home loan 13000/- vehicle loan 30000/- home expense 100000/- yearly saving insurance 60000/- yearly saving insurance To do it more appropriate. How to plan future investments and savings.

Ans: To optimize your financial plan, start by:

Budgeting: Track expenses and prioritize savings goals.
Emergency Fund: Aim for 3-6 months' living expenses in a high-yield savings account.
Debt Management: Focus on paying off high-interest loans to reduce financial burden.
Retirement Planning: Contribute to retirement accounts like EPF or PPF for long-term security.
Child's Education: Set aside funds in education-specific accounts like SIPs or education plans.
Insurance Review: Ensure adequate coverage for health, life, and property.
Invest Wisely: Diversify investments across asset classes based on risk tolerance and goals.
Consult a Certified Financial Planner for personalized guidance.

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Question by Vijay - Jan 09, 2024Hindi

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I am 61 years old , retired . I have 5 lakhs rupees with me & can invest this amount for a period of 3 years. I can take moderate to high risk. Please inform me where I can invest this amount to get higher returns

Ans: Given your risk tolerance and investment horizon, you may consider the following options:

Equity Mutual Funds: Invest in diversified equity mutual funds with a track record of delivering higher returns over the long term. While equity investments carry higher risk, they also have the potential for higher returns. Choose funds with a proven track record, experienced fund managers, and a well-diversified portfolio.
Balanced Funds: Consider investing in balanced funds, also known as hybrid funds, which offer a mix of equity and debt investments. These funds provide exposure to equities for growth potential while also offering stability through debt instruments.
Sector Funds: If you have a strong conviction about a particular sector's growth prospects, you may consider investing in sector-specific mutual funds. However, be mindful of the higher risk associated with sector funds due to their concentrated exposure.
Systematic Investment Plans (SIPs): You can opt for SIPs in mutual funds, which allow you to invest small amounts regularly over time. This approach helps mitigate the impact of market volatility and can potentially enhance returns through rupee cost averaging.
Consult a Certified Financial Planner: Given your specific financial situation and risk appetite, consulting a Certified Financial Planner can provide personalized advice and guidance on selecting suitable investment options. They can help you develop a tailored investment strategy aligned with your goals and preferences.
Remember to diversify your investments across different asset classes and periodically review your portfolio to ensure it remains aligned with your financial objectives. While seeking higher returns, it's essential to balance risk and return based on your individual circumstances and risk tolerance.

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Question by Rakesh - Jan 23, 2024Hindi

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Hi, I am Rakesh, Please advice me of which One time Mutual Fund provides me monthly return, and I want to invest it in SIP too?

Ans: Hi Rakesh, investing in a mutual fund with a systematic withdrawal plan (SWP) can provide you with a monthly return. You can choose a mutual fund scheme suitable for SWP based on your risk tolerance and investment objectives. Additionally, you can invest in the same mutual fund through a systematic investment plan (SIP) to continue building your investment portfolio while receiving regular monthly returns. It's essential to select a fund that offers consistent performance, aligns with your financial goals, and has a track record of providing steady income over time. Consulting a Certified Financial Planner can help tailor a strategy that meets your needs.

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Question by Mrinmay - Jan 20, 2024Hindi

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Name best 5 ELSS mutual fund to invest SIP amount 10000 for 5-8 years

Ans: I can guide you on what to look for when selecting ELSS funds for your SIP:

Consistent Performance: Look for funds with a track record of consistent performance across different market cycles. Analyze their past returns and compare them with benchmarks and peers.
Fund Manager Expertise: Assess the expertise and experience of the fund manager. A skilled and seasoned manager can navigate market fluctuations effectively and generate better returns for investors.
Expense Ratio: Consider the expense ratio of the funds. Lower expenses can have a significant impact on your overall returns over the long term.
Investment Philosophy: Understand the investment philosophy of the fund house and whether it aligns with your risk tolerance and investment objectives.
Risk Profile: Evaluate the risk profile of the funds. ELSS funds typically invest in equities and can be subject to market volatility. Choose funds that match your risk appetite.
Long-Term Potential: Focus on funds with a long-term investment horizon and potential for capital appreciation over 5-8 years.
By conducting thorough research and considering these factors, you can select ELSS funds that suit your investment goals and time horizon. Consulting a Certified Financial Planner can also provide personalized recommendations based on your financial situation and objectives.

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Question by Rohan - Jan 25, 2024Hindi

Money

Hi I am 22 Years Old and My Salary is 27k Monthly .I am Investing 12k per month 4k in Small cap , 4.5 k in flexi cap and 3.5 k in index sensex fund. Please suggest if I need any changes

Ans: It's impressive to see your commitment to investing at such a young age! Your allocation across small-cap, flexi-cap, and index funds reflects a balanced approach to wealth accumulation. However, as life evolves, so should your investment strategy. Consider periodically reviewing your portfolio to ensure it aligns with your goals, risk tolerance, and market conditions. Consulting a Certified Financial Planner can provide valuable insights and guidance to optimize your investments for long-term growth and financial security. Remember, investing is a journey, and adapting along the way is key to achieving your financial aspirations.

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Ramalingam Kalirajan |1063 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Asked by Anonymous - Jan 25, 2024Hindi

Money

Hi Sir. I'm 31 years old with a monthly income of 90000. Among that I invest 20000 in ppf and I have several monthly SIPs (Rs 500 each) totaling to Rs. 10000 like Bharat Bonds, HDFC multi cap, Mirai Asset Tax Saver, Nippon India Arbitrage, Quant ELSS, SBI liquid, Parag Parikh Flexi Cap etc. Is it possible to get a monthly return of at least Rs. 30000 from my investments after I turn 60?

Ans: It's commendable that you're prioritizing your financial future at such a young age! Planning for a comfortable retirement is crucial, and your disciplined approach to investing is a great start.

To estimate whether you can achieve a monthly return of Rs. 30,000 from your investments after turning 60, consider the following factors:

Investment Growth: Assess the potential growth rate of your investments over the long term. Equity-oriented funds like HDFC Multi Cap and Parag Parikh Flexi Cap have the potential to deliver higher returns, while debt funds like Bharat Bonds and Nippon India Arbitrage provide stability.
Compounding Effect: Take advantage of the power of compounding by consistently investing over time. By reinvesting dividends and staying invested for the long term, you can potentially amplify your returns.
Regular Review: Periodically review your investment portfolio and make adjustments as needed to ensure it remains aligned with your retirement goals. Consider increasing your investment contributions over time as your income grows.
Consult a Certified Financial Planner: Seek professional advice from a Certified Financial Planner to create a comprehensive retirement plan tailored to your specific needs and objectives. They can provide personalized insights and recommendations to help you achieve your financial goals.
While it's challenging to predict the exact amount you'll receive as monthly income at age 60, with diligent saving and prudent investing, you can work towards building a substantial retirement corpus. Stay disciplined, stay focused on your goals, and continue to invest wisely for a secure financial future.

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Ramalingam Kalirajan |1063 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 30, 2024

Question by Janardan - Jan 25, 2024Hindi

Money

Hi.. I am 41 yrs old and can park Rs 10 lacs in HDFC retirement savings fund and SBI Retirement Benefit fund for 10yrs. I would need monthly income after attaing the age 52yrs. Pl advise for the above.

Ans: It's inspiring to see your proactive approach towards securing your financial future. Investing in retirement savings funds is a commendable step towards building a nest egg for your post-retirement years.

By allocating funds to HDFC Retirement Savings Fund and SBI Retirement Benefit Fund for a duration of 10 years, you're laying a strong foundation for your retirement income needs. These funds are designed to grow your investment over time while providing a steady income stream in your retirement years.

As a Certified Financial Planner, I appreciate your foresight in planning for monthly income after the age of 52. It's crucial to continue investing consistently and regularly review your investment strategy to ensure it aligns with your evolving financial goals.

Remember, retirement planning is a journey, and by taking proactive steps now, you're empowering yourself to enjoy a secure and fulfilling retirement in the future.

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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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