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Advait Arora |1263 Answers |Ask -Follow

Financial Planner - Answered on Jun 23, 2023

Advait Arora has over 20 years of experience in direct investing in stock markets in India and overseas.
He holds a masters in IT management from the University Of Wollongong, Australia, and an MBA in marketing from Charles Strut University, NewCastle, Australia.
Advait is a firm believer in the power of compounding to help his clients grow their wealth.... more

Question by m on Jun 02, 2023Hindi

Money

your advice on staying invested in HDFC group stocks

Ans: yes stay invested

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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Ramalingam Kalirajan |8009 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Feb 19, 2025

Question by Sumana - Feb 19, 2025Hindi

Money

I have taken a floating home from Axis Bank for 30 lakh last year, with a interest rate of 8.5%, i have also prepaid 5 Lakh within five months, now i have an outstanding amount of arround of 24 lakh, as the RBI reduced the repo rate, Bank is refusing to reduce interest rate from 8.5% to 8.25%. please suggest what should i do now?

Ans: You took a floating-rate home loan from Axis Bank at 8.5% interest.
You prepaid Rs 5 lakh within five months, reducing your outstanding amount to Rs 24 lakh.
RBI reduced the repo rate, but Axis Bank refuses to lower your rate to 8.25%.
Why Your Interest Rate Is Not Reducing
Banks do not always pass repo rate cuts immediately to all borrowers.
Some loans are linked to MCLR (Marginal Cost of Funds Based Lending Rate), which adjusts slowly.
New loans might be under RLLR (Repo Linked Lending Rate), which reacts faster to RBI rate cuts.
Your loan agreement decides how and when rate cuts apply.
What You Can Do
1. Ask for a Rate Reduction
Request Axis Bank to switch your loan to an RLLR-based loan.
Banks charge a conversion fee, but it might save you lakhs in interest over time.
2. Compare with Other Banks
Check other banks' home loan rates for balance transfer options.
If a bank offers a lower rate, consider switching the loan.
Ensure the processing fee & charges don’t negate the benefit.
3. Negotiate with Axis Bank
If you have a good repayment record, negotiate for a lower spread or margin.
Mention that other banks offer better rates, increasing your bargaining power.
4. Make Partial Prepayments
If you have extra savings, consider small prepayments to reduce interest burden.
Prepaying reduces the principal, which lowers total interest paid.
5. Use a Home Loan Overdraft Account
Check if Axis Bank offers a home loan overdraft facility.
You can park surplus money and withdraw when needed, reducing interest payments.
Best Action Plan
Contact Axis Bank and request a switch to an RLLR-based loan.
Compare other banks for balance transfer options.
Negotiate for a lower spread if staying with Axis Bank.
Consider prepayments to reduce long-term interest costs.
By taking the right step now, you can save a significant amount on interest payments.

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

Ramalingam Kalirajan |8009 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Feb 19, 2025

Asked by Anonymous - Feb 18, 2025Hindi

Money

I have sold a plot worth for 1.85 cr... I have bought a plot worth 1.4 cr... can i keep the remaining in my saving account for house construction or do i put the balance amount in a cgas account

Ans: Since you sold a plot for Rs 1.85 crore and purchased another plot for Rs 1.4 crore, you have a balance of Rs 45 lakh.

Capital Gains Tax Implication
Long-Term Capital Gains (LTCG): If the plot you sold was held for more than 2 years, the profit is considered long-term capital gains (LTCG) and is subject to tax.
Tax Rate: LTCG on real estate is taxed at 20% with indexation benefit.
Reinvestment for Tax Saving: You can save tax by reinvesting the gains in a residential property under Section 54F of the Income Tax Act.
Can You Keep Rs 45 Lakh in a Savings Account?
No, if you intend to claim tax exemption under Section 54F, you cannot keep the balance amount in a savings account beyond the due date for filing your Income Tax Return (ITR).
If you don't invest in a residential house before filing your ITR, you must deposit the unutilized amount in a Capital Gains Account Scheme (CGAS).
You must use the CGAS amount within 3 years for house construction.
What Should You Do?
If You Are Constructing a House
Deposit Rs 45 lakh in a CGAS account before the due date of filing your ITR.
Use this amount within 3 years for house construction to claim full tax exemption under Section 54F.
If You Are Not Constructing a House
The Rs 45 lakh will be taxed as LTCG, and you must pay 20% tax (after indexation benefits).
Consider other tax-saving options, like investing in bonds under Section 54EC (with a 5-year lock-in).
Final Insights
If you plan to construct a house, deposit the Rs 45 lakh in a CGAS account before filing ITR.
If you don’t use this amount within 3 years, it will be taxed as LTCG in the year of expiry.
If you don’t want to construct a house, be ready to pay LTCG tax or invest in 54EC bonds for tax saving.

Best Regards,

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

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T S Khurana |364 Answers |Ask -Follow

Tax Expert - Answered on Feb 19, 2025

Asked by Anonymous - Feb 18, 2025Hindi

Money

My father started a business with his brother in XYZ name and got a Gala in Apmc in the same name where they shared 50-50% share in both business n property after my fathers death i was admitted in as a partner with same ratio after few years my uncle passed in his share to his son so as of now i and my cousin brother are partner the proerty was purchased 296200 in the year 1995 along with registration so 148100 was the share of each and now i want to leave the partnership and also to let go of my share in the premises for which my exixting partner will pay me 3750000 on or before 31.3.2025 I wanted to know how much capital gain tax will be for me if i do not invest secondly can i invest in residential property I would appreciate if guided Thanking you in anticipation

Ans: 01. Considering receipt of Rs.37,50,000.00 as Sale of your share in property/ premises, it would be LTCG in this case.
02. Amount of LTCG without Indexation is Rs.36,02,000.00 (Sale Rs.37,50,000.00 Less Cost Rs.148,100.00). Tax @ 12.50% is Rs.4.50 lakh app.
02. Amount of LTCG with Indexation is Rs.32.12 lakhs (Sale Rs.37,50,000.00 Less Cost Rs.5,37 lakhs {Index 100/363}). Tax @ 20.00% is Rs.6.40 lakh app.
03. You may go for the first option & plan your tax liability. You can invest in residential property to save LTCG tax.
04. Other option to save tax is to purchase Capital Gain bonds. However, investment in Real Estate is always better than other investment.
Most welcome for any further clarifications. Thanks.

T S Khurana |364 Answers |Ask -Follow

Tax Expert - Answered on Feb 19, 2025

Question by Vilas - Feb 17, 2025Hindi

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My salary income will be Rs 12 lakh and expect a long term capital gain of Rs 2.5 lakh from mutual funds. What will be my income tax liability? The year is 2024-25 FY

Ans: Your Tax under Old regime would be around Rs.1,80,000.00 & under New Tax Regime Rs.88,000.00, for the F/Y 2024-25.
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Tax Expert - Answered on Feb 19, 2025

Asked by Anonymous - Feb 17, 2025Hindi

Money

Hi Sir, We have sold our land a year ago, as per the guidelines we purchased new flat in apartment and is still being constructed. Just sale agreement which is not registered is good enough to claim tax benefit? The property is not yet registered and is pending completion and might go beyond two year’s guidelines on reinvestment

Ans: The amount paid within stipulated period under agreement, through banking channels with receipts, shall be available for exemption u/s 54, even if possession is delayed.
Most welcome for any further clarifications. Thanks.

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Insurance, Stocks, MF, PF Expert - Answered on Feb 19, 2025

Question by PD - Feb 19, 2025Hindi

Money

I am a 40 year old married woman, no kids. Due to various health reasons and dissatisfaction with career growth, I do not want to work anymore. But I have always been financially independent - so can I take this decision to retire now? My own assets (not husband) are 1 crore equity, 20 L MF, 50 L in EPF + PPF. Would this be sufficient for me to survive well independently? I have a house in Mumbai under my name, so no rent. But my own monthly expenses are close to 80-90k right now. My family feels I should not take this decision but its my life, and i do not want money lying in accounts and me saving for a future i dont know of...

Ans: Hello;

You may keep 5 L as emergency fund and buy an immediate annuity for corpus of 1.65 Cr.

It may provide you a monthly income of ~around 80 K considering 6 % annuity rate.

You may cut down on your expenses and invest atleast 10-15 K per month in equity savings type mutual funds.

This may be helpful to top-up annuity income after 10-15 years to account for inflation.

Also buy a good helthcare cover for yourself.

Best wishes;

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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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