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Torn Between Love and Tradition: Engaged Woman Seeks Guidance Amidst Boyfriend's Parental Opposition

Anu

Anu Krishna  |1494 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Jan 20, 2025

Anu Krishna is a mind coach and relationship expert.
The co-founder of Unfear Changemakers LLP, she has received her neuro linguistic programming training from National Federation of NeuroLinguistic Programming, USA, and her energy work specialisation from the Institute for Inner Studies, Manila.
She is an executive member of the Indian Association of Adolescent Health.... more
Asked by Anonymous - Jan 17, 2025Hindi
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Relationship

i am in a relationship with a guy who is 1 year older than me, we have a really good relationship, lot of things between us is common , similar values, beliefs , same sense of humour and we both admire each other so much but he is from jaat community and his parents are against of our marriage, initially he said i will convence them but later on accepted his mothers wish but then again came back to me saying he loves me than later on again accepted a another arrange marriage proposal, i am not sure what is wrong with him , what does he want, we have such a happy fun loving relationship like best friends and we enjoy we others time a lot i just dont get it what does he want

Ans: Dear Anonymous,
You are not sure what is wrong with him? You are in relationship with someone who cannot make a commitment and will get swayed by what others say.
He wants all the nice moments and fun times and not the commitment part. Huge red flag for you!
Guard yourself now and be smart to not give in anymore to him; it's possible that he may go ahead and listen to what his mother says and you will end up getting hurt even more. Take care of that...

All the best!
Anu Krishna
Mind Coach|NLP Trainer|Author
Drop in: www.unfear.io
Reach me: Facebook: anukrish07/ AND LinkedIn: anukrishna-joyofserving/

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Anu

Anu Krishna  |1494 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Feb 11, 2022

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Relationship
 Hi Anu Ji,I am in a relationship with a guy from one year who is from a different state and different background. I am from north and he is from South. As of now the relationship is perfect when we both are together but I am stressed about my future as this guy had warned me that future is very difficult due to family issues and all. Our relationship also started on a very different note. We were close friends for a few years and then got close over a few incidents. I have gone out all the way to put my efforts in the relation because it looked picture perfect what I was creating. He has given me no promises of the future telling things are very different in our state. Earlier he used to ask me to be casual, but both of us know that my nature is not casual, he has apologised also feeling that he is wasting my time.He also asked if I want to look for a proper marriage partner.. all his words show this and makes me scared that in future we will be separated.On the contrary his actions are so sweet and romantic. Multiple times I thought I should think straight and leave but I guess I am too attached and so is he.My parents keep on pushing for rishtas as I am in prime age to be married, and I am only delaying this because of this guy, what should I do? Why are his actions and words not in sync. I have also informed my parents about him. If he is not willing to take it forward he should leave me and go na. Why should I initiate any breakup when I like my life with him.Help me with ways to talk sense into this guy so that he has courage to take us up at his home and family.Any guidance will be helpful. Please keep it anonymous.
Ans:

Dear SS,

When his words and actions are not in sync, what exactly are you pushing for?

Are you hoping for him to see things your way? He seems to have made it clear that he wants this to be casual.

It could be one of two things:
1. He isn’t ready for a commitment as of now
2. He isn’t ready to stir the hornet’s nest back at home and face the music

Either case, this is holding you up and your movement in life. Why do that?

Ask yourself:

  • How long do I want to wait for a strong commitment from him? After which, you most certainly must move ahead
  • Will he ever be able to convince his parents of this relationship? Now, if it’s a NO, you know what to do
  • How fair is it to keep my life on hold for him? – If it’s a NO, check what is this hold up costing you this very moment

Please have an honest discussion with him on how this is affecting you and what you exactly want.

Take a call based on his responses and his involvement in the discussion that concerns the future of your relationship.

Best wishes and take charge NOW.

..Read more

Kanchan

Kanchan Rai  |525 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 08, 2023

Asked by Anonymous - Dec 05, 2023Hindi
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Hi Ma'am, I have been in a relationship for almost a decade now i.e. since graduation and now me and my bf are doing good in our respective jobs. Since we come from different religions, we have been trying to convince our family very much for last two years to let us happen and get married and in these scenarios during covid I lost my father too now that it's just me and my mom and my elder sister due to societal pressure also they were not agreeing for us but then I could feel now that his family was some how just dragging us showing fake acceptance for me but still being very orthodox but in this process me and my bf got committed to each other very seriously in terms of physical ways but now his family is completely denying the fact that they don't us to happen and are literally forcing his son to marry in their caste. On this thing, the guy is trying to make me understand with false accusations that it's not his family butine which doesn't want us to proceed since my family wanted a mutual ways of marriage and not just his culture thing or else court marriage was the last opt but my guy is saying no I can never go against my family this and that you better understand and I don't know I'm feeling very cheated that now at this stage after being this close where he should have been standing strong with me he's pushing me to set back I don't know iam so clueless I got no energy to get back to being productive in my life or something whereas this acts of his and his family's forcible nature is somehow triggering me to opt for legal methods....I need guidance it's all dark for me and feeling too used.
Ans: Hello Dear,
I'm truly sorry to hear about the challenges you're facing in your relationship. It's a complex and emotionally charged situation, and it's understandable that you're feeling hurt and confused It's okay to take some time for self-reflection and self-care. Understand and acknowledge your emotions before making any decisions. Give yourself the space to process the situation and its impact on your well-being. Have an open and honest conversation with your boyfriend about your feelings. Share your concerns, fears, and expectations. Encourage him to express his feelings and concerns as well. Effective communication is crucial at this stage. Reflect on your priorities and values in a relationship. Consider whether the current situation aligns with what you envision for your future. Be honest with yourself about what you need and deserve in a partnership. If you're contemplating legal steps, it's advisable to seek legal advice to understand the implications and options available to you. Consult with a lawyer who can provide guidance based on your specific situation and laws. While it's crucial to address the relationship concerns, also focus on your personal growth and well-being. Pursue activities that bring you joy, engage in self-improvement, and consider your long-term goals. Assess whether the relationship is healthy and supportive. Consider whether both partners are willing to work through challenges and make compromises for the well-being of the relationship. Establish clear boundaries for yourself. Determine what you are willing to accept and what you cannot tolerate in the relationship. It's crucial to prioritize your own well-being. If both families are open to it, consider seeking the help of a mediator or counselor who can facilitate discussions and help find common ground. Mediation can be a constructive way to address conflicts and find solutions.
Ultimately, prioritize your own happiness and well-being. If the relationship is causing you significant distress, it's important to evaluate whether it's a healthy and fulfilling partnership for you. it's okay to seek professional help or legal advice if needed. Making decisions about your future can be challenging, but it's crucial to prioritize your own happiness and mental health. If you find it difficult to navigate these issues on your own, seeking guidance from professionals or supportive friends can make a significant difference.

..Read more

Ravi

Ravi Mittal  |520 Answers  |Ask -

Dating, Relationships Expert - Answered on Nov 18, 2024

Asked by Anonymous - Nov 18, 2024Hindi
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Hi, i am in a relationship with a guy since last 14 years but due to some ups-downs in his life he denied to marry me two years ago so i remain single in that period and searching for suitable guy in a arrange marriage setup. Now, in this year he came back and said he want to marry me, since i did not able to find any match till then so i said yes, i tried to convince my parents for him but they did not got convinced and started forcing me for arrange marriage for the sake of community and their pride, i dont know what should i do, because whatever they are bringing are good matches and i would have consider or marry them if i am not committed to him.
Ans: Dear Anonymous,
If you have really decided that you will only marry him, then you should continue trying to convince your parents. Both of you are consenting adults and I am sure you both love each other since you have been together for so many years. Highlight these and any other positive points in your partner to your parents; let them know he is a nice person and he has been committed to you for so long.

I am not sure whether you two broke up for a while or just weren't sure about marriage, but either way, it looks like there was a break in the relationship. So this time around, if you want to rethink the relationship, there is no harm. And if you are not sure what you want, you should take some time to think about it. Don't rush.

Moreover, consider your parent's point of view. Why are they not convinced? Are they seeing something in your partner that you are overlooking because of love? You can ask them for the reason directly and evaluate how reasonable they are.
Hope these suggestions help

Best Wishes.

..Read more

Latest Questions
Moneywize

Moneywize   |178 Answers  |Ask -

Financial Planner - Answered on Feb 06, 2025

Asked by Anonymous - Feb 06, 2025Hindi
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Money
I am 34, earning 15 LPA planning to retire at the age of 45. I want to invest 20 lakhs lump sum to generate corpus of 7 cr. Where and how should I invest?
Ans: To generate a corpus of Rs 7 crore by the time you are 45, starting with a Rs 20 lakh lump sum investment at 34, you need to consider the power of compounding, high-return investments, and disciplined portfolio management. Here's how you can structure your investments:
Key Assumptions:
1. Time Frame: 11 years (from age 34 to 45).
2. Required Corpus: Rs 7 crore.
3. Initial Investment: Rs 20 lakh.
To grow Rs 20 lakh to Rs 7 crore, the required annual return would be approximately 24% compounded annually. Achieving such high returns involves a significant degree of risk, so it's important to balance the portfolio carefully.
Investment Strategy:
1. Equity Mutual Funds (High Risk, High Return):
• Equity is the primary asset class to generate high returns over the long term. Historically, equity mutual funds can provide returns of around 12-18% annually, but this is subject to market performance.
• Suggested Funds:
o Large-cap funds: For stability and steady growth (e.g., HDFC Top 100 Fund, Mirae Asset Large Cap Fund).
o Mid-cap and Small-cap funds: Higher growth potential but more volatile (e.g., Axis Midcap Fund, Nippon India Small Cap Fund, Motilal Oswal Midcap Fund).
o Flexi-cap funds: These provide exposure to both large and mid-cap stocks (e.g., Parag Parikh Flexi Cap Fund, HDFC Flexi Cap Fund).
• Allocation for Equity Funds: Around 70-80% of your lump sum (Rs 14 lakh - Rs 16 lakh) can be invested in equity funds, targeting high growth.
2. SIP Investments (For Dollar-Cost Averaging):
• While you have a lump sum, consider continuing SIPs in equity funds over the years to help with dollar-cost averaging (DCA), which reduces the risk of investing a lump sum at market highs.
• Start SIPs of Rs 30,000-Rs 40,000 per month, targeting high-growth equity funds to further compound your wealth.
3. Hybrid Funds (Moderate Risk):
• To balance the portfolio, invest in hybrid funds, which include a mix of equity and debt. They can moderate volatility and provide steady growth.
• Suggested Funds: HDFC Hybrid Equity Fund, ICICI Prudential Balanced Advantage Fund.
• Allocation for Hybrid Funds: Around 10-15% (Rs 2 lakh - Rs 3 lakh).
4. Real Estate (Optional):
• If you have any plans of investing in real estate, a portion of your portfolio can be used here. Though real estate generally appreciates at a slower rate, it can be a good long-term investment. However, avoid allocating too much to it since real estate is illiquid.
• Allocation for Real Estate: Optional, but around 5-10% of the lump sum (Rs 1-2 lakh).
5. Debt Instruments (Low Risk, Capital Protection):
• While the primary focus should be on high-return equity, it's prudent to keep a small portion in debt funds or bonds for stability.
• Suggested Funds: HDFC Corporate Bond Fund, ICICI Prudential Liquid Fund.
• Allocation for Debt Instruments: Around 5% (Rs 1 lakh).
Expected Returns:
1. Equity Funds: Targeting returns of 15-20% annually.
2. Hybrid Funds: Targeting returns of around 10-12% annually.
3. Debt Funds: Targeting returns of 6-7% annually.
Tracking and Adjusting:
1. Monitor Portfolio: Review the portfolio every 6-12 months to ensure the investments are aligned with your goal. Consider reallocating based on market conditions.
2. Tax Considerations: Ensure tax efficiency by investing in tax-efficient funds and making use of tax exemptions (e.g., ELSS for tax saving under 80C).
3. Rebalancing: As your investment grows, shift gradually from high-risk assets (equity) to lower-risk assets (debt/hybrid) as you approach the target.
Potential Outcome:
Assuming you achieve the required return of 24% annually (through a combination of equities, SIPs, and compounding), your Rs 20 lakh investment can grow significantly by 45. However, the exact growth rate will depend on market performance, the consistency of returns, and your disciplined investment approach.
Conclusion:
Achieving a Rs 7 crore corpus from Rs 20 lakh in 11 years is ambitious but possible with a high-risk, high-return strategy. By focusing on equity mutual funds, balancing with hybrid and debt funds, and continuing SIPs, you can potentially achieve your goal. However, monitor the portfolio periodically and adjust your strategy based on market conditions and risk tolerance.

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Moneywize

Moneywize   |178 Answers  |Ask -

Financial Planner - Answered on Feb 06, 2025

Asked by Anonymous - Feb 06, 2025Hindi
Money
I am 38, living with my parents who have savings of Rs 40 lakhs and monthly pension of Rs 15,000. I live in a house valued at 1.5 crore, a car and a corpus of 50 lakh. My annual salary is 15 lakh, my wife, 32, a teacher, earns 8 lakh per annum. Our daughter is 11 years and we have invested 30 lakh for her education. Will it be a good idea to retire at 48? Hopefully my daughter will be a graduate by then.
Ans: Retiring at 48 is an ambitious goal, especially given that your daughter will be in the later stages of her education at that time. However, it can be achievable with the right strategy, keeping in mind that both your current and future financial needs (such as your daughter's education, living expenses, and healthcare) should be carefully planned.
Key Financial Points:
1. Current Assets & Liabilities:
o Savings and investments: Rs 50 lakh corpus + Rs 40 lakh savings from your parents.
o House: Rs 1.5 crore (valuable asset, no immediate cash flow but provides stability).
o Car: An asset, though it depreciates.
o Monthly Pension: Rs 15,000 (provides additional cash flow).
2. Income:
o Your Salary: Rs 15 lakh per annum.
o Wife's Salary: Rs 8 lakh per annum.
o Total household income: Rs 23 lakh annually (pre-tax).
3. Daughter’s Education:
o You’ve already invested Rs 30 lakh for her education, which can cover part of her expenses, but you need to plan for the balance.
4. Retirement Goal:
o Retiring at 48 means you’ll need a substantial retirement corpus to cover your lifestyle expenses, especially since you plan to live without any active income.
o Estimate your monthly living expenses (post-retirement) considering inflation, healthcare, and contingencies.
Key Considerations for Retirement at 48:
1. Monthly Expenses Post-Retirement:
o Assuming your family needs Rs 60,000 per month (inflated from your current expenses) and an additional Rs 30,000 for health and emergency purposes, your annual expenses would be approximately Rs 10 lakh. This figure may rise over time due to inflation.
2. Corpus Needed:
o If you plan to live on Rs 10 lakh per year post-retirement, assuming a withdrawal rate of 4% (a standard guideline for sustainable withdrawals), you would need a retirement corpus of Rs 2.5 crore.
o If your daughter's education expenses require more funding, factor that in as well.
3. Current Assets & Future Growth:
o Savings Growth: Your Rs 50 lakh corpus can grow if invested well in equity mutual funds, stocks, or balanced funds (expected returns of around 10-12% p.a.).
o Parents’ Savings: The Rs 40 lakh savings from your parents can be used to generate returns in low-risk avenues like debt funds or fixed deposits, if they plan to support your retirement plans.
4. Planning for Future Education & Miscellaneous Expenses:
o Your daughter’s education will likely require more than Rs 30 lakh for her undergrad and possibly postgraduate education. Estimate the total requirement (say Rs 50-60 lakh for the complete course, including inflation) and plan for it.
5. Retirement Income Strategy:
o Pension or Annuity: Consider a monthly income plan or annuity products to ensure a steady stream of income during retirement. For example, a monthly annuity from your parents' corpus or part of your own corpus can provide financial stability.
6. Investment Strategy:
o Equity Mutual Funds: Start or increase SIPs in equity mutual funds (for long-term capital growth). Equity can provide high returns but also carries risk, so it’s ideal for long-term goals like retirement.
o Debt Funds: Consider shifting to debt or hybrid funds as you approach retirement to preserve capital.
o Real Estate: Your house is a valuable asset, and if you plan to sell or downsize in the future, it can be a key part of your retirement corpus.
Steps to Achieve Your Retirement Goal:
1. Increase Savings:
o Save a higher portion of your monthly salary towards retirement, even increasing your SIPs or contributions in the coming years. Aim to invest at least 30-40% of your combined income in SIPs or mutual funds.
2. Asset Allocation:
o Focus on equity funds for growth in the early years. As retirement nears, shift some of the corpus to safer instruments like debt funds or bonds.
3. Plan for Healthcare:
o Healthcare costs can significantly impact retirement. Ensure you have adequate health insurance for yourself and your family, considering long-term care as well.
4. Create a Contingency Fund:
o Have an emergency fund equivalent to 12-18 months of expenses to avoid dipping into retirement savings during emergencies.
5. Revisit Your Goal Periodically:
o Regularly check your progress and adjust your investments based on market performance, income changes, and any unexpected expenses (e.g., your daughter’s education needs).
Conclusion:
• Retiring at 48 is a feasible goal, but it will require diligent planning and a disciplined investment approach. Your savings and investments should aim to grow sufficiently over the next 10 years to generate a steady income stream, along with provisions for your daughter’s higher education.
• With careful asset allocation and savings growth, your goal of retiring by 48 and managing your family’s finances can be well within reach.

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Moneywize

Moneywize   |178 Answers  |Ask -

Financial Planner - Answered on Feb 06, 2025

Asked by Anonymous - Feb 06, 2025Hindi
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Money
I am 34 years old and have no savings or EMIs. I live with my parents and earn Rs 35,000 a month with an annual bonus of Rs 18,000. I want to retire at 50 and settle in my home town. What is the best way for me to plan and invest for my retirement?
Ans: To achieve your goal of retiring at 50 and settling in your hometown, the key is to start investing early and developing a disciplined savings strategy. Here's how you can plan:
1. Determine Your Retirement Corpus
• To retire at 50, you need to calculate how much you’ll need to live comfortably. Consider your current lifestyle and future expenses.
• You can aim for a corpus that supports 70-80% of your pre-retirement income annually. For example, if you plan to need Rs 50,000 per month (Rs 6 lakh annually) in retirement, you'll need a corpus of Rs 1.5 to Rs 2 crore, depending on the duration of your retirement.
2. Build an Emergency Fund
• Set aside an emergency fund of 3-6 months of living expenses. This provides financial security in case of unexpected situations. You can keep this fund in a high-interest savings account or liquid mutual funds.
3. Invest in Retirement-Specific Instruments
• Public Provident Fund (PPF): PPF is a great long-term investment for retirement due to its tax benefits and safety.
• National Pension Scheme (NPS): NPS is another good option that offers both equity and debt exposure. It's designed for retirement and provides tax benefits.
• Mutual Funds: Start a Systematic Investment Plan (SIP) in equity mutual funds (consider a mix of large-cap, mid-cap, and hybrid funds) for higher returns over the long term. Even though mutual funds come with some risk, they can offer substantial growth over time.
4. Invest in Stocks (for higher returns)
• If you're comfortable with higher risk, you can invest in individual stocks or equity mutual funds to generate wealth. Ensure to do thorough research before investing or consider opting for managed portfolios if you're new to investing.
5. Keep Your Expenses Low
• Since you live with your parents and don’t have major expenses, this is an opportunity to save a significant portion of your income. Consider saving and investing 30-50% of your monthly income in the beginning.
6. Automate Your Investments
• Set up automatic monthly transfers into your investment accounts (like SIPs in mutual funds) to ensure consistent investing.
7. Maximize Tax Benefits
• Contribute to tax-saving instruments like ELSS (Equity Linked Savings Schemes), PPF, and NPS to reduce your taxable income.
• For long-term capital gains, keep in mind the tax exemptions and favorable tax rates for certain investment vehicles like PPF and NPS.
8. Increase Investment with Income Growth
• As your salary increases over the years, make sure to increase your investment amount accordingly. If you receive additional bonuses or increments, allocate a portion of them to your retirement fund.
9. Diversify Your Portfolio
• Diversification can help manage risk. Apart from mutual funds, PPF, and NPS, you could consider investments in gold or real estate if suitable for your situation.
10. Track and Rebalance Your Portfolio
• Regularly review your portfolio and rebalance it based on your retirement goals and market conditions. It’s also important to monitor inflation rates and adjust your goals accordingly.
Example Plan (Rs 35,000/month income):
• Monthly Savings (30% of income): Rs 10,500
• Bonus (Annually): Rs 18,000, invest 50% of it (Rs 9,000)
• Total Monthly Investment: Rs 10,500 + Rs 750 (bonus contribution) = Rs 11,250
• Invest in equity mutual funds via SIP: Rs 8,000
• PPF: Rs 2,000
• NPS: Rs 1,250
Potential Returns:
Assuming a return of 12% per annum from equity investments, you could accumulate a substantial corpus over time. If you start early, even small, consistent investments can lead to significant wealth.
Key Takeaways:
• Start investing early to take advantage of compounding.
• Aim to save and invest a portion of your income regularly.
• Focus on building a retirement-specific portfolio with tax-saving benefits.
• Gradually increase your savings as your income grows.

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Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

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As per Budget 2025, for income upto ₹12 Laks has zero Income Tax liability. But the Tax slabs start from ₹0 to ₹4 Laks, which should have started from ₹12 Laks to ₹16 Laks, as income up to ₹12 Laks has zero Tax applicable. Also under Budget 2025, who is required to file Return compulsorily?
Ans: In the Union Budget 2025, the Indian government introduced changes to the income tax structure. The new tax regime now offers a basic exemption limit of Rs. 4,00,000. Individuals earning up to Rs. 12,00,000 annually are eligible for a rebate under Section 87A, which effectively brings their tax liability to zero.

Addressing Your Concern

You mentioned that the tax slabs should begin from Rs. 12,00,000, given the exemption up to Rs. 12,00,000.However, the tax slabs are designed to follow a progressive system. The initial slab of Rs. 0 to Rs. 4,00,000 ensures tax relief for lower-income groups.

Additionally, the Rs. 12,00,000 limit is specifically available as a rebate for income from salary and business/professional sources only. For individuals earning other income (such as rental income, capital gains, etc.), the tax will apply starting from Rs. 4,00,000. This is why the slab starts from Rs. 0 to Rs. 4,00,000.

Thus, the tax liability structure is based on the source of income, with the rebate applicable only for salary and business/professional income. The objective is to provide targeted relief to salaried individuals and small businesses while still taxing other types of income starting from Rs. 4,00,000.

Mandatory Income Tax Return Filing

As per Budget 2025, the requirement to file an Income Tax Return (ITR) remains unchanged. Individuals whose total income exceeds the basic exemption limit (Rs. 4,00,000) are required to file an ITR. Even if your income is below the taxable limit, filing an ITR can be advantageous for reasons like claiming refunds, applying for loans, or proving your income for future financial planning.

Final Insights

The revised tax slabs aim to provide relief to those with lower incomes while ensuring a fair contribution from all income groups. The structure encourages compliance and simplifies the tax process for salaried and small-business earners, while still ensuring taxes on other sources of income.

Best Regards,

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

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Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

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How partial withdrawal from NPS Tire 2 account for house building construction will be taxed? Is it true that Principle/invested amount also attract tax ?
Ans: NPS Tier 2 is a voluntary savings account linked to NPS. It allows flexible withdrawals. However, the taxation rules for withdrawals are different from NPS Tier 1.

Understanding Tax on NPS Tier 2 Withdrawals
1) Entire Withdrawal is Taxable
Withdrawals from NPS Tier 2 do not get any tax exemption.

The entire amount, including the principal and gains, is taxed as per your income slab.

2) No Special Tax Benefits for House Construction
There are no separate tax exemptions for withdrawing from NPS Tier 2 for house construction.

Unlike NPS Tier 1, which has some tax-free components, Tier 2 is treated like a regular investment.

3) Principle Amount is Also Taxed
The invested amount (principal) was not taxed earlier because there was no tax benefit on investment.

However, when withdrawn, it is added to your total income and taxed as per your slab.

4) Tax Deducted at Source (TDS) May Apply
If the withdrawal amount is large, TDS may be deducted.

The withdrawn amount is still subject to final tax calculation based on your total income.

Better Alternatives for Funding House Construction
If you need funds for house construction, consider other investment withdrawals that have tax benefits.

Withdrawing from a mutual fund with long-term capital gains benefit may be more tax-efficient.

Fixed deposits may be an option, but the interest earned is taxable.

Finally
NPS Tier 2 withdrawals are fully taxable.

The entire amount, including the principal, is added to your income.

There is no special tax exemption for withdrawing for house construction.

Explore other tax-efficient sources for funding home construction.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

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Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

Asked by Anonymous - Jan 30, 2025Hindi
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Money
Hello, Myself and wife are NRI s and maintaining a joint bank account, when we retire and get back home, how the tds refund going to affect? Is it shared or one person have to claim?
Ans: Your situation is common among NRIs returning to India. A proper tax strategy ensures smooth financial management.

Understanding TDS on NRI Accounts
Banks deduct TDS on interest earned in NRI accounts.
The rate depends on the type of account and applicable tax laws.
NRIs can claim a refund if the tax deducted is higher than their actual tax liability.
Knowing how tax works helps in efficient tax planning.

Who Should Claim the TDS Refund?
Refund claims depend on whose income is being taxed.
In joint accounts, only the primary holder is taxed.
The TDS refund must be claimed by the person whose PAN is linked to the account.
Only one person can claim the refund in most cases.

How to File the TDS Refund Claim?
The person claiming must file an income tax return.
The refund request should include details of TDS deducted.
Form 26AS helps track the deducted tax.
If both spouses have separate incomes, each must file returns individually.
A structured approach ensures smooth refund processing.

Repatriation and Account Conversion After Retirement
NRI accounts must be converted to resident accounts upon return.
Failing to convert can lead to tax complications.
Inform banks about residential status change to avoid excess TDS.
Timely conversion helps in better tax compliance.

Finally
When returning to India, ensure proper tax planning for TDS refunds. Only the primary account holder can claim the refund. Converting accounts to resident status is necessary to avoid tax issues.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

Asked by Anonymous - Feb 06, 2025Hindi
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Hi sir my take home salary is 78000 can I buy home for 60 lakhs and I'm having a personal loan due for 14k for 1 year Kindly suggest
Ans: You have a take-home salary of Rs. 78,000 per month. You are considering buying a home worth Rs. 60 lakh. You also have a personal loan of Rs. 14,000 per month due for one more year.

Let’s evaluate whether purchasing this home is financially feasible and optimal.

Assessing Affordability Based on Income
Typically, housing affordability is calculated based on your monthly salary and liabilities.

Lenders usually approve home loans with an EMI-to-income ratio of up to 40%-50%.

In your case, the monthly EMI for the home loan will likely be substantial.

This will affect your cash flow, leaving limited room for other expenses.

It's essential to have a comfortable margin for daily expenses, savings, and emergencies.

If you can manage all your expenses comfortably, home ownership is possible.

Home Loan EMI Calculation Considerations
A Rs. 60 lakh home loan at an interest rate of 8%-9% will have a significant EMI.

For a loan tenure of 20 years, the EMI could be between Rs. 48,000 to Rs. 55,000.

You also have a personal loan of Rs. 14,000.

Combining both EMIs, your total monthly liabilities could be around Rs. 62,000 to Rs. 70,000.

With a take-home salary of Rs. 78,000, this leaves only Rs. 8,000 to Rs. 16,000 for other expenses.

This is a tight budget, especially considering unforeseen costs like healthcare or repairs.

Impact of Personal Loan on Financial Health
A personal loan of Rs. 14,000 can strain your finances, particularly with a new home loan.

Having two EMIs (personal loan + home loan) may limit your ability to save and invest.

If your personal loan interest rate is high, it can be more burdensome than the home loan.

Clearing the personal loan before taking on a home loan would be advisable.

Evaluating the Home Purchase from a Debt Perspective
Borrowing money for a home is often considered a good investment.

However, with your current financial situation, a high loan burden can lead to stress.

The personal loan and the home loan would require careful budgeting.

If you are planning to take on the home loan while still servicing the personal loan, it may strain your finances.

It’s best to focus on paying off the personal loan before committing to a new home loan.

Importance of Saving for a Down Payment
Typically, it’s recommended to make a down payment of at least 20% of the property value.

In your case, this would be Rs. 12 lakh for the Rs. 60 lakh home.

Saving up for the down payment reduces the amount of the loan, lowering EMIs.

The higher the down payment, the lesser the loan burden and overall interest paid.

You can also explore options like using part of your savings or other investments for the down payment.

Exploring Alternative Housing Options
If purchasing a Rs. 60 lakh home is not feasible, you may consider smaller properties.

This will reduce the loan burden and make the monthly payments more manageable.

Additionally, look at properties that are closer to your budget or in different locations.

You may also consider renting for a while, saving for a larger down payment, and paying off the personal loan.

Reconsidering Financial Stability
Buying a house should align with long-term financial goals and not cause undue stress.

Having too many loans can limit your ability to invest for the future.

Your immediate financial stability is essential before taking on additional commitments.

It may be better to pay off the personal loan first and save for a larger down payment.

Final Insights
Purchasing a home with a Rs. 78,000 salary and multiple loans may not be advisable.

Prioritize clearing the personal loan before taking on a large housing loan.

A balanced approach is crucial to avoid financial stress and ensure long-term stability.

You may consider a smaller home or rent for a few years until your finances improve.

Always ensure you have a sufficient emergency fund and room for other expenses.

As your financial situation stabilizes, you can then comfortably purchase your dream home.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

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My brother wants to transfer 15 crores to my account in India from his NRI dubai account, if I receive the amount, should I be liable to pay tax for this amount?
Ans: In India, any money received from abroad is subject to scrutiny under the Income Tax Act.

However, gifts from relatives are tax-free in India.

A brother is considered a relative under the Income Tax Act, so gifts between siblings are exempt from tax.

What You Should Be Aware Of
1) Source of Funds
The money must come from a legal source.

Ensure that your brother can provide proof of the source of funds if required by the authorities.

2) Reporting the Transaction
Large transactions (above Rs. 10 lakh) need to be reported to Income Tax authorities.

If you receive Rs. 15 crores, it may be flagged for monitoring, and you may need to provide explanation and source details.

3) Repatriation Process
Ensure the money is sent through proper banking channels.

RTGS/NEFT/IMPS from an NRI account to your Indian account will ensure the money is tracked properly.

No Immediate Tax Liability for Gift from Brother
If your brother is gifting the amount to you, no tax is applicable as it is treated as a gift from a relative.

However, if the money is for business transactions or repayment of loans, it may attract tax or require documentation.

Final Insights
Receiving a gift of Rs. 15 crores from your brother is not taxable, as siblings are considered relatives.

Ensure the transaction is done via legal channels and keep all relevant documents.

Reporting large amounts to the Income Tax Department is a good practice.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

Asked by Anonymous - Feb 05, 2025Hindi
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Hello I joined private ltd. firm in October, 2024. The company has not provided me appointment letter and salary slip but credited my salary in my account. When I asked for appointment letter and salary slips the company just forwarded me mail on 20th January 2025 to handover the charge to other person without any notice to me which I did. Now they are not paying my December salary and January, 2025 full and final settlement. I was property manager in the company. Please suggest me what can be done in this case.
Ans: Your employer’s actions are unprofessional and unfair. You have legal options to claim your salary and final settlement.

Gather All Supporting Documents
Bank Statements: Show proof of salary credited for previous months.
Emails & Messages: Keep all communication with HR and management.
Work Records: Maintain any reports, client interactions, or tasks completed.
Company Policies: If you have access to any written policies, keep them.
These documents will strengthen your case.

Send a Formal Email Request
Draft a polite but firm email to HR and management.
Mention your pending salary and final settlement details.
Request a timeline for the payment.
Attach proof of salary credits and work done.
Give them a deadline of 7-10 days to respond.
Written communication creates a legal record of your request.

Send a Legal Notice Through a Lawyer
If the company does not respond, consult a labour lawyer.
A legal notice can push the company to clear dues.
Mention your job role, tenure, and pending salary.
Demand payment within a reasonable time.
A legal notice increases pressure on the employer.

File a Complaint with Labour Authorities
Private firms must follow labour laws regarding salary payments.
Visit the local Labour Commissioner’s office.
Submit a complaint with all supporting documents.
The department will issue notices and mediate with the company.
Labour authorities can legally intervene in salary disputes.

Consider Legal Action in Court
If all else fails, you can file a case in labour court.
Courts handle cases of unpaid salaries and wrongful termination.
A lawyer can guide you on the legal process and expected timeline.
Legal action is a strong step but ensures justice.

Finally
You have every right to claim your salary and final settlement. Follow a structured approach—start with written communication, then escalate legally if needed. Employers cannot deny rightful dues without consequences.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

Ramalingam

Ramalingam Kalirajan  |7871 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Feb 06, 2025

Asked by Anonymous - Feb 05, 2025Hindi
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Hi Sir, I have a housing loan of 56 lakhs. I pay monthly emi of 84,000 and interest rate is 9%. I have 7 yrs more to close the loan. Montly I can save upto 50k from my salary. Now, should I invest this 50k in mutual funds or should I partly repay my loan amount.Please advise,
Ans: You have a Rs. 56 lakh home loan. Your EMI is Rs. 84,000 per month. The interest rate is 9%. You have 7 years left to repay the loan.

You can save Rs. 50,000 per month. Should you invest it or prepay your loan?

Let’s analyse both options.

Benefits of Prepaying Your Home Loan
Home loan interest is a long-term financial burden.

Prepaying reduces the total interest paid over time.

Your EMI will remain the same, but the tenure will reduce.

This brings financial relief by closing the loan earlier.

Prepaying a 9% loan is like getting a guaranteed 9% return.

There is no market risk in loan repayment.

You get peace of mind by reducing your debt faster.

If the interest rate increases in the future, prepayment will help.

Less interest means better cash flow in later years.

Benefits of Investing in Mutual Funds
Mutual funds offer the potential for higher returns than the loan interest.

Long-term investments in equity can generate 12% to 15% returns.

Investing helps build wealth while repaying the loan.

SIPs allow disciplined investing even with a loan.

Market-linked returns can outgrow the cost of the loan.

Tax efficiency is better with long-term equity investments.

Liquidity is available in mutual funds if needed.

Your money works for you instead of sitting idle.

You get inflation-beating growth over time.

Which Approach is More Tax Efficient?
Home loan interest gives a tax deduction under Section 24(b).

If self-occupied, you get up to Rs. 2 lakh deduction per year.

If rented out, the entire interest is deductible.

Prepaying reduces tax benefits as the interest component lowers.

Equity mutual funds have tax-efficient long-term gains.

Debt mutual funds offer indexation benefits for long-term holding.

The tax angle favours a balanced approach between prepaying and investing.

Risk and Liquidity Considerations
Loan prepayment is risk-free, while mutual funds have market risks.

Mutual fund investments can fluctuate in value.

If markets fall, your investment may be lower than the loan interest saved.

Liquidity is an advantage with mutual funds.

Emergency needs can be handled better with investments.

Loan prepayment locks your money, reducing flexibility.

A Balanced Strategy for Better Financial Growth
Instead of choosing one option, a mix of both is better.

Allocate part of your Rs. 50,000 towards prepayment.

The remaining amount can be invested in mutual funds.

Prepaying some portion reduces interest while keeping investments growing.

This balances risk, liquidity, and tax efficiency.

As your income grows, you can increase prepayment or investments.

Finally
Prepaying fully may save interest but limits liquidity.

Investing fully may generate better returns but comes with market risk.

A mix of prepayment and investing offers financial security and growth.

The right proportion depends on your risk appetite and future plans.

A Certified Financial Planner can guide based on your specific situation.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

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

...Read more

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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