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Shalini

Shalini Singh  |64 Answers  |Ask -

Dating Coach - Answered on Apr 17, 2024

Shalini Singh is the founder of andwemet, an online matchmaking service for urban Indians living in India and overseas. After graduating from college as a kindergarten teacher, Singh worked at various firms specialising in marketing strategy, digital marketing and public relations before finding her niche as an entrepreneur. In 2008, she founded Galvanise PR, an independent communications and public relations. In 2019, she launched andwemet.
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Asked by Anonymous - Apr 17, 2024Hindi
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Relationship

Hi Shalini, I am 57 , teaching in a college. Separated from my wife and the father a 26year old boy , an art critic. I have bought him a flat and given him financial independence. There is no jois de vivre in my life. I feel like having a relationship. Am I wrong ? Is it possible ?

Ans: You're only as young as you feel, and age should never be a barrier to entering into a relationship. However, it's crucial to be honest about your current relationship status from the 1st interaction, especially if you're legally married.
Asked on - Apr 17, 2024 | Answered on Apr 17, 2024
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Thanks or the reply,Shalini. I am short and a bit aesthetically challenged. I wonder where I should look for someone. Are there sites online ?
Ans: Google is your best bet here

You may like to see similar questions and answers below

Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Apr 13, 2022

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Relationship
Hi Anu, my story is quite big. I am 43 and I love a man of my caste who is 52. He is not married and my father had showed me his profile in 2006 for marriage. Those days I was not interested in marriage and so I rejected him. I saw his profile in March 2019 in matrimony and sent him interest and he gave me a reply. I fell in love with his profile in 2020 and further gave him reply on his mobile. I went to see him in Pune in 2020 October. Since then we have only been chatting on WhatsApp. When I asked for commitment in Feb 2021, he said his sister is not keeping well. Then he lost his father in August 2021. Earlier in 2020 he used to call me and we used to talk for hours. It all stopped in 2021 February when his sister fell sick. Now I stopped messaging him but he still keeps sending me some or other forwards. He says he wants to marry me (He said this Jan last year when I asked him if he is interested in marriage) but this year has been tough. I am really fed up of the delay. I still love him very much. He is very intelligent and professionally qualified and has good hobbies -- he is a Himalayan trekker and has sent me pics of his trek. He also encourages me to do many things but I am bored of the delay. Should I trust him and wait for him?
Ans:

Dear VG,

It looks likely that when you sent him your interest request, your feelings were from 2006. But hey, everyone has grown older and wiser since then.

Also, to expect him to have the same level of interest that you have, isn’t wise as he has led a different life to yours.

What happens is when we start our lives together when we are younger, we merge on a lot of ideals and thoughts.

When the same marriage/companionship/relationship happens when we are older, having had separate experiences and a different life, we might not have much in common in terms of thoughts and way of being in life.

Given that, have an honest chat with him face to face, and express what you want out of this connection.

Give him time to process his own life, his needs, his wants, his priorities and then get back to you.

If he is clearly not into this, no point waiting for him and tugging at your heart strings.

So the only way that I feel is to have a mature face to face talk where both of you have space to be assertive and communicate boldly. It will help both of you to decide what’s best.

All the best!

..Read more

Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 23, 2022

Relationship
Hi Anu,Myself Praveen. I appreciate your writings on Rediff. First of all thanks for that.I would like to ask guidance or your thoughts on establishing a relationship with my lady friend. I met her 4 years back in my old office and we got in company soon and started talking and somewhat share most of the personal s***s too. I started having feelings for her. I mean I wish to have a marital relationship with her because I am very comfortable with her. But I was unable to make any move or feared of losing her company if I tell her my love.That time I never knew her age. Later I moved from that job to pursue some personal goals so I moved to some other place without the knowledge of my own family. The only person who knew about it was her. She stood with me and emotionally supported me and was knowing that it was my strong wish of having that dream/goal. We were in touch as nice friends. Her phone calls were happy moments for me because I was alone at my new place where I'd gone to pursue my dream. Someday she called me and during call she was upset. That day she shared some of her personal things and during the conversation I realised that she is 8 years older than me and she is at her mid 30s. Firstly, it was like a shock for me. I wondered why a beautiful girl like she not got into a marriage or any other serious relationship still that age. Okay, that doesn't matter me. However, knowing about most of the complexity in this partnership including support from both family or cliche society thoughts; I decided to have her as my life partner. But still I am not able to make a move like that. Somehow, I had to come back to my homeplace and sorry to say that I failed to pursue my goal which was bit depressing. Still I couldn't make a move to talk her about this. I am getting an odd feeling that she treats me as a brother or a nice friend only. I am confused when she calls me bro. Some days ago she told me that I am her good brother. Frankly I don't like her calling me bro. I still love her and I always see her as my life partner.The thing is I fear that I may lose her company if I express my love for her. Also I fear that she may emotionally get low if she really considering me as her brother. I don't want to give her any pain, but meanwhile I couldn't miss her in my life. Nowadays, we rarely talk on phone or meet because some of her professional engagements. That is not a problem for me. I respect her as well as her personal space. Only thing I want is to communicate her about my mind and having a relationship with her. I know she might also be concerned about our age gap as well as what society may say, but I don't care such rubbish. I strongly believe that I can be a great partner. Share your thoughts on making an approach without giving her any emotional pain or trauma.
Ans:

Dear PB,

Thank you for your kind words on my writings and columns. Highly appreciate it.

I cannot assure you of the fact of her not having any emotional reactions. Her reactions are not something that you can control.

The easiest way to resolve this confusion that you are going through is to simply express it. It’s similar to how children are.

Have you seen them say things without a filter and unfazed by how the other person will react?

Then along came the adults and asked them to keep quiet and then the child in us grew up to become a recluse and ignore our own feelings.

I agree there is an etiquette and social norms to be followed as adults but to not be able to express our feelings is nothing but conditioning from our childhood.

And what did it teach us? It taught us to avoid the rejection and ensuing disappointment.

That’s exactly what you are running away from; all the rejection that may happen and the disappointment from that.

But what use is that love if you can’t express it for fear of rejection. If you feel so strongly about it, approach it boldly and very gently.

Yes, it may shock her and it’s possible she has no feelings or sees you as a brother, but at least you know where the connection stands.

Now whether she is going to be hurt or not is a question of how emotionally mature she is.

So, before you start the conversation, do request her to hear you fully and not judge you for your honesty. This may ease her shock and help her respond rather than react to you.

On your part, keep your expectations to a low and smile through the situation. It helps lighten the load that you might be carrying.

All the best!

..Read more

Anu

Anu Krishna  |839 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Nov 30, 2022

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I am a 25-year-old woman who is still not settled in life. I loved my relative who is 10 years older than me. He also not settled in life. He doesn't have property, no good family (his brothers are not good). When he asks about marriage I used to delay because of my career. At one point of time, he lost interest because of this delay. He is a good person but when we are spending time I am not much comfortable and excited as I was in the initial days of love – be it chats or calls. Recently I chatted with a stranger in Facebook and felt happier chatting with him than with my boyfriend. Somewhere I feel like I want to cut this relationship but I can't imagine him with our girls. If I marry him I won't get good family (relatives). He is not looking as good as he did before. Will I suffer any sexual issues with him in the future? He is still waiting for me.
Ans:

Dear Unknown,

It seems like you have moved away in mind and heart.

It does happen in few relationships as there might have not been a strong emotion attached when the relationship began, or the emotion ceases to exist as you have moved on and changed.

Good or bad? Neither…it happens.

Be rightful and do not lead him on.

It is not his fault that you feel the way that you do. But you do owe it to him to tell him how you feel now, so that he is not living in a love bubble.

So, break it to him gently and wait for his response. It maybe anger, sadness, disappointment.

Be with him through the process. He may not want to speak with you for a while till he gets a chance to process it fully; accept that. He may blame you; accept that as well.

It is not your fault, but he will not have any other safe space to vent out his feelings. And once this stage has passed, discuss it very maturely together as to what the next steps can be.

Till then, it will be only you dealing with this in the relationship when it has to be the business of both.

And as far as sexual issues go, I don’t find any relevance of it as age gap never hurt anyone’s sex life.

And what do his relatives have to do in your relationship? It’s the two of you (if you choose to be together mutually) and anyone else is just an unnecessary add-on piling on to make more mischief. Draw boundaries and live happy.

Now, time to come out clean and then maturely process and decide the future course of action.

My best wishes to you!

..Read more

Kanchan

Kanchan Rai  |183 Answers  |Ask -

Relationships Expert, Mind Coach - Answered on Dec 26, 2023

Asked by Anonymous - Dec 18, 2023Hindi
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Relationship
I am currently in my late 30s and i am unmarried. Currently i am chatting with a person whom i found on a matrimonial site but he is an introvert so i am.But is is extremely introvert he is not opening up completely its going to be one month since we are chatting. He calls me everyday.But he talks very formally.Does he has interest in me we are going to meet for a second time in a few days.Pls help.Should i marry him?
Ans: It's positive that you've been in communication for a month and that he makes an effort to call you every day. However, it's important to recognize that everyone has their own communication style, and being introverted doesn't necessarily mean a lack of interest. Some people take time to open up, especially in the early stages of getting to know someone. Introverts often prefer to think before they speak and may be more reserved in expressing their thoughts and feelings. If he is consistently reaching out and maintaining contact, it could be a sign of interest, even if the communication seems formal. Meeting in person can provide valuable insights into his personality. People may be more comfortable and expressive in person than they are online or over the phone. Pay attention to his body language, facial expressions, and overall demeanor during your second meeting. Encourage open communication by asking open-ended questions that invite him to share more about himself. This can help create a more relaxed and natural conversation If you feel comfortable, you might express to him that you would like to get to know him better and that you appreciate open and honest communication. This can create an environment where both of you feel more comfortable sharing. Before making any decisions about marriage, it's crucial to have open and honest conversations about your values, goals, and expectations for the future. Take the time to understand each other's personalities and communication styles, and assess whether you share common values and interests.

Remember, the decision to marry someone is significant, and it's important to feel a genuine connection and mutual understanding. If you have any doubts or concerns, it's advisable to address them before making any commitments.

..Read more

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Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

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Hello Sir, please review & advise on my mutual fund portfolio. SIP of 5000 each in UTI Nifty 50 index fund, Parag Parikh flexicap, Quant flexi cap & 3000 each in ICICI Midcap 150 index fund & Kotak large 7 midcap fund. All Started since 4 months, current age 42 & can do SIP for 2-3 years & plan to keep the accumulated amount as it is for next 5 years. I have some exposure to equity shares as well. Thanks
Ans: It's great to see you investing in mutual funds to achieve your financial goals. Let's review your portfolio:
1. UTI Nifty 50 Index Fund: Investing in an index fund tracking the Nifty 50 is a solid choice for gaining exposure to India's top 50 companies. It provides diversification and follows a passive investment approach, which can be beneficial over the long term.
2. Parag Parikh Flexicap Fund: This fund follows a flexible investment approach, investing in a mix of large-cap, mid-cap, and small-cap stocks. It's known for its diversified portfolio and has the potential to deliver consistent returns over time.
3. Quant Flexi Cap Fund: Similar to Parag Parikh Flexicap Fund, this fund offers flexibility in asset allocation across market capitalizations. However, quantitative techniques are used for stock selection, which adds a unique flavor to your portfolio.
4. ICICI Midcap 150 Index Fund: Investing in a mid-cap index fund can provide exposure to mid-sized companies with growth potential. It offers diversification within the mid-cap segment and follows a passive investment strategy.
5. Kotak Large & Midcap Fund: This fund invests in a mix of large-cap and mid-cap stocks, offering diversification across market capitalizations. It aims to capitalize on opportunities in both segments of the market.
Your portfolio seems well-diversified across different market segments, including large-cap, mid-cap, and flexi-cap funds, along with exposure to index funds. However, since you plan to keep the accumulated amount for the next 5 years, consider your risk tolerance and investment horizon.

Active vs. Passive Management:
While you've included both actively managed mutual funds and index funds (ETFs) in your portfolio, it's important to understand the differences between the two. Actively managed funds aim to outperform the market through active stock selection and portfolio management, while index funds passively track a specific index's performance.
Benefits of Actively Managed Funds:
Actively managed funds offer the potential for higher returns compared to index funds, especially during market inefficiencies or when skilled fund managers can identify lucrative investment opportunities. Additionally, active management allows for flexibility in portfolio construction and adjustments based on market conditions.
Potential Disadvantages of Index Funds:
While index funds offer low expense ratios and broad market exposure, they may lack the potential for outperformance compared to actively managed funds. Additionally, they're subject to tracking error, which occurs when the fund's performance deviates from the index it's designed to replicate.

Given your age of 42 and the relatively short investment horizon of 2-3 years for SIP, ensure you regularly review your portfolio's performance and make adjustments if necessary. Also, keep an eye on any changes in your financial situation or risk appetite.
Overall, your portfolio appears to be aligned with your investment goals and risk tolerance. Keep up with your disciplined SIP investments, and consider consulting with a Certified Financial Planner periodically to ensure your investment strategy remains on track.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 17, 2024Hindi
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Hi sir,I am 40 years old, my goal is retirement with 5 cr. I am investing 25k through SIP in the following Funds. 5k- parag parikha flexi cap 5k-motilal oswal mid cap 5K-Quant large and mid cap 5k-Nippon Small cap 5k-Quant small cap, All Direct Funds. Investment Horizon - 20 to 22 Years. Goal -please check my portfolio,Wealth Creation, Risk Appetite- High. Please advise if I should pause or continue with these mutual funds.
Ans: It's fantastic that you're planning ahead for your retirement, and your investment strategy reflects your goal of wealth creation with a high-risk appetite. Let's review your portfolio:
1. Parag Parikh Flexi Cap Fund: This fund follows a flexible investment approach, investing in a mix of large-cap, mid-cap, and small-cap stocks. It's known for its diversified portfolio and has a track record of delivering consistent returns over the long term.
2. Motilal Oswal Mid Cap Fund: Mid-cap stocks have the potential for higher growth but also come with higher volatility. This fund focuses on mid-cap companies with strong growth prospects, suitable for investors with a higher risk tolerance.
3. Quant Large and Mid Cap Fund: This fund combines large-cap and mid-cap stocks, aiming to provide capital appreciation over the long term. Quantitative techniques are used for stock selection, which can add a unique flavor to your portfolio.
4. Nippon Small Cap Fund: Small-cap stocks have the potential for significant growth but are more volatile. This fund focuses on small-cap companies with growth potential, aligning with your high-risk appetite.
5. Quant Small Cap Fund: Similar to the previous fund, this one specifically targets small-cap stocks using quantitative methods for stock selection.
Considering your investment horizon of 20 to 22 years, your portfolio seems well-diversified across different market segments, aligning with your high-risk appetite and wealth creation goal. However, it's essential to regularly review your portfolio's performance and make adjustments if necessary.
I recommend consulting with a Certified Financial Planner periodically to ensure your investment strategy remains on track with your retirement goal and risk tolerance.

Shifting from direct to regular mutual funds can offer several advantages, especially for investors seeking personalized support and guidance:
Regular mutual funds provide access to the expertise of a Mutual Fund Distributor (MFD) who is often a Certified Financial Planner (CFP). They can offer valuable insights, emotional handholding, and personalized guidance tailored to your financial goals and risk tolerance.
MFDs can assist with asset rebalancing, helping you maintain an optimal allocation of assets based on market conditions and changes in your financial situation. This ensures your portfolio remains aligned with your investment objectives over time.
Scheme selection can be overwhelming with numerous options available in the market. An MFD with CFP credentials can help navigate this complexity by recommending suitable funds that align with your risk profile, investment horizon, and financial goals.
By opting for regular mutual funds through an MFD, you not only gain access to professional advice but also benefit from ongoing support and assistance throughout your investment journey. This can instill confidence and peace of mind, knowing that you have a trusted advisor by your side.
Consider making the switch to regular mutual funds to leverage the expertise and guidance of a Certified Financial Planner through a Mutual Fund Distributor. It can enhance your investment experience and increase the likelihood of achieving your retirement goal of 5 crores.

Keep up the good work with your disciplined SIP investments, and stay focused on your long-term financial objectives.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 08, 2024Hindi
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I am going to retire on 01.11.2024 and i will be receiving 25 lacs as my retirement fund. Please suggest where should i invest and how monthly amount i will received.
Ans: Congratulations on your upcoming retirement! It's an exciting milestone, and careful planning can make it even more fulfilling.

With a retirement fund of 25 lakhs, you have a good starting point for your post-retirement financial journey.

To ensure a steady income stream, consider investing a portion of your retirement corpus in a mix of conservative investment options such as fixed deposits, senior citizen savings scheme, and debt mutual funds.

These options offer relatively stable returns with lower risk, ideal for generating regular income during retirement.

Allocate another portion towards equity mutual funds, which have the potential for higher returns over the long term. While they carry more risk, they can help your retirement corpus grow to combat inflation and sustain your lifestyle.

Consulting with a Certified Financial Planner can help tailor an investment strategy that aligns with your risk tolerance, financial goals, and retirement timeline.

As for calculating your monthly income, it depends on various factors such as the returns generated by your investments, withdrawal strategy, and inflation rate.

A common approach is the systematic withdrawal plan (SWP), where you withdraw a fixed amount regularly from your investments. The SWP amount can be adjusted annually based on your financial needs and investment performance.

Ensure your investment strategy provides enough liquidity to cover your monthly expenses while also preserving your capital for the future.

Retirement is a new chapter in your life, filled with opportunities to pursue your passions and dreams. With careful planning and smart investment decisions, you can enjoy a financially secure and fulfilling retirement journey.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 09, 2024Hindi
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I draw a salary net salary of 230000 pm and have a housing loan for 11740000 @6% simple interest. The principal amount will be paid in 270 instalments and then the interest in 90 instalments as it’s a bank staff loan. EMI is 43000. Total tenure of loan is 30 years. I want to know should I try and close the loan earlier by investing around 4 lakhs every year or let it go as it is and invest the same amount in mutual funds. Kindly suggest.
Ans: Considering your situation, it's great that you're contemplating your financial future. With your stable income, you have the potential to make wise choices.

Your housing loan's interest rate is relatively low, which is beneficial. By maintaining regular EMIs, you're already on track to clear the loan within the stipulated tenure.

Investing in mutual funds is a solid strategy, offering potential returns higher than your loan's interest rate. It allows your money to grow over time.

However, investing additional funds to close your loan faster can bring peace of mind. It reduces your debt burden and saves on interest payments in the long run.

Before deciding, consider your risk tolerance and financial goals. Ensure you have an emergency fund and are contributing to retirement savings.

As a Certified Financial Planner, I recommend diversifying your investments. Explore different asset classes to mitigate risk and maximize returns.

Regular mutual funds through a certified financial planner can offer personalized guidance, potentially outperforming direct funds in the long term.

Remember, financial planning is about finding the right balance between debt management and wealth accumulation.

Take your time to weigh the options and choose what aligns best with your aspirations and comfort level.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

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I want to take Quant mutual fund. Which one should I go with? Quant mid cap Quant small cap Quant infrastructure Quant psu fund I am 23 and I have good risk appetite.
Ans: Given your age and risk appetite, investing in mid-cap and small-cap funds can offer growth potential over the long term. However, it's essential to consider factors such as fund performance, investment strategy, and risk management before making a decision.
Quant Mutual Fund offers several options across different categories. Here's a brief overview of each option you mentioned:
1. Quant Mid Cap Fund: This fund primarily invests in mid-cap stocks, which have the potential for high growth but also come with increased risk. Mid-cap funds are suitable for investors with a higher risk appetite and a long-term investment horizon.
2. Quant Small Cap Fund: Small-cap funds invest in stocks of small-sized companies, which have the potential for significant growth but are also more volatile and risky. Investors with a higher risk tolerance and a longer investment horizon may consider investing in small-cap funds.
3. Quant Infrastructure Fund: This fund focuses on investing in companies operating in the infrastructure sector, such as construction, energy, and utilities. Infrastructure funds can provide exposure to a specific sector but may be more volatile and cyclical.
4. Quant PSU Fund: PSU (Public Sector Undertaking) funds invest in stocks of government-owned companies, which are known for stability and steady dividends. These funds may offer a defensive investment option for investors seeking lower risk exposure.
Before investing in any Quant Mutual Fund, it's crucial to review the fund's track record, investment objective, portfolio composition, and expense ratio. Additionally, consider consulting with a Certified Financial Planner to ensure the fund aligns with your overall investment strategy and financial goals.
Remember, while mid-cap and small-cap funds offer growth potential, they also come with higher risk. Ensure you have a diversified portfolio and a long-term investment horizon to ride out market fluctuations.
Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

...Read more

Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 08, 2024Hindi
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Equity Investment Using Loan ? ( 15 Lakhs ) Hi , I am contemplating to acquire a personal loan of 15 Lakhs at 10.45% interest. And invest lumpsum it in High Volatility Equity Mutual Funds giving a Return of about 25-30% on average Example: Quant Mutual Funds ( Midcap, Smallcap, Flexicap ) , Nippon India ( Midcap, smallcap) and Momentum Type Mutual Funds. Please suggest if I should go for it. Also I'm open to hear some better ways to go about investing aggressively using Loan. And also making the most out of my loan eligibility for acquiring gains.
Ans: Taking a personal loan to invest in high volatility equity mutual funds can be risky and may not be suitable for everyone. Here are some factors to consider before proceeding with this strategy:
1. Risk: Investing in high volatility equity funds involves a significant level of risk, especially when using borrowed funds. While these funds have the potential for high returns, they also carry the risk of significant losses, especially in volatile market conditions.
2. Interest Cost: The interest rate on personal loans can be relatively high compared to other forms of borrowing. At 10.45%, the interest cost can eat into your investment returns, potentially reducing your overall gains.
3. Market Uncertainty: The stock market can be unpredictable, and there are no guarantees of returns, especially in the short term. Investing borrowed money in equity funds exposes you to market fluctuations and the possibility of losses, which can impact your ability to repay the loan.
4. Loan Repayment: You'll be required to repay the personal loan, along with interest, regardless of the performance of your investments. If your investments underperform or incur losses, you may struggle to meet the loan repayment obligations, leading to financial strain.
Considering these factors, it's crucial to evaluate your risk tolerance, investment horizon, and financial situation before using a personal loan for aggressive equity investment. Additionally, seeking advice from a Certified Financial Planner can help you assess the suitability of this strategy and explore alternative investment options that align with your goals and risk profile.
If you're looking to invest aggressively, consider options like Systematic Investment Plans (SIPs) in equity mutual funds using your existing savings or surplus income. SIPs allow you to invest regularly over time, reducing the impact of market volatility and minimizing the need for borrowing.
Remember, prudent investing involves balancing risk and reward, and it's essential to make informed decisions based on your financial circumstances and long-term goals.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 07, 2024Hindi
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Sir I have paid a lump sum advance of Rs 75000 for CGHS LIFETIME CARD, I am a pensioner, can I take income tax deduction for this, if yes, in which financial year the deduction has to be taken? Can I claim deduction of the entire amount for the same financial year?
Ans: As a pensioner, you may be eligible to claim a deduction for the lump sum advance paid towards the Central Government Health Scheme (CGHS) Lifetime Card under Section 80D of the Income Tax Act. Here's what you need to know:
1. Deduction Eligibility: You can claim a deduction for the premium paid towards health insurance, including the CGHS Lifetime Card, for yourself and your family members. The maximum deduction allowed under Section 80D is up to Rs. 25,000 per annum for individuals below 60 years of age and up to Rs. 50,000 for senior citizens (aged 60 years and above).
2. Financial Year: The deduction can be claimed in the financial year in which the payment for the CGHS Lifetime Card was made. If you paid the lump sum advance of Rs. 75,000 in the current financial year, you can claim the deduction in the same financial year when filing your income tax return.
3. Claiming Deduction: You can claim the entire amount of Rs. 75,000 as a deduction under Section 80D, subject to the maximum limit applicable based on your age. If you have other health insurance premiums or medical expenditures eligible for deduction under Section 80D, ensure that the total deduction claimed does not exceed the maximum limit allowed.
It's important to retain the receipt or any documentation related to the payment made for the CGHS Lifetime Card as proof while filing your tax return.
Consult with a tax advisor or Certified Financial Planner to ensure compliance with tax regulations and maximize your deductions based on your specific financial situation.

Best Regards, K. Ramalingam, MBA, CFP, Chief Financial Planner, www.holisticinvestment.in

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Ramalingam

Ramalingam Kalirajan  |1782 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

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Sir, NRI having only LTCG (taxable) and interest income which is less than one lakh. I want to file ITR at the earliest and is ready with details but a part of the interest income is yet to appear in AIS. I presume that the data will get populated by the middle of June. But as I have all the figures, can I proceed with ITR filing NOW or will it be considered contradictary with AIS?
Ans: You can definitely file your ITR now, even though a part of the interest income isn't reflected in the AIS (Annual Information Statement) yet. Here's why:

NRIs with LTCG and low interest income: As an NRI with only LTCG (taxable) and interest income below one lakh, you qualify to file ITR-1 (Sahaj).

Discrepancy with AIS: A minor difference between your reported income and the AIS data might not be a major issue. The income tax department usually sends notices for significant discrepancies.

Here's what you can do:

File with the information you have: Go ahead and file your ITR using the interest income details you possess.

Mention the discrepancy: While filing, you can explain the missing interest income in the ITR form itself. Briefly state that you expect it to be reflected in the AIS by mid-June.

Revise if needed: If the missing interest income gets populated in the AIS later, you can revise your ITR accordingly. There's a window for revising ITRs after the initial filing.

Here are some additional points to consider:

It's always best to report accurate income. Including the estimated interest income demonstrates your transparency.

If you're uncomfortable filing now, you can wait until the AIS data is updated by mid-June. However, there's no penalty for filing early.

Ultimately, the decision is yours. Filing now with an explanation or waiting for the AIS update are both viable options.

It's recommended to consult a Chartered Accountant (CA) specializing in NRI taxation for personalized guidance.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

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