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Nikunj Saraf |308 Answers |Ask -Follow

Mutual Funds Expert - Answered on Dec 15, 2022

Nikunj Saraf has more than five years of experience in financial markets and offers advice about mutual funds. He is vice president at Choice Wealth, a financial institution that offers broking, insurance, loans and government advisory services. Saraf, who is a member of the Institute Of Chartered Accountants of India, has a strong base in financial markets and wealth management.... more

Question by Yogesh on Dec 15, 2022Hindi

Money

My age is 42 year & my wife age is 34 year. We want to start the SIP in Mutual Funds, but quite confused actually which fund needs to be picked which will be best suited for us to our requirement. I want to create corpus of 1.5 cr for retirement, 2 cr for Child's education and marriage from my investment for 15 - 17 years & same amount of return for my wife for the investment of 25 years. Require your valuable guidance on exactly which fund and how much in each fund i need to invest so that the above objective can be fulfilled. Thanks in advance for your values advice.

Ans: Hi Yogesh. I understand that you have multiple goals. In order to achieve your retirement goal of 1.5 crore in 18 years, you can start sip 15k per month. With the goal of your child's education and marriage being reached in 15 years with 14% CAGR you can begin the sip of 32K per month.

In addition, you can include large, mid, and flexi caps as part of your portfolio creation.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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Question by Yogesh - Dec 07, 2022Hindi

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My age is 42 year & my wife age is 34 year. We want to start the SIP in Mutual Funds, but quite confused actually which fund needs to be picked, which will be best suited for us to our requirement. I want to create corpus of 1.5 cr for retirement, 2 cr for Child's education and marriage from my investment for 15 - 17 years & same amount of return for my wife for the investment of 25 years. Require your valuable guidance on exactly which fund and how much in each fund i need to invest so that the above objective can be fulfilled.

Goal 1: Retirement Rs1.5 cr in 18 years

Goal 2: Education and Marriage Rs 2 cr in 16 years

Goal 3: Retirement Rs 2 cr in 25 years.

Monthly Investment required

Goal 1: Rs 15000

Goal 2: Rs 27,500

Goal 3: Rs 7500

Total monthly investment of Rs 50000

Schemes that can be chosen can be as under ( 2 schemes to each goal)

HDFC Index Fund – Sensex Plan – Growth

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Mutual Funds Expert - Answered on Feb 04, 2023

Asked by Anonymous - Feb 03, 2023Hindi

could you please suggest good mutual funds for SIP, I am 41 years old and my wife is 34 and we have 2 kids aged 5&10 respectively. i want to create corpus of 1.5 cr for retirement, 2 cr for child education require your valuable guiandance on exactly which fund and how much in each fund i need to invest so that the objective can be fulfilled.

Ans: Hello investor! Its great you have a solid intent to build your retirement corpus and money for child education, to help you effectively. I would be needing further quantitative details like the age of retirement and investment horizon for children's education. for longer horizon goals mid-cap funds are always been preferred in the portfolio

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Question by kashyap - Feb 04, 2023Hindi

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thankyou sir for your kind reply to the below question could you please suggest good mutual funds for SIP, I am 41 years old and my wife is 34 and we have 2 kids aged 5&10 respectively. i want to create corpus of 1.5 cr for retirement, 2 cr for child education require your valuable guidance on exactly which fund and how much in each fund i need to invest so that the objective can be fulfilled. in extension to your question retirement age 55 children's education investment horizon for a period of 12 years please suggest the name of the mid-cap funds and the amount to invest in it. it will be very helpful sir.

Ans: Hi Kashyap AM glad you liked my answer. Thank You.
well for 12 years a good mid cap fund can be chosen from Axis Midcap Fund and Nippon India Growth Fund. While you can make it all midcap fund investment for 12 years my suggestion allocate a good amount to parag parikh flexi cap fund too. So for 12 years if you want to reach to 2 cr the assuming returns of around 12 % per annum you need to invest Rs 65000 per month of which 40000 can go in mid cap and 25000 in flexi cap.

now for your retirement corpus of 1.5 cr after 14 years you can easily choose only one large cap fund which is Mirae asset Large cap fund and One small cap fund like axis small cap fund or canara robeco small cap fund

You need to save Rs 37000 at assumed rate of 12% for 14 years o reach to your retirement goal. Amts can be RS 17000 in small cap and Rs 20000 in large cap fund.

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Question by Vivek - Mar 07, 2024Hindi

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Need to start SIP of 20,000 purpose is child Education & Retirement fund [ Time Span 5 -7 year ]. Kindly Suggest IN which SIP I should invest in which Mutual fund. Also Have capital of 40 Lacs ,which mutual fund, I should Invest to get Monthly income & How much I will get with this investment

Ans: I cannot suggest you any particular product, as i dont know your risk profile or your networth or cashflows.

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Sir i am housewife. I have no earning. Got 4 lakh long term capital gain from mutual fund. Shall i pay tax and file incometax

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I have only income from interest from saving bank a/c and from LTCG by selling of equity mutual funds, as a housewife. Can I get the zero tax advantage by totaling the above 2 sources amounting upto Rs 7 lacs pa under new Tax regime or Rs 5 Lacs pa in FY 2023-24 . Need your clarification urgently. If possible kindly explain with example.....Thanks

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Assessee Company filed IT Return on due date for the AY 23-24(FY 22-23). It claimed all the Tax credit as per 26AS. However one of the client deposited tax very lately in Jan 24 for the FY 22-23 and the 26AS was updated and now the TDS as per 26AS is more than the TDS claimed in Return. The possibility of belated returns ended on 31.12.23. Newly introduced Form 71 is for claiming a credit of tax which was deducted in the subsequent financial year but the income thereof was offered in the preceding financial year. Rectification opportunity u/s 154 may not be available as it is not an mistakes apparent on record. What is the option available to Assessee Company to claim the TDS as refund. Thanks in Advance.

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Hello Mihir, Hope this mail finds you welI ! I purchased a flat jointly with my father in 2008 for 14 lacs. I am the first owner. My father passed away in 2014. Now I want to sell this flat for approx. 40 lacs. I have below queries : 1) I have 1 brother & my mother, will I have to do some legal documentation to transfer their rights to my name ? What is this process & how much time & money it takes ? 2) Will it be advisable to sell the flat by transferring full share in my mother’s name ( Sr. Citizen) to save tax ? 3) How much will be tax in my mother’s case and also if I sell the flat in my name ? 4) How can we save the taxes ? Thank you in advance

Ans: In case of death, legal hair becomes owner of property, unless they surrender their rights in the said property. Please contact consultant for more information.

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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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