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Nikunj Saraf |308 Answers |Ask -Follow

Mutual Funds Expert - Answered on Feb 04, 2023

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 R on Feb 01, 2023Hindi

I am a retired person having monthly pension of Rs. 85000/- No other savings now under 80C and no home loan. Should I opt now the new scheme ?

Ans: Hello R
As a financial advisor, I would advise you to consult a chartered accountant for specific tax planning advice. They have expertise and in-depth knowledge of tax laws and regulations and can provide you with personalized strategies to minimize your tax liability. I can assist you in creating a comprehensive financial plan, but for tax planning, it is best to consult a tax professional.

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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Nikunj Saraf |308 Answers |Ask -Follow

Mutual Funds Expert - Answered on Feb 04, 2023

Question by Shankaranarayanan - Feb 04, 2023Hindi

Sir My CTC is 22 lakhs My savings are PPF 1.5 Lakh per year VPF and PF 6.8 Lakh per annum NPS Rs 50000 per annum Mediclaim self 50000 per annum which scheme is beneficial old or new regime

Ans: Hello Shankaranarayanan

Thanks for asking the question

I m glad that you are dedicated towards your savings, to assist you with your tax planning. Please consult your CA or a guru with a direct tax expertise

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Mihir Tanna |801 Answers |Ask -Follow

Tax Expert - Answered on Feb 23, 2023

Question by Shankaranarayanan - Feb 04, 2023Hindi

Money

Sir My CTC is 22 lakhs My savings are PPF 1.5 Lakh per year VPF and PF 6.8 Lakh per annum NPS Rs 50000 per annum Mediclaim self 50000 per annum which scheme is beneficial old or new regime i have still two years service left

Ans: As you are taking benefits of Rs.2 lakhs (1.5 lakhs for PPF, 50K for NPS, 50K for mediclaim), new tax regime is likely to be beneficial as per budget proposed for FY 2023-24

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Mihir Tanna |801 Answers |Ask -Follow

Tax Expert - Answered on Feb 23, 2023

Question by SUBRAHMANYAM - Feb 08, 2023Hindi

Money

Hi, my annual income of 9 lakhs which regime is better to opt. I am also paying housing loan of 1.8 lacs per year. Please let me know

Ans: Person having taxable income of 9 lakhs and housing loan repayment of 1.8 lacs, can opt for new tax regime as new slab rate is likely to be beneficial as per budget proposed for FY 2023-24

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Vivek Lala |220 Answers |Ask -Follow

Tax, MF Expert - Answered on Aug 25, 2023

Question by CHAITANYA - Jul 05, 2023Hindi

Money

I am 33 years old. I am working in co-op Bank since last 12 years. Should I Opt for new pension scheme or not?

Ans: Hello, that depends on your CTC and the deductions that you have

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Mihir Tanna |801 Answers |Ask -Follow

Tax Expert - Answered on Sep 16, 2023

Asked by Anonymous - Sep 16, 2023Hindi

Money

Hi Mihir, My salary is 35 lacs annually and I have no home loan interest to claim for tax exemption. Should I opt for old regime or new regime will be better for me?

Ans: Old tax regime is beneficial to assessee if substantial amount of deduction/exemption is claimed. From information provided, i understand that new tax regime is likely to be beneficial for you.

For exact calculation, you can refer to income tax calculator available at https://incometaxindia.gov.in/Pages/tools/income-tax-calculator-234ABC.aspx

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Kanchan Rai |168 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Apr 24, 2024

Asked by Anonymous - Apr 23, 2024Hindi

Relationship

My son is 13, diagnosed with anxiety spectrum at age 8.His medications have reduced , takes fluvoximine 50 at night, but has social media addiction,what should i do?

Ans: Managing a child's social media addiction, especially when they have underlying mental health concerns like anxiety, can be challenging but crucial for their well-being. Start by having an open and non-judgmental conversation with your son about his social media use. Express your concerns about how excessive screen time can impact his mental health and overall well-being.Establish clear rules and boundaries around screen time and social media use. This could include limiting the amount of time he spends on social media each day or setting specific times when he's allowed to use it.
Lead by Example: Model healthy screen time habits yourself. Show your son that you prioritize face-to-face interactions, hobbies, and other activities over excessive screen time.Encourage your son to engage in offline activities that he enjoys and that promote social interaction, physical activity, and creativity. This could include sports, hobbies, art, or spending time with friends and family.Keep an eye on your son's social media use and monitor the content he's consuming. Consider using parental control apps or settings to limit access to certain apps or websites.If your son's social media addiction is significantly impacting his mental health or daily functioning, consider seeking support from a therapist or counselor who specializes in treating addiction and/or anxiety. They can provide individualized strategies and support for managing his social media use in a healthy way.
Encourage Healthy Coping Strategies: Help your son develop healthy coping strategies for managing his anxiety, such as mindfulness, deep breathing exercises, or engaging in calming activities when he feels overwhelmed.
By taking proactive steps to address your son's social media addiction and providing support for his anxiety, you can help him develop healthier habits and improve his overall well-being. Remember to approach the situation with empathy, patience, and understanding, and seek professional support if needed.

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Kanchan Rai |168 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Apr 24, 2024

Question by T - Apr 18, 2024Hindi

Relationship

Hi ! I am a 38 year old divorced woman. Its almost 10 years that I got divorced, from a man with whom I was married for 2 months. Since then, I never had a long relationship with anyone. For the past 1 month, I feel I have developed feelings for my cousin (sister) who is 10 years older to me. She too is divorced, long back. (2006). I understand she too has feelings for me. What should I do. Please suggest.

Ans: Navigating feelings for a family member can be complex, especially when considering societal norms and potential family dynamics. It's understandable to feel uncertain about how to proceed in such a situation.

First and foremost, it's important to consider the potential implications and consequences of pursuing a romantic relationship with your cousin. While relationships between cousins are not legally prohibited in many places, they can sometimes face social stigma or disapproval from family members.

Before taking any further steps, it's crucial to have open and honest communication with your cousin about your feelings and concerns. Discussing your mutual feelings in a respectful and sensitive manner can help both of you understand each other's perspectives and make informed decisions about how to move forward.

Additionally, it may be beneficial to seek guidance from a therapist or counselor who can provide support and help you navigate your feelings and the potential impact on your family dynamic. They can also offer strategies for communicating effectively and managing any challenges that may arise.

Ultimately, the decision of whether to pursue a romantic relationship with your cousin is a deeply personal one that only you and your cousin can make. It's essential to prioritize open communication, mutual respect, and consideration for the feelings and well-being of everyone involved.

Regardless of the outcome, remember that you deserve to pursue happiness and fulfillment in your relationships, and seeking support from trusted friends, family members, or professionals can help you navigate this situation with clarity and confidence.

(more)

Kanchan Rai |168 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Apr 24, 2024

Asked by Anonymous - Apr 16, 2024Hindi

Relationship

I got married three months ago, during courtship period my ex was in my office but then my marriage wasn't fixed properly ,when it got yeses from both the side I changed my office,but I couldn't tell this to my husband and also I lied about my virginity,he was also not virgin and after marriage I confessed all this ,now he is not forgiving me for my dishonesty and not letting me come home also he abuse me verbally ,slapped me..I also feel like cheated for not letting me know this side of him before marriage..How should I go ahead?

Ans: I'm truly sorry to hear about the difficulties you're facing in your new marriage. It's concerning to hear that you're experiencing verbal abuse and physical violence from your husband. No one deserves to be treated this way, and it's important to prioritize your safety and well-being.

First and foremost, if you are in immediate danger or feel unsafe, please reach out to local authorities or a trusted friend or family member for support. Your safety is paramount.

In terms of next steps, it's essential to seek support and assistance from professionals who can help you navigate this situation. Consider reaching out to a therapist or counselor who specializes in relationships and domestic violence. They can provide you with guidance, support, and resources to help you make informed decisions about your next steps.

Additionally, you may want to consider reaching out to organizations or hotlines that specialize in supporting individuals experiencing domestic violence. They can offer confidential support, safety planning, and resources to help you leave the abusive situation and rebuild your life.

It's also crucial to recognize that you are not responsible for your husband's abusive behavior, and you deserve to be treated with dignity and respect in your marriage. If your husband is unwilling to seek help or change his behavior, it may be necessary to consider your options for leaving the relationship to ensure your safety and well-being.

Leaving an abusive relationship can be challenging, but you don't have to face it alone. There are people and resources available to support you every step of the way. Please prioritize your safety and take steps to protect yourself from further harm. You deserve to live a life free from abuse and violence.

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Kanchan Rai |168 Answers |Ask -Follow

Relationships Expert, Mind Coach - Answered on Apr 24, 2024

Asked by Anonymous - Apr 13, 2024Hindi

Relationship

I am single mother of 12 year old boy and got divorced last year after 7 years of living seperate from my ex husband, I got married in 2010 through matrimonial site and had very toxic and abusive relationship, so I came to my maternal home in 2016 completely. There were many occasions when he approached me and promised to behave properly but failed to do so . He only filed for divorce by making false accusations of being characterless. I gave him divorce and in return I got very less alimony or the amount which was given in cash to them in my marriage. Now I came to know that he remarried and living his life . He is still in contact with my son and sometimes he blame me and my parents for this divorce. My first question is that is he trying to manipulate my son ( he is not bearing any education expenses of my son) And when I ask my son if I can also move on in my life, he refuses and says I don't want to share you with anyone. So I am very confused.

Ans: I'm sorry to hear about the challenges you've been facing. It sounds like you've been through a lot and are trying to navigate a difficult situation for both yourself and your son.

Regarding your ex-husband's behavior, it's possible that he may be trying to manipulate your son, especially if he is blaming you and your parents for the divorce. Children can be susceptible to manipulation, especially when they're caught in the middle of a divorce. It's important to maintain open communication with your son and reassure him that the divorce was not his fault and that both you and your ex-husband still love him.

As for your son's reluctance to see you move on, it's not uncommon for children of divorce to struggle with the idea of one or both parents moving on and forming new relationships. Your son may fear losing the close relationship he has with you or worry about how a new relationship might change his life. It's essential to validate his feelings and reassure him that your love for him will not change, regardless of any new relationships you may have.

It might also be helpful to involve a therapist or counselor who can work with both you and your son to navigate these emotions and provide support during this challenging time. Additionally, continuing to foster a strong, positive relationship with your son and maintaining open communication will be crucial as you both move forward.

Ultimately, while it's important to consider your son's feelings, it's also essential for you to take care of yourself and pursue your own happiness. Balancing your needs with those of your son can be challenging, but with time, patience, and support, you can find a way forward that works for both of you.

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Krishna Kumar |242 Answers |Ask -Follow

Workplace Expert - Answered on Apr 24, 2024

Asked by Anonymous - Apr 12, 2024Hindi

Career

I am mechanical design engineer i started working for a drone startup as a product designer and now i am working as design engineer in a service based MNC, i have total 3 years of experience is it okay if i shift my role into data analytics, business analyst, operations analyst or something like that.

Ans: Hello

Sure you can make a shift, but your last 3 years experience may not be considered. Also while making a shift do ask yourself are you making the shift because you love data analytics or is it because of only money. If it's later then you will end up feeling stuck.

All the best.

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Ramalingam Kalirajan |837 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 24, 2024

Question by jatin - Apr 24, 2024Hindi

Money

Hi sir, I have invested in sips from last 5 years but I invested through a brooker and he invested and managed my portfolio in regular mutula funds. I have invested like 8 lakhs and got a market values of like 14 lakhs on that investment, but now I want to convert my regular funds into direct funds. I am confused if i should do that or not. As i have got good returns due to covid 19 dip and ukraine war.

Ans: It's wonderful to hear that you've seen growth in your investments over the past five years, especially during the challenging times we've faced due to the pandemic and geopolitical events. The returns you've garnered are a testament to the potential of the market and the right timing.

Transitioning from regular mutual funds to direct funds is a decision that many investors grapple with. While regular funds often come with commission fees that are paid to brokers or advisors, direct funds don't have these additional costs. Over time, these fees can eat into your returns, affecting your overall gains.

However, the decision to switch shouldn't be based solely on costs. It's crucial to evaluate the value your broker brings to your investment journey. Do they offer personalized advice, timely updates, or help navigate market volatility? If yes, perhaps it's worth continuing with them despite the higher costs.

But if you feel confident in managing your investments or seek to maximize returns by reducing costs, transitioning to direct funds could be a prudent move. Remember, every investor's journey is unique, and what matters most is aligning your investment strategy with your financial goals.

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Ramalingam Kalirajan |837 Answers |Ask -Follow

Mutual Funds, Financial Planning Expert - Answered on Apr 24, 2024

Asked by Anonymous - Apr 24, 2024Hindi

Money

dear Mr. Rama. I am new to all these financial jargons but have knowledge that SIP is one way of generating big funds. however, my age is 48yrs now. i want to retire by 65yrs age with a fund of 1cr with me. suggest me a way that I could generate this income.

Ans: Embarking on the journey of financial planning at 48 is a commendable decision. While the world of finance can seem daunting with its myriad jargons, the essence remains simple: planning and consistency.

Considering your age and retirement goal, the concept of SIP indeed holds promise. By consistently investing over time, SIPs can harness the power of compounding, turning regular investments into a substantial corpus.

The beauty of SIP lies not just in its potential returns but in its discipline. It nudges us to set aside a portion of our earnings regularly, teaching us the virtue of patience and perseverance.

Remember, it's never too late to start, and with the right guidance, your goal of a 1 crore corpus by 65 is achievable. Your determination to secure a comfortable retirement is the first step towards a financially independent future.

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Sushil Sukhwani |313 Answers |Ask -Follow

Study Abroad Expert - Answered on Apr 24, 2024

Asked by Anonymous - Apr 15, 2024Hindi

Career

I completed B.Sc Costume Design and Fashion and due to managerial area of interest and not wish to do sewing practical wish to continue in theoretical study as Master of Fashion Management at NIFT, but once after I try to join Ph.D in Costume Design and Fashion or Ph.D in Fashion, institution are rejected by saying the reason that I wants to complete my Post Graduation in M.Sc Costume Design and Fashion to join Ph.d in fashion and I gone to join Ph.d in Management they are saying that you must wants to join in MBA not Master of Fashion Management. Finally I join at one deemed university on Ph D in Management Science but many of them convey that due to your PG degree and Ph.d is non sink, definitely you won't get opportunity to work as Lecturer either in Fashion design or Management. So what I want to do, ? If I study MBA online will it's valid and consider online MBA as qualification ? ? or else shall I go abroad and try to become lecture in Fashion design and Fashion management ? If yes which country has more opportunity to work as Lecturer in Fashion, will at abroad they accept my PG and Ph.D degree. Due to non-guidance and by seeing the name of NIFT I joined and facing total regrets. Kindly please give a solution

Ans: Hello. Thank you for contacting us. It is understandable that you have encountered challenges while aligning your career and academics. Coming to the question, let me tell you that for pursuing a PhD, a master’s degree would be a basic requirement. It is advised to go for a full-time MBA abroad instead of an online MBA as it would add a great value to your profile. It is advised to check with your desired university whether the program regarding the availability of the program.
Going further,given your background in fashion, you also have the choice of pursuing a master’s of fashion management from a foreign university. As you said, you are interested in theoretical knowledge, program on master of fashion management from overseas would be of interest to you as it would leverage your knowledge accordingly.
You can consider countries like the USA, UK, Australia, and Canada that have a thriving fashion industry. Also, while studying fashion, you can choose to combine your fashion studies with management-related subjects. It would be good if you let us know if you have thoughts about any country where you would like to pursue your desired course. We will give our best possible guidance.

For any further queries, please get in touch with us. We have a team of expert counselors who can guide you through any concerns or questions you may have.

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Shreya Shah |74 Answers |Ask -Follow

Nutritionist, Diabetes Educator - Answered on Apr 24, 2024

Asked by Anonymous - Oct 24, 2023Hindi

Health

Sir my HBA1C is 6.7 in Sep23 ( it was 12.60 in Sep 2022 & came down to 6.80 in Apr 2023 ), FBS is 89 and PP Sugar is 88 (Sep23), am on Glitaray M1 (MN) since past 1 year, i stated to follow very strict diet from Aug23 - eating seasonal fruits in morning between 9 AM to 12 Noon, green salad before lunch n have millets preparation for lunch, same as lunch for dinner, drink Kashaya during the day, not having milk and diary products, oil, sugar, white rice, wheat, maida, fried food, fast food, junk food, outside food, do Brisk walk for 45 mins about 5500 steps in morning and 1500 steps in evening, Yoga in morning for 20 mins followed by Meditation in morning for 20 mins, my question is my HBA1C is not coming down even though my Fasting & PP Glucose have come down to normal level. please help

Ans: - Avoid sugar, jaggery and honey in ur diet
- Avoid fruit juices, coconut water and sugarcane juice
- Include protein with every meal
- Use cold pressed oils instead of refined oils
- Quality sleep - 7hrs/day
- Manage ur stress levels

(more)

Sushil Sukhwani |313 Answers |Ask -Follow

Study Abroad Expert - Answered on Apr 24, 2024

Question by Alphones - Apr 11, 2024Hindi

Career

Indian MBBS degree is Not recognized by USA. How can anyone study MD there?

Ans: Hello Alphones,

To begin with, thank you for contacting us. As an answer to your query, I would like to let you know that if a person holding an Indian MBBS degree wishes to study Doctor of Medicine (MD) in the USA, he/she will generally require to undergo a procedure known as "medical residency." There are numerous steps that one will need to consider. Mentioned below is the same:

As the first step, to ascertain whether the candidate qualifies for a license in the US, they will need to get their educational qualifications assessed by organizations viz., the Educational Commission for Foreign Medical Graduates (ECFMG). Secondly, they will need to clear the United States Medical Licensing Examination (USMLE) Step 1, Step 2 Clinical Knowledge (CK), and Step 2 Clinical Skills (CS). Remember that one’s knowledge and abilities to practice medicine in the USA are evaluated through these exams. Thirdly, upon clearing the exams, they will be required to apply for residency posts using the National Resident Matching Program (NRMP) or similar matching initiatives. Bear in mind that residency programs are highly competitive, and applicants need to show their qualifications and compatibility with the program. After being matched, students enroll in a residency training course in the field of specialization they have opted for. Based on the area of expertise, residency training usually takes three to seven years to complete. Lastly, after having completed residency training, students have the option to become board-certified in their field. They can do so by clearing extra tests that the relevant specialist board administers.

I would like to let you know that although an MBBS from India might not automatically qualify someone to practise medicine in the US, they can still pursue a medical career in the country by completing a medical residency program, as long as they meet the prerequisites and conditions.

For more information, you can visit our website.

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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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