Need Expert Advice?Our Gurus Can Help

Ans: no, stay away from IT as a sector

Ans: no

Ans: personally, I am not so confident on any SME stocks, valuation is a BIG concern... request you to stay away.

Ans: Tata Chem ok for sip but a clear NO for LIC

Ans: very good, always keep a track on the news for these companies and stay invested for good wealth creation.

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Ans: KEEP DOING

Ans: yes

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Ans: yes you can, you have 2 options:
1) you can buy shares every month at a specific date by self.
2) Your broker could have this feature - connect with them

Ans: Golkunda - Degrowth in Revenue and Profit and Decline in Quarterly Net Profit with falling Profit Margin (YoY). SELL
All others look good and keep holding for long term.

Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Ans: yes


Disclaimer: Investments in securities are subject to market RISKS. Read all the related documents carefully before investing. Please consult your appointed/paid financial adviser before taking any decision. The securities quoted are for illustration only and are not recommendatory. Registration granted by SEBI, membership of BASL and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

Ans: You are welcome.

Ans: Dear Zarina Ji,

I hope you are doing well. I understand your concern regarding the rental of your Pagri flat.

The Pagri system is indeed a unique and complex aspect of Mumbai's real estate. As per the information available, there is no specific clause in the Income Tax Act that prohibits the renting of a Pagri flat. However, the legalities surrounding the Pagri system can be quite intricate and may vary based on specific circumstances.

In your case, as you are the beneficiary owner and sole tenant of the flat, and you are declaring the rent as your income in your IT return, it appears that you are following due process. Your grandson is also providing all necessary documents to his company for HRA claim, which seems appropriate.

However, I would strongly recommend consulting with a legal expert or a chartered accountant who is well-versed in the Pagri system and its implications. This will help you ensure that you are in full compliance with all legal and tax requirements.

Stay healthy and safe.

Best regards

Ans: Dear Shakir,

I hope you and your family are in the best of health and spirits.

Coming to your query, the Pagri system is a unique form of tenancy prevalent in some parts of India, including Mumbai. In this system, the tenant has certain rights over the property, but the ownership remains with the landlord.

As per the information available, there is no specific clause in the Income Tax Act that prohibits the renting of a Pagri flat. However, it's important to note that in the Pagri system, only tenancy rights can be transferred, not the ownership of the property.

In your case, as you are the owner of the flat, you can certainly rent it out to your grandson. The rent you receive from your grandson would be considered as your income and should be reported in your Income Tax Returns. Your grandson can claim HRA (House Rent Allowance) benefit on the rent he pays to you, provided he satisfies the conditions laid down for claiming HRA.

However, I would advise you to consult with a tax consultant or a chartered accountant to understand the complete tax implications based on your specific circumstances.

I hope this information helps.

Stay healthy and safe!

Best regards.

Ans: Thanks Shakir, everything great with us. Hope the very same with you and your family.

All NFOs will offer you only a bulk subscription facility. Typically, NFOs close in a few days and then open within a week or so and then you can set-up a SIP the way you would for any fund in a normal manner.

If you do wish to subscribe to this particular NFO (HDFC Defence Fund) only through a SIP, let’s say of Rs 5000, then you have two options:-
1. Minimum subscription amount is Rs 5000. Invest Rs 5000 in the NFO. When you get the allotment, you would also get your folio number along with it. Set up your SIP in it for Rs 5000.

2. Do not do anything during the NFO. When the NFO closes and the fund opens for regular subscription (which will be within 5 business days of NFO closing, as per the scheme documents), set up the SIP as you desire.

Above notwithstanding, I will request everybody to not confuse between an IPO of a stock (share) and NFO of a mutual fund scheme. The two are intrinsically entirely different. A NFO has just no track record and you could be investing in a new born baby hoping that he will be Amitabh Bacchan when he grows up!

We advise our clients never to invest in any NFO.

Ans: Hi Shakir Madam
Yes, the standard deduction is available to be claimed

Ans: Yes, you can offer rent income of Rs.8,34,000 on property owned by you and claim standard deduction of 30%.

Ans: Yes, interest deduction against rent income is allowed even in new tax regime. It is standard deduction so doesn't require any proof.

Ans: Individual (tenant) is required to deduct TDS in last month of the year or last month of tenancy (whichever is earlier) u/s 194IB

Ans: Against rent income, standard deduction of 30% of income is available. Tax rebate upto Rs.22,500 is available for FY 2023-24 for person earning income upto Rs.7 lacs. Accordingly, no tax liability is likely to arise.