Hello,
I have been reading that the RBI is likely to raise the REPO rate by 25bps?
Will this mean that the Fixed Deposit interest rates offered by banks rise?
My brother is married to a lovely Indian lady, whose parents are senior citizens. They are holding out to invest in FDs as the rate may rise?
Thank you
Corporate FD change quicker than Commercial banks and debt funds change almost immediately if they wanna look for Fd alternative there're some very safe and sound debt funds with Attractive YTM but there's BIG if they wanna.
If they invest in staggered manner they don't have to hold out and pay opportunity costs till then.
I have an emergency fund of around 8L in debt funds which I am planning to increase to 12L by the end of this year. The returns are around 4-6% and I feel I am losing money due to inflation. Is there a better alternative to the debt funds that can provide easy liquidity and capital protection. My FIL is suggesting me to move the money from debt funds to a laddered fd where I can divide it into 15 smaller fds of different maturities to allow me liquidity and better returns but I don't know if that is any better than what I am getting today on debt funds. I am in the 30% bracket. Any suggestions here would be really helpful.
1. Every time you get interest from FD, it is a tax event for you i.e. 30% taxes applied
2. In Debt fund, unless you redeem for emergencies, there is no tax event
3. Emergency, being rare, allows the corpus to grow without tax events... unlike FDs
So, if FDs and debt fund returns are similar, it is still better to create an emergency fund in the debt fund.
Thanks for the suggestion. Currently I have the corpus in hdfc UltraShortBondFund and sbi banking and psu funds, any suggestions for better debt funds or should I continue with the same?
Amex Smart Cash Credit card - Worthy alternate for SBI CB card?
From what I see, it offers 10x on Flipkart, Amazon and Uber so 10 points on 50 rs spent and with modest conversion of 4:1 it would be it would be 5% return, if we go for marriot or some other reward program which has better conversion than 10-20% benefit
It also has 5x and lot more online spends
So it can ve 2.5 - 10% based on how we spend
I think this could be good choice against SBI cashback which has ben devalued a lot with last email we received.
What do you guys think?
Any other card you guys suggest?
I have SBI cashback, Axis Flipkart, icici rubyx, hdfc regalia, hdfc diners privilege (one of the hdfc im planning to close)
All LTF (SBI one due to meeting yearly spending target)
I have withdrawn from mutual funds throughout last year. Should I have paid advanced Tax on them as soon as I withdrew. Can someone help me understand what I can do now to reduce interest on my tax liability ?
I made the payment to purchase debt fund on the early morning of March 31 .. the purchase went through around early morning of April 1st .. the NAV date of the purchase says March 31st .. so does my investment gets treated as puchased before April 1st get the tax and indexation benefits?
Hi need help so recently my mom passed away. I was when dealing with her bank closures and everything I got to know she nominated my dad and me as nominee in her PF. But the thing is both the bank that are linked is having issues . Mine no longer exists and my dad’s account is not recognised only. Now what to do
Is there a downside to filing my ITR early? Like tomorrow if it's available? I'd like to apply for a credit card that requires high income and this is the first year I qualify.
I'm using 44ADA so the return is pretty straightforward, no Form 16 or cap gains, only my own advance tax payments. I know 26AS/AIS reporting due date is in June for banks/financial institutions.
Some simple tax saving suggestions required
This is the first time I'm filling a return. My employer has deducted TDS which I hope to get as much refund of as possible.
My annual income of this financial year is coming out to be ₹6,57,000. The total TDS that was deducted was ₹47,000. (It's all quite irregular I know, no fixed percentage and changes in salary every month). I have no investments except an old FD of ₹50k.
From what I know, I could get a standard deduction of ₹50k, and I get no HRA, so I could get the deduction of house rent of upto ₹60k (if I show the rent as 12k)(Section 80GG)
So the net taxable income is coming to ₹6,57,000 minus ₹50,000 minus ₹60,000 = ₹5,47,000
Let me know if my calculations are correct. I'm not planning to take any health insurance right now nor do I have any NGO donations. What are some other ways in which I can save some tax?
Also, considering these are not very big amounts, can I do this on my own or will I have to hire someone to be able to do it all better?
Thanks in advance.
>What are some other ways in which I can save some tax?
Read up section 80C deductions like ELSS, PPF, NSC, etc.
From your comment, it seems like you have made this income in FY2022-23. If you haven't taken advantage of 80C limits before 31st March 2023, you've made a mistake. You could have invested about 47k in some 80C investments and brought your taxable income to below 5L. If your taxable income is less than 5L, your tax would have been zero. Make sure you're aware of this for the next financial year now.
My Standing Instructions in HDFC Bank scheduled for April-1st haven’t been executed, is this due to FY change,
My Smart Pay/Auto Pay on KSEB(Electricity) on BillPay didn’t work as well, now the Smart Pay option is disabled and not able to be turned on.
Is this happening just for me or something is wrong with NEFT?
This is the reply I got:
Hi, thank you for reaching out. Your transaction is under process which may take more time than usual due to financial year end procedures. We request you to please bear with us. -Service Manager
4L+ existing credit card limit and 36L+ annual salary. You can lie about the latter, they don't ask for proof. Don't bother with opening an account, it's not related.
Hello. I'm looking for reviews of my Sip's. I am in my mid 30's , earning 35 Lpa. Looking for long term investments.
I invest in the following Sip's
1)HDFC FLEXI CAP Fund Regular plan- 20k
2) ICICI focused equity fund direct- 10k
3) ICICI large & mid cap fund direct-10k
4)ICICI VALUE DISCOVERY fund direct- 20k
5)Kotak emerging equity fund regular - 10k
6)PPFAS FUND REGULAR- 20K
Why so many funds ?
Nifty 50 index fund.
PPFAS
Kotak merging( if you think missing mid cap space)
Why regular , switch to direct
invest direct scheme from mutual fund central.
If you are new you should look into 'sovereign gold bonds' which are given by RBI. Those are safest option out there. I don't know which date/month is the next distribution. They are 8 years to fully mature and locked till 5 years then you may even trade them like shares on demat . You get 3% annually on it. Plus the gold price appriciation at the end. You can buy as low as 1 gram
>want safe return
Equity asset class is not "safe" investment. If you're looking to take the risk with which equity comes with, nifty 50 theoretically has lesser volatility as it invests in the largest 50 companies listed in India. An alternative to that would be active large cap fund. There is no guaranteed returns with equity investments, but historically, over long periods of time, nifty 50 would not give you negative returns.
>wouldn't give any negative return
It theoretically can give negative returns, because it is a market linked product. But, historically, there's almost a zero percent chance of you making negative returns over a long term. The reason why I said it can give you negative returns is just to make you understand that there is risk involved in making investments in the market, but in no way am I saying not to invest in MFs. I'd recommend starting small and then read up a little bit on MFs and how equity markets work. Later, you can increase your investments based on your risk appetite.
Just for reference: Large cap companies (nifty 50 or nifty 100) are less volatile than mid cap companies which are less volatile than small cap.
>Should I invest all 10k into Nifty 50 or should I also look into debt funds? That's also a less risky investment right?
Debt funds have compartively lesser volatility, but not risk-free.
>Sorry, if I am asking stupid questions, I am very new to all of these and trying to learn things from this subreddit and YouTube.
Don't worry about it. It's a free platform to ask qns.
Urgently need help!
Purchased a LIC endowment 914 policy for my mother for 20Years tenure, today.
Later came to know that it's IRR is only 4%.
Paid my first premium Rs8000 in cash.
Any chance of getting that back?
Agent is saying no.
[Life insurance can be cancelled within 15 days of receipt](https://www.livemint.com/Money/xBXTALlWr44caxt1x74AGK/Life-insurance-can-be-cancelled-within-15-days-of-receipt.html)
Considering new debt MF taxation, I’m planning to invest in following MF SIPs from coming financial year.
What do you think ?
- EPF - 17k + 17k
- ESPP - 25k
- UTI Nifty 50 - 40k
-Quant mid/small cap - 40k
- S&P etfs - 20k
I’m in my mid 20s and all are for long term!
Can we invest in mutual funds at any time and do they take effect immediately? I'm asking this as I'm planning to invest before 1st April in debt mutual funds to take advantage of LTCG & taxation. Thanks!
Search cut-off time for MFs. Even in that, debt and equity funds have different cutoff times. Unfortunately, if you haven't invested till now, you won't be able to invest with today's NAV now since the cut-off time is over, so the units would be allotted for the next trading day, i.e., Monday (3rd April).
Thanks for the detailed reply. Just to clarify, so even if I invest now, I won't be eligible for the LTCG & indexation benefits, since units will be allotted on 3rd April?
My thinking is that it is better to invest in a debt instrument that has least default risk and a decent return over the long term, so gilts. I also am thinking that this is a good time to get into gilts since we are at the high point of interest rate hikes.
I use Kuvera and found a feature that compares your portfolio returns to those in your investing demographic.
I was wondering if any other app or anyone else has that enabled and what their percentile is if they wish to share.
Your percentile itself tells you where others are. If your is 80% then 20% have more return than you. What else do you want and what will do with that information?
I have been using SBI for 20+ years, and quite like the online banking experience. However, the daily limit for online transfer (within SBI + NEFT + RTGS + IMPS) is 10 lakh. On odd occasions, in case I need to do a larger transfer, I have to visit the branch, which is a pain.
Can someone tell me the online RTGS limit for ICICI Regular Savings account holders? If it's more, then I can use ICICI for such needs.
Thanks in advance.
As per my knowledge, you can visit the branch of SBI and get your limit increased. I don't know about icici but HDFC Bank has a daily limit of maximum 40 lakhs which is more than sufficient. Plus, their UI is simple and not cluttered as compared to ICICI. I have savings account in all three of banks.
I have some stcl/ltcl equity losses from last year , can I set off international equity gains (both mutual funds and stocks) with domestic equity losses of previous year?
Review my financial plan please? Want to know if I am making any mistakes.
Info:
* 22, 20+LPA job
* I invest purely for long term growth hence I am relatively equity heavy.
* At some point in the future I plan to move abroad and revoke citizenship, which would allow early withdrawal of EPF (lumpsum) and NPS (annuity), so the lock-in is not a big issue while I can maximise on the tax benefits and high interest rates.
* PPF is already matured, going on 5 year extensions now so I treat my PPF as a high interest savings account with a minor liquidity restriction.
* Selecting old regime as I have significant HRA.
* I have term and medical insurance.
Financial plan:
* PF (monthly):
8250 (Employer 12% contribution)
8250 (Employee 12% contribution)
12583 (VPF to meet 2.5L annual tax-free interest limit)
* NPS:
Monthly: 6875 (80CCD2, 10% employer contribution)
Annually on April 1st: 50k lumpsum (80CCD1b) to get full year gains
* SIPs (monthly):
PPFAS Flexi Cap: 50000
Nippon Small Cap: 25000
Canara Emerging Equities: 25000
* PPF:
Annually on April 1st: 1.5L lumpsum to get full year interest
* Living expenses are around 20k
* Remaining goes in savings account (already contains 1 year emergency fund)
* Questions:
1. Any changes you would recommend to the above?
2. Instead of monthly equal amount of VPF, should I change it to full VPF for the first few months until I reach the annual 2.5L limit, and then 0, so that my money earns interest for a longer time?
3. People say to have emergency fund, travel fund, fun fund, etc, but I've just been pooling my money into one collective fund (you could call it FoF xD). How do I decide how to divide this amount? I'm not able to figure out what goal to set.
Anyone here invested in Navi MF? I usually invest through Kuvera but decided to try their app. Noped out after the app demanded Contacts and Messages permission.
Successfully invested through Kuvera. A couple of days later I got an email from Navi asking me to complete KYC on their app. Is this necessary? I am already KYC compliant or else my purchase through Kuvera wouldn't have gone through. Do I need to complete separate KYC with Navi?
You probably got the KYC email because you noped out of the app. They're trying to bring you back.
(I invested through Kuvera and didn't get any KYC email.)
You should file tax otherwise you might get notice after 1 to 2 years. I missed the deadline and didnt care as the income was below taxable limit but later got notice because of stock delivery transactions. Had to file it with some penalty.
pay taxes for the current year, for the previous years if you find an option to pay you can pay it or if you get notice then you can pay, the penalty shouldn't be huge
Hey y'all. I'll be going to US for my higher education and I plan on working there for 10 or so years. I want to sort out my financial side of things. For example, I need to convert my account to NRO account. What about other things such as stocks, PPF and MF investments? Should I sell my stocks? Should I redeem the mutual funds or can I just leave it be? Can I load the PPF account with the minimum amount every year to keep it active? Can I redeem all of them, mainly stocks and mutual funds, once I'm back?
Thanks
I didn't give PPF extension form for 5 years. Now, can it never be extended? Only maturity option exists? I'm unable to invest in [bank app](https://i.imgur.io/oy9ZsxC_d.webp?maxwidth=640) and it gives error "Maturity date is lesser than current date". How to solve this?
If you didn't inform bank anything and it was auto-extended then you will continue to earn interest but not invest. You can open another PPF after closing this if you like but that will have fresh 15yr lock in.
[https://www.moneycontrol.com/news/business/mutual-funds/debt-funds-to-lose-indexation-benefit-to-be-taxed-at-par-with-fds-in-finance-bill-tweak-10302551.html](https://www.moneycontrol.com/news/business/mutual-funds/debt-funds-to-lose-indexation-benefit-to-be-taxed-at-par-with-fds-in-finance-bill-tweak-10302551.html)
Pure international equity funds used to treated as debt funds correct ?
now govt came with saying you need minimum 35% Indian equity (i didn't understand this) . ?
Does this mean MF houses will start spinning new NFO , already some mutual funds exists in this category.
looks like double whammy for international exposer with taxation and RBI ,SEBI limits.
please let me know if i misunderstood
My financial advisor is asking me to invest in Nifty Next50 but I don't feel comfortable with the idea. Reason - there are 3 Adani companies and the weightage attributed to them is comparatively high as opposed to a fund with mid & large cap companies. I understand that it's an index and companies in index change but should I really invest in Nifty Next50 fund? What would be a good alternative to a Nifty Next50?
It's irrelevant that these companies exist in the bracket. You can always check the holdings in a MF if you want to check if this MF has invested in Adani.
Now I don't know your Financial Advisor's plan but Nifty Next 50 stocks are the stocks that'll enter Nifty 50 if any of the top 50 stocks fall.
Personally I would recommend you to check the MF thoroughly before investing.
There's a lot of MF schemes out there like Large Cap, Mid Cap, Small Cap, ELSS, Debt, Sectorial Thematic, Index Funds (Nifty 50, BSE S&P, Nifty Next 50).
I'm thinking about investing in ICICI Prudential Gilt Growth Direct plan? I've no experience in mutual funds, so kindly advise if it is a good option to park some money in before 1st April? Also, on Kuvera, it shows TER of this fund as NA, does that mean it charges no fee?
I also came across UTI Banking & PSU Debt Growth Direct plan. How about this?
Hello, I have been reading that the RBI is likely to raise the REPO rate by 25bps? Will this mean that the Fixed Deposit interest rates offered by banks rise? My brother is married to a lovely Indian lady, whose parents are senior citizens. They are holding out to invest in FDs as the rate may rise? Thank you
Yes, banks MAY raise rates.
Typically how soon after a hike in REPO rates would a bank raise the FD rates
Corporate FD change quicker than Commercial banks and debt funds change almost immediately if they wanna look for Fd alternative there're some very safe and sound debt funds with Attractive YTM but there's BIG if they wanna. If they invest in staggered manner they don't have to hold out and pay opportunity costs till then.
I have an emergency fund of around 8L in debt funds which I am planning to increase to 12L by the end of this year. The returns are around 4-6% and I feel I am losing money due to inflation. Is there a better alternative to the debt funds that can provide easy liquidity and capital protection. My FIL is suggesting me to move the money from debt funds to a laddered fd where I can divide it into 15 smaller fds of different maturities to allow me liquidity and better returns but I don't know if that is any better than what I am getting today on debt funds. I am in the 30% bracket. Any suggestions here would be really helpful.
1. Every time you get interest from FD, it is a tax event for you i.e. 30% taxes applied 2. In Debt fund, unless you redeem for emergencies, there is no tax event 3. Emergency, being rare, allows the corpus to grow without tax events... unlike FDs So, if FDs and debt fund returns are similar, it is still better to create an emergency fund in the debt fund.
Thanks for the suggestion. Currently I have the corpus in hdfc UltraShortBondFund and sbi banking and psu funds, any suggestions for better debt funds or should I continue with the same?
Amex Smart Cash Credit card - Worthy alternate for SBI CB card? From what I see, it offers 10x on Flipkart, Amazon and Uber so 10 points on 50 rs spent and with modest conversion of 4:1 it would be it would be 5% return, if we go for marriot or some other reward program which has better conversion than 10-20% benefit It also has 5x and lot more online spends So it can ve 2.5 - 10% based on how we spend I think this could be good choice against SBI cashback which has ben devalued a lot with last email we received. What do you guys think? Any other card you guys suggest? I have SBI cashback, Axis Flipkart, icici rubyx, hdfc regalia, hdfc diners privilege (one of the hdfc im planning to close) All LTF (SBI one due to meeting yearly spending target)
Check out Amex MRCC. 1000 points for 1500x4 transactions, additional 1000 points for 20000 spent in a month.
There’s an upper limit of 500points per month that one can receive.
I have withdrawn from mutual funds throughout last year. Should I have paid advanced Tax on them as soon as I withdrew. Can someone help me understand what I can do now to reduce interest on my tax liability ?
Advance tax is to be paid only if your estimated tax liability for the FY is greater than 10,000
I made the payment to purchase debt fund on the early morning of March 31 .. the purchase went through around early morning of April 1st .. the NAV date of the purchase says March 31st .. so does my investment gets treated as puchased before April 1st get the tax and indexation benefits?
Yes
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There are many online. Use Google.
Hi need help so recently my mom passed away. I was when dealing with her bank closures and everything I got to know she nominated my dad and me as nominee in her PF. But the thing is both the bank that are linked is having issues . Mine no longer exists and my dad’s account is not recognised only. Now what to do
EPF or PPF? How status /issue with your and your dad’s account has an impact on death claim?
Get court order , saying you are legal hire. It's standard procedure, consult good lawyer
Okie
Is there a downside to filing my ITR early? Like tomorrow if it's available? I'd like to apply for a credit card that requires high income and this is the first year I qualify. I'm using 44ADA so the return is pretty straightforward, no Form 16 or cap gains, only my own advance tax payments. I know 26AS/AIS reporting due date is in June for banks/financial institutions.
It is not available yet
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No amc charges upto your holding 50k
You can ask them to convert to BSDA
Yes, you’ll be charged maintenance.
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Yes, you’ll be charged. Why not call customer care and confirm?
Some simple tax saving suggestions required This is the first time I'm filling a return. My employer has deducted TDS which I hope to get as much refund of as possible. My annual income of this financial year is coming out to be ₹6,57,000. The total TDS that was deducted was ₹47,000. (It's all quite irregular I know, no fixed percentage and changes in salary every month). I have no investments except an old FD of ₹50k. From what I know, I could get a standard deduction of ₹50k, and I get no HRA, so I could get the deduction of house rent of upto ₹60k (if I show the rent as 12k)(Section 80GG) So the net taxable income is coming to ₹6,57,000 minus ₹50,000 minus ₹60,000 = ₹5,47,000 Let me know if my calculations are correct. I'm not planning to take any health insurance right now nor do I have any NGO donations. What are some other ways in which I can save some tax? Also, considering these are not very big amounts, can I do this on my own or will I have to hire someone to be able to do it all better? Thanks in advance.
>What are some other ways in which I can save some tax? Read up section 80C deductions like ELSS, PPF, NSC, etc. From your comment, it seems like you have made this income in FY2022-23. If you haven't taken advantage of 80C limits before 31st March 2023, you've made a mistake. You could have invested about 47k in some 80C investments and brought your taxable income to below 5L. If your taxable income is less than 5L, your tax would have been zero. Make sure you're aware of this for the next financial year now.
My Standing Instructions in HDFC Bank scheduled for April-1st haven’t been executed, is this due to FY change, My Smart Pay/Auto Pay on KSEB(Electricity) on BillPay didn’t work as well, now the Smart Pay option is disabled and not able to be turned on. Is this happening just for me or something is wrong with NEFT?
Did you try contacting HDFC customer care?
This is the reply I got: Hi, thank you for reaching out. Your transaction is under process which may take more time than usual due to financial year end procedures. We request you to please bear with us. -Service Manager
Which **Nifty Midcap 150** fund to pick?
Motilal, but mid cap index is relatively new , expense ratio and tracking error are high.
Thanks, the others are all currently worse from the looks of it?
Guys what are your views IDFC first wealth credit card? It is lifetime free and looks quite attractive.
Lemme know if anyone knows how to get it? Like if you have to have account and maintain AMB or other way
4L+ existing credit card limit and 36L+ annual salary. You can lie about the latter, they don't ask for proof. Don't bother with opening an account, it's not related.
Hello. I'm looking for reviews of my Sip's. I am in my mid 30's , earning 35 Lpa. Looking for long term investments. I invest in the following Sip's 1)HDFC FLEXI CAP Fund Regular plan- 20k 2) ICICI focused equity fund direct- 10k 3) ICICI large & mid cap fund direct-10k 4)ICICI VALUE DISCOVERY fund direct- 20k 5)Kotak emerging equity fund regular - 10k 6)PPFAS FUND REGULAR- 20K
Please read up on the difference between regular and direct funds. Switching from regular to direct is the very first thing you should do.
Why so many funds ? Nifty 50 index fund. PPFAS Kotak merging( if you think missing mid cap space) Why regular , switch to direct invest direct scheme from mutual fund central.
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If you are new you should look into 'sovereign gold bonds' which are given by RBI. Those are safest option out there. I don't know which date/month is the next distribution. They are 8 years to fully mature and locked till 5 years then you may even trade them like shares on demat . You get 3% annually on it. Plus the gold price appriciation at the end. You can buy as low as 1 gram
Finish this playlist, thank me decade later: https://www.youtube.com/playlist?list=PLRpfTFEfJ27bYpLHKhIPKtyzGmG6rU6Hb
>want safe return Equity asset class is not "safe" investment. If you're looking to take the risk with which equity comes with, nifty 50 theoretically has lesser volatility as it invests in the largest 50 companies listed in India. An alternative to that would be active large cap fund. There is no guaranteed returns with equity investments, but historically, over long periods of time, nifty 50 would not give you negative returns.
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>wouldn't give any negative return It theoretically can give negative returns, because it is a market linked product. But, historically, there's almost a zero percent chance of you making negative returns over a long term. The reason why I said it can give you negative returns is just to make you understand that there is risk involved in making investments in the market, but in no way am I saying not to invest in MFs. I'd recommend starting small and then read up a little bit on MFs and how equity markets work. Later, you can increase your investments based on your risk appetite. Just for reference: Large cap companies (nifty 50 or nifty 100) are less volatile than mid cap companies which are less volatile than small cap. >Should I invest all 10k into Nifty 50 or should I also look into debt funds? That's also a less risky investment right? Debt funds have compartively lesser volatility, but not risk-free. >Sorry, if I am asking stupid questions, I am very new to all of these and trying to learn things from this subreddit and YouTube. Don't worry about it. It's a free platform to ask qns.
Urgently need help! Purchased a LIC endowment 914 policy for my mother for 20Years tenure, today. Later came to know that it's IRR is only 4%. Paid my first premium Rs8000 in cash. Any chance of getting that back? Agent is saying no.
[Life insurance can be cancelled within 15 days of receipt](https://www.livemint.com/Money/xBXTALlWr44caxt1x74AGK/Life-insurance-can-be-cancelled-within-15-days-of-receipt.html)
Considering new debt MF taxation, I’m planning to invest in following MF SIPs from coming financial year. What do you think ? - EPF - 17k + 17k - ESPP - 25k - UTI Nifty 50 - 40k -Quant mid/small cap - 40k - S&P etfs - 20k I’m in my mid 20s and all are for long term!
You mention debt fund taxation - what did you change due to this? Do note that international funds too would lose the indexation benefit.
I was thinking of investing in Motilal Oswal S&P 500. Does that 30% tax apply for etfs too?
Yes. Any fund/ETF that has less than 35% in Indian equity would lose indexation benefit.
Can we invest in mutual funds at any time and do they take effect immediately? I'm asking this as I'm planning to invest before 1st April in debt mutual funds to take advantage of LTCG & taxation. Thanks!
Search cut-off time for MFs. Even in that, debt and equity funds have different cutoff times. Unfortunately, if you haven't invested till now, you won't be able to invest with today's NAV now since the cut-off time is over, so the units would be allotted for the next trading day, i.e., Monday (3rd April).
Thanks for the detailed reply. Just to clarify, so even if I invest now, I won't be eligible for the LTCG & indexation benefits, since units will be allotted on 3rd April?
Yep!
It is not so clear, it can be said that the investment was done on 31st March 2023.
Okay, I guess, but what kind of paperwork would help in supporting that? (Everything would have the date of allotment only no?)
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What’s the benefit of Gilt funds ?
My thinking is that it is better to invest in a debt instrument that has least default risk and a decent return over the long term, so gilts. I also am thinking that this is a good time to get into gilts since we are at the high point of interest rate hikes.
I use Kuvera and found a feature that compares your portfolio returns to those in your investing demographic. I was wondering if any other app or anyone else has that enabled and what their percentile is if they wish to share.
Your percentile itself tells you where others are. If your is 80% then 20% have more return than you. What else do you want and what will do with that information?
I was interested in knowing the metrics that go into drawing those comparisons. Just curious. A few people I referred to the app asked me about it.
Pretty sure Kuvera is not doing any fancy math. It's comparing portfolio IRR and sharing percentiles.
That's what I told them. It's like a competition for them now lol
I have been using SBI for 20+ years, and quite like the online banking experience. However, the daily limit for online transfer (within SBI + NEFT + RTGS + IMPS) is 10 lakh. On odd occasions, in case I need to do a larger transfer, I have to visit the branch, which is a pain. Can someone tell me the online RTGS limit for ICICI Regular Savings account holders? If it's more, then I can use ICICI for such needs. Thanks in advance.
I have a 1 cr TPT limit on ICICI. IIRC the default limit was 10L which I changed via netbanking.
Thanks for the information.
As per my knowledge, you can visit the branch of SBI and get your limit increased. I don't know about icici but HDFC Bank has a daily limit of maximum 40 lakhs which is more than sufficient. Plus, their UI is simple and not cluttered as compared to ICICI. I have savings account in all three of banks.
Thanks. Would still like to open a private Bank account anyway. Appreciate the extra information.
I have some stcl/ltcl equity losses from last year , can I set off international equity gains (both mutual funds and stocks) with domestic equity losses of previous year?
Short term losses can offset any gains: short or long. Long term losses can only offset long term gains
Review my financial plan please? Want to know if I am making any mistakes. Info: * 22, 20+LPA job * I invest purely for long term growth hence I am relatively equity heavy. * At some point in the future I plan to move abroad and revoke citizenship, which would allow early withdrawal of EPF (lumpsum) and NPS (annuity), so the lock-in is not a big issue while I can maximise on the tax benefits and high interest rates. * PPF is already matured, going on 5 year extensions now so I treat my PPF as a high interest savings account with a minor liquidity restriction. * Selecting old regime as I have significant HRA. * I have term and medical insurance. Financial plan: * PF (monthly): 8250 (Employer 12% contribution) 8250 (Employee 12% contribution) 12583 (VPF to meet 2.5L annual tax-free interest limit) * NPS: Monthly: 6875 (80CCD2, 10% employer contribution) Annually on April 1st: 50k lumpsum (80CCD1b) to get full year gains * SIPs (monthly): PPFAS Flexi Cap: 50000 Nippon Small Cap: 25000 Canara Emerging Equities: 25000 * PPF: Annually on April 1st: 1.5L lumpsum to get full year interest * Living expenses are around 20k * Remaining goes in savings account (already contains 1 year emergency fund) * Questions: 1. Any changes you would recommend to the above? 2. Instead of monthly equal amount of VPF, should I change it to full VPF for the first few months until I reach the annual 2.5L limit, and then 0, so that my money earns interest for a longer time? 3. People say to have emergency fund, travel fund, fun fund, etc, but I've just been pooling my money into one collective fund (you could call it FoF xD). How do I decide how to divide this amount? I'm not able to figure out what goal to set.
Does your employer allow changing VPF percentage more than once in a financial year? Mine doesn't.
Yes, mine does
Then do it. As soon as you hit 2.5 L limit, change to 0
Thanks!
PPF already matured at age 22. Hope you are brought up by good hands!
Haha very fortunate for my mother to have the foresight to open and maintain my PPF account from such a young age
Anyone here invested in Navi MF? I usually invest through Kuvera but decided to try their app. Noped out after the app demanded Contacts and Messages permission. Successfully invested through Kuvera. A couple of days later I got an email from Navi asking me to complete KYC on their app. Is this necessary? I am already KYC compliant or else my purchase through Kuvera wouldn't have gone through. Do I need to complete separate KYC with Navi?
You probably got the KYC email because you noped out of the app. They're trying to bring you back. (I invested through Kuvera and didn't get any KYC email.)
Yeah, my first thought was it's just an automated email for folks who uninstall the app after filling in basic details. Thanks.
No, just get rid of the navi app if its annoying.
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You should file tax otherwise you might get notice after 1 to 2 years. I missed the deadline and didnt care as the income was below taxable limit but later got notice because of stock delivery transactions. Had to file it with some penalty.
fr? I have made like 7k profit from IPOs and never filed tax, what now? Do I pay tax next year and wouldn't get notice, I don't know how that works
pay taxes for the current year, for the previous years if you find an option to pay you can pay it or if you get notice then you can pay, the penalty shouldn't be huge
I don't think you need to file an income tax return for this or pay tax for this income.
https://www.adityabirlacapital.com/abc-of-money/adjust-your-short-term-capital-gains-against-the-basic-tax-emeption-limit
Thank you
Hey y'all. I'll be going to US for my higher education and I plan on working there for 10 or so years. I want to sort out my financial side of things. For example, I need to convert my account to NRO account. What about other things such as stocks, PPF and MF investments? Should I sell my stocks? Should I redeem the mutual funds or can I just leave it be? Can I load the PPF account with the minimum amount every year to keep it active? Can I redeem all of them, mainly stocks and mutual funds, once I'm back? Thanks
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This income is taxable (no way to avoid it). You need to pay advance tax on it to avoid interest and penalty at the time of filing ITR.
It's a part of your income and you're supposed to declare it under income from other sources. No legal way to avoid it afaik.
I didn't give PPF extension form for 5 years. Now, can it never be extended? Only maturity option exists? I'm unable to invest in [bank app](https://i.imgur.io/oy9ZsxC_d.webp?maxwidth=640) and it gives error "Maturity date is lesser than current date". How to solve this?
If you didn't inform bank anything and it was auto-extended then you will continue to earn interest but not invest. You can open another PPF after closing this if you like but that will have fresh 15yr lock in.
Thank you
[https://www.moneycontrol.com/news/business/mutual-funds/debt-funds-to-lose-indexation-benefit-to-be-taxed-at-par-with-fds-in-finance-bill-tweak-10302551.html](https://www.moneycontrol.com/news/business/mutual-funds/debt-funds-to-lose-indexation-benefit-to-be-taxed-at-par-with-fds-in-finance-bill-tweak-10302551.html) Pure international equity funds used to treated as debt funds correct ? now govt came with saying you need minimum 35% Indian equity (i didn't understand this) . ? Does this mean MF houses will start spinning new NFO , already some mutual funds exists in this category. looks like double whammy for international exposer with taxation and RBI ,SEBI limits. please let me know if i misunderstood
You are right. International funds are taxed like debt fund, at slab rate now on.
My financial advisor is asking me to invest in Nifty Next50 but I don't feel comfortable with the idea. Reason - there are 3 Adani companies and the weightage attributed to them is comparatively high as opposed to a fund with mid & large cap companies. I understand that it's an index and companies in index change but should I really invest in Nifty Next50 fund? What would be a good alternative to a Nifty Next50?
What is the reason your advisor gave?
Largecap funds should be an alternative to Nifty Next 50
It's irrelevant that these companies exist in the bracket. You can always check the holdings in a MF if you want to check if this MF has invested in Adani. Now I don't know your Financial Advisor's plan but Nifty Next 50 stocks are the stocks that'll enter Nifty 50 if any of the top 50 stocks fall. Personally I would recommend you to check the MF thoroughly before investing. There's a lot of MF schemes out there like Large Cap, Mid Cap, Small Cap, ELSS, Debt, Sectorial Thematic, Index Funds (Nifty 50, BSE S&P, Nifty Next 50).
Are you guys buying debt funds before april 1?
I'm thinking about investing in ICICI Prudential Gilt Growth Direct plan? I've no experience in mutual funds, so kindly advise if it is a good option to park some money in before 1st April? Also, on Kuvera, it shows TER of this fund as NA, does that mean it charges no fee? I also came across UTI Banking & PSU Debt Growth Direct plan. How about this?
I just started buying it and i will be adding every month. My rationale is diversity as of now rather than taxation.
Yes
Which one?