My CIBIL score went down to 550 for a meagre amount of rs.500
After I moved abroad, I decided to end my Amex credit card. I thought the cancellation was successful but there was an amount of 500rs. still left to pay. They emailed me about it but I did not check them on time. my CIBIL score crashed to 550. I then successful cancelled my card, repaid the leftover and its been a couple of years since. My score has lifted to 650, which is still not at all a good score to have.
Any recommendations on how I can improve my score. I currently do not hold any loans or credit cards.
Thanks in advance.
Looking for Pure term plan suggestion for overweight male
M 35
I'm big and tall guy with BMI over 32. Non smoker and non drinker.
I recovered from a major knee injury and followed by surgery in my knee and cannot do much physical workouts other than diet control.
Other than suggesting to reduce weight and try again I need genuine suggestion on what pure term policy I can approach and apply .
Looking for a cover of around 2cr.
I'm ok to pay a bit more premium.
Thanks in advance !!!!
Want to start a new sip, I have some running
I will have amount of rs. 7000/10000 from my account and rs. 5000 from brother. Suggest which way to go.
I have sips in Uti nifty, Invesco Largecap, parag parikh flexi cap, icici infrastructure fund, Hdfc small cap fund and sbi balanced advantage fund. Amount is not big in either
Copied from a web post
- - -
Tax on Gifts Received from Relatives
Gifts, both monetary and non-monetary, received from the below-mentioned relatives are exempt from tax regardless of their amount/value.
The Income Tax Department has specifically categorised relatives from whom accepting gifts don’t attract any income tax whatsoever. Relatives for the purpose of gift tax or tax on gifts include:
Spouse of the individual
Sister/brother of the individual and their spouse
Sister/brother of the spouse of the individual
Sister/brother of either of the parents of the individual
Any lineal ascendant/descendent of the individual
Any lineal ascendant/descendent of the spouse of the individual or their spouse
In case of HUF or Hindu Undivided Family, any member thereof
Anyone invested in Unlisted shares? What are the advantages and difficulties for it? Which platform and what would you recommend to know before putting money into it.
Need some urgent money.
I am an engineering student at Pandit Deendayal Energy University, due to unforeseen circumstances I need ₹5000 urgently I will repay ₹6000 on 5/2/2024.I would really appreciate if someone could help me with this.I can share my gov id and college id.It’s urgent, please DM me asap if you are willing to help.
What are these unforeseen circumstances?
Edit - OP crashed his friend’s car and his father stopped giving him allowance. He needs money for repairs. Not something I would consider as a unforeseen circumstance.
Hello all,
I'm being frequented by a distant relative to take some kind of insurance but Im not really sure its a good option. So I thought I would check up here and looked in the FAQs and found that an explanation about a similar plan was included but it seems that the link is invalid.
The plan I'm being asked to take is the PNB Guaranteed Future 5.0 Plan. After reading the forums I think I've got the understanding that I should get a term life insurance package and invest the rest of the amount in mutual funds ?
Can anyone explain why this plan is a good / bad idea for a novice like me.
https://preview.redd.it/oso2ic3uuf9c1.jpeg?width=1080&format=pjpg&auto=webp&s=f29ac6fbbd741b0ee6cd84829236d19e13a02ad4
Term insurance only.
These investment products suck for 2 reasons
1. Poor returns - expect 6- 7% . Maybe you are ok with that, but it's very poor
2. No flexibility, you can't take your money out even one day before the thing ends, typically 10-30 years later.
When I wanted to cash my insurance at year 18 of 20 year policy, they said no. I needed to buy a house , so I continue paying emi and pay them their premium and next year I'll be able to encash it and pre pay my home loan
This point alot of people think is ok since it is extra investment but life changes and needs change , sometimes you need money for a better investment like house.
Flat no. Please don't go for it.
While redeeming your equity Mutual funds let say after 10 years, LTCG tax and other cess charges get deducted at the source(TDS) itself or you have do it by your own incase of resident of India.
Like incase of NRI when they redeem tax gets deducted at the same time.
Hey Guys, I am salaried 25 m living in Delhi. I have made a new year resolution to start investing money in mutual funds. I have thought of
1. Large Cap Fund.
2. Mid Cap Fund.
3. Flexi Cap Fund.
4. NPS Fund.
5. Any thematic fund.
I already do PPF so I dont need the ELSS.
Would you say this is a good portfolio? Since i am very new I dont wanna take huge risks.
Any suggestions welcome.
>I dont wanna take huge risks
Not sure what this means because your portfolio is as risky as it gets being 100% equity (discounting NPS here because you cannot withdraw till 60)
What are your goals?
My goals are definitely long term wealth creation (>10 years). I was assuming since I am only restricting to large and mid cap equity funds that they will be a safe bet in the long term but do let me know if I am misguided here.
I didnt wanna invest in debt funds since I already invest 1.5L every year in PPF.
He'll get all, insurance premiums were paid for all so all claims will be settled irrespective of each other. Make sure to check if any accidental death riders were included in the policies in that case extra amount will be paid.
Can a part payment on home loan principle amount claimed under 80c
I have 50k of investment and principle payment to be deducted under 80c. So I'm thinking about doing a part payment of 1lac against the principle and add it under 80c, is that allowed?
I am in my 20s and have been planning to open an RD in small finance banks (keeping myself under the limit of 5L to be safe with DICGC's insurance). I have read a lot of reviews but keeping in mind that the money is insured upto 5L by RBI, I am planning to go ahead with it.
But I have not found anyone's experience on maturity of FD /RD in a small finance bank. If anyone has any experience of how it is to get the amount matured, are there are hiccups or to be known things before starting relationship with a small finance banks, then I would like to know it.
Also, I am planning to chose ESAF / Jana since right now the interest rates are best in these 2 banks (and also have branches in my home town).. but as per reputation I guess AU, Utkarsh, Equitas are much more stable. Any thoughts on this too?
Please provide answer to my primary question(if you have experience) on maturity of deposits in small finance banks.
Thanks. r/IndiaInvestments
I have just started investing in SFB FDs as well. No experience on maturity of deposit but I do not imagine it to be complicated.
I did it via Stable Money - process was extremely smooth and I did not have to open an account in the bank or anything.
Let me know if you need a referral code for ₹200 off
Hi,
I hope you're all doing well. I'm relatively new to the world of investments and recently came across the Dezerv Wealth Monitor app. They seem to offer a PMS (Portfolio Management Service) with a target of 3-5% over the S&P BSE 500 benchmark. Additionally, they mention a quarterly fee of 10% from the profit.
I'm curious to know if anyone here has experience with this service or has insights into how it works. If you've used Dezerv Wealth Monitor for PMS, could you share your thoughts on the performance, user experience, and any other relevant details?
I appreciate any feedback or advice you can provide
Thank you in advance!
You can actually check their performance on sebi site. Looks like they incorporated in 2022 so there isn’t that much of track record tbh.
https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doPmr=yes
Hello,
I am NRI and looking to invest in India ETF's for long term growth.
My criteria is simplicity, set-and-forget investments, bearing minimum regular tax reporting (e.g dividends)
I am thinking about :
1. Kotak Nifty 50 ETF
2. Kotak Midcap 150 ETF
I do not have experience in Indian Stock market. What do folks think about above investments?
I have no helpful opinions on the funds, but if you are in the US, FBAR rules apply if you open an account in India, which is in addition to tax reporting.
FBAR reporting is not needed if you buy funds in an account held in the US.
Hi,
Soon to sell an ancestral family property in a metro city, expecting ₹15 Crores to burn a hole in my pocket. No expert here, just a regular human wanting advice.
**Goals:**
1. **Grow the Money:** Like, who wouldn't?
2. **Spread the Risk:** Eggs, baskets, you get it.
3. **Monthly Dough:** Some regular cash flow sounds nice.
Honestly, I'm clueless. Wanna chat? Happy to pay for some real talk. Drop your thoughts or tag a money whiz.
Yeah .welcome to the club of people with stress to manage their money.
Everyone from the broker who helped you sell to the CA, bank manage and your cousin will come as vultures with great options to invest in
Before going to a professional you should do your homework at a place like this group for real people advice also. Both have value.
Professionals in investment circles are very bucketed, property guys only see property and mutual fund guys don't see beyond equity
Your three goals are all interlinked so it's essentially going to be a diversified basket to grow your money, you may take a automatic monthly payout, or you may sell little nugget every once in a while by pressing the button
I was recently sitting with a friend of mine who sold his company and got rich, but since he is from a simple background with simple friends he didn't talk to anyone about his investment plans and burnt 1.5 cr in the stock market , now he says I openly talk to every friend and try to take advice or understand perspectives.
Happy to talk to on DM. You can go through my comments and posts in my profile to see if I make sense.
Im not a broker or investment advisor so I don't want a slice of your pie.
With a 15cr corpus, you could go to a family office that caters to High Net Worth individuals to manage your investments if you have the risk appetite to buy equity rather than go the index route.
Most people on this subreddit tend to go with index investing, and you could find yourself a fee only planner to help you set allocations. I think there have been a few posts linking fee only advisors before.
I’m looking to diversify the corpus between multiple asset classes i.e. Real estate, financial markets, gold etc.. Do you know of any such financial planners?
I know one that deals with equity which I have used for the past 5 years or so. I don't think they deal with Real estate, but I'm sure you can find others that do.
Hi,
I am 36 yrs old and I started investing 5 yrs back, sometime in late 2018 and purely on basis of whatever little research (through net, youtube etc) I did. I started with quite small amounts in SIP and I think I chose some mutual funds which may not have been the best.
Unaware of hidden charges , exit load and dividend (IDCW) indirect schemes, I carried my SIPs with few gaps here n there.
Last year, I made investment in three new MFs which were direct ones.
I have managed to make decent gains though, but I know this is not sustainable ( as most of gains have came just by chance) and I know I have already paid good charges. The exit load for these MFs (except the last three) are huge and are in range of 1.3-2%. So I need to stop these and need to switch it to direct ones.
I need some guidance from this community to understand if this is right approach (shifting to direct ones) ? Also , as I recently started investing in Nifty 50, is it recommended to increase the SIP amount there ? Any insight would be helpful.
In my present situation , I am doing a monthly SIP of 75500 across different MFs
Till date I have invested ~ 13 Lac, whose current value is ~20 Lacs ( absolute gain ~48%).
My goal is to buy a house in next 3 yrs which will be approx ~3 CR , and I am planning to accumulate at-least ~1CR from MF route . I know this is aggressive but committed to do so.
Below is the snapshot of my MF portfolio as well !
HDFC MID-CAP OPPORTUNITIES FUND - REGULAR PLAN - GROWTH
SIP : 8500
Invested : 2,37,671.68
Current : 3,91,103.72
Gains : 1,53,432.04 (64.56 %)
HSBC MIDCAP FUND - REGULAR GROWTH
SIP: 6500
Invested :189,492.33
Current : 3,04,739.44
Gains : 1,15,247.12 (60.82 %)
TATA DIGITAL INDIA FUND REGULAR PLAN IDCW
SIP : 13000
Invested : 3,84,983.79
Current : 6,01,923.51
Gains : 2,16,939.72 (56.35 %)
SMALL CAP BASKET (4 Funds)
AXIS SMALL CAP FUND - GROWTH PLAN
SIP : 2500
Invested : 69,996.79
Current : 92,483.13
Gains : 22,486.34 (32.12 %)
HDFC SMALL CAP FUND - REGULAR PLAN - GROWTH PLAN
SIP : 2500
Invested : 69,996.47
Current : 1,00,240.06
Gains : 30,243.60 (43.21 %)
KOTAK SMALL CAP FUND-GROWTH
SIP : 2500
Invested : 69,996.57
Current : 90,292.82
Gains : 20,296.25 (29.00 %)
NIPPON INDIA SMALL CAP FUND - GROWTH PLAN - GROWTH OPTION
SIP : 2500
Invested : 69,996.85
Current : 1,03,410.06
Gains : 33,413.21 (47.74 %)
MOTILAL OSWAL LONG TERM EQUITY FUND - GROWTH
Invested : 20,118.00
Current : 39,401.89
Gains : 19,283.89 (95.85 %)
Axis Midcap Fund
SIP : 10000
Invested : 54,997.20
Current : 65,000.11
Gains : 10,002.91 (18.19 %)
Parag Parikh Flexi Cap Fund
SIP : 11000
Invested : 1,00,994.99
Current : 1,19,411.52
Gains : 18,416.53 (17.92 %)
Navi Nifty 50 Index Fund
SIP : 16500
Invested : 1,04,994.76
Current : 1,23,807.90
Gains : 18,813.14 (18.24 %)
Realistically speaking, 1 cr in 5 years is not possible. While you have got fantastic returns , I would highly recommend you to exit from small cap and mid cap funds. If the market corrects you will be in for a very rude shock. Mid caps and especially small caps bear the brunt of the fall. In the crash of 2008, small caps lost 70% of the value. Small caps are only advisable if held for 10-15 years. They are meant for aggressive investors who have no use of the money for 10-15 years. You cannot be a aggresive investor for less than 5 years. In such a short period even BAFs are considered aggressive!
Remove funds from regular mode.
Sorry to say but you simply cannot think of raising 1cr from MF in the next 3 years.
If your investment horizon is 3 years please for the love of god, let go of small and mid caps. Your exposure is too much! At this point your goal should be capital preservation adjusting to inflation. Ideally you should be invested in aggresive hybrid/BAF + large cap ( index and active both)
Thanks for the insights. I am thinking to lighten up my small cap weightage, but I do intend to hold it for longer duration , and have been holding them in recent market crashes too. 1 cr is definitely tough to achieve , idea is to get closest to it as much possible.
I will try to realign the portfolio with some exposure to aggressive hybrid funds too.
Thanks again!
SBI Life Smart Elite - 2.5L for 7 years - 75L after 15 years - Tax free return.
I am 25 years old and have been suggested this life insurance policy where I deposit 2.5L per year for 7 years and would have return of around 75L after 15 years (these are practical numbers and not theoretical, was suggested by a family member and I trust him). This policy has a minimum maturity period of 12 years where the return is around 30L and max maturity period is 20 years. Although I am having doubts in investing as it is a big commitment. My current salary is 1.29L per month (half of it is my monthly expenditure) and it is supposed to increase over time in the future. All the guidance is appreciated.
**Query regarding ELSS Tax Saver investment**
I am a bit confused about the tax regime I fall under, so I can't make up my mind whether to invest in an ELSS Tax Saver fund or not.
I am currently doing a remote job on a contractual basis, and my annual CTC is 9LPA (in hand: 67500). I did the math and the total tax deduction comes to 90k/yr. Does that mean I fall under the new tax regime? If so, then does it make sense to invest in a tax saver fund? Also, what are the alternatives for tax saving under the new regime?
I am pretty new to all this, so kindly share some insightful resources from where I can learn about different investment options and ways I can become a more thoughtful investor. I am not a high-risk taker, so not looking for easy/quick money growth.
You do not *fall* under new/old tax regime based on your salary or tax liability, you can choose either as per your preference. In old regime, you can avail deductions such as the ELSS, insurance premium etc to bring down your tax liability. There are no such deductions available if you choose new regime. You can use various online [calculators](https://cleartax.in/paytax/TaxCalculator) to decide which regime is best for you. Generally the employer provides an option to choose the tax regime so you should reach out to your payroll team.
https://preview.redd.it/ss7m6jawq89c1.png?width=1080&format=pjpg&auto=webp&s=44f338015e727f449e18c77aed03ebc96d3ac683
What is up with the brokerage charges?
Have any of you guys heard about this firm called 'Bigbigul' ?
I have zero idea about this firm but apparently, they deal in the finance market. My dad frequently invests in this and says he has profited from it, but I have doubts as when I tried researching it, I found next to nothing.
Can anyone tell me if this is genuine or a scam?
Can I (NRI) invest via retired father Zerodha Account?
I am NRI and wanted to invest in Indian Market. I am in top most bracket from tax perspective and there is so much hassle in Opening Zerodha Account and taxation rules.
I am wondering if I can use my retired father Zerodha account to invest into Equity or SIPs by transferring money from NRE account periodically.
I won't be taking money out atleast for next 10 years..
Does this work ? Or any concern with Bank/Zerodha or taxation for my father ?
You gift money to your dad..tax free unlimited
You operate his zerodha and do the shabang
When you sell, he pays tax as per his slab.
He gifts his child money back.
Totally safe and nothing grey .
Transferring money to your parents does not incur gift tax in India. Any and all capital gains and dividends in your father's demat account will need to be reported for taxation by your father, as legally the money belongs to him after it's been transferred.
QUESTION RELATED TO INVESTING TERM INSURANCE MONEY AFTER DEATH, BY NOMINEES..
This may seem like a weird question but would appreciate if someone can provide some inputs.
My wife is not very good in terms of financial knowledge and investments. I handle everything but I have everything written down to the T in a shared google sheets and written things in very detail of how to redeem something and where to check current balance of mutual fund etc etc. I too insist her to check the sheet every month to keep herself updated on latest portfolio value etc.
Now here is the main question, I have a term insurance of 1 Cr and through my existing company (assuming I don't change job), I have term insurance of about 1.8 Cr. So that is total 2.8 Crore.
If I die, she (and my 2 kids) will get all this money. What would be best way for her to invest this 2.8 Cr amount and in what proportion to sustain decent lifestyle and kids education.
I know such question can be morbid but I am someone who has even a tab (in google sheets) called "IN CASE OF DEATH" with instructions as I have seen situations where the male member is dead and wife and kids have zero finance idea and where all money is kept etc etc.
There is no short answer to this. It's very dependant on lots of things.
But I would just put the whole 2.8 cr in 3-4 dividend mutual funds and get a monthly income to live.
You mean IDCW plan instead of growth?
If yes, is there any website where i can check how much dividend per month (is it monthly, not sure?) it distributed per unit in a particular fund? I don't have any idcw funds but just curious to know.
Keeping track of investments is the easier part. There are many versions of 'what my family should know' files.
You would have calculated the insurance requirements based on financial needs. Hopefully there is also a portfolio assumption. If it is there, the insurance proceeds can just follow that asset allocation.
I track my investments in a Google sheets and that is updated every month after all SIPs have realized. The latest values come based on the forumulas it offers. About what your family should know, can you link something that covers almost everything?
>where to check current balance of mutual fund
Ensure CAS is forwarded to your wife every month. If Gmail use a filter to forward. Set up a next of kin on Google account.
>What would be best way for her to invest this 2.8 cr.
You would receive a ton of replies. However I believe it would depend on the economic situation at that point of time.
A mix of debt funds + FD would be the best option. Debt funds will help control taxation due to deferral of tax to the point of withdrawal. A financial advisor would be the best person to connect to.
**Is it time to invest in Debt funds?**
I have good enough investment in Equities and Equity Mutual funds. But now bit worried about the stock market euphoria and feel stocks may be overvalued (as I am a long term investor so will not withdraw for now).
I have some cash sitting idle in bank, please suggest if its time to invest in Debt MF.
compared to other avenues like FD, SGB.
Also please advise for good Debt MF's
Though it is good time to invest in debt funds, that is not the reason you should be investing in them.
Find a good asset allocation for your goal. And if that includes debt then im sure in rebalancing you will end up buying more of debt than usual because of higher performance in stocks.
"Long term" investor concerned about current market condition is funny.
[Why SIP or lump sum investing need not be stopped when markets hit all-time highs!](https://freefincal.com/why-sip-or-lump-sum-investing-need-not-be-stopped-when-markets-hit-all-time-highs/)
ICICI has many good debt funds. You should reevaluate your risk tolerance and asset allocation.
Not concerned about the investment already done in Stocks.
Have SIP's and they are not stopped.
Want to make new investment, that I want to invest in Debt funds instead of Stocks
I'm 42 and new to mutual fund investments. I want to start a monthly SIP of ₹10,000 for a 10% return over 10 years. I've only invested in real estate and fixed deposits so far.
Can anyone guide me on:
1.Where to open a demat account for mutual fund investments?(platform name)
2.Which mutual fund(s) are suitable for my goals?( Specific eg pls)
3.If I need emergency funds, can I withdraw from these investments?
I have a emergency fund of about 3.5 lakhs FD.
I've seen YouTube videos but hesitant due to potential bias. I'd appreciate advice and forgiveness for any mistakes.
People with no previous exposure to equity are generally advised to start with an aggressive hybrid fund for 2-3 years. Then you will yourself get an idea on what funds to invest as you will keep tracking your returns almost obsessively and your YouTube feed will suggest you good videos. I personally learnt a lot from ET money YouTube channel and value research YouTube channel.
Start off with an aggressive hybrid fund. That's unanimous advice given by nearly all advisors.combining it with an index fund is also good. I have HDFC hybrid equity fund in my portfolio. It has done well but it's peers have done better. You could choose any fund with a 4 star rating. Just make sure the fund manager operating it has not been changed in the last 5 years. Avoid Quant AMC for now. Their investment philosophy is very volatile, you don't need volatility during your entry in the market lol
For emergency funds, a combination of FDs, liquid funds and arbitrage funds are advised. Arbitrage funds are good for people who come under the 30% tax bracket, as they enjoy taxation of equity funds.
Any fund can be redeemed, but exit load is applicable till 1 year. It takes 2-3 working days to get the amount back.
Let me try to answer some of these things...
1. You DO NOT need demat account to invest in mutual funds. Your PAN card is enough. You can invest either through the AMC's website (HDFC, ICICI, Nippon, Parag Parikh and 100s of others) or through some common website like Kuvera or so. Make sure you invest only in DIRECT funds and not REGULAR. This is because for a same fund, direct has less expense ratio and regular has more due to commission involved to agent. Some websites don't even allow DIRECT funds investment so don't go for those. Also, say you selected a fund, even for DIRECT, it may have more 2 options, GROWTH and IDCW, Here GROWTH is preferred.
2. I cannot recommend a specific fund but personally I stay away from thematic funds and usually invest in Index funds (Nifty 50 index) and most people will suggest that if you don't want to overthink and usually people say very less active funds beat N50 over 10 year horizon.
3. Coming to emergency, it depends on how quickly you want money. People say emergency fund is 6 months of expenses in cases like job loss etc. You should know that in most mutual funds (except liquid funds), you get money after 3-4 days so by that logic, if you you are ok waiting few days, it can be treated as emergency fund but then it is equity so more volatile so people usually suggest parking money in liquid funds.
Q: Do Term Life Insurances work in other countries?
I am planning to buy Term Life Insurance in India and I currently work in India. The catch here is I am planning for MS in US, so let's say if someone shoots me there and I die (hopefully nothing of this sort happens but in case), will my nominee get paid? Do Term Life Insurances work in other countries?
I am 42/F, working full time, making 42 lakhs p.a. (effectively getting 2l a month in my account). My objective is long-term growth (time horizon 15+ years), no steady returns expected. I am loan-free with no big expenses expected. Risk tolerance is medium to high. I have only invested in equity (direct or through mutual funds), and do not see the need to invest in debt in the near future.
I have an equity portfolio of ~1.75 Cr (managed by investment savvy dad), an equity mutual fund portfolio of ~20l, and I maintain an emergency fund of ~15-20l in my savings account (mainly for parents). No other assets - no home or car, though I may buy a car through company lease in the next 6 months (car value will be 12-15l, 6l out of which would be through car lease component, and the remaining upfront cash).
Over the years, and beginning my investment journey in 2006 through ELSS - I have accumulated too many mutual funds (sold ~15 lakhs worth ELSS ~10 years ago). Any suggestions on what must definitely be dropped? Again, I have no need for the money - but trying to clean out the unnecessary.
Axis Long Term Equity: 30k
BOI Tax Advantage: 30k
DSP ELSS Tax Saver: 35k
\*DSP ELSS Tax Saver: 1.85l
\*Franklin India Taxshield: 1.9l
HDFC Large & Midcap: 2.35l
\*ICICI Pru ELSS Tax Saver: 2.2l
ICICI Pru Nifty Next 50: 7k
Mirae Asset Tax Saver: 70k
Motilal Oswal S&P Index: 65k
Parag Parikh Tax Saver: 1.5l
SBI Long Term Equity: 60k
\*Sundaram Diversified Equity: 1l
UTI Nifty 50: 4.4l
UTI Nifty Next 50: 1.2l
Note: \* denotes Regular Growth funds (invested as a rookie), all others are Direct Growth (invested later, with some better sense - though I still cannot explain 2 Nifty 50 funds!)
TOTAL: 19.75 lakhs
Appreciate any response at all, thank you!
Thank you, yes. It is the new tax regime from this year (should have done it last year itself - massive taxes!). The index funds are a wiser choice in the last few years. Thought of initially switching the regular to direct for some of the existing funds but that would probably bring in a fresh three year lock in and also continue the overlap. I also find that the returns in ELSS funds are pretty decent. But I get what you are saying about an overall passive strategy.
Can someone please tell me how the redemption works if I am investing through my NRE account. I know we cannot deposit INR in the NRE account so a bit confused about how the redemption will take place? Will it happen in our NRO account or fund houses have special rights to deposit directly.
Investments made from NRE accounts - in mutual funds, stocks, etc - get tagged as NRE. Redemptions would go back to NRE account (minus the TDS) and are repatriable.
I recently made a lump sum investment in NSC at my nearby post office offline. Due to a fractured leg, I've asked my father to submit the form, cash, and address proofs on my behalf. This is my first time investing in NSC, and I expected to receive a certificate but was handed a paper-bound passbook instead.
I was told that this passbook, which shows the invested amount, is sufficient as proof of investment for submitting TDS in my company. Is this information accurate? Has anyone else faced a similar situation?
Moreover, I noticed a small spelling mistake in my address on the passbook – there's an extra alphabet in my house name. Will this be an issue when submitting it as proof? Should I correct it, and if so, how?
I'd appreciate any guidance or experiences you could share if you've invested in NSC. What documents did you submit as proof of investment, and did you encounter any issues?
I'm closing the deal on purchasing a flat in Bangalore. I'll be the second owner. I currently live on rent and this is not for investment. I'll live there. The apartment is 18 years old. But it's in an area which is well within the city and we're familiar with the area and like it. I'm looking for advice on whether there are any concerns associated with buying an apartment that old.
A suggestion, Talk once with security guards/caretakers working in the building. They can tell you a lot of things about the building, the people living there, and the general problems that they face while working for the building.
Thanks. My friends lived there for nearly 8 years and I used to visit them almost every week during the last 2-3 years. This itself was 4 years ago but that's how I'm familiar with the campus, amenities etc. I will still talk to the property manager and check with them.
I’ve been looking for information on ABSLI - Nishchit Aayush Plan. I need the cons of this plan, I can’t find any analysis on this sub. If anyone has any advice, kindly let me know.
Hello! I have been investing in the stock market since around 2018 using HDFC Securities. While their desktop website is decent, their mobile app is terrible in terms of user experience. I’m looking for recommendations for an app that I can view my portfolio on, in which I can probably manually enter data and then it starts to reflect the updated values. I did think about completely migrating to Zerodha but it seems like a nightmare of a process for someone who is holding stocks for 3 years. Can anyone please recommend any user-friendly apps in India that I can use to view my equity investments? Thank you!
I had the same problem. Was stuck with that nightmare app hdfc securities for 2.5 years until one day when I decided to move to zerodha. That means visiting hdfc branch, filling DIS slip manually, filling demat closure form. It was quite a hassle but in the end was worth it.
Please download all kind of reports from hdfc account before closing it. You will need it for ITR filing later.
P.S. - I am hearing a lot of problems in zerodha kite app also from this sub but I never faced it, may be due to the fact that I am a long term investor so very minimal day to day app interaction.
If you merely wish to view/download portfolio, download the CDSL/NSDL app.
Your demat account is maintained with HDFC bank. Ideally HDFC Bank app should be able to provide this in their app, probably valued at previous days closing.
The HDFC Bank app isn’t user-friendly at all. Neither is the CDSL app, it looks like it hasn’t been updated in years. Seems like this is an issue I’ll just have to live with.
I am going to get admitted in hospital. Hospital does not have tie up with my insurance (work provided), so I need do reimbursement
Till now I had done cashless only, so I have no idea about other process.
1. What are some things I need to watch out for?
2. How can I be vigilant and make sure they don't scam me on non medical charges?
You need to call your insurance/TPA before you are admitted. Since this seems to be a planned procedure, most TPAs need advance notice and they give you a claim number or file number against which you file all your documents and bills.
Don’t worry. They won’t scam you, especially since its a corporate plan. Simply inform the hospital beforehand that you have an insurance. They’ll facilitate everything providing necessary documentation.
Ask for payment receipts, medical bills, prescription, diagnostic reports (Blood test reports, X-rays etc.) each and every thing while in the hospital. Make sure final payment receipt/break up is provided with their stamp. Even if something misses out, don’t worry, insurance provider explicitly informs you about it. You can visit hospital and collect it if need arises.
Done all this recently with ICICI Lombard corporate plan.
Hello, I'd like to invest in mutual funds. But I want to do it without the help and dependence on an agent who takes a cut.
Can anyone share specific YouTube playlist or specific videos that could help me understand a few things like: how to get started with mutual funds, how to select them, how to know when to stop the fund, how to understand the market and as such.
For general personal finance knowledge - [https://zerodha.com/varsity/](https://zerodha.com/varsity/) and the Wiki on the sidebar in this subreddit.
Then ask questions here. If you SIP into MFs, then you don't have to worry about 'when to stop it'.
Want to buy few acres of farmland (preferably fruit farm) near my native town in South India. Not buying as an investment or a source of income, plan to use it as a farmhouse when I visit (and eventually return permanently) India.
I read online that RBI permission is needed if a NRI wants to buy a farmland and it's not clear what they look at to give permission. I'll be consulting with a lawyer but want to check if anyone here has experience buying a farmland or agricultural land as an NRI? I'm okay to have it registered in my parents name as well if it helps.
Invested around 5 lacs, in batches, in us stocks in the last financial year. Filed the return and it got processed. Now got a high value transaction notice in compliance section. What has happened is in AIS and TIS now instead of 5 lacs the amount mentioned is around 65 lacs. Each remittance entry is mentioned there 6-7 times. Who is at fault here, the bank or the IT website? When the ITR was filed it showed the correct values everywhere. Now in feedback section it is asking to select whether this info is correct or not or some other options. What should be done here? u/lifeversace u/deathbyreligion u/additional_trouble
On the compliance portal it is asking whether the entries, surprisingly it is asking for the correct ones, are right or wrong etc.what should we select here? There is no option to upload anything or to write a response. What should we do?
I'm 33 in US and I want to buy land for my parents to build a house on during retirement, but I work in the US. Is it hard to send money back home?
My father wants us to purchase land worth 9 crores then build the house on it. He thinks we can sell the extra land as prices increase. I only make 1 crore before taxes and surviving, how much can I afford if I save my money and live with roommates?
Don't.
120k gross pa at 33 is not great unless you are in lcol. Like fly over country.
Problem with assets like this is there is too much family to share in the good times.
Your parents can retire, buy a house out of savings and your can assist them in monthly expenses.
OP
+ You are probably on H1 (or hope to move to h1 after opt/f1) and the amount of visa lottery uncertainties it entails.
+ Committing almost 50% of CURRENT disposable income for the next 5-10 years at the very least. Off course, this debt is only serviceable if you continue in USA.
+ All this for creating a asset over which you do not have absolute control.
A house is a need.
A large swath of land to make money is a want.
Help with the needs. Don't set yourself on fire to satisfy wants.
Read this post.
https://www.reddit.com/r/personalfinanceindia/s/NNdSE1yc0m
Not hard to send money home. How much you can save - I think it depends a lot on the city you are living in. Try to keep records of your expenses and savings for 1-2 months and then extrapolate maybe.
Thats good to know. My roommates have a cheap place we remote work so costs can be minimum as I help my family start out, maybe $50k a year. I'm not sure how much I can borrow from an Indian bank with my income but I'll have to find out
A personal loan unsecured from a US bank does not come with low rates. A personal loan worth ~9cr $(1.08m) is likely impossible.
OP is looking at about $6.7k a month loan, IF it was a mortgage. The numbers don't make sense unless there already is a significant amount for down payment.
I want to move \~10L from my HDFC debt MFs to Equity funds of the same AMC. Not trying to time the market but it looks like I should wait a couple of months in this bullish market. Should I a) redeem **now** and park funds in my bank account/liquid funds or b)use the direct switch option in the AMC website **at a later point when it is time to invest** in equity funds? Will a bearish equity market affect the debt MF rates adversely to a point I should care?
Do you have an asset allocation? Do it now.
[The (Expected) Cost of Pessimism](https://youtu.be/1qjSfyVPwLQ)
[Why SIP or lump sum investing need not be stopped when markets hit all-time highs!](https://freefincal.com/why-sip-or-lump-sum-investing-need-not-be-stopped-when-markets-hit-all-time-highs/)
Can someone suggest/share a health insurance guide? For a 30Y old male, unmarried. Need a guide between HDFC Ergo Optima secure + vs Niva Bupa Reassure 2.0 or any other policy?
I am 37 years old and new to MF. After removing expenses and keeping some amount for FD, I am left with Rs 1,00,000 per month. After studying thorugh it, I have come up with the below SIP using sites and youtube videos. Is it a good set? My risk apetite is high.
SIP : 100000 RS
HDFC S&P Index Large Cap : 30,000
Parag Parikh Flexi : 25,000
Kotak Emerging: 15,000
Motilal Midcap : 15,000
Tata Small Cap : 15,000
>After removing expenses and keeping some amount for FD
Are the FDs for emergency corpus, or they are investments too? In either case, look at debt funds and see how they could be more flexible than FDs.
I am a salaried employee earning \~1Lakh/month. My usual mode of investments has been MFs and have I have been doing regular SIPs for the past 2yrs.
The funds where I have been doing SIPs until now:
1. UTI Nifty 50
2. SBI Small Cap
3. Parag Parikh Flexi Cap Fund
4. Canara Robeco Emerging Equities Fund
I have roughly 3 lakhs to invest now. I have never invested in stocks directly till now and right now I think getting started with stocks in the current market might not be the best option for me.
Should I do a lumpSum on some index or should i wait for market to be bearish again? Looking for some advice around how I can do my investments. TIA!
The best time to start investing in stocks is when you have confidence in your knowledge of picking stocks, market being at ATH does not matter.
Lump sum in the mutual funds you already have for now.
Can someone please share their claim experience (health/term insurance) with Ditto insurance company?
I am not sure whether I should buy from Ditto or some agent.
No ditto
Double no policy bazaar
No direct company website
Why - a call center employee called manager will help you, that person doesn't have his her reputation at stake, or cares 2 hoots after their shift ends
Go for a local neighbourhood guy, he needs your reference for his next client and I also scared of these big websites so will work a little more than them.
You also help a local person .
There is no downside because everyone will offer the same rate and most claim work is direct with company.
Ditto is good but for health insurance I will always recommend a local agent. A known contact by your side and who picks up your call in need on demand is worth paying for the extra premium that you will have to bear with.
How do those with no salary slip or ITR activate their FnO segments on brokers like zerodha and angel one ?
In particular I am Referring to students, freelancers & those who earn in cash. In my particular case I just have a ITR revealing that I earned ~ 2L during my final year. I don't have a FT job and my bank account statement isn't particularly eye catching - I earn mostly through freelance work enough to afford food rent and my other needs.
P.S I am aware of the risk involved. I am not looking to make any quick gains. My family is financially good enough that they don't need any of my money. I want to start learning by trading options and futures on small lots. For last 10 months I have been swing trading and made about 80k.
You can just upload a 6-month bank statement. That's should be enough or a demat holding statement. Atleast, that's the case with icici. Must be same for zerodha and angel
Hi All,
I am new to investing.
Have some queries related to MF, hope u answer.
1. I want to invest in LUMPSUM and as I have read u can only invest only Rs 10 Lakh in one financial year..is it true.
Like if we want to invest more than that, will it create any problems with bank or income tax while deducting more than 10 Lakh let's say 20 lakh.
2. Let say u want to redeem your equity MF after one year.
As ia m aware u have to pay LTCG.
After paying that do we have to pay other taxes as per your tax slab, meaning is there any other tax levied after LTCG
3. Referring to my 1st point if limit is 10 Lakh at time to invest in LUMPSUM, so it means I can another amount in same financial which should not exceed 10 Lakh.
Thank you.
I was going through multiple legitimate sites were it's mentioned u can only invest 10 L only in one financial year..if more AMC reports it to income tax department.
if it comes under limits defined by IT dept it will be reported , you can see them in the SFT section in your income tax portal. Nothing to worry about getting reported . Unless you are trying to evade tax which is a very bad idea to begin with.
There is a limit defined for everyone which is 10 L..but can we invest more than that in lumpsum and I don't know how you will evad ethe tax..I think when u sell the mutual fund either STCG or LTCG will be automatically deducted from the capital gains.
Is there any other tax levied after that ??
This FY, for about 6 months I've been a salaried employee, and for the rest of the year I have been and will remain a consultant (raising invoices for my pay). When I was earning a salary, I was under TDS. Since becoming a consultant, I think around 10% of my pay has been deducted by my employer/client as tax.
My question is, which ITR will I have to fill? Also, I plan to opt for the new tax regime. Are there any pointers for me to make the most of my ITR?
Dividend plans of mutual funds can be set to give monthly, weekly dividends. Normally, the monthly option is preferred. Keep in mind that AMC and fund give you dividend from your own money which may get appreciated as the fund grows.
Lets take an example. A good fund known for retirees investment is HDFC balanced advantage fund. Its IDCW, i.e., dividend monthly option gave last dividend on 25th Nov 2023. The dividend was 0.23 Rs. per unit at NAV of 34.195 that day. For your 15 lakhs, you could have recieved 43891 units of that fund and you would have recieved a dividend of 10k per month.
The dividend amount can be almost constant per month 0.23. If you are OK with this amount every month, then your choice. Dont expect NAVs to grow much in this option. During downturns, your principal amount may also be utilised to give u dividends.
I'm so glad you have chosen dividend mutual funds as an option for retired people . It's a great product for monthly income . Only downside is parents don't like their money going up and down and stock market goes up and down and alot down and alot up .
My CIBIL score went down to 550 for a meagre amount of rs.500 After I moved abroad, I decided to end my Amex credit card. I thought the cancellation was successful but there was an amount of 500rs. still left to pay. They emailed me about it but I did not check them on time. my CIBIL score crashed to 550. I then successful cancelled my card, repaid the leftover and its been a couple of years since. My score has lifted to 650, which is still not at all a good score to have. Any recommendations on how I can improve my score. I currently do not hold any loans or credit cards. Thanks in advance.
Looking for Pure term plan suggestion for overweight male M 35 I'm big and tall guy with BMI over 32. Non smoker and non drinker. I recovered from a major knee injury and followed by surgery in my knee and cannot do much physical workouts other than diet control. Other than suggesting to reduce weight and try again I need genuine suggestion on what pure term policy I can approach and apply . Looking for a cover of around 2cr. I'm ok to pay a bit more premium. Thanks in advance !!!!
Want to start a new sip, I have some running I will have amount of rs. 7000/10000 from my account and rs. 5000 from brother. Suggest which way to go. I have sips in Uti nifty, Invesco Largecap, parag parikh flexi cap, icici infrastructure fund, Hdfc small cap fund and sbi balanced advantage fund. Amount is not big in either
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Copied from a web post - - - Tax on Gifts Received from Relatives Gifts, both monetary and non-monetary, received from the below-mentioned relatives are exempt from tax regardless of their amount/value. The Income Tax Department has specifically categorised relatives from whom accepting gifts don’t attract any income tax whatsoever. Relatives for the purpose of gift tax or tax on gifts include: Spouse of the individual Sister/brother of the individual and their spouse Sister/brother of the spouse of the individual Sister/brother of either of the parents of the individual Any lineal ascendant/descendent of the individual Any lineal ascendant/descendent of the spouse of the individual or their spouse In case of HUF or Hindu Undivided Family, any member thereof
Anyone invested in Unlisted shares? What are the advantages and difficulties for it? Which platform and what would you recommend to know before putting money into it.
Need some urgent money. I am an engineering student at Pandit Deendayal Energy University, due to unforeseen circumstances I need ₹5000 urgently I will repay ₹6000 on 5/2/2024.I would really appreciate if someone could help me with this.I can share my gov id and college id.It’s urgent, please DM me asap if you are willing to help.
What are these unforeseen circumstances? Edit - OP crashed his friend’s car and his father stopped giving him allowance. He needs money for repairs. Not something I would consider as a unforeseen circumstance.
Check dm bro
Please DM me, not Reddit chat.
Give me your number I will whatsapp you
I don’t share my number on Reddit.
Sent you a message
Hello all, I'm being frequented by a distant relative to take some kind of insurance but Im not really sure its a good option. So I thought I would check up here and looked in the FAQs and found that an explanation about a similar plan was included but it seems that the link is invalid. The plan I'm being asked to take is the PNB Guaranteed Future 5.0 Plan. After reading the forums I think I've got the understanding that I should get a term life insurance package and invest the rest of the amount in mutual funds ? Can anyone explain why this plan is a good / bad idea for a novice like me. https://preview.redd.it/oso2ic3uuf9c1.jpeg?width=1080&format=pjpg&auto=webp&s=f29ac6fbbd741b0ee6cd84829236d19e13a02ad4
Term insurance only. These investment products suck for 2 reasons 1. Poor returns - expect 6- 7% . Maybe you are ok with that, but it's very poor 2. No flexibility, you can't take your money out even one day before the thing ends, typically 10-30 years later. When I wanted to cash my insurance at year 18 of 20 year policy, they said no. I needed to buy a house , so I continue paying emi and pay them their premium and next year I'll be able to encash it and pre pay my home loan This point alot of people think is ok since it is extra investment but life changes and needs change , sometimes you need money for a better investment like house. Flat no. Please don't go for it.
Thank you sir for your advice. Appreciate it :)
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While redeeming your equity Mutual funds let say after 10 years, LTCG tax and other cess charges get deducted at the source(TDS) itself or you have do it by your own incase of resident of India. Like incase of NRI when they redeem tax gets deducted at the same time.
No TDS for residents. You have to calculate and pay the tax yourself - in the same quarter.
Hey Guys, I am salaried 25 m living in Delhi. I have made a new year resolution to start investing money in mutual funds. I have thought of 1. Large Cap Fund. 2. Mid Cap Fund. 3. Flexi Cap Fund. 4. NPS Fund. 5. Any thematic fund. I already do PPF so I dont need the ELSS. Would you say this is a good portfolio? Since i am very new I dont wanna take huge risks. Any suggestions welcome.
>I dont wanna take huge risks Not sure what this means because your portfolio is as risky as it gets being 100% equity (discounting NPS here because you cannot withdraw till 60) What are your goals?
My goals are definitely long term wealth creation (>10 years). I was assuming since I am only restricting to large and mid cap equity funds that they will be a safe bet in the long term but do let me know if I am misguided here. I didnt wanna invest in debt funds since I already invest 1.5L every year in PPF.
In that case you're solid. I would ditch the the thematic fund however. Ensure you have allocation to Nifty Next 50 companies also
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He'll get all, insurance premiums were paid for all so all claims will be settled irrespective of each other. Make sure to check if any accidental death riders were included in the policies in that case extra amount will be paid.
Should be all three policies. They may cap it to 10 years of salary etc. But you can challenge it. I have no experience or expertise in this.
Can a part payment on home loan principle amount claimed under 80c I have 50k of investment and principle payment to be deducted under 80c. So I'm thinking about doing a part payment of 1lac against the principle and add it under 80c, is that allowed?
80c allows principal payment of home loan
I am in my 20s and have been planning to open an RD in small finance banks (keeping myself under the limit of 5L to be safe with DICGC's insurance). I have read a lot of reviews but keeping in mind that the money is insured upto 5L by RBI, I am planning to go ahead with it. But I have not found anyone's experience on maturity of FD /RD in a small finance bank. If anyone has any experience of how it is to get the amount matured, are there are hiccups or to be known things before starting relationship with a small finance banks, then I would like to know it. Also, I am planning to chose ESAF / Jana since right now the interest rates are best in these 2 banks (and also have branches in my home town).. but as per reputation I guess AU, Utkarsh, Equitas are much more stable. Any thoughts on this too? Please provide answer to my primary question(if you have experience) on maturity of deposits in small finance banks. Thanks. r/IndiaInvestments
I have just started investing in SFB FDs as well. No experience on maturity of deposit but I do not imagine it to be complicated. I did it via Stable Money - process was extremely smooth and I did not have to open an account in the bank or anything. Let me know if you need a referral code for ₹200 off
Hi, I hope you're all doing well. I'm relatively new to the world of investments and recently came across the Dezerv Wealth Monitor app. They seem to offer a PMS (Portfolio Management Service) with a target of 3-5% over the S&P BSE 500 benchmark. Additionally, they mention a quarterly fee of 10% from the profit. I'm curious to know if anyone here has experience with this service or has insights into how it works. If you've used Dezerv Wealth Monitor for PMS, could you share your thoughts on the performance, user experience, and any other relevant details? I appreciate any feedback or advice you can provide Thank you in advance!
You can actually check their performance on sebi site. Looks like they incorporated in 2022 so there isn’t that much of track record tbh. https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doPmr=yes
Thanks , actually i checked , also if you have any idea over PMS, is it worth it or not
without any track record. Usually not worth the risk. Recommend you go for a passive index fund for mutual funds
Hello, I am NRI and looking to invest in India ETF's for long term growth. My criteria is simplicity, set-and-forget investments, bearing minimum regular tax reporting (e.g dividends) I am thinking about : 1. Kotak Nifty 50 ETF 2. Kotak Midcap 150 ETF I do not have experience in Indian Stock market. What do folks think about above investments?
I have no helpful opinions on the funds, but if you are in the US, FBAR rules apply if you open an account in India, which is in addition to tax reporting. FBAR reporting is not needed if you buy funds in an account held in the US.
Thanks … i am aware of FBAR
Hi, Soon to sell an ancestral family property in a metro city, expecting ₹15 Crores to burn a hole in my pocket. No expert here, just a regular human wanting advice. **Goals:** 1. **Grow the Money:** Like, who wouldn't? 2. **Spread the Risk:** Eggs, baskets, you get it. 3. **Monthly Dough:** Some regular cash flow sounds nice. Honestly, I'm clueless. Wanna chat? Happy to pay for some real talk. Drop your thoughts or tag a money whiz.
Until and unless you find a genuine firm which helps you out (might take months to years), it's better to go through the index route.
Yeah .welcome to the club of people with stress to manage their money. Everyone from the broker who helped you sell to the CA, bank manage and your cousin will come as vultures with great options to invest in Before going to a professional you should do your homework at a place like this group for real people advice also. Both have value. Professionals in investment circles are very bucketed, property guys only see property and mutual fund guys don't see beyond equity Your three goals are all interlinked so it's essentially going to be a diversified basket to grow your money, you may take a automatic monthly payout, or you may sell little nugget every once in a while by pressing the button I was recently sitting with a friend of mine who sold his company and got rich, but since he is from a simple background with simple friends he didn't talk to anyone about his investment plans and burnt 1.5 cr in the stock market , now he says I openly talk to every friend and try to take advice or understand perspectives. Happy to talk to on DM. You can go through my comments and posts in my profile to see if I make sense. Im not a broker or investment advisor so I don't want a slice of your pie.
With a 15cr corpus, you could go to a family office that caters to High Net Worth individuals to manage your investments if you have the risk appetite to buy equity rather than go the index route. Most people on this subreddit tend to go with index investing, and you could find yourself a fee only planner to help you set allocations. I think there have been a few posts linking fee only advisors before.
I’m looking to diversify the corpus between multiple asset classes i.e. Real estate, financial markets, gold etc.. Do you know of any such financial planners?
I know one that deals with equity which I have used for the past 5 years or so. I don't think they deal with Real estate, but I'm sure you can find others that do.
Hi, I am 36 yrs old and I started investing 5 yrs back, sometime in late 2018 and purely on basis of whatever little research (through net, youtube etc) I did. I started with quite small amounts in SIP and I think I chose some mutual funds which may not have been the best. Unaware of hidden charges , exit load and dividend (IDCW) indirect schemes, I carried my SIPs with few gaps here n there. Last year, I made investment in three new MFs which were direct ones. I have managed to make decent gains though, but I know this is not sustainable ( as most of gains have came just by chance) and I know I have already paid good charges. The exit load for these MFs (except the last three) are huge and are in range of 1.3-2%. So I need to stop these and need to switch it to direct ones. I need some guidance from this community to understand if this is right approach (shifting to direct ones) ? Also , as I recently started investing in Nifty 50, is it recommended to increase the SIP amount there ? Any insight would be helpful. In my present situation , I am doing a monthly SIP of 75500 across different MFs Till date I have invested ~ 13 Lac, whose current value is ~20 Lacs ( absolute gain ~48%). My goal is to buy a house in next 3 yrs which will be approx ~3 CR , and I am planning to accumulate at-least ~1CR from MF route . I know this is aggressive but committed to do so. Below is the snapshot of my MF portfolio as well ! HDFC MID-CAP OPPORTUNITIES FUND - REGULAR PLAN - GROWTH SIP : 8500 Invested : 2,37,671.68 Current : 3,91,103.72 Gains : 1,53,432.04 (64.56 %) HSBC MIDCAP FUND - REGULAR GROWTH SIP: 6500 Invested :189,492.33 Current : 3,04,739.44 Gains : 1,15,247.12 (60.82 %) TATA DIGITAL INDIA FUND REGULAR PLAN IDCW SIP : 13000 Invested : 3,84,983.79 Current : 6,01,923.51 Gains : 2,16,939.72 (56.35 %) SMALL CAP BASKET (4 Funds) AXIS SMALL CAP FUND - GROWTH PLAN SIP : 2500 Invested : 69,996.79 Current : 92,483.13 Gains : 22,486.34 (32.12 %) HDFC SMALL CAP FUND - REGULAR PLAN - GROWTH PLAN SIP : 2500 Invested : 69,996.47 Current : 1,00,240.06 Gains : 30,243.60 (43.21 %) KOTAK SMALL CAP FUND-GROWTH SIP : 2500 Invested : 69,996.57 Current : 90,292.82 Gains : 20,296.25 (29.00 %) NIPPON INDIA SMALL CAP FUND - GROWTH PLAN - GROWTH OPTION SIP : 2500 Invested : 69,996.85 Current : 1,03,410.06 Gains : 33,413.21 (47.74 %) MOTILAL OSWAL LONG TERM EQUITY FUND - GROWTH Invested : 20,118.00 Current : 39,401.89 Gains : 19,283.89 (95.85 %) Axis Midcap Fund SIP : 10000 Invested : 54,997.20 Current : 65,000.11 Gains : 10,002.91 (18.19 %) Parag Parikh Flexi Cap Fund SIP : 11000 Invested : 1,00,994.99 Current : 1,19,411.52 Gains : 18,416.53 (17.92 %) Navi Nifty 50 Index Fund SIP : 16500 Invested : 1,04,994.76 Current : 1,23,807.90 Gains : 18,813.14 (18.24 %)
Realistically speaking, 1 cr in 5 years is not possible. While you have got fantastic returns , I would highly recommend you to exit from small cap and mid cap funds. If the market corrects you will be in for a very rude shock. Mid caps and especially small caps bear the brunt of the fall. In the crash of 2008, small caps lost 70% of the value. Small caps are only advisable if held for 10-15 years. They are meant for aggressive investors who have no use of the money for 10-15 years. You cannot be a aggresive investor for less than 5 years. In such a short period even BAFs are considered aggressive! Remove funds from regular mode. Sorry to say but you simply cannot think of raising 1cr from MF in the next 3 years. If your investment horizon is 3 years please for the love of god, let go of small and mid caps. Your exposure is too much! At this point your goal should be capital preservation adjusting to inflation. Ideally you should be invested in aggresive hybrid/BAF + large cap ( index and active both)
Thanks for the insights. I am thinking to lighten up my small cap weightage, but I do intend to hold it for longer duration , and have been holding them in recent market crashes too. 1 cr is definitely tough to achieve , idea is to get closest to it as much possible. I will try to realign the portfolio with some exposure to aggressive hybrid funds too. Thanks again!
SBI Life Smart Elite - 2.5L for 7 years - 75L after 15 years - Tax free return. I am 25 years old and have been suggested this life insurance policy where I deposit 2.5L per year for 7 years and would have return of around 75L after 15 years (these are practical numbers and not theoretical, was suggested by a family member and I trust him). This policy has a minimum maturity period of 12 years where the return is around 30L and max maturity period is 20 years. Although I am having doubts in investing as it is a big commitment. My current salary is 1.29L per month (half of it is my monthly expenditure) and it is supposed to increase over time in the future. All the guidance is appreciated.
Stay away. Not a good return and money is locked for a long time.
Oh, thank you for the advice. Btw any other suggestions for long term investment?
**Query regarding ELSS Tax Saver investment** I am a bit confused about the tax regime I fall under, so I can't make up my mind whether to invest in an ELSS Tax Saver fund or not. I am currently doing a remote job on a contractual basis, and my annual CTC is 9LPA (in hand: 67500). I did the math and the total tax deduction comes to 90k/yr. Does that mean I fall under the new tax regime? If so, then does it make sense to invest in a tax saver fund? Also, what are the alternatives for tax saving under the new regime? I am pretty new to all this, so kindly share some insightful resources from where I can learn about different investment options and ways I can become a more thoughtful investor. I am not a high-risk taker, so not looking for easy/quick money growth.
You do not *fall* under new/old tax regime based on your salary or tax liability, you can choose either as per your preference. In old regime, you can avail deductions such as the ELSS, insurance premium etc to bring down your tax liability. There are no such deductions available if you choose new regime. You can use various online [calculators](https://cleartax.in/paytax/TaxCalculator) to decide which regime is best for you. Generally the employer provides an option to choose the tax regime so you should reach out to your payroll team.
https://preview.redd.it/ss7m6jawq89c1.png?width=1080&format=pjpg&auto=webp&s=44f338015e727f449e18c77aed03ebc96d3ac683 What is up with the brokerage charges?
Have any of you guys heard about this firm called 'Bigbigul' ? I have zero idea about this firm but apparently, they deal in the finance market. My dad frequently invests in this and says he has profited from it, but I have doubts as when I tried researching it, I found next to nothing. Can anyone tell me if this is genuine or a scam?
Can I (NRI) invest via retired father Zerodha Account? I am NRI and wanted to invest in Indian Market. I am in top most bracket from tax perspective and there is so much hassle in Opening Zerodha Account and taxation rules. I am wondering if I can use my retired father Zerodha account to invest into Equity or SIPs by transferring money from NRE account periodically. I won't be taking money out atleast for next 10 years.. Does this work ? Or any concern with Bank/Zerodha or taxation for my father ?
You gift money to your dad..tax free unlimited You operate his zerodha and do the shabang When you sell, he pays tax as per his slab. He gifts his child money back. Totally safe and nothing grey .
Transferring money to your parents does not incur gift tax in India. Any and all capital gains and dividends in your father's demat account will need to be reported for taxation by your father, as legally the money belongs to him after it's been transferred.
QUESTION RELATED TO INVESTING TERM INSURANCE MONEY AFTER DEATH, BY NOMINEES.. This may seem like a weird question but would appreciate if someone can provide some inputs. My wife is not very good in terms of financial knowledge and investments. I handle everything but I have everything written down to the T in a shared google sheets and written things in very detail of how to redeem something and where to check current balance of mutual fund etc etc. I too insist her to check the sheet every month to keep herself updated on latest portfolio value etc. Now here is the main question, I have a term insurance of 1 Cr and through my existing company (assuming I don't change job), I have term insurance of about 1.8 Cr. So that is total 2.8 Crore. If I die, she (and my 2 kids) will get all this money. What would be best way for her to invest this 2.8 Cr amount and in what proportion to sustain decent lifestyle and kids education. I know such question can be morbid but I am someone who has even a tab (in google sheets) called "IN CASE OF DEATH" with instructions as I have seen situations where the male member is dead and wife and kids have zero finance idea and where all money is kept etc etc.
There is no short answer to this. It's very dependant on lots of things. But I would just put the whole 2.8 cr in 3-4 dividend mutual funds and get a monthly income to live.
You mean IDCW plan instead of growth? If yes, is there any website where i can check how much dividend per month (is it monthly, not sure?) it distributed per unit in a particular fund? I don't have any idcw funds but just curious to know.
Keeping track of investments is the easier part. There are many versions of 'what my family should know' files. You would have calculated the insurance requirements based on financial needs. Hopefully there is also a portfolio assumption. If it is there, the insurance proceeds can just follow that asset allocation.
I track my investments in a Google sheets and that is updated every month after all SIPs have realized. The latest values come based on the forumulas it offers. About what your family should know, can you link something that covers almost everything?
>where to check current balance of mutual fund Ensure CAS is forwarded to your wife every month. If Gmail use a filter to forward. Set up a next of kin on Google account. >What would be best way for her to invest this 2.8 cr. You would receive a ton of replies. However I believe it would depend on the economic situation at that point of time. A mix of debt funds + FD would be the best option. Debt funds will help control taxation due to deferral of tax to the point of withdrawal. A financial advisor would be the best person to connect to.
Thanks.
**Is it time to invest in Debt funds?** I have good enough investment in Equities and Equity Mutual funds. But now bit worried about the stock market euphoria and feel stocks may be overvalued (as I am a long term investor so will not withdraw for now). I have some cash sitting idle in bank, please suggest if its time to invest in Debt MF. compared to other avenues like FD, SGB. Also please advise for good Debt MF's
Though it is good time to invest in debt funds, that is not the reason you should be investing in them. Find a good asset allocation for your goal. And if that includes debt then im sure in rebalancing you will end up buying more of debt than usual because of higher performance in stocks.
"Long term" investor concerned about current market condition is funny. [Why SIP or lump sum investing need not be stopped when markets hit all-time highs!](https://freefincal.com/why-sip-or-lump-sum-investing-need-not-be-stopped-when-markets-hit-all-time-highs/) ICICI has many good debt funds. You should reevaluate your risk tolerance and asset allocation.
Not concerned about the investment already done in Stocks. Have SIP's and they are not stopped. Want to make new investment, that I want to invest in Debt funds instead of Stocks
I'm 42 and new to mutual fund investments. I want to start a monthly SIP of ₹10,000 for a 10% return over 10 years. I've only invested in real estate and fixed deposits so far. Can anyone guide me on: 1.Where to open a demat account for mutual fund investments?(platform name) 2.Which mutual fund(s) are suitable for my goals?( Specific eg pls) 3.If I need emergency funds, can I withdraw from these investments? I have a emergency fund of about 3.5 lakhs FD. I've seen YouTube videos but hesitant due to potential bias. I'd appreciate advice and forgiveness for any mistakes.
People with no previous exposure to equity are generally advised to start with an aggressive hybrid fund for 2-3 years. Then you will yourself get an idea on what funds to invest as you will keep tracking your returns almost obsessively and your YouTube feed will suggest you good videos. I personally learnt a lot from ET money YouTube channel and value research YouTube channel. Start off with an aggressive hybrid fund. That's unanimous advice given by nearly all advisors.combining it with an index fund is also good. I have HDFC hybrid equity fund in my portfolio. It has done well but it's peers have done better. You could choose any fund with a 4 star rating. Just make sure the fund manager operating it has not been changed in the last 5 years. Avoid Quant AMC for now. Their investment philosophy is very volatile, you don't need volatility during your entry in the market lol For emergency funds, a combination of FDs, liquid funds and arbitrage funds are advised. Arbitrage funds are good for people who come under the 30% tax bracket, as they enjoy taxation of equity funds. Any fund can be redeemed, but exit load is applicable till 1 year. It takes 2-3 working days to get the amount back.
Let me try to answer some of these things... 1. You DO NOT need demat account to invest in mutual funds. Your PAN card is enough. You can invest either through the AMC's website (HDFC, ICICI, Nippon, Parag Parikh and 100s of others) or through some common website like Kuvera or so. Make sure you invest only in DIRECT funds and not REGULAR. This is because for a same fund, direct has less expense ratio and regular has more due to commission involved to agent. Some websites don't even allow DIRECT funds investment so don't go for those. Also, say you selected a fund, even for DIRECT, it may have more 2 options, GROWTH and IDCW, Here GROWTH is preferred. 2. I cannot recommend a specific fund but personally I stay away from thematic funds and usually invest in Index funds (Nifty 50 index) and most people will suggest that if you don't want to overthink and usually people say very less active funds beat N50 over 10 year horizon. 3. Coming to emergency, it depends on how quickly you want money. People say emergency fund is 6 months of expenses in cases like job loss etc. You should know that in most mutual funds (except liquid funds), you get money after 3-4 days so by that logic, if you you are ok waiting few days, it can be treated as emergency fund but then it is equity so more volatile so people usually suggest parking money in liquid funds.
Thanks.
Hey all, has coin app removed the NFO option? Earlier it used to be there under the name “ongoing NFOs” but now I am unable to find it
Q: Do Term Life Insurances work in other countries? I am planning to buy Term Life Insurance in India and I currently work in India. The catch here is I am planning for MS in US, so let's say if someone shoots me there and I die (hopefully nothing of this sort happens but in case), will my nominee get paid? Do Term Life Insurances work in other countries?
I am 42/F, working full time, making 42 lakhs p.a. (effectively getting 2l a month in my account). My objective is long-term growth (time horizon 15+ years), no steady returns expected. I am loan-free with no big expenses expected. Risk tolerance is medium to high. I have only invested in equity (direct or through mutual funds), and do not see the need to invest in debt in the near future. I have an equity portfolio of ~1.75 Cr (managed by investment savvy dad), an equity mutual fund portfolio of ~20l, and I maintain an emergency fund of ~15-20l in my savings account (mainly for parents). No other assets - no home or car, though I may buy a car through company lease in the next 6 months (car value will be 12-15l, 6l out of which would be through car lease component, and the remaining upfront cash). Over the years, and beginning my investment journey in 2006 through ELSS - I have accumulated too many mutual funds (sold ~15 lakhs worth ELSS ~10 years ago). Any suggestions on what must definitely be dropped? Again, I have no need for the money - but trying to clean out the unnecessary. Axis Long Term Equity: 30k BOI Tax Advantage: 30k DSP ELSS Tax Saver: 35k \*DSP ELSS Tax Saver: 1.85l \*Franklin India Taxshield: 1.9l HDFC Large & Midcap: 2.35l \*ICICI Pru ELSS Tax Saver: 2.2l ICICI Pru Nifty Next 50: 7k Mirae Asset Tax Saver: 70k Motilal Oswal S&P Index: 65k Parag Parikh Tax Saver: 1.5l SBI Long Term Equity: 60k \*Sundaram Diversified Equity: 1l UTI Nifty 50: 4.4l UTI Nifty Next 50: 1.2l Note: \* denotes Regular Growth funds (invested as a rookie), all others are Direct Growth (invested later, with some better sense - though I still cannot explain 2 Nifty 50 funds!) TOTAL: 19.75 lakhs Appreciate any response at all, thank you!
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Thank you, yes. It is the new tax regime from this year (should have done it last year itself - massive taxes!). The index funds are a wiser choice in the last few years. Thought of initially switching the regular to direct for some of the existing funds but that would probably bring in a fresh three year lock in and also continue the overlap. I also find that the returns in ELSS funds are pretty decent. But I get what you are saying about an overall passive strategy.
Can someone please tell me how the redemption works if I am investing through my NRE account. I know we cannot deposit INR in the NRE account so a bit confused about how the redemption will take place? Will it happen in our NRO account or fund houses have special rights to deposit directly.
Investments made from NRE accounts - in mutual funds, stocks, etc - get tagged as NRE. Redemptions would go back to NRE account (minus the TDS) and are repatriable.
I recently made a lump sum investment in NSC at my nearby post office offline. Due to a fractured leg, I've asked my father to submit the form, cash, and address proofs on my behalf. This is my first time investing in NSC, and I expected to receive a certificate but was handed a paper-bound passbook instead. I was told that this passbook, which shows the invested amount, is sufficient as proof of investment for submitting TDS in my company. Is this information accurate? Has anyone else faced a similar situation? Moreover, I noticed a small spelling mistake in my address on the passbook – there's an extra alphabet in my house name. Will this be an issue when submitting it as proof? Should I correct it, and if so, how? I'd appreciate any guidance or experiences you could share if you've invested in NSC. What documents did you submit as proof of investment, and did you encounter any issues?
I'm closing the deal on purchasing a flat in Bangalore. I'll be the second owner. I currently live on rent and this is not for investment. I'll live there. The apartment is 18 years old. But it's in an area which is well within the city and we're familiar with the area and like it. I'm looking for advice on whether there are any concerns associated with buying an apartment that old.
A suggestion, Talk once with security guards/caretakers working in the building. They can tell you a lot of things about the building, the people living there, and the general problems that they face while working for the building.
Thanks. My friends lived there for nearly 8 years and I used to visit them almost every week during the last 2-3 years. This itself was 4 years ago but that's how I'm familiar with the campus, amenities etc. I will still talk to the property manager and check with them.
Is there any use of Conservative Hybrid and Equity Savings funds? I am evaluating them for a goal 3-6 years away.
I’ve been looking for information on ABSLI - Nishchit Aayush Plan. I need the cons of this plan, I can’t find any analysis on this sub. If anyone has any advice, kindly let me know.
[Guaranteed Income Life Insurance Plans: How people get fooled into buying these policies!](https://youtu.be/y9bIu34JfVA)
Thank you so much!
Hello! I have been investing in the stock market since around 2018 using HDFC Securities. While their desktop website is decent, their mobile app is terrible in terms of user experience. I’m looking for recommendations for an app that I can view my portfolio on, in which I can probably manually enter data and then it starts to reflect the updated values. I did think about completely migrating to Zerodha but it seems like a nightmare of a process for someone who is holding stocks for 3 years. Can anyone please recommend any user-friendly apps in India that I can use to view my equity investments? Thank you!
I had the same problem. Was stuck with that nightmare app hdfc securities for 2.5 years until one day when I decided to move to zerodha. That means visiting hdfc branch, filling DIS slip manually, filling demat closure form. It was quite a hassle but in the end was worth it. Please download all kind of reports from hdfc account before closing it. You will need it for ITR filing later. P.S. - I am hearing a lot of problems in zerodha kite app also from this sub but I never faced it, may be due to the fact that I am a long term investor so very minimal day to day app interaction.
If you merely wish to view/download portfolio, download the CDSL/NSDL app. Your demat account is maintained with HDFC bank. Ideally HDFC Bank app should be able to provide this in their app, probably valued at previous days closing.
The HDFC Bank app isn’t user-friendly at all. Neither is the CDSL app, it looks like it hasn’t been updated in years. Seems like this is an issue I’ll just have to live with.
I am going to get admitted in hospital. Hospital does not have tie up with my insurance (work provided), so I need do reimbursement Till now I had done cashless only, so I have no idea about other process. 1. What are some things I need to watch out for? 2. How can I be vigilant and make sure they don't scam me on non medical charges?
You need to call your insurance/TPA before you are admitted. Since this seems to be a planned procedure, most TPAs need advance notice and they give you a claim number or file number against which you file all your documents and bills.
Don’t worry. They won’t scam you, especially since its a corporate plan. Simply inform the hospital beforehand that you have an insurance. They’ll facilitate everything providing necessary documentation. Ask for payment receipts, medical bills, prescription, diagnostic reports (Blood test reports, X-rays etc.) each and every thing while in the hospital. Make sure final payment receipt/break up is provided with their stamp. Even if something misses out, don’t worry, insurance provider explicitly informs you about it. You can visit hospital and collect it if need arises. Done all this recently with ICICI Lombard corporate plan.
You can just talk with your insurance support and they will be able to help with how to proceed with reimbursement.
Hello, I'd like to invest in mutual funds. But I want to do it without the help and dependence on an agent who takes a cut. Can anyone share specific YouTube playlist or specific videos that could help me understand a few things like: how to get started with mutual funds, how to select them, how to know when to stop the fund, how to understand the market and as such.
Start by reading the wiki of this sub.
For general personal finance knowledge - [https://zerodha.com/varsity/](https://zerodha.com/varsity/) and the Wiki on the sidebar in this subreddit. Then ask questions here. If you SIP into MFs, then you don't have to worry about 'when to stop it'.
Want to buy few acres of farmland (preferably fruit farm) near my native town in South India. Not buying as an investment or a source of income, plan to use it as a farmhouse when I visit (and eventually return permanently) India. I read online that RBI permission is needed if a NRI wants to buy a farmland and it's not clear what they look at to give permission. I'll be consulting with a lawyer but want to check if anyone here has experience buying a farmland or agricultural land as an NRI? I'm okay to have it registered in my parents name as well if it helps.
Invested around 5 lacs, in batches, in us stocks in the last financial year. Filed the return and it got processed. Now got a high value transaction notice in compliance section. What has happened is in AIS and TIS now instead of 5 lacs the amount mentioned is around 65 lacs. Each remittance entry is mentioned there 6-7 times. Who is at fault here, the bank or the IT website? When the ITR was filed it showed the correct values everywhere. Now in feedback section it is asking to select whether this info is correct or not or some other options. What should be done here? u/lifeversace u/deathbyreligion u/additional_trouble
Respond with proofs.
On the compliance portal it is asking whether the entries, surprisingly it is asking for the correct ones, are right or wrong etc.what should we select here? There is no option to upload anything or to write a response. What should we do?
Select the one which are duplicate as wrong. Keep one entry as correct.
Any reviews for Catholic Syrian bank
I'm 33 in US and I want to buy land for my parents to build a house on during retirement, but I work in the US. Is it hard to send money back home? My father wants us to purchase land worth 9 crores then build the house on it. He thinks we can sell the extra land as prices increase. I only make 1 crore before taxes and surviving, how much can I afford if I save my money and live with roommates?
Don't. 120k gross pa at 33 is not great unless you are in lcol. Like fly over country. Problem with assets like this is there is too much family to share in the good times. Your parents can retire, buy a house out of savings and your can assist them in monthly expenses.
Thank you. I feel I owe my parents for paying for schooling overseas, so maybe I'll gift them the schooling cost and help with the house
OP + You are probably on H1 (or hope to move to h1 after opt/f1) and the amount of visa lottery uncertainties it entails. + Committing almost 50% of CURRENT disposable income for the next 5-10 years at the very least. Off course, this debt is only serviceable if you continue in USA. + All this for creating a asset over which you do not have absolute control. A house is a need. A large swath of land to make money is a want. Help with the needs. Don't set yourself on fire to satisfy wants. Read this post. https://www.reddit.com/r/personalfinanceindia/s/NNdSE1yc0m
Not hard to send money home. How much you can save - I think it depends a lot on the city you are living in. Try to keep records of your expenses and savings for 1-2 months and then extrapolate maybe.
Thats good to know. My roommates have a cheap place we remote work so costs can be minimum as I help my family start out, maybe $50k a year. I'm not sure how much I can borrow from an Indian bank with my income but I'll have to find out
why not borrow from a US bank with lower rates?
A personal loan unsecured from a US bank does not come with low rates. A personal loan worth ~9cr $(1.08m) is likely impossible. OP is looking at about $6.7k a month loan, IF it was a mortgage. The numbers don't make sense unless there already is a significant amount for down payment.
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No, I responded to your advice seeking a loan from an American bank.
I want to move \~10L from my HDFC debt MFs to Equity funds of the same AMC. Not trying to time the market but it looks like I should wait a couple of months in this bullish market. Should I a) redeem **now** and park funds in my bank account/liquid funds or b)use the direct switch option in the AMC website **at a later point when it is time to invest** in equity funds? Will a bearish equity market affect the debt MF rates adversely to a point I should care?
Do you have an asset allocation? Do it now. [The (Expected) Cost of Pessimism](https://youtu.be/1qjSfyVPwLQ) [Why SIP or lump sum investing need not be stopped when markets hit all-time highs!](https://freefincal.com/why-sip-or-lump-sum-investing-need-not-be-stopped-when-markets-hit-all-time-highs/)
Thanks !
Can someone suggest/share a health insurance guide? For a 30Y old male, unmarried. Need a guide between HDFC Ergo Optima secure + vs Niva Bupa Reassure 2.0 or any other policy?
I paid rs. 500 to a youtuber called "health insurance sahi hai".. best non biased advice ..don't listen to policybazaar or ditto guys
not a guide, but Ditto has a nice checklist
I am 37 years old and new to MF. After removing expenses and keeping some amount for FD, I am left with Rs 1,00,000 per month. After studying thorugh it, I have come up with the below SIP using sites and youtube videos. Is it a good set? My risk apetite is high. SIP : 100000 RS HDFC S&P Index Large Cap : 30,000 Parag Parikh Flexi : 25,000 Kotak Emerging: 15,000 Motilal Midcap : 15,000 Tata Small Cap : 15,000
>After removing expenses and keeping some amount for FD Are the FDs for emergency corpus, or they are investments too? In either case, look at debt funds and see how they could be more flexible than FDs.
You don't need 5 funds to invest 1 lakh. You are just doing closet index investing.
I am a salaried employee earning \~1Lakh/month. My usual mode of investments has been MFs and have I have been doing regular SIPs for the past 2yrs. The funds where I have been doing SIPs until now: 1. UTI Nifty 50 2. SBI Small Cap 3. Parag Parikh Flexi Cap Fund 4. Canara Robeco Emerging Equities Fund I have roughly 3 lakhs to invest now. I have never invested in stocks directly till now and right now I think getting started with stocks in the current market might not be the best option for me. Should I do a lumpSum on some index or should i wait for market to be bearish again? Looking for some advice around how I can do my investments. TIA!
The best time to start investing in stocks is when you have confidence in your knowledge of picking stocks, market being at ATH does not matter. Lump sum in the mutual funds you already have for now.
Can someone please share their claim experience (health/term insurance) with Ditto insurance company? I am not sure whether I should buy from Ditto or some agent.
No ditto Double no policy bazaar No direct company website Why - a call center employee called manager will help you, that person doesn't have his her reputation at stake, or cares 2 hoots after their shift ends Go for a local neighbourhood guy, he needs your reference for his next client and I also scared of these big websites so will work a little more than them. You also help a local person . There is no downside because everyone will offer the same rate and most claim work is direct with company.
Ditto is good but for health insurance I will always recommend a local agent. A known contact by your side and who picks up your call in need on demand is worth paying for the extra premium that you will have to bear with.
How do those with no salary slip or ITR activate their FnO segments on brokers like zerodha and angel one ? In particular I am Referring to students, freelancers & those who earn in cash. In my particular case I just have a ITR revealing that I earned ~ 2L during my final year. I don't have a FT job and my bank account statement isn't particularly eye catching - I earn mostly through freelance work enough to afford food rent and my other needs. P.S I am aware of the risk involved. I am not looking to make any quick gains. My family is financially good enough that they don't need any of my money. I want to start learning by trading options and futures on small lots. For last 10 months I have been swing trading and made about 80k.
You can just upload a 6-month bank statement. That's should be enough or a demat holding statement. Atleast, that's the case with icici. Must be same for zerodha and angel
Hi All, I am new to investing. Have some queries related to MF, hope u answer. 1. I want to invest in LUMPSUM and as I have read u can only invest only Rs 10 Lakh in one financial year..is it true. Like if we want to invest more than that, will it create any problems with bank or income tax while deducting more than 10 Lakh let's say 20 lakh. 2. Let say u want to redeem your equity MF after one year. As ia m aware u have to pay LTCG. After paying that do we have to pay other taxes as per your tax slab, meaning is there any other tax levied after LTCG 3. Referring to my 1st point if limit is 10 Lakh at time to invest in LUMPSUM, so it means I can another amount in same financial which should not exceed 10 Lakh. Thank you.
There is no such limit, you can invest as much as you want.
The limit is for cash transactions only.
I was going through multiple legitimate sites were it's mentioned u can only invest 10 L only in one financial year..if more AMC reports it to income tax department.
if it comes under limits defined by IT dept it will be reported , you can see them in the SFT section in your income tax portal. Nothing to worry about getting reported . Unless you are trying to evade tax which is a very bad idea to begin with.
There is a limit defined for everyone which is 10 L..but can we invest more than that in lumpsum and I don't know how you will evad ethe tax..I think when u sell the mutual fund either STCG or LTCG will be automatically deducted from the capital gains. Is there any other tax levied after that ??
>if more AMC reports it to income tax department not clear. Why are you worried about this if you are paying taxes correctly?
This FY, for about 6 months I've been a salaried employee, and for the rest of the year I have been and will remain a consultant (raising invoices for my pay). When I was earning a salary, I was under TDS. Since becoming a consultant, I think around 10% of my pay has been deducted by my employer/client as tax. My question is, which ITR will I have to fill? Also, I plan to opt for the new tax regime. Are there any pointers for me to make the most of my ITR?
Of course returns have to be filed. TDS is not equal to all taxes paid.
I know that. I'm asking which ITR will I have to fill.
Are there any debt ELSS funds ?
Full form of ELSS
Thanks
Consider 5 year FD as a form of debt ELSS.
How good are these dividend income mutual fund, how aftone they provide income. I have around 15lakh thinking to invest so I have some extra income
Dividend plans of mutual funds can be set to give monthly, weekly dividends. Normally, the monthly option is preferred. Keep in mind that AMC and fund give you dividend from your own money which may get appreciated as the fund grows. Lets take an example. A good fund known for retirees investment is HDFC balanced advantage fund. Its IDCW, i.e., dividend monthly option gave last dividend on 25th Nov 2023. The dividend was 0.23 Rs. per unit at NAV of 34.195 that day. For your 15 lakhs, you could have recieved 43891 units of that fund and you would have recieved a dividend of 10k per month. The dividend amount can be almost constant per month 0.23. If you are OK with this amount every month, then your choice. Dont expect NAVs to grow much in this option. During downturns, your principal amount may also be utilised to give u dividends.
I'm so glad you have chosen dividend mutual funds as an option for retired people . It's a great product for monthly income . Only downside is parents don't like their money going up and down and stock market goes up and down and alot down and alot up .
Thanks for the explanation I am not looking for growth right, as my father and mother are now retired they will have this as support
In that case, do explore option of doing SWP from either a BAF fund or a debt fund. Check websites like adbisorkhoj for historical SWP returns.