Financial Planning Queries

Can I invest in India and avail tax benefits

I am Citizen of Australia, my wife is Permanent Resident of Australia (hold Indian Passport) and my parents are Indian Citizens. Can I get exemption in tax if I invest in India in land / mutual funds / fixed deposits on my parents or my spouse name? Also please advise me that do I need to invest in my name only?

Dec 26, 2016 by Mahesh, Australia | Financial Planning

You are supposed to file tax return in India if you have taxable income in India, either from your investments, house property or any other sources. And to avail tax benefits, the investments has to be in your name... Read More

Can you please guide me on my current financial situation

My Expenditure & Investment details - Home Loan EMI: 10500 interest rate @9.65% for 25 year From Apr - 2016, LIC: 2000 Quarterly (New Jeevan Anand For 16 Year for 1 Lakh), PLI: 220 Monthly for 1 Lakh, SIP: 600 Monthly in SBI Bluchip Fund for 20 year, SIP: 600 Monthly SBI Magnum Midcap Fund for 20 year, SIP: 500 Monthly ICICI Value Discovery Fund for 20 year, No any person is dependent on my Income, I don’t have any Mediclaim Policy, Term insurance available with my Home Loan. Can I continue my SIP or repayment my home Loan?

Dec 17, 2016 by Rajeev, | Financial Planning

Interest rate of 9.65% on your home loan is high. You should contact the housing finance company and negotiate reducing the interest rates. Recently, most of the housing finance companies in India reduced the... Read More

How do I plan my finances and achieve long term goals

I am a permanent member of your site. My name is Sunil Kumar working in Central Govt. sector and my age is 32 years, recently married, my wife is home maker and no kids. My assets are follows 1) My salary package as on date: Rs. 6 Lakhs per annum, 2) EPF balance as on date 2 Lakhs, 3) Emergency fund I kept in SBI as OD against FD worth Rs. 1 Lakh 4) Term policy worth Rs. 75 Lakhs (Kotak - 25 Lakhs, Max life - 50 Lakhs) out of which I have paid annual premium of Rs. 8,500. Policy tenure up to 60 years. 5) Housing loan in HDFC for Rs. 20 Lakhs and paying monthly EMI as Rs. 20,000. 6) Investing MF in SIP mode (Monthly Rs. 2000) for tax benefit in SBI Tax Gain Scheme only. Still I don't have any financial planning but now I am aware of these things and financial goals are as follows 1) Retirement planning: my expenses as on today is Rs. 20,000 and I am going to retire in 60 years of age 2) Kids Marriage: After 20 years I expected to do marriage for my kids and need 10 laKhs as on today exp 3) Kids Education 8 lac as on today exp 4) After 3 years I need 300,000 for abroad tour. I can invest Rs. 15,000 pm in moderate risk. Can I fulfill my goals else how much amount I need to save to complete my goals. I can increase this SIP every year 10% Please suggest?

Dec 15, 2016 by Sunil Kumar, Chennai | Financial Planning

The term insurance plan you have taken considering your annual income is fine and adequately covers the family. However, you have a home loan of Rs. 20 Lakhs for which you should have taken another term... Read More

Wanted to know about NRI taxation

An NRI since 2013 encashed Rs. 3 Lakhs in October 2016 out of Mutual Funds. We had invested through SIP from August 2010 to August 2015, cost value is Rs. 180,000 Lakhs. What is his tax liabilities on this gain. He has also received 1,10,000 as rent from his house property in FY 2016-2017. Is he required to file IT Return in this FY? Since FY 2013-2014 he has not filed any IT return as he had no income. Is he required to file returns for all these years? The rental amount. has been deposited in his PPF account which was already opened by him in 2008. Whether the deposits made in his PPF account on account of his rental income qualify for deduction in IT laws? Kindly guide?

Dec 12, 2016 by Vinay Vashisht, Chandigarh | Financial Planning

Sorry to say, your query is not complete and some parts are vague. Therefore, we will try answering the parts which are clear and for the rest, if you want, you can provide further details to us through... Read More

How can I create a corpus for education of my son after 10 years

I have Rs. 2000 SIP in HDFC Top 200 direct Growth. I have an active folio but SIP terminated investment in Reliance Regular Savings Fund Direct Growth Option. Should I start it once again. My basic target is to let around 10-12 thousand flow in investments in a balanced way. Other investment details are as follows: 1. LIC Jeevan Saral 1000 monthly, 2. LIC Jeevan Anand 1200 monthly, 3. PPF 25000 annually, 4. Buy gold ETFs (GoldmanSachs) via Demat account 1-2 units annually. Most importantly, I am 37 years old, with family. I will be needing some corpus for my 3 yr old son after 10 years for his education. Of late I have been hearing about balancing the investments. Please help in this regard?

Dec 7, 2016 by Hitesh, Mumbai | Financial Planning

What you have read about balancing the investment etc. is right. The idea behind this is to invest according to your risk taking appetite. Therefore, you should first assess how much risk you can take and then... Read More

Do you offer personal finance consultancy

Do you offer personal finance consultancy as well? If you do, how to approach?

Dec 6, 2016 by Deepak, Hyderabad | Financial Planning

We do not provide personal finance consultancy or investment advisory services. But, if you want we can connect you to a financial advisor in your city. However, if your have any general query about investing... Read More

How to create a corpus of 4 Crores in next 20 years

I am 40 year old. By profession doctor. My income 24 Lakhs per annum. I am doing the following - 1. Paying house loan emi 40,000 per month since 3 years, 2. PPF account (me and my wife) 15 lakhs, 3. RD in bank @ 9% interest / Rs. 5000 per month, 4. Mutual funds - a) ICICI Prudential Value Discovery Fund Rs. 4,000 per month @ 2 years, b) HDFC Balanced Fund Rs. 3,000 per month @2 years and c) UTI Midcap Fund Rs. 3,000/ month. Sir, I want a corpus of 4 Crores in 20 years. Please suggest me mutual funds portfolio for 4 Crores in 20 years. Total SIP amount and fund name etc?

Dec 4, 2016 by Lokesh Arora, Bikaner | Financial Planning

Your investment in PPF is fine and you should continue with that. I think, you are also claiming tax rebate on your principal and interest amount on monthly Home loan EMI. With PPF and tax benefit on Home... Read More

How to plan my finances and future goals

My name is Krishan working in export firm and my age is 38 years. And having one daughter, wife is house wife. My assets are follows 1) My salary package as on date: 350000 pa, 2) EPF balance as on date 4 lac, 3) Flexi Fixed Account in all Allahabad bank and account balance About 2 lac, 4) LIC money back policy SA 5 lac out of which I have paid 8 premium of Rs. 18500 policy tenure 20 years. I received money back every five year About Rs. 50000, which I make the fixed deposit for next 3 premium Still I don't have any financial planning but now I am aware of these things and financial goals are as follows 1) Retirement planning: my expense as on today is Rs. 20000 I want to retire in 55 year of age, 2) Daughter Marriage: 8 year old and expected to marry 23 years of age and need 10 lac as on today exp, 3) Daughter Education 8 lac as on today exp, 4) every year I need 20,000 for vacations I can invest 3000 pm in moderate risk. Can I fulfil my goals else how much Amount I need to complete my goals I can increase this SIP every year 10% Please suggest?

Oct 25, 2016 by Krishan Bhardwaj, New Delhi | Financial Planning

Based on the information provided you, the investment made by you is primarily in fixed deposit and life insurance policy. You have Rs 2 lakhs invested in FD. The current FD interest rate is around 7%. Assuming... Read More

Is my investment portfolio correct to meet my financial goals

My self Gaurav Pratap Age 33 years, working as Design Engineer. I am from Varanasi Uttar Pradesh. I have one daughter of 5 years old and my Annual Income is 14 lakhs/Annum. My investment details are as follows-: 1. Term Plan - 75 lakhs, 2. Medical insurance - 8 lakhs(personal) + 3 lakhs (company provided), 3. PPF - 3500 per month (presently having approx 4 lakhs in PPF), 4. SIP Details - Presently having approx 8 lakhs in Mutaul Fund. Mutual Fund Scheme details follows - 1. ICICI Pru LTEF (Tax Saving) - Growth - 2500 Aug 14, 2. ICICI Pru Value Discovery Fund - Growth - 8500 April 15, 3. ICICI Pru Focused Bluechip Equity - Growth - 9500 Aug 14, 4. ICICI Pru MidCap Fund Plan - Direct Growth - 4500 Jan 15, 5. HDFC Long Term Advantage Fund - 2500 Aug 14, 6. HDFC Top 200 Fund - Growth - 4000 Aug 11, 7. HDFC Prudence Fund - Growth 3000 Aug 11, Total - Rs. 35000 per month. Emergency Fund - 1.5 lakhs, PF - 120000 per Annum (approx 5 lakhs in PF), Share - Approx 1.1 lakhs. Goals - 1. Retirement – 1.5 Cr., 2. Marriage - 75 lakhs, 3. Education – 75 lakhs. I have made my home. Query - 1. Whether I should reduce/stop my SIP in HDFC Top 200 if yes where to invest? 2. If I start another SIP then how will I get the benefits of compounding? 3. My portfolio is correct or not?

Sep 15, 2016 by Gaurav, Chennai | Financial Planning

Some of the key details in your query is missing – Like, your retirement age and current monthly expenses. However, we will still try to answer based on whatever details you have shared with us... Read More

Can you please advise me if my investment planning is correct

First of all, you are doing great job by giving the details about investment. I have gone through many Blogs & websites but no one review the person's investment, without Money and providing the suggestion. All your articles excellent. Can you please review my investment and share your feedback. Age: 30, Monthly salary: 50000, Monthly Expenses: 20000. Current Investment: SBI Bluechip Fund - 1500 (Last 6 months, I will continue more than 5 years), Tata Balanced Fund - 2000 (Last 15 months, I will continue more than 5 years), Reliance Tax Saver Direct Plan - 25000 (SIP for One Year currently Stopped), HDFC Top 200 Direct Growth - 22000 (One time Investment Keeping last one year), HDFC Medium Term Opportunities Fund - 50000 (Lumpsum from last one month), Birla Sun Life Retail Plan Growth - 25000 (Lumpsum from last one month). Planning to investment 3 Lakhs Post office Monthly saving scheme, also reinvest the post office interest amount in some mutual funds. This is for next 5 to 6 years. I would like to know if this is the correct way. If not please suggest some fund to park the money?

Sep 6, 2016 by Venkatesh, Chennai | Financial Planning

Thanks for the kind words and the appreciation. We at Advisorkhoj, are committed to help the investment advisory eco system and thus it is our endeavour to answer each and every query raised by investors and... Read More