Investment, Financial Planning, Mutual Fund & Income Tax Queries

How to invest in shares

I want to invest an amount of around 3-4 lakhs in stock market. I can hold for around 3-4 years. Suggest me some good stocks?

Jun 1, 2015 by Subhendu, Guwahati | Mutual Fund

We do not give stock recommendations. However, this is a good time to invest in equity with a long investment horizon. We are in a secular long term bull market and the recent correction of nearly 1000 points on the Nifty presents good buying opportunity. While the market has corrected significantly... Read More

What are the best Large Cap Mutual Fund and Debt Funds

My age is 33. Can you suggest mutual fund for large cap and debt?

Jun 1, 2015 by Gaurang, Noida | Mutual Fund

The universe of Large Cap funds is very big. However some time tested and well established funds are as follows... Read More

What is Equity Linked Saving Scheme

Want to know about ELSS fund?

Jun 1, 2015 by Gaurav Agrawal, Mumbai | Taxation

ELSS is the best tax saving option under Section 80C of the Income Tax Act. You can avail a maximum benefit of Rs. 150,000 under this section every year. There are many good funds within the ELSS category. To know more ELSS and the funds, we request you to click the below link... Read More

Compare Sukanya Samridhi Scheme with HDFC Children Gift Fund

Comparison between HDFC children gift fund and post office scheme Sukanya Samriddhi Yojana?

Jun 1, 2015 by Navtej Luthra, Jalandhar | Mutual Fund

Before comparison, please note that SUKANYA SAMRIDHI YOJANA is meant for girl child below 10 years only and there is a limit of Investment of Rs. 150,000/- per annum. The rate of return is also fixed, for current year it is 9.20%... Read More

How to change the name in Mutual Funds post your marriage

In the early years we invested in MF say in 1994 to 97 & also in UTI MF. Now my sister got married & we still have investment in her old name i.e before marriage name, she have PAN with new name. Now we like to add bank details because at the time of investment no bank details given. Even we have investment in UTI MF without bank details, then what form to fill up?

Jun 1, 2015 by Himanshu Shah, Surat | Mutual Fund

Nothing to worry. Following document would require along with a letter addressed to THE MANAGER, UTI Mutual Fund for your sister – 1. Attested copy of the marriage certificate 2. PAN Card copy – Self attested 3. An Address Proof – Passport or latest Bank Statement or Aadhar card copy etc... Read More

How to invest in best Tax Saving options

I am going to complete my age 60 years in Feb 2016 and working in a Private company and want to invest INR 50,000/- from my own contribution to save tax of INR 15,000/- 1)The NPS is applicable for age between 18 to 55 years or up to 60 years. 2) Lump sum withdrawal after maturity will be tax-free or taxable. 3) Which is the best Fund Manager till date?

Jun 1, 2015 by Janardan Prasad, Mumbai | Taxation

Yes, you can contribute Rs. 50,000 during the current FY (But before attaining age 60) to avail the tax benefit. However, you will not be able to contribute anything after that as you are attaining the age of 60 in Feb 2016. Minimum 40% of the total corpus should be used for buying annuity... Read More

Best Life Insurance Plan which can generate income

I am a salaried employee with monthly income 40 thousand rupees. I want to buy insurance plane with secured income periodically for myself & One child insurance for my 1 yr child(girl) for securing her higher education. First I decided that I will invest my money in Suknya Smradhi Yojna & PPF Except that I want to take Insurance plane for myself & child?

Apr 1, 2015 by Kavindra, Jabalpur | Life Insurance

It is very prudent on your part, to start planning for your child’s higher education from a very young age. If you start early, you will be benefit from the power of compounding of investment returns. However, it is not prudent to mix life insurance and investment... Read More

Best Systematic Investment Plan to invest in India

I want to invest in SIP, let me know which fund is better for the wealth growth?

Mar 11, 2015 by Vishal Sharma, Chandigarh | Systematic Investment Plan

You should always go for DIVERSIFIED EQUITY FUNDS for investment in SIPs.You may go with time tested funds like, Franklin India Bluechip Fund, Birla Sunlife Frontline Equity Fund, ICICI Prudential Focused Bluechip Equity Fund, HDFC Top 200 Fund etc. To see a... Read More

Tax Rebate on National Pension Scheme

With regards to NPS, currently you can claim the deduction if the amount is debited and remitted by the employer only and not if you are making the contribution on your own. I have three queries: 1. Can I claim the deduction for tier 2 a/c of NPS? 2. Can I claim the deduction if I deposit the money from my a/c to the NPS a/c without the employer being involved? 3. with new provision of additional 50k in this budget, can I claim the deduction if I make the contribution to tier 2 a/c or do I have to make the contribution to tier 1 a/c only?

Mar 11, 2015 by Deepak, Mumbai | Taxation

Firstly, we should clarify that all citizens of India 18 and 60 years as on the date of submission are eligible to join NPS. 80C deduction up to the prescribed limit is applicable to all deposits to NPS Tier 1 account. In order to join NPS Submit duly filled UOS S1 form... Read More

Will banks provide me Personal Loan if unemployed

I was salaried and had 6 lakh Home loan, 5th month ago. I quite the job for new job, but due to some reason i could not get that job. Now my Finacial condition is very bad, bank not given any top-up loan. How to resolve this problem until i will get the new job?

Mar 9, 2015 by Rahul, Navi Mumbai | Home Loan

Firstly, we are sorry to hear about your troubles and we hope that you are able to recover from this distressful situation very quickly. As regards your EMI payments, you do have a few options. 1. You can meet with the loan officer, explain your financial situation and request... Read More