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Personal Finance
Tracked by: 0 Boarder
Dear Chandrakant, If u don`t require money now plz. let it remain there. In all probability either u r below than what u have paid thru prem. in last 3 years or just on break even.
If u opt to partial withdraw, it`s tax free but it `ll bring down ur fund value 7 accordingly the charges `ll be recovered from ur reduced fund value so ur remaining fund `ll deplete very fast.
As only 3 years have completed, surrender of policy `ll invite Tax on full money u r receiving from policy. As the surrendered amount `ll be added to ur income from all other sources & taxed accordingly.
Thanks
Ashal...
In reply to:
TAX IMPLICATION ON SURRENDER VALUE AND PARTIAL WITHDRAWL
Posted by :
drclpatel1975
Respected Experts,
i hold SBI LIFE UNIT PLUS REG. TERM ULIP from July 2006. iT HAS COMPLETED ITS 3 YEAR OF LOCK IN PERIOD. Now i can withdraw amount from my ulip. Also i can surrender the policy with 1% charge. I would like to know tax imoplicable on surrender value as well as on partial withdrawl. Which one will be more tax beneficial for me?
My ulip is with life insurance. it is not a retirement plan.
kindly guide me for my dilemma
CHANDRAKANT 
Tracked by: 0 Boarder
Dear Mitesh, As on date u hold a total 70 shares of RIL. out of which 30 shares r more than 1 year old, hence if u opt to sell these shares @ Ex bonus rate, ur LTC losses `ll be ignored as rightly pointed out by dear Subasu.
For ur remaining 40 shares of 8 months holding if u opt to sell these shares @ Ex bonus price, the loss `ll be STCL & u can adjust this loss against ur STCG of 1L Rs. To bring down ur Tax liability on ur STCG of 1L Rs. u may adopt this bonus share selling method to other share also where bonus is due or may be call within next few days.
Thanks
Ashal ...
In reply to:
capital gains
Posted by : mit_esh
i am holding 30 RIL shares sincelast 2 years @2585/share and another 40 @1600 since last 8months.i have short term capital gain of 1lacs and long term capital loss of 50000 from other shares transaction during current year.
what strategies i shall adopt vis-a-vis these ril shares to reduce my tax liabilities on short term capital gain? can i carry forward long term capital loss?
Tracked by: 0 Boarder
Dear friends. as the NCDs r listed on Exchange & if u want to sell it, the gains if any `ll be treated as STCG (as u r selling b4 completion of 1 year) & u `ll be taxed accordingly.
Thanks
Ashal...
In reply to:
TAX TREATMENT- LISTED NCDS
Posted by :
Guest
What would be tax treatment for Tata NCDs sold before completion of one year???
Tracked by: 0 Boarder
Dear Zapper, Redeem from following funds.
DSP Tiger
K- Opp.
K-30
HSBC Eq.
Sund. Select Focus
Ur remaining funds `ll be -
BSL Fr`line
HDFC Top 200
DSP Top 100
Rel. Growth
The first 3 r large dcap oriented funds & Rel. Growth is a midcap fund. So there is scope for addition of multicap funds like DSP Eq. & Rel. RSF Eq.
From ur total redemption amount, invest in DSP Eq. & REl. RSF Eq. as well as top up in above 3 large cap funds.
After all the adjustment ur total funds `ll be 6. Which is a good no. to observe & follow the performance.
thanks
Ashal...
In reply to:
Book Profit or Keep
Posted by :
zapper
Dear Ashal, Wadia and Sharma ji,
Last yr i invested in following MF (dividend pay-out option)
BSL Frontline Equity
HDFC-Top200
DSPBR-TIGER
DSPBR-Top100
Kotak-30
Kotak Opportunities
HSBC Equity
Sundaram Select Focus
Reliance Growth
Now, one year has completed. Please suggest shall I book profits or keep these funds or book partly profit.
Thks
Wishes
zapper
Dear Srivatsa, In ur planning, I have a problem.
Ur current age is 30Y.
Expected Ret. age is 45Y.
It means u have only 15 years to accumulate corpus.
Now due to medical science`s advancement, ur life expectancy is already more than 75Y. It means u `ll live a minimum of 30 years on ur ret. corpus.
Do u feel within next 15 years u `ll be able to accumulate the corpus which `ll be able to generate Tax as well as inflation adjusted returns for next 30-35Y?
Think again regarding ur decision of retiring @ 45Y. In my view, at least extend it by 10 years for ur age 55.
The approach taken by dear pcspune is excellent.
Thanks
Ashal ...
In reply to:
Retirement planning from 30
Posted by : vatsa_rj
Hi
Iam currently 30yrs old and would like to retire in another 15yrs.I want to make an investment for my retirement so that I can get monthly income 15yrs hence forth.This income is required to just cover my monthly expenses and considering that i have own house and no debts.
Please let me know whats the best option available.
Thanks
Srivatsa
Dear C M Naik, From ur post, i feel u want to transfer money (u r using shares to transfer money) from ur hand to ur wife`s hand & later on u `ll use this money to generate taxable/non taxable income under ur wife`s name.
This way u want to avoid Tax liability (as & when it occurs) if u use the share sell money under ur own name to invest in FDs or STCGs etc.
Since the holding period is already more than 1 year, there is no problem on taxation front. For ur own good, it`s advisable to prepare a gift deed on a plain paper to avoid future problems.
thanks
Ashal...
In reply to:
Capital Gains tax on transferred shares.
Posted by : naik.chandru
I want to transfer my stocks to my wifes account. I have been holding thos shares for more than a year now. will she be subjected to capital gain tax if sold in a month or so?
C M Naik
Dear friend, In ur post it`s not clear that u r in immediate requirement of money or u want it after a gap of some years say 5-6 years.
The way as suggested by dear PCSPune is excellent but the only problem, it `ll require time to execute in full & from ur post, time frame is not clear.
Plz. post more details.
Thanks
Ashal...
In reply to:
Regular Income / Dividend
Posted by : Guest
I will like to invest money in some safe instrument (not bank fixed deposit) to generate a regular income on monthly basis.
What is the best option. Although there are POMIS, MIP (dividend not guaranteed) etc., yet will like to know better options. Are there any debt / equity funds which declare regular dividend. I have noticed Bharti AXA Equity has declared total 40% dividend in last few months.
Suggest.
Tracked by: 0 Boarder
Dear MIK, Plz. note in case of MF as well as shares FIFO (First In First Out) method is used.
So in ur case, the AMC is at fault. Plz. inform them with all the details & ask them to rectify the problem.
I hope in all probability u `ll get ur money back.
Thanks
Ashal...
In reply to:
Wrong units switched
Posted by : m_i_khilji
Dear Members,
I invested in HDFC Growth(G).
Out of total units, I switched 30.088 units to HDFC Prudence and Top 200 last month.
I calculated the units bought and come out with 198.202 units completed 1 year from the remaining units.
I redeemed 198.202 units yesterday. But, I was amazed to see that rather than those units which completed 1 year, units bought in Jan/Feb-2009 were redeemed, due to which there was TDS done of 318 Rs.
Please suggest.
regards,
MIK
Tracked by: 0 Boarder
Dear arinshare,
It depends on your other funds.
If you have some other large cap fund in your portfolio, then you should go for DSPBR Equity.
If this will be one and only fund in your portfolio, then you should go for BSL Frontline. (I don`t know, why you have to select from these 2 funds only).
regards,
MIK...
In reply to:
mutual funds
Posted by : arinshare
Dear All,
I have Rs. 1000 for investment in MF through monthly SIP for next at least 10 years and there is one choice between Birla Sun life Frontline Equity (G) and DSPBR Equity (G).
Please suggest me which will be correct pick and why?
Tracked by: 0 Boarder
Dear arinshare
Birla Sunlife Frontline Equity is a conservative large cap fund where DSPBR Equity is a multicap fund. Choice between these two depends upon the fact which other funds are there in your portfolio. performncewise, both are excellent funds.
regds
Ashport...
In reply to:
mutual funds
Posted by : arinshare
Dear All,
I have Rs. 1000 for investment in MF through monthly SIP for next at least 10 years and there is one choice between Birla Sun life Frontline Equity (G) and DSPBR Equity (G).
Please suggest me which will be correct pick and why?
Tracked by: 0 Boarder
As long term capital gains are tax free, long term capital losses on share transactions cannot be carried forward and will be ignored.
You will have to pay tax on short term capital gains at the special rate of 15.45% for current year, unless you can make some strategic short term losses amounting to Rs. 1 lakh so that the tax outgo is nil. Do you have other shares purchased after December 2008 where you can book some losses. Please make a calculation taking into account the tax outgo of Rs. 15,450 on the STG of Rs. 1 lakh and decide....
In reply to:
capital gains
Posted by : mit_esh
i am holding 30 RIL shares sincelast 2 years @2585/share and another 40 @1600 since last 8months.i have short term capital gain of 1lacs and long term capital loss of 50000 from other shares transaction during current year.
what strategies i shall adopt vis-a-vis these ril shares to reduce my tax liabilities on short term capital gain? can i carry forward long term capital loss?
Tracked by: 0 Boarder
what about the below funds. Is it advisable
Reliance short term fund
Canara Robeco Income
HDFC short term/high interest...
In reply to:
Book Profit or Keep
Posted by : wadia
Dear Feroz,
Interest rates may move up shortly and so it is not advisable to go for longer duration debt funds. Opt for short term debt funds or better still dynamic funds like Birla Sunlife Dynamic fund is best suited for now.
Regards,
Wadia
Tracked by: 0 Boarder
Dear Feroz,
Interest rates may move up shortly and so it is not advisable to go for longer duration debt funds. Opt for short term debt funds or better still dynamic funds like Birla Sunlife Dynamic fund is best suited for now.
Regards,
Wadia...
In reply to:
Book Profit or Keep
Posted by : feroz83
Dear P.C,
If we book the profit and want to invest in a debt fund on a long term, which funds would you suggest like short term debt/long term debt/gilt.
Kindly advise.
Feroz
Tracked by: 0 Boarder
Respected Experts,
i hold SBI LIFE UNIT PLUS REG. TERM ULIP from July 2006. iT HAS COMPLETED ITS 3 YEAR OF LOCK IN PERIOD. Now i can withdraw amount from my ulip. Also i can surrender the policy with 1% charge. I would like to know tax imoplicable on surrender value as well as on partial withdrawl. Which one will be more tax beneficial for me?
My ulip is with life insurance. it is not a retirement plan.
kindly guide me for my dilemma
CHANDRAKANT...
Tracked by: 0 Boarder
Dear Members,
Any suggestion?
Although, I have sent email to cams regarding this issue.
regards,
MIK...
In reply to:
Wrong units switched
Posted by : m_i_khilji
Dear Members,
I invested in HDFC Growth(G).
Out of total units, I switched 30.088 units to HDFC Prudence and Top 200 last month.
I calculated the units bought and come out with 198.202 units completed 1 year from the remaining units.
I redeemed 198.202 units yesterday. But, I was amazed to see that rather than those units which completed 1 year, units bought in Jan/Feb-2009 were redeemed, due to which there was TDS done of 318 Rs.
Please suggest.
regards,
MIK
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