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Vatsal Shah

Head - Wealth Management , Sushil Finance

Know more on your investments

 

Questions Answered

Q

guest: As per Income Tax section 115BBDA, dividend income from domestic company exceeding Rs 10 lakh is taxable at the rate of 10%. Suppose I have dividend income of Rs 15 lakh from an equity mutual fund. Would Rs 5 lakh (15 lakh - 10 lakh) be taxable at 10% ? If not, then where should I report this income of Rs 15 lakh in ITR 2 ? In Schedule EI point 2, it is not allowed to enter an amount more than Rs 10 lakh. Please advise. thanks.

Vatsal Shah: Hello in this case you shall be taxed on the additional 5 lacs which you are receiving from Dividend. To my knowledge Equity MFs are not exempted. However, in the next budget they may clarify as now large sums of money are coming through Mutual Funds
Q

guest: Hi, Im 37 year old and have monthly income of 60K.I\`ve below investmnets: 1.LIC Jeevan Anand - Premiuim - 15429 INR/year 2.HDFC Term Plan - Premiuim - 14000 INR/year 3.VPF - 3000 INR/month 4.NPS - 2500 INR/month 5.Child Education - 5000 INR/month 6.PPF - 150000/year 7. Medical insurance of 500000 from Office policy I\`ve no loans. I\`m planing to invest 10000/month in different mutual fund for 10 years. Please sugegst which fund will give me max returns or I should go for any retiremnt policy which will cover my need.

Vatsal Shah: A normal combo of Large - Mid and Multi Cap will work you dont need to invest in Retirement plans as such. Go for schemes which are well managed and performing consistently. E.g. BSL Equity, L&T India Value, MOSL M35, Tata Equity P/E, Franklin High growth
Q

guest: Hi , I am 28 years old and married.My fathers retirement is due by the end of the month(July).He is getting a retirement settlement amount close to 33 lks.If i want to invest(mutual funds) a part of it say 6-7 lks under my name what are the tax obligations that i ll be facing and what are the ways to save tax if there are obligations?

Vatsal Shah: I am not sure how you will invest in your name as you are not a minor. So unless he gives you a gift of 6-7 laks with a signed Gift Deed..there is no other way.
Q

guest: I have a short term goal within 1 year and looking for corpus of 10 Lakhs. I can invest 50k per month. But after checking the current FD/RD rates, looking for some better debt options for investment and better return.

Vatsal Shah: you are looking at returns of 50+% i.e. Investment of 6 lakhs and final value of 10 lakhs in 1 year. So you risk and return profile is not matching. In FD or Debt maximum you can get 8.5% so you can expect value to be 6.5 lacs. So please rethink on your plan. This would be possible only in stocks given the bull market.
Q

guest: Clarify the disclosure of cash deposit during demonetization period.

Vatsal Shah: Sir this would be case to case - depending on value...ideally long term savings from gifts received over various occasions, however you have to pay tax on this.
Q

guest: Hi, I am new to mutual funds and want to start investing. I am 36, have no liability and have repaid full home loan. Till now have been investing solely in FDs, PPF and PF but I guess I won\`t be able to beat inflation. Did some study and found that I should start with balanced, Midcap and large cap funds. Please suggest some funds to start with. I can invest 40K per month. Thanks in advance.

Vatsal Shah: Hello for your age - i would suggest go entirely for Equity Mutual Funds and not balanced funds. As we are yet to unfold the biggest ever bull run in the Equity Market. So take benefit of that. Go for 1 Large , 2 Multi and 2 Mid Cap funds :- Look at ICICI Top 100, Kotak Emerging Equity, DSP Small and Midcap, MOSL M35, L&T India Value, Birla SL Advantage
Q

guest: I AM PLANNING TO BUY A CAR IN THREE YEARS FROM NOW AND WANT TO ACCUMULATE 5 LALHS FOR THAT. HOW SHOULD AND HOW MUCH SHOULD I INVEST TO GET 5 LAKHS AFTER THREE YEARS FROM TODAY?

Vatsal Shah: An SIP of 11000 will help you achieve that goal. Go ahead and invest in that would help. The expected return I have assumed is 14.5% which i feel market will give from here on
Q

guest: I am final year IIT student and want to invest 50k for a year. Where should I invest for a better return with moderate risks?

Vatsal Shah: You are an intelligent person, read up some investment books, identify good stocks and invest in one or two stocks.
Q

guest: I have INR 720K worth Shares, 61K Mutual Fund as investment. on the other hand i have debt of 2.2million INR. How to get out of debt? is there any loan i can opt

Vatsal Shah: You need to take a loan which has lower interest rate -> also do you have any asset to mortgage the same? the shares and MF will not help you to get a large loan as the amount is small and need to check which stocks are there. Max you can expect 3 lakhs as loan against securities
Q

guest: Dear sir/ Madam, On 15th Dec. 2015, I had deposited 03 Cheques of Rs.20Lakhs each to one nationalised bank in Pune, with a clear instruction to the manager to use those cheques to close the housing loan. I had received those cheques by a person against the cancelation of his property sale deed executed between both of us. While depositing the cheques, I had explained the situation to the manager & very next day, given him clear written instructions to use those cheques to close the housing loan which was issued by the same branch. At that time the loan outstanding was 60 Lakhs. (now it is of 70Lakhs) But the manager did not use those cheques to close the loan, not issued any memo to explain status of the cheques. I kept on reminding him several times by visiting the branch. I also had sent him the e-mail reminders to his official I.D. Whenever I enquired about the cheques, manager used to give me vague answer as he knew the cheque issuer very closely. As I was fed up with the branch and manager, on 02.05.2017, I brought this matter to head office by sending them written complaint by register AD post. Interestingly, very next week manager got transferred to other branch. As I did not hear anything from bank, I sent next reminder on 02.06.2017 to next level. But so far there is no feedback from head office. But, I received a call from the cheque issuer saying that he will clear the cheques in 15 days? time (where 10days are already over.)Now I can?t trust the cheque issuer any more. I can?t even trust the bank (nationalised bank) as they have ignored my 02 written complaints. Now I am really worried with following questions, 1. What is going to happen about 70Lakh loan which is still on my name? 2. Bank manager has not performed his duty; even head office is ignoring my complaints. 3. The property for which I had borrowed the loan is also not in my name. (I assume all original papers are with the bank due to the outstanding loan for the same property ) Please suggest what best I should do in this scenario?

Vatsal Shah: 1. A loan in your name is in your name you have find all ways to get rid of it. Figure out a way to solve this miscommunication 2. You cannot blame on bank - as to prove that in court it will take many years and by that time the story might be over. So better to escalate to Nodal Office and CMD level of the Bank 3. Looks like a serious issue please consult with the seller of the property and what they feel.
Q

guest: I want to invest 5 lakhs in each year. My goal after 20 or 25 year will get 2 crore. Which is best way to invest to archive it ?

Vatsal Shah: 5 lakhs per year would come to approx 3.3 crores if you stay invested for next 20 years...through SIP. Look at a combination of 2multicap and 2 mid cap scehems
Q

guest: SIR,I AM A SR.CITIZEN AND TAXPAYER FILING ITR REGULARILY.MY UNMARRIED SISTER AGED 86 LIVES WITH ME.I AM HER ONLY BROTHER.SHE PURCHASED A PLOT (COST 3 LAKHS)AND GOT REGISTERED IN MY NAME SINCE SHE COULD NOT MOVE.THE AMOUNT PAYED BY HER FROM HER SAVINGS AFTER RETIREMENT AS TEACHER.SHE IS NOT A TAXPAYER GETTING PENSION OF 11000/ P.M.WHAT LIABILITY OF TAX COMES ON ME?

Vatsal Shah: As of now there is no tax as there is no capital gain for you. When you sell the plot the entire amount will be subject to capital gain. Meanwhile make a Gift Deed from your sister to you so you have proof that it was given by her in your name. Get the deed stamp duty registered
Q

guest: Sir, We are two : Me & My Wife. We are planning to invest 2.5 lakhs individually. Our goal after 20 or 25 yrs is around 2 Crores. Which is great way to invest our money ?

Vatsal Shah: SIP and Stocks combination - is a good way. to achieve 2 crores through investment of 20,000 per month is slightly aggressive considering long term
Q

guest: I have been investing in ICICI prudential pension plan through nps with active choice of 50% in equity 35% in Coporate bond and 15% in government bond. Do i need to change my PFM? if yes, could you help me which PFM i should choose. I can be on aggressive side.

Vatsal Shah: Yes increase your Equity to 75% and the remaining can be corporate / Govt Debt. Also Insurance policy have very high costs...so even consider doing an SIP in Mutual Fund to get higher returns
Q

guest: I\`m at 57 and retire at 60. What amount I should invest to get monthly return of Rs.30000/- after 3 years? Which mix of schemes I should consider investing?

Vatsal Shah: You will need a corpus of 85 lakhs which can help you sustain for the rest of your life at 30,000 including the growth of expenses because of inflation.
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