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Chat Transcript

Vatsal Shah

Head - Wealth Management , Sushil Finance

Know more on your investments


Questions Answered


guest: After investing via sip how many times later compound system will affect the scheme.

Vatsal Shah: Dear Sir, the effect of compounding starts immediately, but you will see the real benefit when the market changes overall ranges like it went from 5000 sensex to 20000

guest: Hello MoneyControl, I need your guidance. I am 67 years old retired person & my present income needs no income tax payment. Now I received about 16.5 lakh from LIC as maturity amount. I need your guidance regarding investing this money so that I get steady monthly income- of course, as much as possible. I do not get any pension from anywhere. Please guide. Thank you. Ashok Khandekar Mobile: 9322217678

Vatsal Shah: Dear Ashok Khandekar, you can invest this money in a Balanced Advantage fund for 1 year and there after take a Systematic Withdrawal - which will be tax efficient, the amount can be upto 1% of your corpus

guest: I got Dividend on my ESPP shares. Listed in USA and not in India. The dividend were credited in my India Bank Account by USA Broker. I am a resident indian and working as software enginerr in the MNC software company who allotted me these shares. After credit of Dividend in my account USA Broker sent me Form 1042-S. I have to file ITR-2 this AY 2018-19 and to show this dividend income. I am not getting any tool in ITR Return to submt PDF file of these Form 1042-S then how this will be verified and agreed by Tax authorities. Further Some one is saying to relport the figures in Form 67 of efiling of IT prortal. I have filled and saved it. But here also there is no system to attach form 1042_s. Further there is confusion in time line of submission. Some one saying submit form 67 immediately. Some one saying with ITR-2 filing and some one is saying after filing of return. What is correct. I am highly confused and No CA is helping me.

Vatsal Shah: Dear Sir, this is a bit of complex case and any CA who is expert in US financial laws and respective Indian laws will help you. If you have received the income in last financial year then you have to file it before the deadline of 30th June. So timelines is not an issue but the method you need to check with a CA who is good with this subject

guest: In FY 2012-13, I purchased an under construction apartment in Mumbai. As of FY 2018-19, construction is still in progress. If I wish to sell off the property and invest the complete proceeds into another ready-to-move-in home in Mumbai, what are the income tax implications?

Vatsal Shah: Sir there will be capital gains taxation, if there is a gain after indexation - in my opinion there wont be much gain after indexation looking at the market scenario it will entirely depend on your buying and selling price

guest: what is the best fund right now for investing for 10 -15 yrs in SIP

Vatsal Shah: There is no 1 best fund, a good basket of 4 funds will give you good returns - can consider : Reliance Large Cap, ICICI Large and Mid Cap, Franklin Smaller Cos, Kotak Emerging Equities

guest: Hi My name is Vipin Kandhol, I am 33 years old. I would like to raise a corpus of 10 Cr in next 25 years for my Retirement. My current investment is as below: NPS 6000/month up to 31-3-18 - 105000 EPF 12000/month up to 31-3-18 - 960000 Emergency Fund - 500000 Postal Life Insurance started Oct-2013 - 5100/Month Sum assured - 20Lac Mutual Fund for my interim requirements 6000/month up to 31-3-18 - 200000/- SBI Magnum Multi Cap Fund - Direct Plan - 1000/month Aditya Birla Sun Life Top 100 Fund - Direct Plan - 1000/month Motilal Oswal Multicap 35 Fund - Direct Plan - 1000/month DSP BlackRock Mid Cap Fund - Direct Plan - 1000/month Canara Robeco Emerging Equities - Direct Plan - 1000/month L&T Emerging Businesses Fund - Direct Plan - 1000/month For Retirment Up to 31-3-18 - 50000/- SBI Magnum Multi Cap Fund - Growth plan - 2000/month Aditya Birla Sun Life Tax Relief 96 - Growth plan - 2000/month Axis Long Term Equity Fund - Growth plan - 2000/month Motilal Oswal Long Term Equity Fund - growth Plan - 2000/month I will like to increase my investment by 7-10% every year. Can I able to achieve my target, If any changes required let me know. Thanks & Regards Vipin Singh Kandhol Mobile No : 9896945555

Vatsal Shah: Dear Vipin Singh, very detailed in short i can say for 10 crore you need to start investing per month - 55 thousand - so that total doesnt add up here, maybe you want to consider adding more amount to the funds if possible.

guest: my folio carries stocks, Mutual Fund & Ulips.I have no difficulty to maintain Stock Portfolio But Mutual Folio is not mantian Following observation are observed:after some period 1) some time one same name mutual fund started . as an example Motilal Oswal MOSt Focundused Muli Cap 35 Fund Gr. After some period other same folio starts separately. 2) in some folios double entry is made with separate 3) Please explain with example regading ULIP / LIC policy I am also to stop this portfolio & start with new on You are requested to send suggestions in the above matter. Thanks & Regards, Parmanand Jethani

Vatsal Shah: Dear Parmanand Jethani - you are requested to check with your advisors why new Folio go created. There is an option either it would be because of holding pattern or some issue - you can merge the 2. Or it may be because of doing 2 transactions on different platforms. Regards to ULIP - i am not a big fan of the same and insurance can be considered only for pure protection

guest: Hi I have bought my first home with home Loan from SBI and paying EMI of 18000. The second home is self occupied bought 2yrs back with home loan from PNB paying EMI of 26,500. I am claiming tax benefits for the first home given for rent for the past 6yrs. Now i want to change this & claim Tax benefit for the second home which is self occupied because I am paying higher EMI. Need your advice please urgently.

Vatsal Shah: As far as you are paying EMI you can always claim the tax benefits - i dont see any issue regards to the same.
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