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    Hello and welcome to the webchat with Suresh Sadagopan, Founder & Principal Financial Planner, Ladder7 Financial Advisories on all queries related to Financial planning for FY17

  • M


    Dear Sir I am investing in the following funds since 2009: IDFC Premier Equity Fund,Quantum Long Term Equity and ICICI Focused bluechip fund for an amount of Rs 3000 per month in each scheme. However, since 2013 onwards my all schemes were migrated to Direct.What should i do with the investments I made between 2009 to 2013? Should I shift to Direct scheme after 2013 or leave it as it is?. My investment horizon is for a span of 15-20 years.


    You may shift everything to Direct as you would save on the expenses. I'm assuming that you do not require the services of a distributor & can do everything yourself.

  • J


    Hi, I am a first time investor in equity markets. What tax saving schemes can you recommend?


    ELSS Schemes like Franklin Taxshield Fund is a scheme that you may consider for this purpose.

  • D


    I am earning 64,000 per month. I want to save my tax without keeping money in for a long lock-in period. What are the options available?


    ELSS investments locks in the investments for the shortest possible time period. This may be most suitable if you want to lock in for the shortest possible time.

  • R


    What tax-saving investments would you recommend for a 56-year old, salaried person as he is getting closer to his retirement age? I'm seeking this advice on behalf of my father whose income is around 14.5 lpa. He has investments in traditional tools like LIC policy, health insurance and EPF, and he also enjoys some deductions because of a home loan.


    Apart from the ones mentioned, he may consider ELSS funds to some extent if it is appropriate considering his overall portfolio & needs. The other option that may be considered can be 5 year FDs, which also helps in saving taxes under Sec 80C.

  • D


    I am a senior citizen, aged 76. I have a lumpsum amount of Rs 3 lakhs. Would you please suggest me a low risk financial instrument from where I can receive regular income?


    You may consider Senior Citizen Savings Scheme. It offers 8.6% returns, which today is good. You may also consider investing in Debt funds and initiating Systematic Withdrawal. you could get a stable income stream at low tax incidence.

  • N


    My total income is Rs 5 lakh, of which I am investing Rs 1,50,000 in PPF. Since my aim is to build a large corpus in the next 5-6 years is is it a good idea to put such a large amount in PPF or else which other instrument can give me a higher return?


    If you need to build a large corpus, you may need to take a certain level of risk. you may need to look at equity oriented assets for that. They can give you between 12-15% returns over time. But, building a large corpus should not be an end in itself & should meaningfully dovetail with the various goals you may have.

  • R


    This is my first full financial year of service after my post graduation. What advice can you give me to reduce my tax outgo? My present salary is Rs 5,00,000/annum


    You shoudl take full advantage of Sec 80C, where you can save upto Rs.1.5 Lakhs. The vehicles you may consider are PPF & ELSS MF schemes. You may need insurance which will also come within the Sec80C. Also, if you are getting Pf from your employer, you may count that too under Sec 80C. If you are having education loans the interest can be deducted completely uner Sec 80E. You would require to take a medical insurance policy, which you may claim under Sec 80D [ upto Rs.30,000 ]

  • S


    Is there any investment options for senior citizens in Mutual Fund as the interest offered by bank deposits are quite low? Can you suggest me some product from where I can get a decent monthly return after investing a lump sum amount?


    There are two option - one in equity & one in debt. One can invest in debt MF scheme. the interest rate itself will be comparable to Fd rates. You may set up systematic withdrawal of an amount that you want as regular payouts ( which should be on the lines or lower than the interest earned in that period so that it can be sustainable ). This way tha tax will be very low as one needs to pay the taxes on the difference between selling price to cost price for units withdrawn only. This just comes to 3-4% normally of effective tax. The other option is to invest in a balanced fund in the monthly dividend option and they offer dividends which are tax free. The only point to be noted is that the dividend offered is in the range of 5-6% only and if you are looking for higher payout, you may have to withdraw yourself as necessary. Also, the dividends are not fixed and they only endeavour to offer it - which they mostly are able to do.

  • M


    Sir, my net income is around Rs 6 lakhs. I wish to avail a home loan of around Rs 15-20 lakhs. What are the deductions available for interest paid on home loans for a financial year?


    If the home is one's first home, the interest upto Rs.2 Lakhs is available as deduction. If it is a second home, there is no such limit.

  • J


    My salary income is Rs 8 lakh. I wish to buy a house in the distant suburbs in Mumbai between Rs 20-25 lakhs. What is the approximate loan amount I would be eligible and how much would I save on taxes?


    You would be able to take a loan for 75-80% of the home value, given your income level. It is mandatory to pay atleast 20-25% of the property value upfront from your side. You need to be prepared with that sum of money if you would like to go in for this purchase.

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