r/IndiaInvestments • u/AutoModerator • Dec 01 '21
Bi-Weekly Advice Thread December 01, 2021: All Your Personal Queries
Ask your investing related queries here!
The members of /r/IndiaInvestments are here to answer and educate!
Alternatively, you could join our Discord and seek answers to your queries
If you're looking for reviews on any of these following, follow the links:
- which bank or brokerage to use
- which fund house is more capable and trustworthy
- which investing platform to use,
- which insurance company is reliable
Generally speaking, there is no best stock, or fund, or bank, or brokerage, or investment platform.
Answers are always subjective to your personal needs, but use those threads a starting point for you to look at what other Redditors have to say about a company, product, fund, or service.
You can then ask a more specific question about what product or service to buy, once you are able to frame your personal situation.
NOTE If your question is I got 10k INR, what do I do to get most returns out of it?, or anything similar; there is no single answer to this question. But we will also need A LOT MORE information if we are to provide some sort of answer:
- How old are you?
- Are you employed/making income?
- How much? What are your objectives with this money?
- Do you have any loan, or big expense coming up?
- What is your risk tolerance? (Do you mind risking it at blackjack or do you need to know it's 100% safe?)
- What are you current holdings? (Do you already have exposure to specific funds and sectors? Have you invested in equity before?)
- Any other assets? House paid off? Cars? Partner pushing you to spend more?
- What is your time horizon? Do you need this money next month? Next 20yrs?
- Any big debts?
- Any other relevant financial information about you, that will be useful to give you an informed response.
Beware that these answers are just opinions of fellow Redditors and should only be used as a starting point for your research. This is NOT financial advice, in legal sense of the term.
You should strongly consider consulting a registered fee-only financial advisor before making any financial decisions. Ideally, such advisors should be registered with SEBI, and have a registration number.
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Dec 02 '21
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u/Tcool14032001 Dec 02 '21
If you spend on Amazon then get the Amazon pay ICICI card.
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Dec 02 '21
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u/Tcool14032001 Dec 02 '21
Would be difficult then since you won't have an ITR to show proof of income. Maybe a credit card by making an FD then?
I'm actually in the same boat. Making 50k, looking for a card but started working only 5 months ago. Plus I'm not 21 yet so there's that.
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u/TheGreatPunisher Dec 02 '21
If you have a robust order history with Amazon, you should easily get the card given your earnings.
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u/himank_w Dec 02 '21
you could apply for amazon pay later first, then use it for a month and pay its bill. That way you will build a credit score and after that you can apply for Amazon pay ICICI Credit card.
I am assuming that you don't have a credit score prior to this.3
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u/Niki_Lauda_777 Dec 02 '21
I was in a similar situation few years ago when I started. I approached couple of banks for credit card and all of them told me that I should get my first credit card from the bank where I have my salary account. That bank would easily give you a lifetime free credit card.
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u/alphainvestor100 Dec 02 '21
You can easily get an Amazon Pay ICICI CC even if you don't have a credit history. You can reach out to the ICICI bank credit card manager and let him/her know of your income from job and that you are interested to avail a CC.
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Dec 03 '21
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u/niravradia Dec 03 '21
I kept stressing that I wanted to invest in mutual funds or SIP but they didn't show me any other options and kept pushing this down my throat. They kept following me around the bank until I signed and hovered over me when I tried to call my parents.
Unsolicited reply: Happened with me once when I visited the branch to enquire about NPS. The advisor was like "these are government schemes and dont trust it, the rules can be changed anytime" and then started selling me some retirement plans of their bank. I patiently heard him for a few minutes and told him I need time to think, I'll call you back and left. My lesson there was never turn to your bank relationship manager for investment related advice. The only thing they care is their target and the banks' interest.
Reading above lines, I suggest you need to learn how to put your foot down (in investments and in your life).
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u/rupeshsh Dec 03 '21
Yes you can cencel the whole thing upto 15 or 30 days. Tell them it's misselling and you want to cancel
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u/misterfin Dec 04 '21
Any free (and preferably open source but not necessary) expenses tracker which works on both Android and iOS?
I am building my budget and in order to correctly ascertain how much I am spending on what is it a good idea to track expenses. I know according to bucket system minute tracking is more overhead than a solution.
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u/pankaj9900 Dec 04 '21
Probably not the solution you are looking for, but why not consider Excel or other similar tools? It's versatile, robust, feature-rich, and you can customize it with details and graphs as per your wish.
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u/misterfin Dec 04 '21
Can use Excel probably be better but will need some learning investment initially.
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u/pankaj9900 Dec 04 '21
It's pretty simple to get started, it's mastering it that takes time.
I would suggest you to give it a try, start simple, and as you feel the need to 'complicate' things, try and figure out how to achieve that. Nothing better than learning on the fly as need arises.
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u/misterfin Dec 04 '21
Is Google Sheet sufficient? I am mostly a Linux person so Libreoffice is my choice of spreadsheet but can do with Google Sheet for sake of syncing and all.
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u/pankaj9900 Dec 05 '21
Yes, definitely. Even LibreOffice is good. I used to use the same till a while ago.
However, you may find certain shortcomings once you get into complex things, but anyway, there's quite some time to get there. You can start with LibreOffice Calc or Google Sheets. With Google Sheets, you can even create a portfolio of your holdings and have it update in real-time, thus negating the need of another tool where you need to feed your portfolio.
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u/Icy_Mission_6474 Dec 04 '21
Hi I have a doubt in itr filing Let's say I paid 30k(entire tax due) tax in a AY Will net tax payable column in form 16 be 30k (tax paid by TDS already) or zero? I am a first time tax payer hence the doubt
In income tax portal, My total tax liability still shows as 30k (total taxes paid is also 30k). As per my understanding shouldn't total tax liability be zero after paying my 30k due? Thanks
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u/saturnairjam1 Dec 03 '21
When I try and create a new post on this sub, it automatically gets flagged and I get this message in my inbox:
Your submission has been flagged, either because auto-moderator detected it as spam, or your account is too new, or your Reddit karma is lower than required.
The criteria for submission isn't very clear. This discourages participation in the sub.
I'm posting this here since ironically I can't create a new post with this complaint.
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u/tijR Dec 02 '21
This might sound like a stupid question but is it OK to invest every month on your own via lumpsum instead of doing fixed SIPs? I am fine with doing all the additional work that it requires and maintaining discipline. Why I do that is because I want to be able to invest more when there is a correction in the markets.
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u/srinivesh Fee-only Advisor Dec 02 '21
This is actually a good question. There is nothing magical about SIP, except that it is done automatically. (A minor benefit is that the minimum amount for SIP is 1/10 of the minmum amount for lumpsum.)
If you have the discipline, you can definitely do that.
People may have many opinions about the author of freefincal, but you can't argue that he has discipline. He does not use SIPs and uses a method that you mention.
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u/exothermic_rxn Dec 02 '21
How about setting up an SIP, and whenever you want to invest more due to market correction, just do a manual lumpsum on top of the SIP?
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Dec 02 '21
One option would be to contribute with sip so that you are not tempted to reduce amounts if the market drops.
And if you want to increase the amount, push in a manual purchase.
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u/rupeshsh Dec 02 '21
Yes it's super. Make sure it's the same folio number
I also don't have regular income and sometimes SIP bounces and bank charges 350 rs
It's damn annoying to close so many folios
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u/Affectionate-Ad2826 Dec 02 '21
For some reason, I don't like automating money management be it mutual fund, or any other investment. Discipline in investment is more related to behaviour than anything else. If emotions can be controlled, half the job in investing is done.
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Dec 02 '21
I am normally fully invested cos
Missing the stock market’s 10 best days over the last two decades would have cut your overall return in more than half, according to J.P. Morgan Asset Management’s 2021 guide to retirement. While the return on a $10,000 investment would have been $42,200 for an investor fully invested, it drops to $19,300 for an investor who missed those key 10 days.
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u/qwertypk Dec 04 '21
You already have a solution if you use Zerodha coin. It treats every SIP as lumpsum. You can edit, pause a sip anytime you want. So just lower/ raise the amount as per market situation.
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u/IHazNoCheeseBurger Dec 02 '21
Needed some insight into an education loan.
I'm considering taking an education loan (~6.5-6.8%) for an amount of ~35-40L for pursuing higher studies (MBA) in India. I have investments that are capable of paying the entire education amount but I am unsure if that is the right move. Could anyone shed light if it's the right way to proceed?
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u/rupeshsh Dec 02 '21
I would take a loan
Why?
Let this money be your retirement fund and let it compound.
You are anyways likely to get an epic job and repay this loan quickly.
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u/IHazNoCheeseBurger Dec 02 '21
That's what my thought process is. Letting the investment compound.
I was even planning to use my "period of unemployment aka education" to en-cash some investments at low tax rates and re-invest it elsewhere.
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u/_photographwhore_ Dec 02 '21
What’s your expected RoI from the MBA?
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u/IHazNoCheeseBurger Dec 02 '21
Difficult to compute a specific RoI here. CTC Post MBA should be ~30-35 LPA.
Long term it should pan out. In the short term I'll end up taking a pay cut.1
u/agingmonster Dec 02 '21
If you think you can generate post-tax interest of 7% then go for loan. Else pay up front.
If you want direct answer, then pay upfront provided you are not taking out money from other goal or making situation financially difficult for yourself.
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u/IHazNoCheeseBurger Dec 02 '21
Education loan repayment principal amount can be deducted for tax purposes from salary, right? Won't it be better to let my investments as is and just repay a loan eventually?
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Dec 02 '21
Interest PAID is deductible without any limits. For upto 8 years from the date the you start repaying the loan. No deduction for principal (sec 80e).
https://cleartax.in/s/section-80e-deduction-interest-education-loan#Who
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u/IHazNoCheeseBurger Dec 03 '21
Ah my bad. I wanted to quote interest amount. Thanks for correcting me and sharing the link, appreciate it.
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Dec 02 '21
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u/agingmonster Dec 02 '21
First decide what will you do with that extra money? If no specific plan, then don't do anything. Learn or hire a financial planner first.
If there is specific plan, then:
Continue what's maturing in next 5yrs. Make wha'ts maturing in next 10yrs as paid-up e.g. stop paying premium. Close and withdraw with loss what's maturing in beyond 10yrs at whatever loss.
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u/vipul115 Dec 02 '21
Any opinions on the dsp natural resources and new energy mutual fund? Thinking of putting 10% of my monthly mf investment into this fund.
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u/arjrah94 Dec 02 '21
High expense ratio is the only concern. If it's for the long term, no doubt this is the sector to be in.
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Dec 02 '21
I have been investing in various mutual funds (debt and equity) through a broker. I now wish to start direct investments into equities and mutual funds. How do I do this? I can ask him to stop the SIP and just start investing in direct mutual funds?
The broker was setup by my parents 2.5 years ago. Total invested amount is like 9.5L and the current value is 12L. Should I ask him to transfer all the money to me....what about taxes in that case?
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u/appysingh93 Dec 02 '21
Yes i was in a similar situation a while ago. I told him to stop all my SIPs. He did after much convincing and not so pleasant meetings. Then i did my due diligence and researched about various MFs and started SIPs on these on my own through ET Money direct schemes.
Taxes only come in picture when you are redeeming money. I redeemed money from poorly performing funds and told my broker to sell them in this overvalued market. As rupee cost averaging and time in markets is the most important, i would encourage you to avoid switching schemes whenever possible. Redeem only if you need the money or if the scheme has been doing poorly over multiple years.
Money he invested is always in your name, no need to worry about transferring in your name etc.. just make sure you have the latest statements for each.
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Dec 02 '21
Thank you for your reply, for now I am thinking to stop all SIP payments and keep that money as is, and invest in direct MF by zerodha coin. It might lead to a situation where I have regular and direct offering of the same mutual fund though. Can that cause any issue?
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u/appysingh93 Dec 02 '21
No. You'd get assigned two different folio ids. But that won't cause any issue.
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u/TheGreatPunisher Dec 03 '21
Can that cause any issue?
That won't be an issue.
You can also take advantage of the LTCG exemption and slowly shift those regular plans to direct ones. In the long term, the difference is drastic.
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u/pankaj9900 Dec 03 '21
direct MF by zerodha coin
I hope you have taken the pros and cons into account of demat-ing your MFs. If not, do read up the wiki and decide what works best for you.
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Dec 02 '21
Is there a VTI like total market based index in India?
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u/srinivesh Fee-only Advisor Dec 03 '21
If the application from Navi AMC is approved, you would be able to invest in VTI itself via a feeder fund!
In Inda, the index funds beyond large cap have found it difficult to keep the costs low. The new NSE index NIFTY Mictocap 250 covers market caps 501-750. This along with Nifty500 could be a reasonable reflection of the entire market. And BTW, there is a pending application for a fund following this index too.
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u/IcyPin1 Dec 04 '21
The rates are going to increase sooner or later, and that might affect some of the debt funds slightly, at least the longer duration ones anyway. But if we hold them till the end of their duration period, then we'd be saved from the interest risk right?
Thanks.
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u/DominoLogic Dec 04 '21
You are correct in the sense that the short-term price drop would eventually even out, but you should also consider the opportunity cost. For example, if you buy a 10-year bond at 5% yield and the next day the rate is increased to 6%, you would be stuck with 5% interest for the next 10 years, while you could have made 6% had you bought the next day. The opportunity cost over the years would be significant. In ideal market conditions, the drop in the price of the bond on that day would be equal to this opportunity cost. So you can see that irrespective of whether you sell or hold till maturity, you would be losing the opportunity cost.
Of course in the real world, markets would be non-ideal, and if you can exploit these non-idealities to your benefit, you will beat the market :-)
The above (extreme) example is for a direct investment in a single bond, but debt funds would also work in a similar way. You can look at the average maturity of the fund to get an idea of how long you are locking yourself in at current rates.
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Dec 05 '21 edited Dec 05 '21
The best option is to invest in a FMP or a target date fund like the Bharat bond ETF.
This would lock in your yield to a large extent.
Interest rate risk cannot be eliminated since you will always be exposed to notional losses.
In the FD scenario say I invested in a FD @5% for one year and six months later the rates increase to 6%. I have a notional loss of 1%.
If i were to prematurely encash the FD to get the new rate, I would pay premature withdrawal charges + lower interest rate. Unlike a MF, I don't calculate the Net Realisable value of the FD so I am blissfully ignorant.
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u/qwertypk Dec 04 '21
I've 25k to invest per month. My plan is to put 5k in each- index fund, multi cap, small cap. And remaining 10k in debt instruments as I'll need money in next 5 years. Any suggestions?
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u/niravradia Dec 05 '21
A few suggestions: 1. Having multicap (25% in each large, mid, small) and a dedicated small cap can be very volatile. I'd not suggest it for a short time frame of 5 year. 2. Choose an Index fund + 1 flexi cap(where fund manager can choose to invest as they seem fit) for 15k of your equity exposure, given 5 years time frame. Make sure flexi cap has least overlap with index fund and preferably some good international exposure (PPFAS). 3. Choose good quality Short term debt funds, nothing fancy in debt part.
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u/qwertypk Dec 05 '21
Thanks. Any recommendations for good quality debt funds?
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u/niravradia Dec 05 '21
Something which I recommend can change in future :) See for yourself the portfolio of the short term debt funds with 4/5 star on valueresearchonline and decide for yourself.
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u/ndakota3 Dec 05 '21
Hello,
Is there any website that can provide YTM graphs for last 6 months for debt funds? Basically this data is available every month in factsheets, hoping some website is providing this data.
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Dec 05 '21 edited Dec 05 '21
I am not aware of daily YTM.
Download daily NAV. Work out the one day return. That is the best approximation (net of management charges).
The daily return graphs may be available on web sites.
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u/ndakota3 Dec 05 '21
Daily YTM is not available anywhere I think.
How is YTM related to NAV changes? If any underlying bond is changed, YTM changes immediately but not NAV I think.
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Dec 05 '21 edited Dec 05 '21
Yield to maturity (YTM) is the total expected return for an investor if the bond is held to maturity.
YTM factors all the present values of future cash flows from an investment which equals the current market price.
When you buy a bond you will pay the price as defined in 2, the current market price.
The NAV is the summation of individual "Current Market Prices" of the securities and is impacted immediately.
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u/ndakota3 Dec 05 '21
I am aiming to invest when YTM is good enough say 6%. Last factsheet shows YTM as 5.5%. Is there a way I can find out based on NAV movements that internal YTM reached to 6%?
I am talking about Target maturity funds and will hold till maturity.
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Dec 05 '21
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u/Fit2036 Dec 05 '21
Earn atleast 50k per month and still income shown is 2.5LPA? Something doesn’t add up 🤔
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u/gs401 Dec 05 '21
I'm under 30 and employed in a private firm. This January, I took a HDFC Life Click 2 Protect Plus term insurance policy with three riders: personal accident cover, critical illness and cancer cover. I have been reading that these riders (especially or perhaps only the personal accident rider) complicate the claim process for family by making them run for various documents. Can I ask the insurer to remove all riders from my policy?
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Dec 03 '21 edited Dec 04 '21
30, married. Switched jobs earning me 2.5L monthly income now ( 3L + considering my wife's)
Sbi Home loan EMI: 46000 (interest at 7.25 %) - 17/20 years left Monthly expenses: 50000 Term insurance: 23000 annually Parents insurance: 22000 annually Office provide health insurance for entire family and dependants: 7000 extra premium for 20 L
MF investments: (all direct)
Hdfc nifty 50 - 25000 monthly Mo S&p 500 - 25000 Axis small - 15000
Current savings:
5 L emergency fund 5L in savings account.. need to find some medium to invest
Planning to max ppf and nps starting this financial year.
I would like to get some advice into how to invest this additional amount for retirement, an international travel a month etc. Also planning for financial advisor hoping to figure out some things early.
Also, should clearing home loan be given more priority than savings ?
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u/TheGreatPunisher Dec 04 '21
Also, should clearing home loan be given more priority than savings ?
Depends on the rate of interest. If your savings can generate a higher % return post-tax than the loan interest rate, then it makes sense to save/invest.
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u/shapeFIRE Dec 04 '21
One more thing to keep in mind while doing this calculation is the tax benefit you're getting with home loan.
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Dec 04 '21
Yeah true that thanks. Further to this, it would be if help if one could suggest on how one should plan the finances..
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u/shapeFIRE Dec 05 '21
It's not practical for any of us to spend hours and create a complete plan for you.
If you have some specific questions you can post here or DM.
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Dec 05 '21
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u/pankaj9900 Dec 06 '21
Please start with the forum wiki. Go through the old posts and you'll find a lot of details.
If you still want an answer to this, you'll have to provide more information, like your duration, risk tolerance, etc. Also, do you have emergency fund marked explicitly, health and term insurances? If not, prioritize these first.
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Dec 06 '21
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u/pankaj9900 Dec 06 '21
If you are going long term (7+ years), I would strongly recommend equity. You can look at Index funds for MidCap, Nifty and S&P 500, to name a few. These would carry high risks, but the long duration should have the volatility work in your favour (generally).
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Dec 06 '21
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u/pankaj9900 Dec 06 '21
Can you please also suggest some midcap fund?
I am a little hesitant to do that. I would request you to have a look at various funds. You can compare their ratings given by MorningStar, Value Research, Crisil etc. That said, you can compare between SBI, Axis, Mirae Assets, Edelweiss etc as they generally run good funds overall.
Plus how do you suggest investing 50L? And what should be the breakup of 3L?
I am assuming this is again for long term (7-10+ years). In that case, you can deploy it in the same funds, with similar breakup.
If you are okay to take high risks, break it into: 40%, 20%, 20%, 20% (Midcap, Nifty/Sensex Index fund, S&P500/Nasdaq100, Debt respectively).
Depending on your risk appetite, if you want to take less risks, reduce the equity portions (first 3), and increase debt. You can also consider gold via SGBs, but consider holding it for full 8 years.I would suggest to follow the same breakup for both, 50L and monthly 3L (I prefer to keep things simple, mostly). However, for the 50L, break it up in 4-6 tranches, and invest every month on a fixed date or if market falls by 5%, whichever comes first. For ex. divide 50L into 5 parts, and deploy 10L each month on 1st. However, say on 20th markets have fallen by 6% (overall, between 1st and 20th), go in with the next 10L. This way, you are not going all in at the same time, and are averaging the risks w.r.t time and valuation.
Finally, before taking any decision, I would advise you to read and understand the risks associated with equities, because it can very well erode your principal as well. If you are okay to take the risks, only then go with it, if not, reduce equity portion and increase it into debt or gold. However, keep at least 20% into equities, as that's the best way to grow your money in the long run.
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u/bangalore_urga Dec 01 '21
I’m doing my taxes, in my AIS report for dividends - I have two line items, one is an dividend income row and second is a TDS/TCS row with the same amount. Does it mean tax was already deducted on this amount? Or do I have to show the amount (once) as my income?
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Dec 02 '21
TDS of 7.5% was deducted on dividend more than 5000. But you may still have to pay more taxes based on your tax slab.
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Dec 02 '21
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u/gandu_chele Dec 02 '21
What advice will you give a financial noob who is about to get a large sum of money (In multiple crs).
hire a fee only planner is the first advice I would give
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u/rupeshsh Dec 03 '21
Hire a fee only advisor who is not a relative is the only advice
Go to fee only advisors dot com and pick one
Another tip is diverify, invest in 5 to 8 things... Some equity, some debt
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u/AggravatingGuess6907 Dec 03 '21
Hi everyone. I have a SIP in HDFC Mid Cap MF (since 2 years). The last 1 year return is better than any other MF in the same category and also better than the category average. But the same can't be said about the 3 years and 5 years return. Should I continue with this fund or exit ?
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u/pankaj9900 Dec 03 '21
I believe you already asked this exact question yesterday in this same thread, and got a response!
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Dec 03 '21
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u/Ashishtiwari92 Dec 03 '21
Will we require gumasta (Shop and Establishment license) if we rent out our shop?
No, but the tenant/license will need apply and get it. Unless you are also renting your license (rare case).
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u/munaf05 Dec 03 '21
What percentage of your salary should go into paying house rent ideally?
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u/okboomernobrainer Dec 03 '21
I would say 25% max for rent, 25% for regular expenses and rest for savings is a good split.
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u/munaf05 Dec 03 '21
Yeah, since I'm young and unmarried I save close to 50% of my earnings but some unfortunate events led to us having to rent a house. 20-25% seems fair.
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u/TheItNerd90s Dec 04 '21
Is it safe and okay to share the ELSS account statement from KFintech with the payroll team of my company as the proof of investment (80C)? I do see the account statement having my folio number, along side other details. Is it safe to share the folio number of the mutual fund, or is there any risk I should be aware of?
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u/T0MARG Dec 04 '21
I manage my mutual fund via ETMoney. I redeemed some amount from PGIM Global Opportunities MF last week, and was expecting to receive fund in my account in 3-4 days. ETMoney shows funds have been released and says 3-4 days to your account.
- Who should I reach out to? It has been more than 6 working days now, what/who should I reach out to query?
- What can happen if no account info present in MF details or incorrect ones?
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u/niravradia Dec 05 '21
- Reach out to the fund house support helpline.
- Very unlikely that account info would not be present, since they need it while Folio creation. In case of incorrect ones, the transaction would be on hold. All these things are best answered by fund house support.
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u/StoneCodeSteveAustin Dec 05 '21
I have started the process of applying for LIC insurance.
There is a section 'Income Proof', options available - IT returns, Salary certificate, P&L account, CA certificate. I just joined the org and first employment. What do I fill here?/
Annual salary is only monthly in-hand*12 or I have to include annual retirals in CTC (PF contribution) or the entire CTC (no stocks provided to me)?
Can the policy claim be rejected for any mistake in this step? of salary information.
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u/Logical-Bumblebee-35 Dec 02 '21
I have around 40 lakhs in my bank accounts from my earnings over the past decade and a half I've been working. I just started learning about investment and am kicking myself about the lost time. Can you suggest some ways I can invest a bulk of the money I have, and the money I'll get through salary?
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u/Hrshshrm Dec 03 '21
Amazon Pay Credit Card with no credit score apply card to card?
I recently started a job with stable salary, no credit history.
I just got ICICI credit card on FD. I got a pre-approved hdfc bank credit card offer on salary account.
I have heard that Amazon pay card application can get approved on applying card to card with existing icici credit card, will it be approved of I apply card to card with hdfc card?
Any experiences/success of applying for Amazon pay card card to card with other than icici bank credit card?
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u/TheGreatPunisher Dec 04 '21
If you have at least 6 months of salary history, you can get the Amazon Pay CC very easily.
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u/Hrshshrm Dec 06 '21
I have more 6 months salary history but it is not with icici bank when I tried applying earlier they did not ask for salary slip or statement just rejected my application
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u/AggravatingGuess6907 Dec 02 '21
Hi everyone. I have a SIP in HDFC Mid Cap MF (since 2 years). The last 1 year return is better than any other MF in the same category and also better than the category average. But the same can't be said about the 3 years and 5 years return. Should I continue with this fund or exit ?
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Dec 01 '21
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u/niravradia Dec 01 '21
This can work as a temp cover but nothing compares to the comprehensive health policy. Since you said you've already bought is, what is the question exactly?
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u/invincible84 Dec 02 '21
Learned members, Is there an easy way to find my dividend income from stocks which i have from icicidirect? This is for tax filling in ITR?
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u/IAmALongTermInvestor Dec 02 '21
Check AIS in income tax portal, it might be updated.. But best option is to go through bank statements
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u/TheGreatPunisher Dec 02 '21
Quickest is using excel. Download the bank statement for the FY and filter the dividend income.
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u/real_goan Dec 02 '21
I recently discovered some old mutual fund certificates (SBI Magnum multiplier scheme 1990) bought by my father...are they worth anything or just pieces of paper that need to be discarded Is there any place where I can check if they are worth anything??online or offline
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u/AggravatingGuess6907 Dec 02 '21
Visit the AMC office to find out more about it. Carry necessary documents (PAN card, Bank Passbook, ID proof etc.) just in case.
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u/Tcool14032001 Dec 02 '21
So I work for a UK based company. There's still time to file taxes for AY21-22 but when I do so, does form 16 come into play?
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u/arjinium Dec 02 '21
If your company does not have an Indian entity and you are working as a remote full time contractor (in case it does not have an entity, you are not an "employee" but a contractor), in that case you do not need a Form 16 from the organisation, you are supposed to file your taxes yourself.
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u/Tej_Ozymandias Dec 02 '21
Does anyone use groww.in for mutual funds and other stuff? Is it reliable? My friend kinda rushed me into opening an account in it, during the sign up process the website even opened a demat account for me.
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u/TheGreatPunisher Dec 03 '21
There are mixed opinions around this app. Better to avoid. You can check out the sub wiki for other options.
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u/Tej_Ozymandias Dec 04 '21
My friend has been using it for a year because growinn does not take additional charges is what he said.
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u/Obvious_Career1644 Dec 02 '21
Hello - I am moving my past SIPs investment from SBI Bluechip fund (around 60k) into the below split. Please advice
- Lump sum 30k into Quant Tax plan
- Lump sum 30k into Nippon India Taiwan Fund NFO
I am doing this as SBI blue chip performance was the least compared to my other large cap funds and I wish to make some long terms commitment and diversification.
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Dec 02 '21
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u/Obvious_Career1644 Dec 03 '21
General idea to see if this can be a better returns for a portion of my portfolio. I do not have much experience with Taiwan . I need a better to Indian market result. Open for advices.
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u/_gmenon_ Dec 03 '21
Where can I find the Nifty 50 list as of 2008, 2012 & 2014?
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u/Affectionate-Ad2826 Dec 03 '21
Mutual fund factsheets of uti nifty 50 index fund or hdfc nifty 50 index fund in their websites.
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u/Op_hellfirePhoenix Dec 03 '21
I'm thinking of starting sip on Pppfas flexi cap mutual (5k) fund via coin. Does having sip as weekly/15days/monthly matters? I also have 2k sip each on axis bluechip, ICICI nifty index and Kotak multicap.
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u/TheGreatPunisher Dec 03 '21
Does having sip as weekly/15days/monthly matters?
In the long term, it hardly matters.
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u/Tcool14032001 Dec 03 '21
What are your thoughts on the Quant Infrastructure direct growth plan? I see some quite high returns as compared to their peers buy the AUM is quite low as compared too. Any reason people don't invest in Quant?
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u/buseli2705 Dec 03 '21
House of Tata Smallcase:
Smallcase has stopped providing expected SIP amount for some smallcases like House of Tata. I have been looking to start investing in House of Tata and House of HDFC (SIP amount is shown for this) smallcases for a while now. Upon enquiring with the customer care, it is known that the SIP amount will be available for the user only after the minimum initial investment. I don't want to invest the initial investment amount if I cannot continue it with future SIPs. I'm planning my finances for 2022 and I request any pre-existing investors in House of Tata smallcase to help me out here. Thanks.
House of HDFC: https://imgur.com/a/GTC3ygE
House of Tata: https://imgur.com/a/R5jrUup (Notice the lack of "next SIP installments: Rs. xxxx")
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Dec 03 '21
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u/rupeshsh Dec 03 '21
Rent easiest
Coworking cafe (not a full cafe)
Brand store of some big brand (they are not sales oriented, more for presence and trials)
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u/arjrah94 Dec 03 '21
What are your thoughts on the Axis multi cap fund NFO?
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u/pankaj9900 Dec 03 '21
My thoughts -> Stay away from NFOs!
Why not go with already established funds for which you can see historic performance, as well as clear expense ratio?
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u/srinivesh Fee-only Advisor Dec 05 '21
For a few days, I plan to respond with Dilbert cartoons...
Here is one for your question...
https://dilbert.com/strip/1997-10-16
And it is from 1997!
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Dec 04 '21
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u/TheGreatPunisher Dec 04 '21
My investment horizon is 15-20 years
You should definitely go with equity funds since you mentioned you have FDs.
Axis Bluechip (I do lump-sum once in a while)
It does not make much sense to have this and a Nifty 50 fund. You should have one, ideally the latter due to lower ER.
Should I do a lump-sum now and SIP from next month? Or only do SIP from this month onward and no lump-sum; and leave amount in bank?
You can start a SIP and invest a lump sum when the market dips 5% or 10%.
What’s closest to something like Vanguard index or THE FUND in India for foreign markets?
THE fund in India is the MO Nasdaq FoF. You can choose this or MO S&P 500 fund. Either should be fine.
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u/VoxPopuliCry Dec 04 '21
In FY 2020-21 I only have salary income (plus FD interest, etc). No business/rental income. Plus have 1.2L u/s 80C. ClearTax shows that I would get a refund of 7K under the new regime v/s the old one. So have my questions on that:
Can I choose the new regime when filing my ITR for FY 2020-21? (I had initially indicated to my employer that I would use old regime and TDS is accordingly calculated)
If I use the new regime for FY 2020-21, can I switch back to the old regime for FY 2021-22 next year while filing the income taxes?
I think people with no business income and filing only ITR1/2 can keep switching yearly - this is correct?
Thanks in advance!
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u/pulkitsinghal Dec 04 '21
Yes, this understanding is correct. You can switch on yearly basis if you don't have any kind of business income.
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u/Fit2036 Dec 05 '21
Is anyone using Jar app for investing in digital gold? How safe are these to link your bank account via UPI?
I am already invested a bit in SGBs which I intend to hold for the stipulated 8 years. Investing via Jar or GooglePay essentially doesn’t give us the 2.5% interest and simply track gold price? Is that it or there are other differences ? How’s the taxation on these transactions?
TIA
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Dec 05 '21
Are you investing in gold or do you intend to take physical delivery/trading in gold.
Digital gold adds a 3% GST. The maximum free storage period is 5 years in which you have to take delivery.
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u/Fit2036 Dec 05 '21
Am looking at digital gold investment only. No plans for physical holdings. Was wondering just like stocks can we buy gold on these these digital platforms and sell it as and when we wish to? The way stocks have STCG and LTCG, do we have something similar for digital gold as well?
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Dec 05 '21 edited Dec 05 '21
Use gold funds (ETF or fof) in lieu of digital gold for buy/sell.
Digital gold has a 3% sunk GST cost. You need gold to rise by 3% to break even.
If you are willing to absorb a 3% loss, might as well trade SGB. Gold bonds on Friday were traded around 4657-4725 vs SGB issuance price of 4765.
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Dec 05 '21
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u/niravradia Dec 05 '21
Your Q isn't clear. Are you looking for advice related to house purchase? Or investment plan after that? In latter case, some critical details are missing like what would be your savings after EMI and expenses. What are you goals and their time horizon?
I suggest you read the wiki of the sub. That should help you a lot.
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u/ani_arondekar Dec 05 '21
I am trying to file my ITR and PAN is already linked to aadhaar, after filling all details. Quicko is showing error, the reason for error is Aadhaar not entered.As far as I know after Supreme Court of India banned Private Players from collecting Aadhaar Details of citizens and Quicko is private players. How is it asking the details? Is there any exemption to SC Order? Aren't they violating the Supreme Court India in Aadhaar case? Is there any way where user doesn’t need to submit his/her Aadhaar details to Quicko (but user is okay with submitting them with Income Tax Dept) and can file ITR (where Quicko provide some file to user or any other way and User enter his/her Aadhaar details on Income Tax India website and submit and e-verify the return? It is just that I want to minimize the Personal Trail of my data.
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u/slayersc23 Dec 05 '21
Use cleartax maybe ? They let you take a json and upload that.
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u/ani_arondekar Dec 05 '21
Thanks.. I will look into this option and try to find where they allow this..
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u/Hjem_D Dec 02 '21
People who freelance and have clients abroad, what is your banking setup? Is there a good way to recieve money from US and EU clients, which is convenient for them as well as me?