My uncle is around 65 yrs. Recently he has got a lump sum of Rs.2 lacs as arrears. Please suggest whether investing in land/FD/MF would be better.
If anyone would suggest a good financial planner it would be of great help.
Dear, As his age is already 65 or may be 65 in current FY. The zero Tax limit for him ‘ll be 2.25L Rs. Although not much data regarding his current income & investments is available, still for his age investment in Land is strict no-no.
Invest in bank FDs & MFs as per his liquidity requirement. Even under MFs, invest in FMPs, Bond funds & MIPs. Avoid Eq. funds for his age.