About us


Our blog is for indian investor. You may get advice/articles/messages here for issues related to Personal Finance. You ‘ll get info here on Income tax for individuals,Mutual Funds,Insurance(Life & General),Estate planning, Investing, Loans, Financial Education etc.

Disclaimer:- Please consult your financial planner/advisor before acting on any info given here in this blog. The blogger/blog ‘ll not be held responsible for any financial or monetary loss arising to the person acting on the INFO provided in this blog.

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22 Responses to About us

  1. Deepak says:

    Dear Ashal,

    I am new to this forum, and have recently purchased a flat in Mumbai. I am going through all your posts and must-say, they are all very informative. Appreciate all the kind effort. A few questions from my side, if you could pls help with, at your convenience:

    Can the Stamp duty, Registration, Service Tax & VAT charges be claimed under Section 80C for an Under Construction flat in Mumbai?
    If yes, will this all be a part of the combined maximum limit of Rs 1 lac under section 80C or will this 4 charges be considered over and above the Rs 1 lac limit?

    Property insurance:
    I understand from your earlier posts that property insurance is mandatory for taking a loan from SBI. However, do i have to take this property insurance now (when the flat is under construction) or would it be required to be taken only once I get the possession?
    Is taking a property insurance a pre-requisite for loan disbursal from SBI even for an Under construction flat? I have applied for SBI loan with all documents, but no property insurance. What will happen in this case?
    Also, which is the best choice (cost-wise and considering other paramters) for property insurance: SBI or some other option?

    Loan insurance:
    I understand from your earlier posts that this is not mandatory for SBI home loan. Am I correct in my understanding?
    However, also, considering that I do not have any real dependants on me, is it necessary for me to take a loan insurance or atleast some life insurance (Pls note that I am basically totally uninsured, except for the employer insrance). Pls share your opinion.

    New rule for 1% TDS for House purchase:
    Does the TDS calculation include only Flat price on ST & VAT also?
    Will SBI deduct the TDS at every disbursal OR Should i deduct the Total TDS (on my payment + loan payment from Bank) from my amount only?

    I currently stay in a rented flat in Mumbai. After getting the possession of the flat purchased by me (in the same city, Mumbai), is it possible for me to claim both HRA benefits as well as Loan benefits for taxation purposes?
    Is it necessary for me to have a justifiable reason for me continuing to stay on rent even though I have a owned house here? Is it also necessary that the rented flat should be closer to my office than my owned flat? What (if any) are the criteria?
    Also, assuming my loan payment is done for 6 months for FY 13-14 (Oct 2013 to Mar 2014) and I get the possession in FY 13-14 say on 1st Jan 2014:
    • Can I claim 6 months full interest this year (Oct 2013 to Mar 2014), since during the year the flat was partly under construction.
    • Regarding the Rent income from the flat for 3 months (Jan 2014 – Mar 2014), if I show Deemed rent, will there be any proof required for this? Is there some method to calculate this deemed rent per month?

    Thanks a ton, and appreciate the effort.

    Regards,
    Deepak

  2. Jagan says:

    Hi,

    I have one query. I purchased an apartment which is under construction (Expected date of completion is Dec-2014) for 50 lakhs. I have taken MaxGain HL account from SBI for 40 Lakhs.

    Till today, I have taken 10 Lakhs from SBI and I am paying EMI for 10 lakhs. Assuming I have transferred 10 lakhs to my OD account such that my available loan balance is 40 lakhs (total loan amount), should I have to pay EMI for the remaining months till the next dismemberment from the builder?

    • ashalanshu says:

      Dear Jagan, Thanks for writing in. Did you mean parking the 10L Rs. in MG account even during partial disbursal stage? If my understanding is correct, NO, your EMI ‘ll not stop but the interest part of your EMI ‘ll keep on accummulating in MG acct.

      Thanks

      Ashal

  3. Anuj says:

    Hi Ashal,
    I have one query,I am thinking of investing in E-Gold through NSEL, and going to trade frequently .Is it safe and profitable .
    Any suggestion..

    Thanks,
    Anuj
    anuj.iiit2007@gmail.com

    • ashalanshu says:

      Dear Anuj, please do it at your own risk as I can not comment on your trading skills. Safety is there in terms of fraud for physical Gold, if you are asking for. Profitable or not, I can not decide for your trading positions.

      Thanks

  4. prit says:

    Hi Ashal, First of all thanks for providing useful information. I have one question. I am leaving on rent in pune and want to buy house of 50Lakh with home loan. So is it better to buy 1 small amount house of 2-3Lakh in my native place of home loan and then after some time buy second 50Lakh(with second home loan) in pune. With this i can save tax on whole interest of Second home. Can you suggest what will be best approach?

    • ashalanshu says:

      Dear Prit, as you are going to use the Pune house for your self consumption, the max. limit ‘ll be restricted to 1.5L Rs. for you & another 1.5L Rs. if your wife is also working & co-owner & co-borrower.

      Thanks

      ashal

  5. rohan says:

    hello all of u

    i hv a quiery abt Critical illness policy…….
    actually i want to buy CI for my family…wht should we remember b4 buying this policy??? which one is best company ? shall i buy 2 critical illness policy each 5 lac… is it gud ??? wht do u think ???
    Bharti-Axa , Aviva , Bajaj i m confused abt abv companies whch one is beter thru CLAIM RATIO OR PREIUM …

    some details i hv found…

    Mother-43yrs-

    Bharti-Axa(20 diseases)-S.A.-5LAC T-1yr prem.-5450/-
    Bajaj ( 10 diseases)-SA-5Lac T-1yrs prem.-4495/-
    AVIVA (12 Diseases) -SA-5 Lac T-22yrs prem.-3871/-
    AVIVA (12 Diseases) -SA-10 Lac T-22yrs prem.-6730/-

    Self-31yrs

    Bharti-Axa(20 diseases)-S.A.-5LAC T-1yr prem.-/-1675/-
    Bajaj ( 10 diseases)-SA-5Lac T-1yrs prem.-/-1685/-
    AVIVA (12 Diseases) -SA-5 Lac T-30yrs prem.-3871/-
    AVIVA (12 Diseases) -SA-10 Lac T-30yrs prem.-3045/-

    wife-24yrs

    Bharti-Axa(20 diseases)-S.A.-5LAC T-1yr prem.-/-1225/-
    Bajaj ( 10 diseases)-SA-5Lac T-1yrs prem.-/-1124/-
    AVIVA (12 Diseases) -SA-11 Lac T-30yrs prem.-2336/-

    wht should we take ?? 2 policy each 5 lac or one policy ???

    sooooooo confused ….

    • ashalanshu says:

      Dear Rohan, are you sure the info provided by you is right? The reason is – Prem. figures are 1Y & then 22Y for mother, 1Y & 30Y for you & 1Y & 30Y for wife from different insurer.

      Please check & rectify the mistake if any.

      Thanks

      Ashal

      • rohan says:

        The info provided by me is right-Bz frm last 10 days i worked on tht… i used abv companies site to get this info…..
        If any thing wrong….???? will u help me to choose better company …. or shall i take 2 company policy each 5 lac…..

        • ashalanshu says:

          Dear Rohan, please go with Aviva, if you feel secure about it.

          Thanks

          Ashal

  6. Vivek says:

    Sir, i would like to invest in a Pension plan. I am 31 yrs of age and i wish to get my pension from 55 years. The monthly assured pension i am looking out is Rs 50,000. Kindly assist me for the best plan available today. I have taken an pension plan from Bharti AXA “”Dream Life Pension Regular Premium” and i pay Rs 1200 pm since 2008 but i am not sure if its a good plan.

    • ashalanshu says:

      Dear Vivek, Please back calculate that to earn 50K mly after 24-25Y from now on wards, what should be the target corpus? 50K mly means, 6L Rs. yly. @ 6% yly rate, the corpus size comes out around 1 Crore Rs. @ 8% yly growth rate, to reach this 1 crore Rs. you need to invest 12K Rs. mly. @ 10% it ‘ll be 9K Rs. & @ 12% growth rate it ‘ll be 6K Rs.

      Interestingly, I do not know that ‘ll this 50K after 25-30 years be sufficient or not for your post retired life? Please check on your own for the impact of Inflation (the silent killer).

      Thanks

      Ashal

  7. vimal vinod singh bhadauria says:

    sir,
    I have posted a query in forum as SMALL INVESTOR’S BIG PROBLEM .i want your valuable sugetions . Plz advice me what to do????
    Thank you sir.
    Vimal

    • ashalanshu says:

      Dear Vimal, Please read my reply & answer back my posted query in response of your basic query there in the forum.

      Thanks

      Ashal

  8. Thirumala Naik says:

    Dear Ashal,,
    I am Thirumala Naik, and I need your valuable suggestion on my ULIP policy.
    I have taken SBI Life Smart Performer ULIP policy.
    It is for 5 premiums and each premium of 2 Lakh INR per year.
    So for I have paid one only premium and my second premium is on due to pay.
    Current NAV is 9.25 and Highest NAV reached is 10.73.
    Sir, I am in great confusion whether to continue this policy or to terminate.
    I kindly request you for your advice and your thoughts on this policy.
    Thank you,
    Naik

    • ashalanshu says:

      Dear Thirumala Naik, these highest NAV Gtd. are the worst products one may invest in. The Insurance part is almost negligible & for investment part nothing good to say.

      Why I’m saying so, please understand that these plans ‘ll try to protect the recent highest NAVs by shifting money from Eq. to Debt. From your own example of 10.73 the till date highest NAV achieved, a good part is already shifted to debt as the recent NAV is below to 9.75 level & to regain 10.73, over the period the money in debt ‘ll increase the NAV slowly to that 10.73 level.

      The money is only on one way traffic from eq. to debt in these products. If market goes up, it results into a high NAV & to protect that NAV level, the money ‘ll go in to Debt. If market goes down, the prev. NAV was a higher & to protect that the money ‘ll again move to debt.

      How this policy fulfills your portfolio or where it fits in to your over all finance, you have to decide.

      In my opinion, please make this policy a paid up one or surrender one. please read the policy documents or contaxct customer care for the details.

      Thanks

      Ashal

      • Thirumala Naik says:

        Dear Ashal,
        Thank you for your advice.
        By discontinuing this policy I will be end up with no insurance and no investment.
        So I need to start every thing from scratch. So please guide me with some good investment and insurance plan. My annual saving is about 1.5 lakh.
        Thank you,
        Naik
        thiriumala.naik@gmail.com

        • Dear Thiru, first of all purchase an adequate term cover for you. How much sum assured? Well only you can answer. For a start, 10-12 times of your annual income is OK.

          For investment, please invest in PF, PPF & MFs.

          Thanks

          Ashal

          • Prakash says:

            Hi Ashal,

            Thanks for answering all the questions which helps a lot of people. I could not able to post my questions on other thread so i posted here.

            I have below questions,

            1. I have requested for SBI maxgain home loan and it got sanctioned and added to my SBI salary account. but the name is \”Max gain- Surakhsha\”. I just want to know whether this is the correct max gain home loan which we discussed a lot or it is some thing differnt.

            2. They have mentioned as Maxgain Home loan August 2012, is it same as max gain or any thing has been changed in 2012?

            3. What are the things i should look into before signing all the document or what should I ask to verify all the documents for my Max gain loan.

            Please answer those the above questions.

          • ashalanshu says:

            Dear Prakash, thanks for writing in. Here is reply to your queries.

            1. the Max Gain Suraksha is the same Max Gain – The word Suraksha indicates that insurance policy has been attached with your loan. This is amortgage term cover from SBI Life known as Rin Raksha.

            2. Please read point 1 reply above. It’s same.

            3. Please look into prem. for the insurance policy charged from you towards property as well as your life (Rin Raksha). the Rate Of Interest, Term.

            Thanks

  9. Asav Patel says:

    Hello,
    Today only I accidentally visited your blog. It’s amazing.
    Your posts are truly amazing. I really appreciate your efforts.

    I am Asav Patel, a personal finance blogger from Ahmedabad and run my blog MyJourneyToBillionaireClub.com

    I also run a personal finance forum – Investta.com where lots of Indians visit daily to discuss various issues of personal finance.

    I am heartily invite you to kindly join my forum Investta.com and share your thoughts and reviews in various discussions.

    It will be your great help to fullfill my mission of spreading financial awareness among all the Indians.

    Thx & Keep in touch….

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