help required for personal financial planning

POSTED BY sachin bhat ON June 20, 2012 5:47 pm COMMENTS (13)

hi to all,
1. I and my wife both r defence employee married in 2009 and earning total amt of one lakh per month. presently we r saving Rs 35000 per month in special defence a/c which gives 8.5 interest per year,it also saves tax for both of us as 01 lakh saving inthis a/c is free from income tax .it also provides liquidity as i can take out money in two to three weeks.
2. we r also investing from last year rs 5000 each in sip (hdfc 200)- total rs 10000.
3. in 2008 before marriage i started a sip of rs 6000 per month of lock in period of 5 years to save tax . i continued with it till 2010 and then stopped it .my money is lying with my finacial planner he says i cannot take out that money before 5 years and what about tax benefits of this sip which ihave not availed .sip included(dsp black rock -rs 3000, birla sunlife -2000, kotak mahindra -1000) this was my monthly sip.
4. for both of us taxable income is around rs 5 lakhs and we both pay around rs 60000 in tax. plz help me save these taxes.
5. i also want to know whether i should invest the amt i have saved in my defence a/c around 7 lakh in market .as it is only giving 8.5 % return. plz suggest any fund which can be liquidify easily if required and gives more return.
6. i am planning to purchase aflat also around 30lakhs to 40 lakhs range in near future with loan from bank of around 30 lakhs
7. iam 32 years old plz help me plan my finances as i think i can invest more decesively but dont have knowledge.my goal is to have a bank balance of around 1.5 to 2 crore in next 12 years.

13 replies on this article “help required for personal financial planning”

  1. sachin bhat says:

    plz let me know ur email id

  2. sachin bhat says:

    sir , i could wait another six months to redeem them will it be suitable and profitable.
    secondly plz read my question and suggest me on my financial planning. looking fwd to ur reply ……………….thanks in advance

    1. Dear Sachin, my question is are you redeeming for any requirement or just you want to do it for redemption/underperformance. Be clear in your though process.

      Regarding financial planning, are you asking for paid financial services? If the answer is yes, please write a pvt. mail to me. If no, & you want to DIY kind thing, you are already getting the info in bits & pieces.

      Please decide on your own, where & how you want to move ahead.

      Thanks

      Ashal

  3. Ramesh says:

    There are way too many misconception and complexities involved in your query.

    It will be a better thing to do this professionally, rather than on this forum, will be my advice.

    Ramesh

    1. sachin bhat says:

      sir plz let me know ur questions i will answer than i will proceed to professional guidance .plz reply

      1. Dear Sachin, can you provide more details on point no. 3.

        thanks

        Ashal

        1. sachin bhat says:

          Sir, point no.3 is that when i was in aurangabad (maharastra ) in 2008 i started a sip with a local agent whom was doing it for my known persons also. As i was clueless he suggested me to start sip with lock in period of atleast 3 years and this investment i can show in my return to save money. but i never shown this sip in my incometax return.
          secondly i left aurangabad in 2010 and thats how stopped paying for sip. i asked my agent after sum time that i can take out my money which i invested in sip during that period , he said i would only be able to take out money after 3 years and that too like i paid my first sip of rs 6000 in june 2008 so i can take out that 6000 in june 2011. i cannot take out lumpsum amt. plz suggest me
          (a) whether i can take out money in lumpsum as i dont want to take in stallments . secondly will it be a happy state seeing my returns on the sip.
          (b) whether i can save taxes on this sip or when i get back the money as i have not availed tax benefits till now

          1. Dear Sachin, can you name that fund you had invested in during your Aurangabad stay?

            Thanks

            Ashal

        2. sachin bhat says:

          anything else u wanna know sir

        3. sachin bhat says:

          dsp blackrock tax saver fund-2000, kotak tax scheme-1000 and birla sunlife-3000

          1. Dear Sachin, the info given to you is correct. Each individual SIP is locked for period of 3Y. So you can withdraw money for units allotted to you till 20th June 2009. Beyond that you w’d have to wait for few more months.

            Thanks

            Ashal

          2. sachin bhat says:

            thanks Ansal i am greatful to u for ur precious advice .plz suggestme
            (a) should i take out my sip amount now or in lumpsum
            (B) PLZ ALSO COMMENT ON REST OF MY INQUIRY ON FINACIAL PLANNING.
            THANKS IN ADVANCE

          3. Dear Sachin, May I know why are you interested to redeem from your tax saver funds?

            Thanks

            Ashal

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