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POSTED BY ON December 15, 2013 6:39 pm COMMENTS (5)
Sir, I am working in a GOV ORGANIZATION at a salary of 40500 pm. I invest as follow EPF-16000, LIC JEEVAN SARAL-24000 PY, TERM PLAN INSURANCE( FOR 3000000)-900PM, SIP IN MUTUAL FUND-(HDFC CHILD FUND 1000, REL BANK FUND-1500, IDFC PREMIER-2000, SBI EMERGING BUSINESS-1100, REL GOLD FUND -500). Income tax cutting is 22000 approx P/Y. now what I should do? Is my investment good? I am 41 years old . I have to construct house in 5to 6 yrs, 02 child of age 14&16 yrs at now. saving I have 1400000.
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i AM INVESTING 16000 IN PF DUE LOW RISK APPETITE. WHAT ABOUT BOTH LIC POLICY. I HAVE GROUP INSURANCE OF 3500000 FRON MY ORAGANISATION(CUTTING IS 1700 P/M). I AM THINKING TO STOP BOTH LIC( 4 YRS OLD POLICY) & TAKE SBI eSHIELD AT 18 RS DAILY POLICY. IS IT REALLY GOOD. IS ANY OPTION TO SAVE INCOME TAX? HOW(* LIKE HOUSE LOAN etc)
Dear Angu, why are you investing 16000 Rs. mly in PF?
thanks
Ashal
Hi Angu,
As you stated the PF deduction is 16,000 per month amounting to Rs.1,92,000 per year. I suggest you should reduce our VPF portion and have the PF deduction limited at about Rs.8,000 per month.
Cut down on your various SIPs’ to only 2. You may choose to stop Rel Bank and Rel Gold Fund. Divert this amount to IDFC and SBI. Also the 8000 you save by reducing VPF, start putting into these two funds.
Ashish Garg
Dear Angu, are you able to exhaust full 1L limit of section 80C or not? The taxation thing can be answered only after geeting more inputs from you.
Thanks
Ashal
yes I am exhausting full 1L limit of section 80C as PF cutting is 16000/ per month. Is other investment good for future/ req.