Need Financial Planning Advice on my financial status

POSTED BY aryan ON March 12, 2014 8:54 am COMMENTS (9)

Hello Experts,

I need some help in my financial planning.let me give a brief information about myself.

Age – 34 Y

Annual sal:-7 L software job

No financial Liability

Married – House wife(No Income)

One baby girl – 1 year old.

Current saving :-65 L(From onsite opportunity and previous saving).

Currently i am maintaining 1L per annum in PPF for tax saving.

Planning:-

1.Want to purchase Home (around 50 L) in Kolkata,but have confusion…is it better to be in Rented home forever..please give feedback.Any idea for Kolkata best project currently.

2.Want to purchase term plan of 1 Crore..need suggestion which one is safest.

Currently for tax saving all money is in NRE FD (Interest tax free).

Need your suggestion how to make my financial planning.

Any suggestion will be highly appreciated.

Thanks

Aryan

9 replies on this article “Need Financial Planning Advice on my financial status”

  1. ashalanshu says:
    March 14, 2014 at 11:31 pm

    Dear Aryan, taking the same thing forward, when you are not an NRI, how can you hold NRE FDs? So how can you hold your NRE FDs till 2015 or 2016?

    Thanks

    Ashal

    Reply
  2. ashalanshu says:
    March 14, 2014 at 7:13 am

    Dear Aryan, please answer my simple question, can your resident father open NRE FDs?

    Thanks

    Ashal

    Reply
    1. aryan says:
      March 14, 2014 at 1:43 pm

      Hello Ashal,

      No he cann’t.

      Thnaks
      Aryan

      Reply
  3. ashalanshu says:
    March 13, 2014 at 3:45 pm

    Dear Aryan, I assume your father is a Resident Indian. Now can he open NRE FDs? The answer to your 2016 maturing FDs lies in your reply to my counter question.

    As rent is very low, I w’d prefer to live on rent. 🙂

    Thanks

    Ashal

    Reply
    1. aryan says:
      March 13, 2014 at 3:50 pm

      Hello Ashal,

      My parent are resident indian and i too 2 years back and will be again in May.

      I craeted FD 2 months back with tenure of 3 years.They will mature in 2017 and that’s why i asked from you that whether the interest earn on this FD is tax free or not.

      Thanks
      Aryan

      Reply
  4. ashalanshu says:
    March 13, 2014 at 11:38 am

    Dear Aryan, are you still an NRI or already back to India? If yes, when did you return to India?

    Thanks

    Ashal

    Reply
    1. aryan says:
      March 13, 2014 at 1:50 pm

      Hello Ashal,

      Thnaks alot for your reply.

      infact i am still abroad.Plan to return in May-2014 finally.

      The tenure for abroad wasfor 2 years and it will complete in May.

      Thanks
      Aryan

      Reply
      1. ashalanshu says:
        March 13, 2014 at 2:12 pm

        Dear Aryan, make sure, once you return finally, all the NRE FDs are converted to resident FDs or redeemed within the 6 month period that’s till Nov 2014.

        Regarding your house purchase v/s renting, what is the rent for the same 50L Rs. property if you opt to live on rent in the same.

        Thanks

        Ashal

        Reply
        1. aryan says:
          March 13, 2014 at 2:16 pm

          Hello Ashal,

          What about those FD’s which will mature in 2016.These are NRE FD please clear me if i will get the tax free interest benefit.

          The current rent is 12000/=.

          Aryan

          Reply

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