vishnu (c. a. ) (32 Points)
02 February 2010my uncle has just retired from a Govt. job, He has received GPF amounting to rs. 4,88,000, Gratuity of Rs 4,3 0,000
Leave Encashment of Rs 2,60,000 and other benfits of Rs 4,12,000. How should he invest in totally secure and tax free
investments, so that his future will be safe.also he will receive pension of Rs.10,000/-pm
renu
Amir
(Learner)
(4016 Points)
Replied 02 February 2010
Dear Vishnu,
Total Portfolio will be around Rs. 16 Lacs
For Security reasons -
Investment in Post office Senior Citizen Scheme,/KKVP's/NSC's etc - around 50% of the total portfolio
For Liquidity Purposes -
Investment in Fixed Deposits - around 30% of the Total portfolio
For Higher Return& Tax Exempt Income -
Investment in Equity Linked Mutual Funds - around 20% of the total portfolio...
I know u may say that u have invested 80% of the funds under taxable schemes but my friend if u take an average rate of return of 10% then on Rs. 13 lacs it comes out Rs. 1,30,000 which is well below exemption limit...
Rajesh Poddar
(Chartered Accountant)
(321 Points)
Replied 16 February 2010
Dear Sir,
You can invest in UTI Mahila Debt Fund in name of your wife. Please check last 5 year returns given by this fund. Altough there is some risk but it is worth investing in this particular scheme by UTI. It can give you around 12-13 % p.a. return
Regards,
CA Rajesh Poddar
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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