DWQA User Profile kmadhavadasQuestions(6)Answers(4)Posts(0)CommentsHi Sreekanth,Thanks a lot for your response.Yes, my query is regarding FRSB 7.15% 2020 by RBI.My objective is to have a steady monthly income in addition to the monthly income that I receive via MF/Bank FD/rental/P.O.MIS etc.In FRSB 2020, though the interest rate changes once every six months, I am OK with it as it is pegged with NSC with (0.35%extra).Just to quote an example, if I invest Rs.1Cr I will get Rs.3 lakh plus in six months.Appreciate your suggestion. On Answer for Aditya Birla Sun Life Insurance Assured Income Plus PlanThanks a lot for your help.On Answer for PAN Online Application QueriesThanks a lot Sreekanth.On Answer for Interest Earned on FDs in Co-Operative Societieshttp://www.thehindubusinessline.com/money-and-banking/vinson-kurian/article6983070.eceWhen you get a chance, will you go through this article & let me know what exactly it menas & I am not getting the point clear from this. Appreciate your help.Regards,Madhava dasOn Answer for Interest Earned on FDs in Co-Operative SocietiesThanks a lot Sreekanth for your support.On Answer for Facility for returning IndiansHi Sreekanth,I have made typing errors while mentioning financial year, sorry about that. After going through the article, what I understood is that, my first tax year (FY2017-18) & I am eligible for 1 year RNOR status as I am an NRI for 9 out of 10 previous years. I can also avail RNOR for 2nd & 3rd year as I have spent less than 729 days in India in the past 7 years. Please correct me if I am wrong.Thanks,Madhava dasOn Answer for Facility for returning IndiansI went through the article & as far as I can understood, I am eligible for tax exemption for FY 2016-17(as I was an NRI for all years preceeding 2016-17.), FY 2017-18 (as I was an NRI for 9 out of the 10 previous years) & 2018-19 as well taking the < 729 days into account. Please correct me if I am wrong. As suggested, I would consult with a chartered account too.Thanks,Madhava dasOn Answer for Facility for returning IndiansThanks Sreekanth. I am referring to Financial YearOn Answer for Facility for returning IndiansThanks a lot for the excellent & detailed explanation. I saw your note that states this is for a 30 year old non-smoker male for Rs.1 crore. As I am a 52 year old fellow, which would be the most suitable me. What would be the minimum/maximum coverage that I am going to get. Appreciate your responseOn Answer for Need advice on Retirement and financial planningThank you so much Sreekanth. I have a query about ULIPs & MFs. Both carries market risks. Both are tax savers & long term investments. As an added advantage, former carries insurance coverage (of course a bit of cost is involved) where as the latter is a pure investment scheme. Please correct me if I am wrong. Any special reason for buying term insurance plan for life cover. Appreciate your comments & suggestions.On Answer for Need advice on Retirement and financial planningMy basic objective behind investing in these ULIPs is wealth building & Insurance coverage. These ULIPs have an option to exit after 5 years, from 6th year onwards, there are loyalty additions. Your suggestions are welcome.On Answer for Need advice on Retirement and financial planningThanks a lot Sreekanth. Can contributions to ULIPs be claimed for tax deductions? Please let me knowOn Answer for Need advice on Retirement and financial planningCrop
