General Trading Chat

[Smart_trade]

LIC JEEVAN plus is not an ELSS....it is ULIP ( UNIT LINKED INSURANCE PLAN). It will give tax concessions under section 80C. It will give below average returns for first 10 years as Advisors commission which is heavy, gets front loaded...

Don't go for ULIP...better is either ELSS fund for tax concessions and appreciation and a simple term plan for risk cover.It works much better that way.Advisors try to promote ULIPS as it gives them 25-40 % commissions...don't fall for it.

ST

Disadvantages of ELSS Is it has lock in of 3 years which is the lowest in any tax saving instrument.You must invest with 5 years holding and after 3 years if there is a capital gain,it is all tax free....huge advantage for tax payers...I have been investing full 80C limit of Rs 1,50,000 per year in ELSS funds.The returns are market related...so no fixed returns.

ST

 

[copypasteaee]

Disadvantages of ELSS Is it has lock in of 3 years which is the lowest in any tax saving instrument.You must invest with 5 years holding and after 3 years if there is a capital gain,it is all tax free....huge advantage for tax payers...I have been investing full 80C limit of Rs 1,50,000 per year in ELSS funds.The returns are market related...so no fixed returns.

ST

ST Da my CA is suggesting me to make a Pvt. Ltd. firm. His talks didnt make much sense to me. So just asking How are you managing funds andhave you made a firm or trading in individual name. please answer if u feel comfortable.

 

[timepass]

Disadvantages of ELSS Is it has lock in of 3 years which is the lowest in any tax saving instrument.You must invest with 5 years holding and after 3 years if there is a capital gain,it is all tax free....huge advantage for tax payers...

Why is 3 years a disadvantage ? Seems like an advantage to me.

About ELSS, these are one time payment kind of schemes, right ? If I put in 1K this month, the next month I may put in 5k or maybe skip a month ??

Also, are ELSS hedge funds ? I mean, if the market tanks, are their equities hedged against some kind of derivatives or is it just equities ?

I have been investing full 80C limit of Rs 1,50,000 per year in ELSS funds.The returns are market related...so no fixed returns.

This limit of 1,50,000 - does it mean that one can invest upto 1,50,000 in an ELSS and get some kind of tax benefit ? What if the total annual income is not in taxable bracket ?

 

[Smart_trade]

ST Da my CA is suggesting me to make a Pvt. Ltd. firm. His talks didnt make much sense to me. So just asking How are you managing funds andhave you made a firm or trading in individual name. please answer if u feel comfortable.

Having different file for profits is better for tax planning.You can use Pvt. Ltd co,files in HUF, relatives names,etc but keep arms length. In all these so that tax person won't be suspicious. if profit is less than 12-15 L per annum, devide in family members but do it properly.

ST

 

[TracerBullet]

Why is 3 years a disadvantage ? Seems like an advantage to me.

Disadvantage vs normal Equity MF. For tax saving its adv

About ELSS, these are one time payment kind of schemes, right ? If I put in 1K this month, the next month I may put in 5k or maybe skip a month ??

Its like any MF - you can invest as you want whenever you want but you can redeem only after 3 years

Also, are ELSS hedge funds ? I mean, if the market tanks, are their equities hedged against some kind of derivatives or is it just equities ?

Of what i know, No fund has hedging. Some may put in Debt. These arejust like any other MF

This limit of 1,50,000 - does it mean that one can invest upto 1,50,000 in an ELSS and get some kind of tax benefit ? What if the total annual income is not in taxable bracket ?

It means thats max limit for tax exemption under that section ( All schemes combined ). Investment Beyond that is not exempt and will still be locked. If total annual income is not in bracket, then no need for ELSS as there is no tax - You can simple use Equity Diversified MF ( or stocks if you prefer ... )

 

[iwillwin]

Don't go or fall for ulip even if insurance agent refunds you 1 installment or 1 commission.... Elss mf scheme are good instruments for tax savings if you have not exhausted 80c limit

Insurance - buy term insurance online as it is far cheaper again....

Any CA on traderji I have one tax filing query

 

[Smart_trade]

Why is 3 years a disadvantage ? Seems like an advantage to me.

About ELSS, these are one time payment kind of schemes, right ? If I put in 1K this month, the next month I may put in 5k or maybe skip a month ??

Also, are ELSS hedge funds ? I mean, if the market tanks, are their equities hedged against some kind of derivatives or is it just equities ?
This limit of 1,50,000 - does it mean that one can invest upto 1,50,000 in an ELSS and get some kind of tax benefit ? What if the total annual income is not in taxable bracket ?

If you are going for SIP then fixed amount per month...else no such restriction.ELSS funds are not hedge funds. If not in tax bracket them invest in any diversified large stock equity funds...only 1 yr lock in and then no tax.

ST

ST

 

[Smart_trade]

We must pay IT if we are making profits....if you pay IT you have nothing to hide..andIT dept respects us,.else we will remain as petty tax evaders and they will go after such people....

1-2 laks tax bharo , 12 L white income enjoy karo.

ST

 

[Smart_trade]

TP invest karo ELSS me it is high time you start building up a good portfolio...retirement planning bhi Ho jayega....koi hospitalisation nikalta hain to 5-10 Lakhs ud jate hain....Bagwan na Kare.....but prepare for the worst.

ST

 

[TracerBullet]

What is good health insurance option? I don't need for small stuff, instead want insurance against major expensive problems. But what should be insurance amount in this case? Does 10-15L cover it?

I dont have much knowledge in insurance. From what little i read, Super Top up plans looked good. But which company/plan to go for. Exemptions/claims ratio/rent etc all make it a bit hard to choose. Any advise? thanks