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Journalism of Courage
My age is 34 years and my annual income is 9 lakhs. I recently read a report that in Direct Tax Code the there will be no tax benefit on the ELSS. How will it impact my ELSS investments? Can you suggest 2 tax saver mutual funds?
Satish Dagade,Mumbai
ELSS still comes under Sec 80C as on date. Investments made now do not have any impact due to DTC. HDFC Tax Saver amp; Fidelity Tax Advantage Fund are two good candidates to consider.
My age is 23 years and I have joined a company at annual salary of 4 lakhs. Should I buy life and health insurance at such a young age or wait for another 5-6 years?
Mayur Sharma,New Delhi
If there are no dependants,life insurance at this stage is not required. You could instead take a medical insurance if adequate cover is not available through your employer of about Rs.4 lakhs.
I am 40 year old and my annual salary is about 28 lakhs. I have an investment portfolio of over 15 lakhs. I want to know whether it is worth taking wealth management services and if yes how to choose the best?
Athar Khan,Indore
It is not a bad idea to allow wealth management firms to manage your portfolio. While choosing the firm,please take care to find out what are the upfront charges and ongoing charges. Also,clearly understand the scope of services,including if the portfolio management services are discretionary or non-discretionary. Find out the track record of the PMS under consideration and other schemes they have managed in the past. Finally find out about their reporting and client servicing. Ask for references.
I am 55 year old and have taken VRS from the government job. I had invested my hard earned money in several stocks. I have the share certificates in paper form. Can I sell it or transfer it in paper form?
Ashok Prasad,Lucknow
These days it is mandatory to demat your shares if you want to trade. You can approach your depository and demat the shares.
Suresh Sadagopan,Certified Financial Planner
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