DO YOU HAVE A QUERY?

The Times of India (New Delhi edition) - - Times Personal Finance - CEO,Ba­ja­jCap­i­tal As­so­ciates Part­ner,AshokMa­hesh­waryand Part­ner,Deloit­teHask­ins&Sells

A 49% al­lo­ca­tion in the large-cap can lead to con­cen­tra­tion risk to the overall port­fo­lio. Con­sider shift­ing from Franklin In­dia Bluechip Fund to SBI Mag­num Multi Cap Fund. For the ad­di­tional 30,000, con­sider in­vest­ing 10,000 each in Axis Small Cap & Ko­tak Emerg­ing Eq­uity Scheme. The re­main­ing 10,000 can be di­vided equally among SBI Mag­num Multi Cap and the ex­ist­ing L&T Eq­uity Fund. Since the house was pur­chased three decades ago, the gain will be con­sid­ered as long term cap­i­tal gains (LTCG). You can con­sider the mar­ket value of the prop­erty as on 1 April 2001 as its cost, which would be fur­ther in­dexed by ap­ply­ing the in­dex for 2019-20. So for ex­am­ple, if mar­ket value of the prop­erty as on 1 April 2001 was 5 lakh, the in­dexed cost would be 14.45 lakh and the re­sul­tant LTCG would be @ 20%. As a res­i­dent se­nior cit­i­zen, you are el­i­gi­ble for a ba­sic ex­emp­tion of 3 lakh plus a tax re­bate un­der Sec­tion 87A on tax­able in­come up to 5 lakh for the fi­nan­cial year 2019-20. Con­sid­er­ing you qual­ify to be a res­i­dent for tax pur­poses, you will not be li­able to pay in­come tax as your tax­able in­come from all sources in­clud­ing in­ter­est on FDs is be­low 5 lakh.

I in­vest 8,000 each in Aditya BSL Front­line Eq­uity and Franklin In­dia Bluechip, 5,000 each in Mi­rae Large Cap and L&T Eq­uity, 6,000 each in Franklin In­dia Prima and L&T In­dia Value and 5,000 in Franklin In­dia Smaller Com­pa­nies per month. I want to start in­vest­ing an­other 30,000. Please guide.

I am 82. I want to sell a flat for 20 lakh, which I bought for less than lakh, over 30 years ago. What will be the tax im­pli­ca­tions?

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