July 20, 2015

BasuNivesh Forum Launched-Ask us your Personal Finance doubts

I am happy to announce that today we launched the Forum in our Blog. It is purely related to personal finance and readers can ask any questions related to personal finance.

BasuNivesh Forum

You can navigate it from the header of this blog or by clicking below link.

BasuNivesh Forum

Why felt necessary to have a Forum?

Since long, I have a plan to launch a forum. However, due to lethargic attitude or for some other reasons I postponed it. Finally, I discussed the idea with Jane (My Blog designer and the person who take care of all technical issues of this blog). She, in fact, applauded my idea of the forum.

I found that when visitors visit the blog either through search engines then it may be their specific search. However, at a later stage they may feel this blog is right for them to clear the other doubts, which is totally irrelevant to any particular blog post. In that case, they have to contact me personally either using the Contact Us page or through social networks like Facebook, Google+ or Twitter. This makes one to one communication and restricted to that particular person.

However, if the same question raised by another person then he again has to follow the same route. Instead, if we have a forum, then all readers can access the earlier questions raised and they can easily get an answer or come up with new ideas on the already given solution. After all, it is a learning forum for both visitors and to me.

Hence, I decided to launch this forum.

What are the benefits?

Even though after so finding my posts, you may still have some doubts. This you can rectify it by asking the right questions. At the same time, if I am not aware of the answers, then it automatically creates a learning experience for me too. Hence, it is a learning process for both readers and me.

How to ask questions?

To ask questions, you have to create a login. Then select the categories already listed which connects to your doubts. Then ask the questions. Either I will reply or other readers who feel may have answers to your doubts may answer to it.

Some rules of Forum

  • Questions must be only related to Personal Finance.
  • Spam questions like promoting any products or their own intentions never allowed.
  • Ask a question which actually bothering you in personal finance and looking for genuine answer.
  • Try to learn as much as possible to be a good and knowledgeable investor to handle your money.

Let us learn together !!!

51 Comments

  1. Dear Sir,
    Please suggest me a plan where I can get monthly income / every month. I am 44 yrs old and on forced retirement, would be getting lump some amount of 55 to 65 lakhs. Are immediate pension annuity plan safe from Hdfc & Lic.
    Thanks and regards

    Reply
    • Dear Ray,
      Hard to say without understanding your whole financial life.

      Reply
  2. Hi Basu,
    Till today i thought
    Deposit insurance and credit guarantee scheme (DICGS) is applicable only to banks which was insured upto 1 lakh where as money invested in post office is safe and backed up government of india .But recently i read in news article (very reliable and top 1 newspaper related website EENADU in andhra) that money invested in post office are also insured only upto 1 lakh by DICGS ? is it true? Is post office money safe.Suppose if any one retire and invest say 5 crores in post office is that money guaraneteed?

    Reply
    • Dear Sandeep,
      Hard to say as there is no such declaration I found it. However, I am willing to go through RTI and find the real truth. In the meantime, if the published article gives us any notification references, then definitely I will come up with new post. Please share if you find any such information.

      Reply
      • Dear Basu,

        Here is the link…
        http://eenadusiri.net/events/post-retirement-investment-options-naBMT2y

        Please refer 4th Paragraph posted last week only .since it is written in telugu words [similar to kannada] mostly try understanding, else pls discuss with person who understand telugu. Please be come with real truth or else pls confirm is it a mistake in news article.I will also check with that newspaper /website team who handles this.

        Reply
        • Dear Sandeep,
          I can’t read Telugu even though Kannada and Telugu are bit similar 🙂 But definitely, I will look into this.

          Reply
          • Dear Basu,
            Have you got any update on the above issue related to post office not comes under DICGS?

            Reply
            • Dear Sandeep,
              No, there is no clarity and wrote an email to concerned. But there is no response.

              Reply
  3. hi Basu,

    We hold shares in a bank where it has demat (in NSDL) and now submitted transfer request to transfer shares in beginning of this month to another brokerage (in CDSL) . they said it takes 10 working days to transfer and now same completed the same Till now the shares were NOT credited in our other brokerage account (CDSL)

    When ever we call the bank guy he says he submitted request to head office and but we dont have direct access to them..

    We are worried about our shares ? could you pls help us what needs to be done? Was our money safe? Has any scenario happened earlier ?

    Reply
    • Dear Kiran,
      Raise an issue with CDSL at a higher level rather than listening to the stories of the executives.

      Reply
      • Dear Basu,

        I will contact them.What if shares not reached CDSL. then should i reach NSDL?

        Was worried i shares was safe or not as bank official said no shares in source demat account in NSDL and already transfered, but in CDSL account shares not credited yet..If shares not there in both accounts what happened?

        One of friend said about to complaint SCORES in SEBI .

        Please advise

        Reply
        • Dear Kiran,
          If CDSL also replies in negative, then approach SEBI SCORES.

          Reply
  4. Hi Dear …I am a regular reader of your website this new forum will help many. Truly appreciate your work from the core of my heart. Keep writing.
    Thanks again basu……….

    Reply
  5. I have some doubts in income tax. please clarify.
    if I spends half portion of my total turnover for diesel like expenses ,can I show the rest half as my turnover while income tax filing.

    if i do so what are the other parameters that i should arrange/take care to substantiate this.

    Reply
    • Franklings-I am not sure about how much you can spend. Contact CA.

      Reply
  6. HOW TO GET MY INCOME TAX JURISDICTION CHANGED FROM YAMUNANAGAR IN HARYANA TO JAIPUR,I HAVE RETIRED FROM MY PRIVATE SERVICE AND LIVING WITH MY SON THERE.
    I HAVE CORRECTED MY PRESENT ADDRESS IN MY PAN CARD ALSO AND IT SHOWS IN IT.
    WHAT IS THE PROCEDURE AND ITS FORMAT.

    Reply
    • Indra-Sir, contact the concerned AO of your area and request for change.

      Reply
  7. Dear Sir

    My name is raghvendra rai
    I am from VARANASI Uttar Pradesh
    I am a central government employee
    My monthly payment is 31000

    I have a four year old Daughter

    Sir

    My goal is

    30 lakh for own House after 10 years

    50 lakh for daughter s marriage after 20 year

    1.5 crore for my retirement after 30 years

    My present invests

    ICICI focused on chip 2000 P/m

    ICICI value Discovery 2000 P/m

    TATA balanced 5000 P/m

    Birla MNC FUND 2000 P/m

    SBI Magnum tax gain 2000 P/m

    What’s your opinion sir

    For achieving my Goals

    Reply
  8. Dear Sir,
    I am an IT employee and have question on IT return filling. I have long term capital gain..but while filing the IT return in drop down I am not getting itr-2 only option I am getting is of itr 01 or 4. The have filled the tax for the year but would like to pay the tax for the capital gain can you pls suggest how I can do it online. Also can I pay the capital gain tax for previous year with this year. Will there be any penalty or fine
    Thanks

    Reply
  9. I purchased ICICI Pru savings suraksha LP insurance, 7 years payment of Rs 2.5 lakhs. I need your help in knowing the total maturity amount after 12 years. Below is the maturity amount (37 lakhs) given by ICICI Pru agent, IS IT TRUE ? Or is there any difference or how much I will get??
    Please let me know.
    According to agent On maturity I will get 4 components
    * Guaranteed Maturity Benefit (GMB) i.e., Rs.1500000.
    * Guaranteed Addition (GAs) i.e., Rs.375000 (GAs totaling 5% of GMB each year will accrue during the first 5 policy year(
    * Vested Reversionary Bonus i.e., Rs.875000 (Accumulated VRB is 50% of total investment)
    * Terminal Bonus i.e., Rs. 750000 (TB is 50% of GMB)
    For this policy Vested Reversionary Bonus declared for this year (2015) 3.5 % of sum assured , for last year also it is same. Is this VRB is cumulative. i. e. total 7% as on today

    Reply
  10. Thanks for the great forum.
    Sir I am taking car laon. Proposal is accepted n I wl get the amount soon. Is there advantage of taking the check or amount or completing procedure on 30 or 31 or should I wait for 1st or 2nd of month. Wil bank charge interest for last month just for one day… Please suggest soon

    Reply
    • Atul-Please ask the same question in forum. This helps others to understand as well.

      Reply
  11. Mr. Basu

    Greetings

    Please clarify on the following!

    As i am working in MNC, I purchased a Flat in Bangalore in 2011, Now I am planning to purchase Plot for future development, Please explain about income tax implications on second plot purchase.

    Thanks
    Nagarjuna G

    Reply
  12. sir I work under Nrhm as a
    doctor on contraual basis..I
    only get salary that is fixed
    in our contract (30000 per
    month).they cut 10% TDs each month.& now given form 16A as TDs proof.
    I have no
    house,property..only have
    some FD n saving bank
    accounts,in which interest
    is 4000 total.
    please tell me which itr
    form should I fill for this
    year?

    Reply
    • Rajesh-Please don’t repeat your question. It is already answered and you can use ITR1.

      Reply
  13. Thanks for your new initiative to discuss financial related issues. My question is about Sukanya Samirithi account.
    My daughter is 7 yr old now and when my daughter was 5 yr old, i opened PPF in SBI in her name. Now when i approached to open Suakaniya account at the same branch, i was informed that it is not possible to open such account in her name because she has already PPF account. What is the relation between these two account and what is the restriction for the later one.I lodged the complaint at SBI office in Delhi and Trivandrum and SBI branch at Thrissur, Kerala ( I belongs to Kerala) but so far there is no reply from them. Even i lodged the compliant at Prim minister Website too. Unfortunately no one replied to me ? Whom should i contact to get proper reply about this issue and how can i open account.

    Reply
  14. Congrats MR Basu on your new forum, I am a regular reader of all your articles.
    I have a question , should we invest in IPO and how to choose the better and whether it will provide good returns as compared to MF in long run > 5 yrs

    Reply
  15. Great
    congratulates for a long waiting request fulfilled.

    Reply
  16. Hi Basavraj,
    First and foremost heartily congrats for launching this site.I have just started following your site almost 2 to 3 back and I could find the information and answer to our query being put in very clear and straight manner by you.It requires a great amount of time,passion and dedication to this social cause of motivating and helping people to know importance about investment.Kudos to your social initiative….
    I am one of your admirer and follower !!!

    Regards,
    Swapnil

    Reply
  17. Hi,

    I have a question. I bought a flat in Bangalore for Rx x lakhs in Dec 2009. I sold it for x+y lakhs in Jul 2015. I know how to calculate the indexed cost and can calculate the long term capital gain. The index for 2015 is not yet out.

    I may not buy/build a house now. I want to avoid tax. How much bond should I buy? From whom? Is it available at any time of the year? Should I pay any advance tax? By what time?

    The house was in joint name with my wife(house wife – but having NCD income-filing tax return). I only paid off the loan. Can I declare half the capital gain in her name?

    Thanks

    Arul Selvan

    Reply
  18. Hi,

    I am a regular reader of your website and it all started from reading blogs related to OTCP. I too had applied for online transfer of PF and is in process.Really your blogs on different subjects helped me to know many other things which i would have been unaware of.
    This new forum will help many. Truly appreciate your work from the core of my heart. Keep writing.

    Thanx and regards

    Reply
  19. Thanks a lot Basu; actually i was searching for one which is genuine and reliable. And its great to have such a platform from your side. i am a regular reader of basunivesh from last 6 months and i am assured that our financial queries will truly get resolved. looking forward to you with lot many queries soon.

    Thanks again..

    Reply
    • Abhijit-Pleasure to know about you Abhijit. Let us learn together 🙂

      Reply
  20. Thank you! Basu

    Now we have got a well-wisher on personal finance who is always ready for advice, now no worry when we have Basu…

    All the very best! (y)

    Reply
  21. Congrats for this excellent initiative.Wishing you the very best.Rajagopal an

    Reply
  22. Hi,

    I am a regular reader of your website which has provided me immense knowledge in the field of finance. Many a time I have avoided mistakes based upon your articles. Really its a wonderful website which everyone should follow. Now as you have started this forum, it will be an icing on the cake. In forum the reader can interact with you more closely and get benefited from your advise. Truly appreciate your work from the core of my heart. Keep writing.

    Thanx and regards

    Reply
  23. Congrats Basu for launching this forum. I can see couple of forums launched in last 1 month by few bloggers. It is a good direction for a blog as well as readers.
    Best of luck for your future plans. 🙂

    Reply
    • Santanu-Thanks for your supportive words and I think it helps to grow the knowledge at both end 🙂

      Reply

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