Dear Vj29, had u posted some more data regarding ur age, ur monthly or annual commitment towards prem. of chosen policy, ur existing investment etc., it helped us a lot to decide what is the best in ur interest. First of all i\\`m shoked with ur words.
Quote - I am shopping for a insurance cover for my new born.
Unquote - Plz. do tell me dear (god forbids) if something mishappens to ur newborn, how much financial loss ur family \\`ll have?

In fact u should have ur insurance cover & keep ur wife & new born kid as beneficiary. In ur absence, the money received from ur ins. policy \\`ll not derail ur plans for education & needs of ur child.

Anyway, u may opt either Child ULIP of HDFC (Young star) or ICICI (Smartkid) or Kotak (Headstart), or another option is to go for a combo of Term Plan for urself & Investment in MFs for wealth creation.

Choice is yours. U should decide urself how u want to reach ur goals.
Plz. update with ur views here @ MMB.

thanks

Ashal...

Dear Friend, had u posted more data like ur time frame, risk appetite, other investments etc., it \\`ll be easier to advise. Anyway on a simple note u may invest in following funds.
A. large cap funds - HDFC Top 200,Sundaram Select Focus
B. Mid cap fund - Reliance Growth
C. Multicap fund - DWS investment Opportunities, DSP ML Eq.,
D. Balanced fund - DSP ML Balanced
E. Speciality Fund - Templeton India Eq. income fund
Now comes the question How to invest in these fund. Avoid lumpsum investment of ur 3.5L in these 7 funds. Use Liq. + fund & STP Route to invest in these funds.
Plz. invest 50K Each in Liquid + funds of Reliance, DWS, Templeton, HDFC & Sundaram. From Liquid + fund of respective AMC use weekly STP (systematic Transfer plan) to invest 1K per week in ur target Eq. fund. Invest 100K in DSP Liq. fund & from there use 1K weekly STP each in balanced & Eq. fund.

The money lying in Liq. + fund \\`ll generate more returns in comparison to SB acct.

Plz. feel free to ask if u need more help.

Thanks

Ashal...

Dear krsk100, if i recall right, some 15-20days back the same product was discussed in detail here @ MMB & u may surf thru the posts to have a final call. The product itself is a complex one & even the AMC guys r finding it difficult to understand. Plz. read the detailed offer document of the product. Try to understand it, if u can understand it, plz. post ur findings here for benefit of others.

Thanks

Ashal...

Dear kath, if ur wife uses her own funds for investing in shares, there is no prob. but in case of amount as received from u as gift, whatever the profit gains 'll be added to ur income under clubbing provisions od section 64.

As ur wife is already earning, i hope her own funds 'll be there.

till her gains from shares r under the minimum tax exemption limit with all other source of income, no income tax is payable by her.

Thanks

Ashal ...

Dear 365x24x7, Here is the calculation u asked for. (Plz. note STT \\`ll not be considered for purchase or sell price)

A. Purchase price = 2100*10 = 21000
B. Brok. + service tax = 177
C. Net purchase cost = A+B = 21177
D. Sell price = 2200*10 = 22000
E. Brok. + service Tax = 185.40
F. Net sell cost = D-/e = 21814.60
G. net STCG = F - C = 637.6 Rs.
H. Tax on STCG @ 15.45% (as shares were sold thru recognized stock exchange & STT was paid at the time of sell)= 98.51 = 99 Rs. only

Thanks

Ashal...

Dear friend, Here is the calculation u asked for. (Plz. note STT 'll not be considered for purchase or sell price)

A. Purchase price = 2100*10 = 21000
B. Brok. + service tax = 177
C. Net purchase cost = A+B = 21177
D. Sell price = 2200*10 = 22000
E. Brok. + service Tax = 185.40
F. Net sell cost = D-/e = 21814.60
G. net STCG = F - C = 637.6 Rs.

thanks

Ashal...

Dear, any partprepayment of principal 'll also be eligible for 80C benefit within the over all limit of 1L Rs.

thanks

Ashal...

Dear ashal,i am very pleased to received your reply regarding tax problems.i have already filed my tax return before 31st july without mentioning f&o loss but now i want to file revised tax return stating the details of loss.i expect assessing officer will accept my revised tax return and allow me to carry prev.year's loss in the next year. thanks....

Dear Ashal, I mentioned of looking at these ratios and not calculating myself. Why I should do that when they as you mentioned are on available the web sites. Sometimes it\\`s difficult to make decisions looking at these ratios. I just wanted to have you guys opinion on this. Also I would like to ask whether there is any recommendable book. Thks Zapper...

Sir, Thank u very much for ur advise. With regards anusridi...

Hello Ashal, Ranjan, Ashport & Others Thumps up to you all for helping everyone on the MMB. We must try to help each other as much as possible. What do you say about looking at the ratio analysis of MF, like Beta, Alpha, Sharp Ratio, Expense Ratio, Std. deviation, P/E & P/B? I have started looking at all these but sometimes it\\`s difficult to make a decision after seeing these ratios. Is there any good recommendable book to understand all these investment strategies? Wishes Zapper...

tata aig\\\\\'s raksha has only 2420 yearly premium for 30 yrs old person for a term life of 20 yrs... just go for it...

Dear Ashal, Thanks for the reply.Some hope.Details are as follows.Would like to know best path forward. Policy: ICICI LIFETIME. Started on 24th Aug-2004,premium 20000 per month. Sum assured to begin with was 1 lakh. 100% in maximiser fund. Within a year, of the policy the insuranse coverage was increased to 11 Lakh. In Nov 2007, I shifted the whole amount to PROTECTOR fund, (Approx. 13.20 Lakhs). However monthly premiums were continued to go into maximiser fund. As on date, Maximiser fund: Units= 3431.26 @ NAV of 51.11 & Protector fund: Units= 83015.91@ NAV of 16.46. I'm NRI, premiums paid thr NRE A/C. Request tax and insurance experts to suggest best path forward. I want to withdraw the amount and have written to stop further premiums. Best regards, Prahlad....

Thnx Ashal for the link...its one stop point to compare all the insurance premiums....