Donts of personal_finance

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The Nay, Nays of Financial Planning


Please avoid

There are a few financial transaction which

a HNI should avoid at all times. They may

add to the tax burden (which already will be

high) or be a negative cash flow.


Mutual Funds < 365 days

A mutual fund with less than 365 days

(1 year) of investment will attract 10% Capital

Gains Tax.


Stock / Commodity Trading

• Both attract short-term Capital Gains

tax as an Amateur - YOU.

• Beneficial for a Professional trader• Shares considered as stock-in-trade

• Trading Income should be the Prime Income


Car Loan / Personal Loan (This does not apply if you are a Consultant)

A car loan adds

interest to an item

which depreciates over

time (whether used or

not).


Fixed Deposits

• The interests will add to your tax burden. The interests anyway are low.

• Not recommended except for Retired Senior Citizens (> 65 years old).

Donts of personal_finance

Economy & Finance

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