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    Motilal Excel Plan

    Uploaded by

    sourajit kundu
    1) The document analyzes the financial situation of Prem Ranjan, his wife Sudha Ranjan, and their family wealth. 2) It provides details of Prem and Sudha's individual incomes, expenses, savings, insurance policies and assets. 3) The assistant then provides advice on goals for the family and how to distribute and invest their wealth and savings to achieve financial security in the future.

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    Motilal Excel Plan

    Uploaded by

    sourajit kundu
    11 views8 pages
    1) The document analyzes the financial situation of Prem Ranjan, his wife Sudha Ranjan, and their family wealth. 2) It provides details of Prem and Sudha's individual incomes, expenses, savings, insurance policies and assets. 3) The assistant then provides advice on goals for the family and how to distribute and invest their wealth and savings to achieve financial security in the future.

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    motilal excel plan

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    1) The document analyzes the financial situation of Prem Ranjan, his wife Sudha Ranjan, and their family wealth. 2) It provides details of Prem and Sudha's individual incomes, expenses, savings, insurance policies and assets. 3) The assistant then provides advice on goals for the family and how to distribute and invest their wealth and savings to achieve financial security in the future.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    11 views8 pages

    Motilal Excel Plan

    Uploaded by

    sourajit kundu
    1) The document analyzes the financial situation of Prem Ranjan, his wife Sudha Ranjan, and their family wealth. 2) It provides details of Prem and Sudha's individual incomes, expenses, savings, insurance policies and assets. 3) The assistant then provides advice on goals for the family and how to distribute and invest their wealth and savings to achieve financial security in the future.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    You are on page 1of 8

    PREM RANJAN Salary (As per New tax regime)

    Income from Salary Monthly Anually


    Net Inhand Salary 125,000 1,500,000

    TAXES 187500
    ADD: Health and Education cess @4% 7500
    TAX PAYABLE 195000
    NET INCOME IN HAND 1,305,000

    SUDHA RANJAN INCOME ( AS PER old TAX REGIME )


    Income from Buisness and Profession Monthly
    Buisness Income 75000
    Rental Payments 24000
    Gross Buisness Income 51000
    Less : Taxes 2496
    Net inhand Income 48504
    w tax regime) PREM RANJAN SALARY (AS PER OLD TAX REGIME )
    AMOUNT RATE Tax Payable
    0-250000 NIL 0
    250000-500000 5%(250000) 12500
    500000-750000 20%(250000) 50000
    750000-1000000 20%250000 50000
    63400 30%63400 19020
    TAX PAYABLE 131520

    Computation of Taxable Income of Mr Pr


    PARTICULARS Workings Details
    Income From Salaries
    Basic + Dearness Allowance 125000*12
    IME ) Perquites u/s 17(2)
    Monthly Anually Rent free Accomodation 15% of Salary 375000
    900000 Add : Value of Furniture 10 % of 400000 40000
    288000 Motor Car facility 0
    612000 Gross Taxable Salary
    29946 Less: Standard Deduction 50000
    582054 Less: Proffesional Tax (u /s 16 iii) 1600

    Income From Other Sources

    Gross Total Income


    Less: Deduction u/s 80C
    Total Income
    PER OLD TAX REGIME )

    Taxable Income of Mr Prem Ranjan for the A.Y 2022-23


    Amount (in Rs)

    1500000

    415000
    0
    1915000

    51600

    1863400
    150000
    1713400
    Emergency Fund
    Expenses Monthly Expenses
    Household Expenses 70000
    Shop rent 24000
    TOTAL 94000
    Months of Emergency Fund 4
    Total amount required as Emergency Fund 376000
    Sudha's Buisness FD + Cash in hand 400000
    Surplus Fund 24000
    SUMMARIZED ANALYSIS OF PREM RANJAN'S FAMILY TOTAL WEALTH

    PARTICULARS
    PREM RANJAN NET INCOME FROM SALARY
    SUDHA INCOME FROM SHOP
    PREM'S PROVIDENT FUND UPON MATURITY
    PREMS OTHER SUPERANNUAL BENEFITS
    PREM'S PENSION AFTER RETIERMENT
    LIFE TERM INSURANCE POLICY OF PREM AND SUDHA
    Sudha's remaining FD account
    Prem's ancestral home ( also let out to generate income )
    Sudha's parents financial asset
    NJAN'S FAMILY TOTAL WEALTH

    AMOUNT (RS) TIME


    1305000 1 YEAR
    48504 1 MONTH
    1.5 CR Jun-23
    2400000 Jun-23
    36000/MONTH Jun-23
    10000000 Jul-05
    200000
    1.8 cr
    4000000
    Assumptions and Goals
    GOALS DISTRIBUTION OF AMOUNT
    Personal Home Rent RS 8000/MONTH Allocated through Prem's Pension
    Kriti's and Rupesh Marriage Rs 900000 + Rs 700000 Assumed after Retierment should b
    Cost of his own car (suv) Rs 1500000 It is advicable to purchase the car a
    Kriti's Acting Career Rs 15000 Sudha should help Kriti to launch he
    Vacation Rs 30000 It is advicable to save Rs 2000/mon
    Medical Insurance RS 12000/YEARLY It is assumed that Rs 1000/month is
    Ranjan should Help Sudha for growth of her buisness Ranjan should provide a portion oh

    MY ADV

    Firstly , Before Retierment Ranjan should save a porti


    Secondly, Sudha Should save atleast 20% of her incom
    Thirdly , Both Ranjan and Sudha should save the amo
    Fourtly , The amount Ranjan will receive as PPF shou
    Fifthly, it is advicable to purchase the car after termin
    tions and Goals

    through Prem's Pension


    after Retierment should be allocated through the superannuation benefits received after retierment i.e Rs 2400000
    able to purchase the car after the termination of life term insurance policy i.e 2026
    ould help Kriti to launch her acting caareer from Sudhas Income from Buisness
    able to save Rs 2000/month from Sudha's buisness in order to have vacation on a regular basis.
    med that Rs 1000/month is payable from pension amount
    ould provide a portion oh his Annuation to Sudha

    MY ADVICE FOR FUTURE WEALTH SECURITY AND INVESTMENTS

    Ranjan should save a portion of his Salary , so that he can be benifited later
    e atleast 20% of her income so that he can develop his shop in future
    udha should save the amount they will receive as life insurance premium in order to purchase a house later
    n will receive as PPF should either be invested in Mutual Funds or should be used in F.d
    chase the car after termination of Life term Insurance policy i.e 2026

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