Married Women Property Act-360 Degree Protection By.Pradeep Patil

More documents

Recommendations

Info

Married Women Property Act – A 360 degree protection As you know we are growing, everybody is growing, every sector is growing. Last one decade if you see the Globle Economy changes.The emerging market like BRICS Brazil,Russia,India,China and South Africa where all these countries economy has showing positive impact in the GDP. There may be many reasons for the growth, but when there is growth believe me they are walking on a fire means they have taken RISK to bring the positive impact in GDP.What do you mean by RISK- Risk of Investment Strategy Knowing action. When we are talking about the Indian Economy, I can say ours is the only country in developing economy investors FIS & Domestic Investors are finding INDIAN ECONOMY is a HEAVEN for their Investment. Why I am writing about all these things here is unless you know how we are, and will be makes lot of difference in your perceptions. In recent Government Policy of Investment, Taxation, Transperensy etc has made to think and rethink every Individual about their investment and strategy. Now every individual is cautious about their investment portfolio Now they are thinking what was their yesterday is not today but what is Today may not be our Tomorrow, then what to do? Shall I rely on my investment decision; shall I rely on my Chartered Accountant? Kindly read your Chartered Accountant is not a Financial Planner / Advisor As I interact with lot of investors, I find that some investors, particularly the HNI segment, have this habit of referring their Chartered Accountants (CA) for every financial decision including investments. I am not saying that this is completely a wrong practice, but one must also check that, is your Chartered Accountant so efficient that he can advice you on your investments or financial planning matters? By efficiency I am in no way referring to his qualification, but yes I am referring to his area of expertise. I have seen that Chartered Accountant being given god-status in some households. Once I was with an aged investor and he was looking for tax efficient returns without any exposure to equity as this was an investment for around 6 months. The investor was into highest slab bracket hence I recommended him Fixed Maturity Plan from a reputed mutual fund house. But investor insisted that I should explain the product to his Chartered Accountant. Reluctantly (because of my past experiences) I agreed. The first question that was asked by the CA was pretty basic- ―is this an openended product or a close-ended product‖. If an expert ask question like this we all know the fate. He insisted investor to go for a Bank FD saying that the mutual funds are not safe and banks are. So invest in a PSU bank. And then he went for the final kill and suggested that since equity market is in bull phase, you should take 2-3 large cap stocks and sit tight. You will make the same money in one month that this FMP would give. Although this chartered Accountant had no vested interest and was working in favour of his client but his knowledge limitations ruined investor‘s portfolio. Chartered Accountant (CA) is not a Financial Advisor Consider these following points before you refer to your Chartered Accountant (CA) for any of your investments decision or Financial Planning:
CA is an expert in accounting and tax practices. He is not an expert on assets like Equity and Debt. Also he is not an expert on tracking or researching factors which are must for any investment decisions you take. These factors can be macro like European Crisis or micro like inflation. He may have view on these as a spectator but he is in no way qualified to analyze these facts to form an investment advice. In case of individual investor, a CAs job ceases after he calculates the amount of tax that investor needs to pay. Investments to save this tax fall under the purview of your Investment Advisor or your Financial Planner. He will help you invest a suitable tax saving instrument taking care of your overall portfolio, asset allocation and other needs. CA has no role in Financial Planning. He is not equipped to assist you in your goal planning or risk assessment. Also since he is not an asset expert he cannot help you in assessing your future finances and portfolio. CAs engaged into advising on investment just does it for the sake of not losing their clients or for some monetary gains. Beware as his advice will never be comprehensive. Your Financial Planner is expected to have detail knowledge about economy and individual assets. He can also deal with tax related matters if you don‘t have too complicated financial life. Also as he is associated with you since the early stages of investments, he has a broad picture of your individual requirements. He is aware of your family needs and you get personalization. It is prudent that you take service of professional who is suited. For all financial planning related aspects, your Financial Planner is most suited. Roles of different Financial Professionals If we look at the roles or the expertise Chartered Accountants are not Financial Planners or even Financial Advisors. Chartered Accountants (CA) work in fields of business and finance, including audit, taxation, financial and general management. Financial Advisor is a professional who renders financial services including investment advice, which may include pension planning, advice on life insurance and other insurances such as income protection insurance, critical illness insurance etc., and advice on mortgages. Financial Planner (FP) is a practicing professional who helps people deal with various personal financial issues through proper planning, which includes: cash flow management, education planning, retirement planning, investment planning, risk management and insurance planning, tax planning, estate planning and business succession planning (for business owners). Role of Chartered Accountant:- 1) Taxation - A CA is an expert in the areas of taxation, both personal as well as corporate. He can help you plan your taxes well. He is well versed with the latest tax laws. 2) Auditing - If you have a business/company, he can perform an audit on the accounts and certify the same. He is authorized to do so. A FP cannot perform an audit. 3) Accounting - He is brilliant with accounting concepts, making balance sheets, reading the financials of a company, etc.
Page 1: 2017 MARRIED WOMEN PROPERTY ACT- 36
Page 5 and 6: An easy way around this dilemma is
Page 7 and 8: Taxation: This is another aspect th
Page 9 and 10: will, married women can share/part
Page 11 and 12: 3. Transparency: According to news
Page 13 and 14: Children deferred assurance plans a
Page 15 and 16: Special trustee may be an individua
Page 17 and 18: The beneficiary if major and compet
Page 19 and 20: 15) DIVORCE OF WIFE AFTER ISSUE OF
Page 21 and 22: If addendum used is of 7, 8, 9 and
Page 23 and 24: Damodar K. Shah vs Cit on 10 Novemb
Page 25 and 26: Women's Property Act of 1882. Secti
Page 38: Just by knowing MWP is not enough o
Page 138 and 139:
Frequently Ask Question
Page 140 and 141:
Answer-Kindly note that assigning o
Page 142:
QUICK RECAP OF MWAP
Page 164:
You can send your feed back to our
show all

Married Women Property Act-360 Degree Protection By.Pradeep Patil

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?