If One want rest of the Life ₹13 Lakh per year interest Free. Where and how much to Invest is Best now

[arpitsharma009]

Like in Annuity example in SBI If one Gives approx 2Cr then receiving 12 Lakh premium per Year is a Scheme. But the premium received its not tax Free I guess.
For Tax exemption in ITR, there has to be a long term consistent deposit like 5 years or more than whatever money as premium is received can be Tax Exempted under 10(10D). I don't know If I am Correct here, I just heard similar to it.

I request the Experts here please guide me that for a Home to have more than ₹100k/Month from Bank/Finance Scheme etc (from Trusted Company). What is the Best way they should make their Money Invested in. Even if one has to pay Huge money for 5 years or 7 Years is Ok But if they want right rom now to get 13L/pA so what should be their Investment Plan.

This is my First Post in Community. Have a good Day

 

[ShavirB]

Yes the annuity income you receive every month will be taxable. It will be part of 'Income from other Sources'

The best way to make the entire annuity income tax free would be to create multiple HUFs and keep the annual income of single HUF under 7 Lakhs. For your specific case 2 HUFs will do the job. But please know that HUFs has its pros and cons, make sure to read up on the cons before going ahead with this route

 

[arpitsharma009]

Yes the annuity income you receive every month will be taxable. It will be part of 'Income from other Sources'

The best way to make the entire annuity income tax free would be to create multiple HUFs and keep the annual income of single HUF under 7 Lakhs. For your specific case 2 HUFs will do the job. But please know that HUFs has its pros and cons, make sure to read up on the cons before going ahead with this route

My Query is not only to be tax free once the money comes to the user, but it is also about how much money to be invested and where too for making this kind of income. Please suggest something about that too

 

[arpitsharma009]

So many experts here, pls guide how much money needs to be invested What could be Good options to invest to Generate a ₹13 Lakh annually ( if possible tax free)

 

[ShavirB]

If you don't want to take too much risk, you can also explore Bank FDs - there are a lot of Banks offering Monthly Interest Payouts on FDs (AU Bank, ICICI Bank, IDFC Bank. etc). You could easily get a 7-8% annual return by investing in such FDs.

If you're investing on behalf of your parent, then Senior Citizens Savings Scheme could be a decent option, you're parents will get a 8.2% risk free annual return.

You could diversify your investments amongst all the above options to reach your target annual income

 

[arpitsharma009]

My main Point was if a person wants to get 13 lakh per annum as Income from previous investments what is the Wise way to invest and where where to invest according to you all Finance education people .

Which I have not been received. Like invest In FD some amount ABC, also Invest in Commercial Property for rented income, etc etc so that under 2Cr of investment one gets to manage 13 Lakh.

Above is just an example.. where to invest money wisely for getting that much money for survival of life is the main question. If no one knows best investment options then what's the point of knowing 5000+ schemes and hacks and Financial Knowledge. Not a taunt