Hi All,
I have a couple of fundamental questions on MF. Pls help me in understanding these better:
1. If I buy a MF today (not a ULIP, not ELSS but a pure MF), can I sell it tomorrow? Though it may not make sense logically but is it possible technically?
2. How much tax will I be charged if I sell my MF within 1 year and after 1 year? Is it the same as in direct equities?
3. Typically, what are the switching charges in a MF (not ULIP)?
4. Can I buy 1 MF and keep pumping money into it as and when I want? If yes, what are the tax implications? For example, I buy a MF today for 50K. Then after, say, 370 days I put 50K more into the same MF. If sell this MF the next day how will I be taxed? Will the taxation be different for my first 50K and second 50K?
TIA
Pavan
I have a couple of fundamental questions on MF. Pls help me in understanding these better:
1. If I buy a MF today (not a ULIP, not ELSS but a pure MF), can I sell it tomorrow? Though it may not make sense logically but is it possible technically?
2. How much tax will I be charged if I sell my MF within 1 year and after 1 year? Is it the same as in direct equities?
3. Typically, what are the switching charges in a MF (not ULIP)?
4. Can I buy 1 MF and keep pumping money into it as and when I want? If yes, what are the tax implications? For example, I buy a MF today for 50K. Then after, say, 370 days I put 50K more into the same MF. If sell this MF the next day how will I be taxed? Will the taxation be different for my first 50K and second 50K?
TIA
Pavan