Can we switch tax saving mutual fund?
You can choose to switch your existing portfolio to direct funds either in full or partially. However, with the switch being a kind of reinvestment, your funds can be subjected to capital gains tax and exit load.
How do I switch from one fund to a fund of another company?
Investors switch their investment from one open ended scheme to another within the same fund house for better financial planning. To switch within the same fund house, fill up a switch form specifying the amount/no. of units to be switched from the source scheme and name of the destination scheme.
Can we transfer ELSS before 3 years?
Equity Linked Savings Scheme (ELSS) cannot be redeemed before the completion of mandatory lock-in period of three years from the date of investment.
Can I move money from one mutual fund to another without paying taxes?
If you exchange your fund one year or less after you bought it, you’ll pay taxes at the short-term capital gains rate, which is the same as you pay on your ordinary income. You’re liable for taxes on any dividends or interest payments you receive from a mutual fund before you exchange or sell it.
Can I transfer my mutual funds from one broker to another?
You can transfer your existing MF holdings from the present broker to the new broker, or if you were investing without a broker then have the new broker’s Association of Mutual Funds in India registration number added to your existing investments.
Can I transfer mutual funds?
a) Transfer of mutual funds is a grey area since as per the Securities and Exchange Board of India’s (SEBI) regulations, 1996, transfer of mutual fund units is allowed. However, the fund houses don’t let all the unit holders to transfer their units, en masse.
Is exchanging mutual funds a taxable event?
An exchange is actually two transactions, selling one fund and using the proceeds to buy another fund in the same account. Performing an exchange in a taxable account is a taxable event.