Investment, Financial Planning, Mutual Fund & Income Tax Queries

I am thinking to continue my investments in Mutual Funds SIPs for next 15-20 years

I have SIP of 5000 each in BSL Frontline Equity, ICICI Pru Value Discovery, SBI Emerging Business, Reliance Growth Fund. I also invest 30000 yearly for ELSS in Axis Long Term Equity, IDFC Equity (ELSS), Tata Balanced Fund, Reliance Tax Saver, BNP Paribas (ELSS). I don't have any immediate need of funds and I thinking to continue for next 15-20 years?

Jun 21, 2016 by Annu, Jaipur | Mutual Fund

It is very heartening to know that you are thinking to continue your SIP and lumpsum investments in Mutual Funds for next 15-20 years. Many Congratulations! As you are on your way to a long wealth creation... Read More

Which mutual funds in India are accepting investments from US and Canda based NRIs

How many AMC can take us Canadian Fund, Kindly send me the name of AMC?

Jun 21, 2016 by Akhilesh, Varanasi | Mutual Fund

Currently, DHFL Pramerica Mutual Fund, L & T Mutual Fund, PPFAS Mutual Fund, Sundaram Mutual Fund, SBI Mutual Fund, UTI Mutual Fund And Birla Sun Life mutual Fund are accepting investments from... Read More

Whether my choice of SIPs is correct or should I change

I have started a SIP of Rs. 3,000/- on monthly basis for a tenure of 20 year in the following funds - 1) Mirea Asset Emerging Blue Chip Fund - Rs. 1,000/- every month, 2) SBI Magnum Mid Cap Fund - Rs. 1,000/- every month, 3) TATA Balanced Fund - Rs. 1,000/- every month. Whether my choice is correct or else I have to change my choice. Please suggest me in this?

Jun 21, 2016 by Chandrashekhar Rathod, Hyderabad | Mutual Fund

You choice of funds for SIPs is good. It is also heartening to know that you want to continue in it for next 20 years. You may try this calculator... Read More

How to convert mutual fund in the name of my late husband to my name

I have query about how to convert mutual fund in the name of my late husband to my name?

Jun 21, 2016 by Madhavi Amol Kulkarni, Jalgaon | Mutual Fund

This is called transmission of units. You should first check if you are the nominee or the second holder. If you are nominee or the second holder then following is the process... Read More

Can I claim Income Tax benefit on the amount which I spent for loan approval

I am constructing a home for which I applied for plan approval that cost me nearly 1 lac. Are there any tax benefits available for the same? Kindly advise?

Jun 16, 2016 by Pradeep, Chennai | Taxation

No you will not get any Income Tax benefit on the amount spent for loan approval. Income tax benefits are available on the principal and interest amount paid on monthly EMIs for the home loan if it is a self occupied... Read More

Can I avail tax exemption under Section 80C for stamp fee and registration charges of my house

I bought a second hand house in Feb 2016. I want to apply for tax exemption under Section 80C under stamp fee and registration charges. Can I get tax exemption on that?

Jun 15, 2016 by Srinath, Chennai | Taxation

As per current provisions of Section 80C of Income Tax Act, you can not avail tax rebate for stamp fee and registration charges for the old house that you have bought... Read More

Can a demat account be opened in the name of a minor

My daughter is 17 years of age. I wish to open a demat account for her marriage (to say after 6-8 years). Q1. Is custodian account facility available in our country? Q2. Is trading in minor's account allowed before she becomes adult legally? Q3. Will income generated in next one year, till she attains maturity, be clubbed in my income or will belong to her?

Jun 13, 2016 by Pankaj, Ghaziabad | Financial Planning

Demat account can be opened in the name of a minor by the natural guardians (Parents) or court appointed guardians. As a guardian you will have to fulfill all requirements for documents and KYC... Read More

Can you compare MFU and NSE platform or any other platform for my investors

I need comparison among MFU, NSEnMF and any other software/package against my requirement of giving online solution/access to my clients for subscription to investment/redemption/switching/Portfolio watch etc. If you could please suggest and advise in this matter?

Jun 13, 2016 by Arvind Arora, New Delhi | Financial Advisory

MF Utility (MFU) is an initiative from the Mutual Fund Industry which offers convenience to Distributors and RIAs for transacting in Mutual Fund schemes. MFU facilitates the investors of the Distributors or RIAs with... Read More

Are there any charges levied on each SIP instalment that I pay per month

I understand that we all talk about SIP and its advantages. But my question I recently understood (sorry for being ignorant) that there are actually charges levied on each SIP instalment I pay per month. Though its not directly visible in the statement but I guess they collect this amount by NAV adjustments. Could you please help me understand how fund house charge me per month for a SIP amount of Rs. 3000. You can consider HDFC Midcap Opportunities fund?

Jun 13, 2016 by Sachin, Bangalore | Mutual Fund

Please note that no Asset Management Company in India levies any extra charges on SIP instalments, therefore, you should not worry about your SIP instalments and continue with your existing SIP investment... Read More

What could be approx returns of Axis Long Term Equity Fund 1000 per month SIP for 20 years

Axis long term equity mutual fund 1000 per month SIP 20 years, what is the approx returns?

Jun 13, 2016 by Chanchal Halder, | Mutual Fund

Axis Long Term Equity Fund is one of the best performing ELSS Funds. Since launch the fund has given a XIRR return of 20.85% on SIP investments. If you had invested monthly Rs. 1,000 since inception... Read More