Brokerage Fees on Mutual Funds
This query is : Resolved
15 January 2010
As per SEBI new circular, commission or Fees on mutual funds cannot be deducted from the amount paid for purchase of MF. Thus, the banks are debiting the accounts for such commission or Fees.
My question is whether the above fees or commission should be shown under the Bank Charges or should be added to the cost of investment.
My question is whether the above fees or commission should be shown under the Bank Charges or should be added to the cost of investment.
15 January 2010
The commission or fees what ever the expenses incurred are in connection with the purchase of Mutual funds.Suppose if the commission paid is not added to the cost of the mutual funds then they would be shown at the lesser value than the cost paid for it. Therefore it should be added to the cost of the mutual funds.
17 January 2010
Any expense while acquiring asset/investment forms part of cost of that asset, so initial commission/ fees paid also form part of cost.
Cheers!
Cheers!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Upload Level ValidationITR3Category of Defect B/D
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Not able to file ITR
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
