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Mutual fund

This query is : Resolved 

Hi,

I have invested in mutual funds.
Units purchased - 123.487
Purchase Rate - 40.49 per unit
Sale Rate - 43.25 per unit
Exit load - 1 percent

Can anyone tell how much money i'll get on redemption.

The mutual fund I invested in is SBI.
Can anyone tell the redemption mode (Cheque or NEFT)

Regards,
Dheeraj.


We need to understand how exit load works. Exit load of 1% is charged on the redemption value and as a result the redemption value will become 99% of original redemption value.

So, your purchase price = 40.49 * 123.487 =Rs.4999

Your redemption price = 43.25 (100%-1%) * 123.487 = Rs.5287.40

Your gain = Rs.5287.40 - Rs.4999 = Rs.288.40.


Hope this makes things clear

Sir,

Thanks.
But STT is also cut on it & my gain reduced to 274 Rs. I got it sir.
Can you answer 1 more question I purchased it 3 months before, do I have to pay STCG @ 15%, if my income do not exceed minimum taxable limit.

Yes, the Securities transaction tax of 0.125% must be paid whenever you buy or sell a MF investment.

we need to add STT to the purchase price and deduct STT from the Selling price. When we consider this i believe you can arrive at Rs.274.

Purchase price becomes Rs.40.54 per unit after you add the STT at 1% to the purchase price. Selling price after exit load is Rs.42.8175 and after you DEDUCT stt from the selling price, you will get Rs.42.76 per unit.

Net payoff = 123.487*(42.76-40.54) which is around Rs.274

No, you need not pay STCG at 15% if your basic exemption is not crossed

Sir, I'm a taxpayer from last 2 years, sir do I need to pay STCG tax & also tell the tax liabilty (as per my calculations Rs. 40)

Thank you so much for the clarifications Sir.

Regards,
Dheeraj.

Yes, it comes to around Rs.40...

Thank you so much Sir.


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