[S_U_N]

Originally Posted by sgiitk

Yesterday I was talking to my CA. Now they want the entire history of any MF investment when you try and redeem it. He reckons it is not worth the hassle any more.

Is this more from 'capital gains calculation' perspective?

Without details, how will anyone know the actual gains (how much is short term/ how much is long term unless you show how many units you have purchased and when?)

[dmplog]

Originally Posted by S_U_N

Is this more from 'capital gains calculation' perspective?

Without details, how will anyone know the actual gains (how much is short term/ how much is long term unless you show how many units you have purchased and when?)

Yes, this is required for capital gains calculation during Income tax return filing.
You can easily get a consolidated capital gains statement from CAMS or Karvy for all your mutual fund investments. Alternatively each mutual fund allows you to download them from their website.

[saildrive]

Maybe its just me.

Suddenly it seems that investments in MF's, FD's, Sale of House, GST, Capital Gains, Stock Dividends (related taxes) Various Tax implications thereafter makes it all the more frustrating.

I don't understand - service fee charges if I exceed 5 ATM transactions, money for KYC approval, payments for CIBIL certifications etc.

It suddenly seems to be getting cumbersome where there is a fee / charge levied - which could be completely done away with.

I understand - Taxes are meant for the betterment of us all, don't get me wrong; keeping a tab and fear of missing out on a certain element and then getting implicated for the same is something I am very nervy about!

I am okay with tax being deducted at the time of redemption, then to note the charge and make sure I pay it at the time of filing taxes....I am a salaried person and these charges / taxes seem to be unending

[alexgv]

Recently i came across the ICICI prudential asset allocator fund. It seems to have decent returns accross the equity market crashes.
https://www.moneycontrol.com/mutual-...eturns/MPI1169

This is a fund of fund. Normally i prefer to directly invest inunderlying funds. But now dont have time to actively manage the funds, hence looking for this kind of option. Any thoughts?
Also any other fund house has similar or better

[DigitalOne]

Originally Posted by saildrive

Maybe its just me.

Suddenly it seems that investments in MF's, FD's, Sale of House, GST, Capital Gains, Stock Dividends (related taxes) Various Tax implications thereafter makes it all the more frustrating.

Yes, sometimes the information overload gets overwhelming . One point to remember is that there are as such no new taxes that have been introduced. All these taxes existed since time immemorial .

What was missing earlier was the awareness among tax payers of their liabilities. For e.g. a majority of tax payers still do not realize that they have to pay income tax on FD interest. (TDS on interest income is only 10%; if you are in 30% tax bracket you have to pay the additional 20%). Also the governments ability to track these discrepancies has improved dramatically with computerization.

The trick is to keep investments really simple i.e. 1 bank account, 1 demat (preferably with same bank), 1 credit card, 4-5 Mutual fund houses so you don't "forget" any investments.

[carboy]

Originally Posted by DigitalOne

One point to remember is that there are as such no new taxes that have been introduced. All these taxes existed since time immemorial .

Not true at all. There was no Tax on Long Term Equity Capital Gains till one year back. Also, Dividend has been double taxed for a long time but now for some people it's now triple taxed.

[ghodlur]

Requesting advise from MF experts.

The 2 yr SIP in Franklin India Equity Fund (Direct Plan, Growth option) is expiring in next month. The returns have been miserable -1.06% as on date annualized. This fund was earlier known as Franklin Prima Plus fund was a 5 star rated fund on value reseachonline and now is a 3 star fund with dismal 2 yr performance when compared to the peers and fund category. Most of the funds in the Multicap category have returned a single digit returns with exception of one fund with double digit returns.

This fund was one of the 4 funds selected for my retirement goal. With the kind of performance I am seeing, should I be continuing this or choosing an alternative? If so, what is the best substitution for the fund. I was investing Rs 10000/- pm in SIP

[dmplog]

Originally Posted by ghodlur

This fund was one of the 4 funds selected for my retirement goal. With the kind of performance I am seeing, should I be continuing this or choosing an alternative? If so, what is the best substitution for the fund. I was investing Rs 10000/- pm in SIP

My 2 cents.

1. What I do normally in this situation is as follows - stop the SIP. Choose a better performing MF within same category and start a fresh SIP. Look at Axis Focused 25 and SBI Focused Equity funds.
2. What to do with poorly performing fund? I redeem it when the market is better (right now it is not - and Indian market may go down even further in coming weeks/months). So, it's a tricky bit. For you you can wait till market rises properly in an years time as it's your retirement goal.

[DigitalOne]

Originally Posted by carboy

Not true at all. There was no Tax on Long Term Equity Capital Gains till one year back. Also, Dividend has been double taxed for a long time but now for some people it's now triple taxed.

If I remember right, LTCG on equity was re-introduced last year. It was there till 2004 (?).

Yes, there are problems with Dividend distribution tax; and there are complexities from investor angle on different tax treatment for Equity and Debt (e.g. Long term is 1 year for Equity and 3 years for debt). I hope that they make it simpler and consistent.

But my main point there is no increase in complexity. It has always been complex

[SoumenD]

Originally Posted by ghodlur

The 2 yr SIP in Franklin India Equity Fund (Direct Plan, Growth option) is expiring in next month. The returns have been miserable -1.06% as on date annualized.

You may stop further investment but would be incorrect to redeem it in current situation. Just let it be till the market recovers and it gets to green. If its your retirement fund am sure you can give it some time.

Post budget most of the funds have gone downwards & this is a decent time to accumulate more units. For reference am invested in L&T emerging business fund for last 2 years and the returns stand at -11% . Yes it looks scary but then as per all experienced folks small-cap funds should be invested in, only if you have a goal of 7-10 years. So for now am continuing accumulating more units via SIP. Its a correct move or not I don't know, only time will tell.

[sups]

Originally Posted by ghodlur

The 2 yr SIP in Franklin India Equity Fund (Direct Plan, Growth option) is expiring in next month. The returns have been miserable -1.06% as on date annualized. This fund was earlier known as Franklin Prima Plus fund was a 5 star rated fund on value reseachonline and now is a 3 star fund with dismal 2 yr performance when compared to the peers and fund category.

I am not MF expert, but I am in the same boat as yours as I have been investing in this fund. My advisor (SEBI registered independent planner) advises me not to stop SIP in this fund for few years of under-performance. He also asked not to go by online ratings. So, I will be continuing with this. But anything surplus will go in another multi-cap fund.

[carboy]

Originally Posted by DigitalOne

If I remember right, LTCG on equity was re-introduced last year. It was there till 2004 (?).

When LTCG on equity was removed in 2004, STT was introduced. So for LTCG has not always been there - it was not there was 14 years in between. And now we have both LTCG & STT which is a first, I think.

[hothatchaway]

With a horizon of anything more than 7 years (anything less and equity investments are a gamble in any case) its meaningless to look at current ie performance for the last 1-2 years. Who is to say what the fund will do in another 3-4 years? Many of us are in corporate jobs where we are conditioned to this continuous analysis but we overlook that equity investments are geared for a point in the future which we know very little about. Something which is sizzling now may very well fizzle out in the future.

[thoma]

There is an option given in cams web site's front page for delinking of aadhaar. Can everybody delink their aadhaar from all of their mutual funds? Any downside?

[sgiitk]

Originally Posted by sgiitk

Yesterday I was talking to my CA. Now they want the entire history of any MF investment when you try and redeem it. He reckons it is not worth the hassle any more.

It seems that they have reverted to the old pattern, probably after howls all around. None of us were keeping detailed records for MFs from Alpha. I hope the good sense continues. However, one can never be too sure.