I want to invest in MF direct plan in my wife's name who is a housewife. Should I make it in individual name or me as Joint holder? I have my KYC registered. Do I need to register her too?
1 Answers
Hi,
If your invest in your wife's name, kindly note that clubbing of income provisions can be applicable.
For example : As your investing your income in her name, if equity mutual fund units are redeemed say in 6 months then any capital gains taxes that are applicable are payable by you.
Similarly if these investments generate tax-exempt income then clubbing of income provisions are not applicable.
Kindly read :
https://www.relakhs.com/gift-income-tax-rules-detailed-guide/
Yes, her PAN number should also be KYC compliant to make MF investments in her name.
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