SIR,
I want to to invest lump sum amount in mf for monthly income. I have chosen birla sl wealth ii 25 plan for this investment. I want to inform you that my mother is a cancer patient. I want to know will I redeem the amount any tiime after the investment if required? Will any exit load levied on it? What will be the tax treatment for it?
Please help me
3 Answers
Hi,
Birla Sun life MIP II Wealth 25 plan is a MIP fund. Kindly note that around 20 to 30% is invested in Equities and also in Real estate properties. So, are you ok to take risk?
Kindly read :
https://www.relakhs.com/best-monthly-income-plans-india-mutual-funds/
Are you planning to use the income generated on this investment for medical treatment? Are you totally dependent on this income? Any other source of income?
May I know if your mother has any type of Medical insurance cover?
You can redeem investments in MIP Funds whenever you would like to ..
Kindly read :
https://www.relakhs.com/mutual-funds-taxation-rules-capital-gains-tax-rates-on-mfs-fy-201516/
Exit Load on this fund : :
Exit Load (%)
For units in excess of 15% of the investment,1% will be charged for redemption within 365 days
)
THANK YOU SIR FOR YOUR QUICK RESPONSE. SIR, I WANT TO GIVE ANSWER AGAINST YOUR QUESTIONS.
Q: Birla Sun life MIP II Wealth 25 plan is a MIP fund. Kindly note that around 20 to 30% is invested in Equities and also in Real estate properties. So, are you ok to take risk?
ANSWER : I READ YOUR MIP RELATED BLOG . FROM THAT LIST I HAVE SELECTED THIS FUND AND I HAVE ALREADY INVESTED HDFC BALANCE FUND (LUMP SUM}, UTI MNC (LUMP SUM), BIRLA SL TAX RELIEF 96 (LUMP SUM).SO I THINK I AM A MODERATELY RISKY INVESTOR. SO RISK WILL NOT BE ANY ISSUE.
Q: Are you planning to use the income generated on this investment for medical treatment?
ANSWER: NO, ACTUALLY IN COMING MONTHS SOME FD WILL BE MATURED AND PRESENT FD RATES ARE VERY LOW THAT'S WHY I WANT A GOOD MIP PLAN. ACTUALLY SIR I WANT TO START TWO NEW SIP A) MIRAE ASSET EMERGING BLUE CHIP FUND B) BIRLA SL FRONT LINE EQ FUND AND I WANT TO USE THE MONTHLY INCOME FOR THIS PURPOSE.
Q: Are you totally dependent on this income?
ANSWER: NO.
Q: Any other source of income?
ANSWER: YES
Q:May I know if your mother has any type of Medical insurance cover?
ANSWER: YES , MY FATHER IS GOVT. EMPLOYEE , SO HE HAS CASHLESS AND REIMBURSEMENT FACILITY FOR HIS OWN AND MY MOTHER.
I CAN EASILY HANDLE THE SIP WITH OUT THIS INCOME BUT MY MY FATHER WANTS A MONTHLY INCOME AND INVEST THE INCOME FOR THIS SIP PURPOSE AND HIS VIEW IS IF A LUMP SUM WILL REQUIRE FOR MY MOTHER'S TREATMENT THEN THE AMOUNT SHOULD BE EASILY REDEEMABLE.
NOW PLEASE GIVE YOUR OPINION .
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