Sir,
I invested Rs. 4 l in uti mis advantage plan and rs. 1.5 l in uti floating fund on 1st april, 2016.
In december 2016, I have switched all the funds into uti balance fund. But after seeing your blog I want to invest all the fund into hdfc balance fund. If I redeem this fund right now I think I will be under stcg. So what is the right process I can take to switch all funds into hdfc balance fund and when should I do it?
Please guide me.
4 Answers
Hi,
Yes, Short Term Capital Gains on Equity oriented funds are taxed at 15%.
But, HDFC balanced fund is a better choice among hybrid-equity oriented schemes.
So, if you are ok to bear the taxes, you may shift the UTI fund units to this fund.
THANK YOU SIR FOR YOUR QUICK GUIDANCE.BUT SIR IF I AM NOT OK TO BEAR THE TAXES THEN WHEN I CAN REDEEM IT ON 1ST APRIL 2017 OR 1ST JAN 2018 ?
Hi,
After Dec 2017 (12 months +), the gains (if any) on UTI balance fund are treated as LTCG, and such gains are tax-exempt.
Please login or Register to submit your answer