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Mutual Funds to Get Costlier from Today

Mutual Funds to get Costly

From July 1, 2020, investing in mutual funds will become expensive. Investors will now have to pay stamp duty to buy the unit of the fund. Also, there will be a stamp duty on transferring it. The fee will be calculated on the total investment.

This fee will be equally applicable to both debt and equity funds. Not only this, if investors reinvest the mutual fund’s Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), Lumpsum or Dividend, then stamp duty will be paid here.

Stamp duty will have to be paid 0.005% of the total investment in mutual funds, while transfer fee will be higher. The fund will have to pay a 0.015 per cent fee if it is transferred to a demat account.

That is, for an investment of Rs 1 lakh, a stamp duty of 5 rupees and a transfer of the same amount of Rs 15 will be charged. Initially, stamp duty on mutual funds was to be imposed from January this year, but it was postponed to April and then increased to 30 June.

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