We are glad you liked our video..! For your queries, please elaborate what do you mean by switching SIP to other AMC. You cannot switch SIP in a fund house to another fund house. Also, as far as switching from one scheme to another or from regular plan to direct plan or from IDCW (dividend) option to Growth option in the same AMC are concerned, they are treated as redemption from the existing scheme and purchase in a new scheme, for taxation purposes.
@@5-Minute-Finance thanks for the prompt response. I actually didn't know that we can't switch sip from one AMC to another. Anyways even switching to another scheme of same fund house, what are the benefits and taxes involved. I am more interested in switching between equity to equity scheme , best way to do it, how units will be allocated for the lumpsum amount after investment and do we need to provide bank mandate to continue sip in this new scheme. After switching does the old sip cease to exist or do we need to cancel the bank mandate or how it works . Any better ways to switch like only redeem few units to avoid stgc taxes ?
@@imAshokGowda You are mixing few things here. This is what you need to do: -Place a STOP SIP Request in existing fund. -Start SIP in new fund. -Place a switch request to move money from existing fund to the new fund. Also, for taxation purposes, a switch is considered as redemption from the existing fund and investment in a new fund. So, you will have to pay taxes accordingly. Also, we cannot comment on whether to switch/redeem in short term or later. Don't look at it only from taxation perspective. We would suggest you to focus more on your purpose of investing and decide accordingly. And, if you are unable to select good funds for yourself, you can go to ET Money App and check fund's report card, which gives you a 360 degree view of the fund. Or, you may refer to ET Money Fund rankings to select consistently-good performing funds for your investment.
Enlighten us about the taxation on weekly and daily sip... I don't do sip but I invest weekly through lumpsum payment as my job is not earning fixed income per month...
Each SIP Installment is considered as a fresh investment from taxation point of view. So, if an installment has not completed 12 months and you make a redemption, you will have to pay short term capital gains tax on the profits made on that installment. And the profit on SIP installments that have completed one year term, will be taxed as long term capital gains. In case of equity mutual funds, short term capital gains are taxed at a flat rate of 15%. Whereas, you have to pay a tax at the rate of 10% on long term capital gains exceeding Rs 1 lakh during a financial year.
You can do that by switching your investment amount to liquid funds. For that you need to place a 'Switch' Request with the AMC. If you have any specific questions, you may ask them.
It is important to know your risk profile before you start investing. This will help you invest as per your goals and risk taking abilities. And, you can do that by going to the ET Money App. Take 'Investor Personality Assessment' on the ET Money App . It will take few minutes and you will get to know your risk profile. This exercise will also guide you to select the right investments. Hope this helps..!
Ap jis fund me SIP karna chahte hain, us fund house ki website par jakar daily SIP start kar skate hain. But, jaisa apne video me dekha hi hoga, it hardly makes any difference if you invest monthly or weekly or daily via SIP. Dily SIP will have too many entries so, for ease, you can go to the ET Money App, and start a monthly SIP.
Video start at 2:36
So the conclusion is stay invested for long term...
Great content and helpful. Could you also please make a video on switching sip within same AMC and other AMC? Charges involved, pros and cons.
We are glad you liked our video..!
For your queries, please elaborate what do you mean by switching SIP to other AMC.
You cannot switch SIP in a fund house to another fund house. Also, as far as switching from one scheme to another or from regular plan to direct plan or from IDCW (dividend) option to Growth option in the same AMC are concerned, they are treated as redemption from the existing scheme and purchase in a new scheme, for taxation purposes.
@@5-Minute-Finance thanks for the prompt response.
I actually didn't know that we can't switch sip from one AMC to another. Anyways even switching to another scheme of same fund house, what are the benefits and taxes involved. I am more interested in switching between equity to equity scheme , best way to do it, how units will be allocated for the lumpsum amount after investment and do we need to provide bank mandate to continue sip in this new scheme. After switching does the old sip cease to exist or do we need to cancel the bank mandate or how it works .
Any better ways to switch like only redeem few units to avoid stgc taxes ?
@@imAshokGowda You are mixing few things here. This is what you need to do:
-Place a STOP SIP Request in existing fund.
-Start SIP in new fund.
-Place a switch request to move money from existing fund to the new fund.
Also, for taxation purposes, a switch is considered as redemption from the existing fund and investment in a new fund. So, you will have to pay taxes accordingly.
Also, we cannot comment on whether to switch/redeem in short term or later. Don't look at it only from taxation perspective. We would suggest you to focus more on your purpose of investing and decide accordingly.
And, if you are unable to select good funds for yourself, you can go to ET Money App and check fund's report card, which gives you a 360 degree view of the fund.
Or, you may refer to ET Money Fund rankings to select consistently-good performing funds for your investment.
Thank you. Yeh bohot useful hai Madam.
We are glad you liked it..! Please share this video with your friends as well.
Enlighten us about the taxation on weekly and daily sip... I don't do sip but I invest weekly through lumpsum payment as my job is not earning fixed income per month...
Each SIP Installment is considered as a fresh investment from taxation point of view. So, if an installment has not completed 12 months and you make a redemption, you will have to pay short term capital gains tax on the profits made on that installment. And the profit on SIP installments that have completed one year term, will be taxed as long term capital gains.
In case of equity mutual funds, short term capital gains are taxed at a flat rate of 15%. Whereas, you have to pay a tax at the rate of 10% on long term capital gains exceeding Rs 1 lakh during a financial year.
@@5-Minute-Finance thank you... ❤️❤️❤️
Mam i would like to knw regarding maturity of SIP AND investing the total amount into liquid fund once it gets matured..
You can do that by switching your investment amount to liquid funds. For that you need to place a 'Switch' Request with the AMC. If you have any specific questions, you may ask them.
Mam, please Suggest between 5k 4nos SIP or 20k individual SIP which one better in terms of Tax and returns both.
It is important to know your risk profile before you start investing. This will help you invest as per your goals and risk taking abilities.
And, you can do that by going to the ET Money App. Take 'Investor Personality Assessment' on the ET Money App . It will take few minutes and you will get to know your risk profile. This exercise will also guide you to select the right investments.
Hope this helps..!
how can i start daily sip ?
Daily vs weekly vs monthly doest create different returns , so go for anyone
Mamwhich
App to inverse weekly basic pls tell me
Can i start Paytm daily 21₹ investment
kya aap bata sakty ho daily sip kese start kare
Ap jis fund me SIP karna chahte hain, us fund house ki website par jakar daily SIP start kar skate hain. But, jaisa apne video me dekha hi hoga, it hardly makes any difference if you invest monthly or weekly or daily via SIP.
Dily SIP will have too many entries so, for ease, you can go to the ET Money App, and start a monthly SIP.