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Welcome to our NRI Zone
.
Q. Who are entitled to invest in Mutual Fund schemes
in India ?
A. NRIs / Persons of Indian Origin are entitled to invest
in Mutual Fund schemes in India under a general permission
from the Reserve Bank of India.
Q
How can an NRI investor invest in Mutual Fund schemes
in India ?
A NRI Investors can invest in our schemes either through
money lying to the credit of their NRO / NRE / FCNR Account
or through approved Banking Channels.
Q How an NRI Investors can seek repatriation of the
redemption proceeds ?
A. NRI Investors can seek repatriation of the redemption
proceeds on their investment where the investment is made
through approved banking channels or by debit to their
NRE / FCNR Account. Income earned on NRI investments by
way of dividend is freely repatriable irrespective of
the source of investment.
Q. What is the TAX treatment for NRI investor ?
A. The tax treatment for NRI investors with respect to
Mutual Fund investments is the same that is applicable
for Resident Investors except that applicable tax would
be deducted at source for NRIs.
Q.
What is the entry / Exit load on SIP ?
A. No entry load shall be charged on:
- For "all direct" applications received by AMC i.e. applications received through internet facility offered (www.kotakmutual.com), on application forms that are not routed through any distributor/agent/broker and submitted to AMC office or collection centre / investment service centre.
- On additional purchases done directly by the investor under the same folio and switch-in to the scheme from other scheme if such transaction is done directly by the investor.
- Where the purchase amount/switch in amount is equal to or more than Rs. 5 crores.
- Where the switch in is from an Equity/Balanced/Equity FOF Scheme to an Equity/Balanced/Equity FOF Scheme.
- Where switch in is from a close ended scheme (excluding Fixed Maturity Plans and Interval Plans) during the pre-defined liquidity window of the scheme as defined in the respective offer documents or on maturity to an Equity/ Balanced/Equity FOF Schemes.
- Where the switch in is from any other scheme apart from point iv and v above to an Equity/Balanced/Equity FOF Scheme for investments equal to or more than Rs. 5 crores.
- Where investments is made by Fund of Funds as defined under SEBI Regulations.
- Where units are allotted upon reinvestment of Dividends.
Cases not covered above: 2.25%
Exit Load:
- For exit within 1 year from the date of allotment of units for investments of less than Rs. 5 crores: 1%.
- For exit on or after 1 year from the date of allotment of units for investments of less than Rs. 5 crores: Nil.
- Where an investment is made by Fund of Funds as defined under SEBI Regulations: Nil.
- Where units are allotted upon reinvestment of Dividends: Nil.
- Cases not covered above: Ni
Q. How is TDS calculated for NRI Investment ?
A. With effect from 1st June, 2006 Securities Transaction
Tax will be deducted @ 0.25%.
TDS rate for Short Term NRI investor's under Equity
Scheme(s) = 15% (A)
Surcharge = A x 10% = 1.5% (B)
Education Cess = A + B x 3% = 0.495% (C)
TDS to be deducted = A + B + C = 16.99%
TDS rate for Short Term NRI investor's under Non - Equity
Scheme(s) = 30% (A)
Surcharge = A x 10% = 3% (B)
Education Cess = A + B x 3% = 0.99% (C)
TDS to be deducted = A + B + C = 33.99%
TDS rate for Long Term NRI investor's under Equity Scheme(s)
= NIL
TDS rate for Long Term NRI investor's under Non-Equity
Scheme(s) = 20% with indexation benefit. (A)
Surcharge = A x 10% = 2% (B)
Education Cess = A + B x 3% = 0.66% (C)
TDS to be deducted = A + B + C = 22.66%
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