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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. As per the amendment with effect from 21 July, 2005
there will be an entry load for investments done through
Systematic Investment Plan. Load structure however differs
from scheme to scheme.
Incase of Equity/ Balanced Scheme:
Entry Load:
For investments < Rs. 25 lakh (per instlmt), entry
load applicable is 1.25%.
For investments >= Rs. 25 Lacs but < Rs. 5 Crores;
2.25% and
For investments >= Rs. 5 Crores; Nil (Except Kotak
Equity FOF where it is 2.25%).
Exit Load:
Each installment Amount < Rs. 25 Lacs; 1.00% if redeemed
before 24 months,
For investment >= Rs. 25 Lacs but < Rs. 5 Crores;
1.00% if redeemed before 6 months and
For investment >= Rs. 5 Crores; Nil.
Incase of debt scheme there is no entry load applicable.
However for investments through Non- SIP in equity scheme
there is an entry load of 2.25%. Incase of Debt scheme
there is no entry load applicable
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) = 10%
(Is reduced from 30% to 10% w.e.f 5th January, 2006) (A)
Surcharge = A x 10% = 1% (B)
Education Cess = A + B x 2% = 0.22% (C)
TDS to be deducted = A + B + C = 11.22%
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 2% = 0.66% (C)
TDS to be deducted = A + B + C = 33.66%
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 2% = 0.44% (C)
TDS to be deducted = A + B + C = 22.44%
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