[beez]

Originally Posted by deep_bang

I had a similar problem and ended up writing a tool to do this management. If there is enough interest i can make some minor modifications and open my private GitHub repo to the public. Here is what it does:

Let me know if there is some interest i can open my repo and perhaps we can get the tool improved collectively.

A customised management tool to track my investments - interested. Probably can help with providing user feedback, if needed.

[srsrini]

Originally Posted by DaptChatterjee

HDFC securities offer only regular MF plans. I hope you are aware of the difference between direct and regular plans. The difference in Expense ratio is, more often than not, 1%+. Stocks can be transferred online from one broker to another. Search both Zerodha & HDFC websites for information.

I would be more blunt. Using HDFC Securities after using Kite/Coin is like going back a century - in many aspects. If you already know how to select mutual funds, avoid regular plans at all costs.

[neelkumar]

Originally Posted by DaptChatterjee

HDFC securities offer only regular MF plans.

Originally Posted by srsrini

If you already know how to select mutual funds, avoid regular plans at all costs.

Thanks! I am aware of the regular vs direct investment. I just didn’t realise that HDFCSec only offers regular funds. My investments there are only in stocks and just thought of starting my MF investments too.

So, I guess will continue with Zerodha for time being.

[RJK]

Originally Posted by deep_bang

Let me know if there is some interest i can open my repo and perhaps we can get the tool improved collectively.

I would certainly be interested, brother!

[mrbaddy]

Need suggestion.

Starting SIPs in name of my 2 sons who recently turned 18 (although one turned couple of years ago).

Can any of the financial experts here suggest the following?

a. 3-4 Direct mutual funds SIPs
b. Good Platform to use (Zerodha, PayTM etc)


Note:
I won't have dependency on these funds unless it is a highly critical emergency and I have already extinguished all my other sources.
I want to get my kids exposed to investing in SIPs and investing for long term which i am guilty of starting very late. I am still on regular funds and this is my first step towards Direct Plans.
I'll be doing the payments for foreseeable future till they are earning.
I'll invest in 2 funds in equal split (same set) for both the kids.

[vijaykr]

Originally Posted by mrbaddy

Need suggestion.
Can any of the financial experts here suggest the following?

a. 3-4 Direct mutual funds SIPs
b. Good Platform to use (Zerodha, PayTM etc)

Not the advice you were hoping to hear, but if you've not already spoken with a professional financial advisor, I'd suggest doing that first before starting new investments.

Goals->Asset Allocation->Product Category->Product (specific mutual funds in this case) is the way I recommend you think about this instead of starting with the Product (which MF?) to invest.

Regarding platform, you can look at MFCentral or MFUtility which are from AMFI or RTAs (CAMS/KFintech). The new fintech platforms are also easy to use and good candidates, but I prefer to limit giving personal data to entities which will likely start to cross sell me other products.

[fhdowntheline]

Originally Posted by mrbaddy

Need suggestion.

Starting SIPs in name of my 2 sons who recently turned 18 (although one turned couple of years ago).

Can any of the financial experts here suggest the following?

a. 3-4 Direct mutual funds SIPs
b. Good Platform to use (Zerodha, PayTM etc)


Note:
I won't have dependency on these funds unless it is a highly critical emergency and I have already extinguished all my other sources.
I want to get my kids exposed to investing in SIPs and investing for long term which i am guilty of starting very late. I am still on regular funds and this is my first step towards Direct Plans.
I'll be doing the payments for foreseeable future till they are earning.
I'll invest in 2 funds in equal split (same set) for both the kids.

Not an expert by any means, but speaking from experience- an aggressive hybrid fund is not a bad idea. It allows for better than conservative growth, yet avoids extreme volatility. It is also important for your children to understand that the invested value does grow over a period of time rather than swing erratically.

[deep_bang]

A question on transferring funds to minors. My intention is to transfer some funds to be used for my kids education at a later point of time to be on the kids name (minor account now).
How does taxation work in this case where the funds were with me for some time and with my kid for some more time? Is it treated as good as bought by my kid and the gains will be taxed only when the kid sells the funds?

[Eco_boost]

Originally Posted by mrbaddy

Need suggestion.

Starting SIPs in name of my 2 sons who recently turned 18 (although one turned couple of years ago).

Can any of the financial experts here suggest the following?

a. 3-4 Direct mutual funds SIPs
b. Good Platform to Use.

I started my first couple of SIP’s in Jan 2018 ( I was 21 years old back then) Via ET Money, which is an excellent platform.

1- DSP Tax Saver ELSS - ( Still holding at 20.38% CAGR)
2- HDFC small cap fund (sold prematurely, as it gave no returns in the first two years, shouldn’t have sold)
3- Tata equity PE fund (Sold last year as it had started under performing , still delivered over 16% CAGR)

Since you’re starting from 2024, I would recommend the following funds ( which I hold as well)

1- Any banking Nifty fund (Good growth potential for Indian banks ahead)
2- SBI Contra fund (Has been consistently beating its benchmark)
3- Canara Robeco blue-chip equity fund ( has been consistently beating it’s benchmark)
4- Nifty IT fund ( I am holding ICICI’s)

[sdp1975]

Originally Posted by deep_bang

A question on transferring funds to minors. My intention is to transfer some funds to be used for my kids education at a later point of time to be on the kids name (minor account now).
How does taxation work in this case where the funds were with me for some time and with my kid for some more time? Is it treated as good as bought by my kid and the gains will be taxed only when the kid sells the funds?

If your child is a minor at the time of sale, you'll have to pay the capital gains tax.

If he's an adult at the time of sale, he/she pays the tax. In this case, the MFs were essentially gifted by you to your son/daughter and he/she pays the tax during sale.

[Naetik30]

Originally Posted by sdp1975

If your child is a minor at the time of sale, you'll have to pay the capital gains tax.

If he's an adult at the time of sale, he/she pays the tax. In this case, the MFs were essentially gifted by you to your son/daughter and he/she pays the tax during sale.

I believe this is wrong. Even if the kid is an adult, the tax will fall on the parent as he/she has funded it. The income will be clubbed with the parent's income and taxed.

[Guite]

I have two questions. Any guidance will be highly appreciated.
1. I had invested through SIP a total of 22a amount (22a is just for illustration purpose. It can be any amount between 22k and 22l ). That SIP ended long time back, my portfolio is still running. One month back I added 11a lumpsum amount to same portfolio number. I now have a change of mind and want to switch this 11a amount to another fund within the same fund house.

The original 22a amount have generated substantial profit, while the 11a amount has not generated any profit yet. If I switch an amount approximately equivalent to amount 11a:
A. Will this amount be considered profit and liable to tax? Or
B. Will it be considered withdrawal within one year and exit load applied to it?

2. Is it possible to access mutual funds subscribed through Zerodha from the respective fund AMC website for changing SIP, switch, etc?

[sunilch]

Originally Posted by Guite

If I switch an amount approximately equivalent to amount 11a:
A. Will this amount be considered profit and liable to tax? Or
B. Will it be considered withdrawal within one year and exit load applied to it?

2. Is it possible to access mutual funds subscribed through Zerodha from the respective fund AMC website for changing SIP, switch, etc?

1) MFs follow FIFO for any withdrawals. So your earlier invested amount which now has become 11a shall be used for withdrawal and you will have to pay appropriate tax. Same holds for the Exit load but in your case it is not going to cross the limit and hence it won't be applied. However, if you would have used a different folio for the newly invested 11a, that would have made your life easier.

2) Should be possible given that they all are driven by your Folio No and PAN number. I do not have an experience with DMAT held MF units however. I guess it should be same but you never know. So just login on the MF company site and check your holdings there using your PAN number.

[Guite]

Originally Posted by sunilch

1) MFs follow FIFO for any withdrawals. So your earlier invested amount which now has become 11a shall be used for withdrawal and you will have to pay appropriate tax. Same holds for the Exit load....

I opened the AMC mobile phone app and managed to access both tranches separately. I initiated a switch of the second tranche (11a in example above). During the switch process it displayed a popup of the exit load equivalent to 1% of 11a amount. By Monday or Tuesday the full transaction detail will be known.

Btw, when importing mutual funds data into ICICI netbanking app, both tranches show separately.

2)I do not have an experience with DMAT held MF units however. I guess it should be same but you never know. So just login on the MF company site and check your holdings there using your PAN number.

My doubt arises from the Demat format that Zerodha uses for holding MF portfolios. That's why I have not purchased any MF yet through Zerodha.

[sunilch]

Originally Posted by Guite

I opened the AMC mobile phone app and managed to access both tranches separately. I initiated a switch of the second tranche (11a in example above). During the switch process it displayed a popup of the exit load equivalent to 1% of 11a amount. By Monday or Tuesday the full transaction detail will be known.

So basically the AMC is allowing you to choose the transaction that you want to use. This is wonderful and will allow the investor to better manage their tax liability. Wonder if this is applicable only for Switches or withdrawals in general?