Friday, May 1, 2015

FMPs Rollover

 



1 Fixed maturity plans (FMPs) are closed-end funds issued for a specific maturity period, at the end of which units can be redeemed or rolled over.

2 A rollover if offered by a mutual fund, enables investors to stay invested in the FMP for a longer period of time, until the next maturity date.

3 CBDT has clarified that such rollover of FMPs will not attract capital gains tax, as the scheme remains the same.

4 Rollover has become important after the modification of holding period for applicability of long term capital gains tax on FMP was modified from 12 months to 36 months.

5 Investors can choose to exit at NAV depending on their needs and pay applicable tax. Rollover will not be treated as redemption by the taxman.

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1.ICICI Prudential Tax Plan

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5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

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10.BNP Paribas Long Term Equity Fund

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