Is buy Direct a one time investment?
I wanted to invest some money for tax benefit with good return. I gone through some topic which were very negative when you buying it through Coin you have to pay hidden charges. Very Surprising.
I will be specific here, say I have to invest 70000 in Direct Plan of ‘DSP BlackRock Tax Saver Fund - Direct Plan - Growth’.
- What is the minimum period I need to invest so that no tax is deducted.
- Will I get an option to choose the time while buying?
- Please explain how much charges will be deducted by all formats(OneTime+ Dynamic+Monthly etc). This will help me to understand once i will buy through coin.
Please explain with a time limit say 1 year or 2 years so that i can understand and decide whether i should invest in Direct plan or not via coin.
Can you please paste a link to this topic? We can all verify if it’s true or not.
DSP Tax Saver fund is an ELSS fund, so minimum lock-in period is 3 years. You can exit it only after 3 years and you will get tax benefits for this investment under 80C. Since you’re investing 70k in a lumpsum, your Coin charges will be Rs.50/month. No other charges.
If I understood correctly then full 70K will be invested to buy the units and I will have to pay 50/month?
- Please confirm there is no other deduction apart from50/Month? From where this money will be deducted. Will you deduct equivalent unit every month?
- Also will there be any deduction after 3 years when i would withdraw the money?
- Can I extend it further If i change my mind after 3 years?
- Would i receive the premium certificate for tax calculation purpose? Is this investment comes under 80C?
Confirmed, no charges other than the Rs.50/month. This fee will be deducted from your trading account, not from your MF units.
No deductions when you withdraw the money after 3 years. No exit load, no tax implications as well.
Yes, you can extend your holding period. The lock-in period is 3 years but you can hold for as long as you like.
Yes, the ELSS statement can be downloaded from Coin.