Investment in foreign stocks/ETFs

[rupeshmandal]

@rupeshmandal

Yes, it is treated as a non-equity fund. Also, Motilal Oswal S&P 500, ICICI US Bluechip Equity Fund, etc all are treated as debt funds for taxability purposes. Parag Parikh Long Term Equity Fund also invests in US stocks but the majority portion of the portfolio is invested in Indian stocks so it is treated as an Equity fund for taxation purposes. Hope this helps.

@nithin this reminded me, Zerodha Tax P&L wrongly treats ICICI Bluechip US Equity Mutual Fund as an Equity Fund from taxation point of view. Instead of treating it as Debt fund. And hence the tax liability is miscalculated. I had brought this up with Zerodha Support on May 6, 2020 and ticket #20200505437383 is still open and the issue is yet unresolved. Dec 31 is the last date to file ITR. Thus I request you to look into it.

@Quicko you also please take a note of this. Because all investors filing ITR through you, if they are having ICICI Bluechip US Equity Fund in their portfolio and if there is redemption of units, their taxability is wrongly calculated by Zerodha.

Both of you, please talk to each other and resolve things.

Thanks.