I made an investment of ₹500 in Reliance Money Manager (DP) through Zerodha Coin; with the understanding that Zerodha doesn’t charge any fees.
However, only ₹499.14 has been invested. Where is the ₹0.86p (0.17%)?
Please clarify.
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Hi Rakhi,
There is no deduction from your invested amount for any investments on COIN.
When you divide the invested amount by the allotted NAV, you will get value as 0.20735788727. If you multiply this with the average NAV of 2411.29 you will get the exact invested amount Rs 500.
Since, the AMC rounds up the units till 3 decimal places so you will receive 0.207 units in your demat account and the same is reflecting in your portfolio on COIN. The invested amount on COIN is a product of Units x Average NAV, hence in your case the investment amount reflects as Rs 499.14.
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Thank you sir.
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@faisr Does this mean that the remaining 0.00035788727 units in this case (after the first 3 digits) have just got vanished for which she won’t receive any money ?
I have invested Rs.2 lakh in a liquid fund and have got units for Rs.199990 (according to the @faisr’s answer the money is fully invested but the units after 3 digits worth Rs.10 are just not there in our demat) The reasoning I understood, but my question is: " Does this mean that we have incurred a loss of Rs.10 in my case ?" @bhuvan
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No, there’s been a recent development where stamp duty is now applicable on all MF transactions:
You would’ve received an allotment email from us with a detailed breakup.
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Why stamp duty is not shown as an expense in PnL? It is also not shown as a part of purchase price either.
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We’re working on showing MF charges (Stamp duty, STT etc) in the Console PnL. We’ll keep you updated.
My ticket # 20201014852281 about this issue is pending since more than 2 years. No action so far has been taken. Looks like this is not taken that much seriously.
What is the issue?
Stamp duty is not shown as an expense in PnL. It is also not shown as a part of purchase price either.
What refund?
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Stamp duty was collected but not shown, so it was not calculated while paying tax?
There have been structural changes in the MF offered in demat mode, hence a few of our internal projects are delayed. We’ll update you once this is live in Console.
@Bhuvan
I invested 100rs with avg nav of 4890.3893, my investment value shows 97.807786, stamp duty charges is 0.005 as per 0.005%. I understood the calculation but still, there is a difference of 2.187214 (99.995−97.807786) after deduction of stamp duty. isn’t this considered a loss r where did this 2.187214 go
This is just a UI calculation issue for the max decimal places (will be fixed soon). The invested value will be as per the tradebook and transaction history.
this is a 6 years old post. The issue still exist. Your “will be fixed soon” is a pity
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