Indian Stock Market and Mutual Funds
- Thread starter anmolbhard004
- Start date
sauravghosh
Adept
You can apply, but they will reject saying multiple applications linked to same pan. At least that's what it said in my case for Gala.
ashish
Adept
If I invest on the name of my wife, will my wife get tax benefit or its me.
Thinking of doing SIP on her name as her age is lower than me and investing for a longer period will be fruitful.
I'm unsure if SIP accounts for any tax benefit under old tax regime and is the benefit on the interest earned or amount invested.
Thinking of doing SIP on her name as her age is lower than me and investing for a longer period will be fruitful.
I'm unsure if SIP accounts for any tax benefit under old tax regime and is the benefit on the interest earned or amount invested.
SIP by itself offers no tax benefits. ELSS funds do but they fall under Section 80C. Age wouldn't matter in this case. In terms of redemption, you get exemption of capital gains upto 1.25 lakhs per year but that includes all capital gains including real estate and shares.
It will be considered as your wife's investment and thus she will be taxed. But if your wife is not having any income, will be clubbed under your taxation, better check with CA on this.
@t3chg33k
What about tax saving funds ?
Yes, SIP in ELSS is tax exempt under 80C. However, each installment will have a 3-year lock-in period. If 80C limit is used up with PPF, EPF or insurance premiums, then ELSS doesn't make much sense compared to investing in other mutual funds.
Yup. Or if New Regime gets you pay a lower tax, which is common these days, then also ELSS doesn't make much sense.
anmolbhard004
Adept
@honest1 @t3chg33k @TEUser2K1 and everyone
For the upcoming Bajaj Ipo I am eligible for shareholder quota so clear me one thing out can I apply in both categories [ retail and shareholder ]
For the upcoming Bajaj Ipo I am eligible for shareholder quota so clear me one thing out can I apply in both categories [ retail and shareholder ]
honest1
Skilled
Yes.
Depends on your circumstances, there is no guarantee whether share will move upward or downward after booking profit so at whatever point you think you are happy enough with the profit then book it.
sauravghosh
Adept
For successful allotment, does pre-applying increase the chances? And applying for more than 1 lot as well?
What do u mean by pre-applying? And for allotment of shares there is a set formula.
kartikoli
Skilled
Yes thats why wanted to know is there a point where we should start booking profit, I remember missing out and then end up selling at a loss so even partial profit would have been a better choice
Are you planning to apply for Bajaj tomorrow?
I saw pre apply for IPO's to be listed tomorrow so that should be the case
anmolbhard004
Adept
no pre apply has no use, you wont get the upi mandate before 10 AM tmrw so its not worth the hassle.
sauravghosh
Adept
Yes. I mean I actually wanted to apply today itself as the Pre apply option is already there. I just wanted to know whether they give any priority or whatever to that category. But I got my answer from @anmolbhard004
And thanks @rockyo27
Depends on your risk appetite, fix a set target like 10/15/20% or whenever the price graph start its downward trend & sell at that point while keeping in mind there is a chance the price drop was temporary & it might jump again in future. I know ppl who held onto a stock running in losses for years & then jumped up to give good profits while I also know ppl who held onto bad stocks & ended up with almost 100% loss after years.
kartikoli
Skilled
At the moment the portfolio is in red so will see when the scene changes to profit.