by ZestyBagelZomato
Switch To Groww from Coin
I am planning to switch my MF from coin to groww. Is there any other option rather than withdrawing my fund from coin and investing it into groww.
FluffyPanda
Book gains and reinvest?
Hello Viners! I am thinking of withdrawing funds from MFs I have invested in with LTCG ~ ₹1 lac and reinvesting the entire amt into the same fund. This is to book gains and avoid taxes. I know STCG will have to be paid which i am okay with. Anything fundamentally flawed with this process or a normal practice? Thanks!
12mo ago
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FluffyTaco
Stealth12mo
As @UprightBat rightfully mentioned,
You don’t have to be pay taxes if you don’t withdraw the funds. Looks like you are missing something
QuirkyNugget
Stealth12mo
You're a little confused about the concept. Stcg is not good, ltcg is fine to book if you're in the lower salary bracket and will go into the higher bracket soon. But even then withdrawing it and reinvesting it doesn't serve any purpose. It's better to withdraw it and keep it with you.
FluffyPanda
Stealth12mo
That’s for stcg - that’s as per tax slab. Not moving to any higher slab.
SparklyPickle
Khatabook12mo
If you have any loss making funds, you can definitely benefit from those with tax loss harvesting. https://support.zerodha.com/category/console/reports/taxation/articles/what-is-tax-loss-harvesting
Not sure why you would want to book profits and pay tax on LTCG right away.
FluffyPanda
Stealth12mo
Thanks! Will check this out.
TwirlyLlama
Stealth12mo
Booking , Reinvesting and paying LTCG is normal process .
Don’t understand why u mention STCG ? Are you planning to book that and again reinvest ? What will you gain from it.?
FluffyPanda
Stealth12mo
If i m booking gains, then stcg will apply right? Or it won’t if I reinvest? And reinvest what -principal or principal + interest?
GoofyKoala
Velocity12mo
I don’t think that will impact taxes(not using taxfree money, and reinvesting at same NAV)…also selling loss making assets might help in reducing taxable amount, but in this case I don’t think so…
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Curated from across
by ZippyPickleStealth
Tax harvesting
Does anyone do tax harvesting? For e.g at March month take out profits till 1.25L from mutual funds and invest in same mutual funds in April. Like this you will not get LTGC which is 12.5% ? Or generally in stock market profit booking ha...
by SquishyTacoCityMall
More taxes
All the UNBOOKED Gains in your Portfolio would now attract -
25% MORE LTCG (10% to 12.50% is NOT 2.5%, but 25% more), Surcharge extra as applicable.
33.33% MORE STCG (15% to 20% is NOT 5%, but 33.33% more), Surcharge extra as applicable.