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Should you hold mutual fund folios in joint names?

It eliminates the need for a will or a nominee, says Dhirendra Kumar

Should you hold mutual fund folios in joint names? What are the tax implications? -Desai

Holding your mutual fund folios jointly with a spouse eliminates the need for a Will and a nominee. The tax implications are straight forward. The first holder of the investment gets all the tax break in case of a tax saving fund. For taxation of long term capital gains or short term capital gains, only the first holder is liable.

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