VRO portfolio tool has already been factoring in the stamp duty ever since it came into effect, says Dhirendra Kumar
Is the Value Research Online's portfolio tool implicitly going to take care of the recent change in the application of stamp duty on mutual fund inward transactions or do we have to edit each transaction and adjust it every time?
- Ajay Phaltankar
The stamp duty, which is charged at 0.005 per cent, is effectively charged like an entry load. So, if you pay Rs 1 lakh to the fund house as an investment in any of their schemes, Rs 5 (0.005 per cent of Rs 1 lakh) will go towards stamp duty and the remaining money, Rs 99,995, will be shown as investment in the fund.
The portfolio tool on Value Research Online will take care of the stamp duty. Actually, the tool has already been factoring in the stamp duty ever since it has become applicable, i.e. 1st July. Further, it will take care of all the investments made since July 1, 2020.