IDBI MF schemes are going to be merged with corresponding schemes in LIC MF schemes.
I had some IDBI Debt MF pledged with Zerodha – I noticed they acquired unpledged on 28/7 (Friday) –
what is going to occur to my margin on 31/7 (Monday) ?
will the merged LIC MF models get robotically pledged on 31/7 (Monday) ? although couldn’t discover anyplace by when I’ll obtain the LIC models.
I didn’t obtain any notification that one in all my underlying goes to get unpledged (fortunately I nonetheless produce other issues pledged and my present place requires low margin which continues to be coated), did Zerodha deliberately not attain out to me (as a result of I’d have had sufficient margin) ? what would have occurred if I nonetheless wanted increased margin ? would Zerodha have closed my positions or began charging penalty ?
Now on the query of holding interval
I used to be holding the debt fund for near 2 years, will I be liable to pay STCG in FY23-24 or I’ll carry on holding the inventory and my holding interval shall be 2yrs.+ solely going ahead or will it reset to 0 as soon as I get LIC MF units- its not clear what occurs right here – any hyperlink or previous reply shall be useful right here.
@ShubhS9 @Bhuvan please assist right here
@Quicko Can You assist in the holding interval of above query ? Is merger thought of as a sale of IDBI models and purchase of LIC models ?
@Jason_Castelino @Meher_Smaran @nithin Can anybody please assist me with above queries ?
Pratyush_Raj:
Is merger thought of as a sale of IDBI models and purchase of LIC models ?
A merger of mutual fund schemes doesn’t induce any tax legal responsibility for an investor. Buyers are liable to taxation solely once they make a redemption. So when you would have determined to stay with the brand new scheme, your funding should have robotically transferred to the brand new scheme and there’s no tax legal responsibility. You’ll be taxed while you redeem your mutual fund. For the aim of calculating capital beneficial properties at the moment, the unique date of buy and price (of the previous scheme) is taken into account.
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Hello @Pratyush_Raj
Sorry for the delayed response. Checking this with the crew.