If you have invested in an ELSS fund through an advisor or mutual fund distributor, you can contact them for your investment proof. After receiving your request, the advisor/distributor will then inform the same to the fund house, which will then send you the account statement to the registered address through post.

What is the tax on mutual fund redemption?

Taxation rates and holding period for capital gains Any profit realised on equity oriented scheme sold/redeemed after 12 months are treated as long term capital gains and taxed at flat rate of 10% after initial exemption of one lakhs without indexation.

How can I get all my mutual fund statement online?

Log onto the CAMSonline portal and click on ‘Investor Services’ on the top menu. Then, click on the ‘Mailback Services’ tab on the left side of the menu. Next, select ‘Consolidated Account Statement – CAMS+Karvy+FTAMIL+SBFS’. Once this is done, you need to provide a valid email address and choose a password.

How do I prove my ELSS?

Investment Proof: You can get investment proof for mutual fund investments by getting your statements from your distributor. Alternatively you can get a consolidated email statement for all your mutual fund investments, including your ELSS funds emailed to your inbox.

Do NRI have to pay tax on mutual funds?

Taxation rules for NRIs and residents of India are alike. For equity mutual funds, the investments made for 1 year or less will be taxed at 15% as per the short-term capital gains taxation rules. For long-term investments, the mutual funds are taxed at a rate of 10% as per the long-term capital gains taxation rules.

Do you have to pay tax on mutual fund returns?

Equity mutual fund returns are not subject to wealth tax unlike gold and property however, they are subject to short and long term capital gains taxation rules.

How can I reduce taxes on my mutual funds?

For example, if your mutual fund earns a 10% return before taxes but the tax costs incurred by the fund reduce the overall return to 9% the tax cost ratio is 1%. Investors can find pre-tax returns, tax-adjusted returns and tax cost ratio for mutual funds at Morningstar.

What is the tax cost ratio for mutual funds?

For example, if your mutual fund earns a 10% return before taxes but the tax costs incurred by the fund reduce the overall return to 9% the tax cost ratio is 1%.

When to invest in a tax efficient mutual fund?

Tax-Efficient Funds: If you have a taxable account, such a regular individual or joint brokerage account, and you want to minimize taxes, you need to invest in mutual funds that generate little to no taxes. These funds are considered to be tax-efficient.