6 replies on this article “Can NRI start STP on existing mutual funds?”

1. Vimalraj Nagendran says:

   December 1, 2013 at 8:58 pm

   Thanks Ashal for your quick responses. I guess redeem is the only transaction available then 🙂

   Reply
2. ashalanshu says:

   November 30, 2013 at 8:55 pm

   Dear Vimal, when you are doing STP, there may be Tax on your redemption from one fund, so you like it or not but some AMCs may not offer even STP to you due to this Taxation thing. 🙂

   Thanks

   Ashal

   Reply
3. Vimalraj Nagendran says:

   November 29, 2013 at 10:58 pm

   Dear Ashal,

   Thanks for your quick response. That’s why I was confused with the STP as that doesn’t involve a bank transaction. Any thoughts?

   And sorry as I didn’t mention about the US NRI earlier 🙂

   Thanks
   Vimal

   Reply
4. ashalanshu says:

   November 29, 2013 at 11:41 am

   Dear Vimal, Now I got the background of your query. Due to US and some other countries’ Tax laws, Indian AMCs restricts investments from these locations. So this is not due to your basic NRI statuds but due to your actual residence – country specific.

   Thanks

   Ashal

   Reply
5. Vimalraj Nagendran says:

   November 28, 2013 at 7:21 pm

   Dear Ashal,

   I have been told by many NRI consultants that once I convert my savings account into NRO I wont (or I’m not supposed to) be able to do fresh Buy on mutual funds. I’m an avid investor in PPFAS fund even they have mentioned that NRI based in US/Canada are not eligible for investments. So I’m totally confused and seeking advice.

   Thanks
   Vimal

   Reply
6. ashalanshu says:

   November 23, 2013 at 11:03 am

   Dear Vimal, what is the problem to you? Being NRI, there is no restriction in investing fresh money? Be it SIP or STP or lump sum?

   Thanks

   Ashal

   Reply

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