FAQ Archive - fisdom

Can I transfer my existing holdings with Fisdom to other RIAs/Distributors?

Yes, you can transfer your existing holdings with us to other Distributors (ARN holders) or RIA ( Registered Investment Advisor).

Can I close my Fisdom account anytime? What happens to my investments?

Yes. You can close your Fisdom account anytime. Your investments are safe and always remain under your name with the mutual fund, and you can interact with the AMC (Fund House) directly.

What are the tax implications for my investments with Fisdom ?

Tax implications, if any, only happen on withdrawal. Till you actually withdraw any money, there is no tax. On withdrawal, the current tax rules are: Investments in equity funds: If you buy and sell within one year, then the gains, if any, are taxed at 15%. If you sell after one year, then you need not pay tax upto Rs 1 lac of profit ( LTCG) and for any profits above Rs 1 lac for the financial year, you just pay 10% tax.Investments in debt funds: If you buy and sell within 3 years, then your gains are taxed at your applicable tax rate. If you sell after 3 years, then the gains are taxed at 20% with indexation benefit

What are the various pricing plans available on Fisdom ?

As a launch offer, we are not charging anything from our users. So, all transactions are completely free of any charges. We will be updating our pricing plans soon, and will keep you updated about the same.

Why Direct Plans have higher NAV than Regular Plans?

Direct Plans work out to be cheaper than the Regular Plans as no distribution expenses, commission, etc. are charged to the direct plan. Hence Direct plans has lower expense ratio, and the extra cost saved is transferred to the investors because of which the NAV in Direct Plan is higher than the Regular ones.

What are Mutual Fund Direct Plans?

Mutual fund Direct Plans are those where AMC / Mutual Fund Houses do not charge any fees, commissions & trails which ensures that the investors save an extra 1%-1.5%. However, the investment objective and investment mix of the scheme remains same for direct and regular plans.

What is TDS?

TDS (Tax deducted at source) combines the concepts of ‘pay as you earn’ and ‘collect as it is being earned’. It requires that the person, upon whom responsibility has been cast, is to deduct tax at the appropriate rates, from payments of specific nature which are being made by him to a specified recipient. The deducted sum is required to be deposited to the credit of the Central Government. The recipient from whose income tax has been deducted at source, gets the credit of the amount deducted in his personal assessment on the basis of the certificate issued by the deductor

Why do I need to record a video?

As per the KYC regulations, we are required to verify your identity either in person or remotely through a video. Your recorded video helps us completing this verification remotely and the KYC swiftly.

Why do you a need a selfie?

We use this as your photograph to make the KYC application.

Why do you need a photograph of PAN card?

As per regulatory requirements, Permanent Account Number (PAN) for all investments in mutual funds is mandatory.

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