What are the withdrawal charges? Are there any taxes to pay?
Scripbox does not have any withdrawal charges. However, at the time of withdrawal, depending on whether your investments are classified as short-term or long-term, you may incur exit loads (to the mutual fund company) or capital gains taxes.
Exit loads
| Type of Investment | Exit Load |
| Equity * | 1% of the sale proceeds if sold within 1 year of purchase *. |
| Debt * | Usually none. |
| Tax Saving | Not applicable as the equity investments cannot be sold before the 3 year lock-in period, there by exceeding 1 year. |
| US Equity | Usually none. |
* Investment type: Equity
Fund Name: Parag Parikh Long Term Equity Fund (Growth)
Exit load: 2% on or before 365 days OR 1% after 365 days but on or before 730 days.
* Exit loads on Liquid Funds as are follows:
| Investor exit upon subscription | Exit loads as a % of redemption proceeds |
| Day 1 | 0.0070% |
| Day 2 | 0.0065% |
| Day 3 | 0.0060% |
| Day 4 | 0.0055% |
| Day 5 | 0.0050% |
| Day 6 | 0.0045% |
| Day 7 | 0.0000% |
Capital Gains taxes
| Type of Investment | Holding Period to be classified “Long Term” | Tax on Long-Term Capital Gains | Tax on Short-Term Capital Gains |
| Equity | 1 year from purchase | 10% capital gains tax on gains over Rs.1 Lakh | 15% flat tax on the gain amount after exit load deduction + cess |
| Debt | 3 years from purchase | 20% tax after “indexation”: a process by which you can adjust your purchase cost upwards based on inflation | Tax based on your income tax bracket (10% or 20% or 30% + cess) |
| Tax Saving | 3 year lock-in for these equity funds to be eligible for section 80C income tax deduction | 10% capital gains tax on gains over Rs.1 Lakh | Not applicable as these investments cannot be sold before the 3 year lock-in period |
| US equity | 3 years from purchase | 20% tax after “indexation”: a process by which you can adjust your purchase cost upwards based on inflation | Tax based on your income tax bracket (10% or 20% or 30% + cess) |
