What are the withdrawal charges? Are there any taxes to pay?
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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) |
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