No. So essentially, taxes are paid at the fund level, and gains or distributions are not taxed again in the investor’s hands. The NAV comes pre-adjusted with the taxes.
DSP Global Equity Fund is a USD-denominated, open-ended global equity fund set up in GIFT City. It invests directly in international stocks across countries and sectors. You can refer to the attached brochure:
For outbound mutual funds, the value of investments may fluctuate with stock market volatility. Returns are not guaranteed. Equity Mutual Funds are known to be more volatile in the short term but have historically given 10-14% in the long term (5-7 ...
Yes, DSP Global Equity Fund will issue tax certificates to the investors at the end of each Financial Year once the Financial Statements are approved by the Board of Directors (generally around mid July).
Only resident individuals pay 20% TCS on LRS remittances above INR 10 lakh in a financial year. Banks collect and issue Form 27D. Since GIFT city is considered off-shore in India, NRIs don't need to pay any TCS.
Only resident Indian individuals pay 20% TCS on LRS remittances above INR 10 lakh in a financial year. Banks collect and issue Form 27D. The TCS can be claimed back as refund during ITR filing or adjusted against any other outstanding tax liability.