A mutual fund redemption request is made when an investor requests to withdraw money from their mutual fund investments.
A time-stamped confirmation is provided when submits a mutual fund redemption request-electronically or physically.
The transaction confirmation for online submissions is sent to the registered email address and mobile number.
Fund House Office will issue a receipt acknowledgement that is time-stamped when the redemption request has been physically submit.
For mutual fund transactions to be processed as same-day transactions, redemption requests must be received by 3 PM.
If a redemption request is submitted after 3 PM, the transaction will be processed Next business day.
Investor's registered bank A/C will receive the redemption amount after STT and stamp duty have been deducted.
Based on how long these mutual fund units have been held, the gains are separated into LTCG and STCG categories.