Mutual Fund Investors may please note that with effect from July 1, 2020, mutual fund units issued against Purchase transactions (whether through lump-sum investments or SIP or STP or switch-ins or dividend reinvestment) would be subject to levy of stamp duty* @ 0.005% of the amount invested. Transfer of mutual fund units (such as transfers between demat accounts) are subject to payment of stamp duty* @ 0.015%.
* pursuant to Notification No. S.O. 4419(E) dated December 10, 2019 issued by Department of Revenue, Ministry of Finance, Government of India, read with Part I of Chapter IV of Notification dated February 21, 2019 issued by Legislative Department, Ministry of Law and Justice, Government of India on the Finance Act, 2019, and subsequent Notification dated March 30, 2020 issued by Department of Revenue, Ministry of Finance, Government of India.
NISM has announced that the validity of NISM certificates of those who could not appear or attend or enroll for certification examinations or CPE programmes or eCPE programmes and as such, could not renew / are not in a position to renew their certificates, during the period March 15, 2020 to September 29, 2020 (or time period based on future developments / the Government directions), shall be extended till September 30, 2020.
Accordingly, the validity of ARN & EUIN which are expiring during the period March 15, 2020 to September 29, 2020, will also stand automatically extended till September 30, 2020, since the validity of ARN & EUIN are co-terminus with NISM Certification.