Mutual Fund Tax Calculator - Quantum Mutual Fund (2024)

FAQs

Is quantum mutual fund safe? ›

The company is incorporated as a trust under the Indian Trusts Act, 1882. The mutual fund is registered with SEBI under the registration code MF/051/05/02. As of 31 March 2024, Quantum currently offers 10 schemes and has an asset under management (AuM) of Rs. 2254.97 crores.

Mutual Funds classified as equity funds have an equity exposure of at least 65%. As previously stated, when you redeem your equity fund units within a holding period of one year, you realize short-term capital gains. Regardless of your income tax bracket, these gains are taxed at a flat rate of 15%.

While this may be a convenient source of regular income, the benefit may be outweighed by the increase in your tax bill. Most dividends are considered ordinary income and are subject to your normal tax rate. Mutual funds that do not pay dividends are thus naturally more tax-efficient.

As a result, investors seeking to book profits while markets are favorable may avoid quant funds. Furthermore, investors believe that these funds will readily provide significant returns. They do not, however, guarantee any refunds. Minimizing human biases does not guarantee the fund's success.

To redeem your money through offline mode, you need to submit a redemption request form to the AMC's office. You can also do it online through their website or through the mutual fund platform you have invested in.

The simplest way to avoid this is to own mutual funds in tax-advantaged retirement accounts such as IRAs and 401(k)s. You can also make sure to hold the investments for the long term, so that if you do owe taxes, you'll pay them at the lower long-term capital gains rate.

Tax-saving mutual funds are funds whose investment qualifies for tax exemption under Section 80C of the Income Tax Act, 1961. These funds are called Equity Linked Savings Schemes (ELSS). The exemption limit per annum is INR 1,50,000.

When you make a withdrawal from a mutual fund that is in a taxable account, you'll owe taxes based on how long you've owned those shares.

Mutual funds are not taxed twice. However, some investors may mistakenly pay taxes twice on some distributions. For example, if a mutual fund reinvests dividends into the fund, an investor still needs to pay taxes on those dividends.

How long term mutual funds are taxed? ›

Long-term capital gains on mutual funds are available when you sell your equity shares after holding on to them for more than a year. When your long-term capital gains are above Rs 1 lakh, you will have to bear taxes on them. The LTCG on mutual funds tax rate is 10% with no indexation benefit.

Report the amount shown in box 2a of Form 1099-DIV on line 13 of Schedule D (Form 1040), Capital Gains and Losses. If you have no requirement to use Schedule D (Form 1040), report this amount on line 7 of Form 1040, U.S. Individual Tax Return or Form 1040-SR, U.S. Tax Return for Seniors and check the box.

You must pay taxes on dividends, interest, and capital gains that the fund company distributes to you, in addition to capital gains on sale or exchange of shares in your account. Reinvesting distributions in more shares of the fund does not relieve you from having to pay taxes on those distributions.

Taxable funds generally have higher returns—nominally. But if the tax on those returns effectively wipes out the additional return, the more optimal choice is the tax-free fund.

Quantum Mutual Fund has its roots in Quantum Advisors, a portfolio management company started by Ajit Dayal in the 1990s. In 2006, it branched into the mutual fund business.

The Quantum Group of Funds are privately owned hedge funds based in London, New York, Curaçao (Kingdom of the Netherlands) and Cayman Islands. They are advised by George Soros through his company Soros Fund Management.

Liquid funds are also among the safest categories in the mutual fund parlance. These funds can only invest in debt and money market securities with maturities of up to 90 days. This reduces the interest rate risk and credit risk that these funds can take.