Can I gift Mutual Funds investment to my Nephew instead of cash on his birthday?
- RRashi Sadhu140 days ago
Basically the concept of gifting mutual fund units is also a hypothetical one and is practically not possible. In fact, ‘third party’ payments are not accepted by mutual funds. So if you want units to be in a relative’s name, then you need to transfer money first to the receiver’s account. You will then be able to use that amount to invest in the fund by their name. The only scenario in which mutual fund units can be transferred to another is in case of the demise of the unitholder. In case o...Read More