What is Micro SIP: How to Save Tax and Got Redemption

How to Invest in Systematic Investment Plans (SIPs) exemption Limit, How to open micro SIP where to starts, who can open or Invest in SIP, PAN & KYC Norms|SIP|Mutual Funds | Mutual Funds India

Many investors’ household help want start SIP with less money. The other investors are interested in starting SIP less money. Although these people are not having probably Documents like PAN card or mutual fund investments. SEBI to promote such investment in any one financial year of less than Rs 50,000 SIP inevitability of the pan is removed. Such as small investment installments calls micro SIP.

What are the Documentation Formalities of SIP Investing

Micro SIP pan or KYC (Know Your Customer) do not require documentation. However, a photocopy of your photo identification documents, voter ID or driving license should be. Original documents for verification also have to show them. Documents required for Micro SIP information can be obtained from asset management companies.

What are Attestation Required for Micro SIP Starting: Identity proof documents as you are, they must be right. The investor has to sign on. ARN Holder signed on for Attestation papers are also essential to the MFI registered as is mutual fund distributor.

Which one is applicable or who can apply in Micro SIP?
Micro SIP individuals, NRIs and Minor can open. HUF or institutional investors other categories for Micro SIP is not exempt.

Not a one time investment Called Micro SIP: For the sake of Micro SIP investments were outright exemption shall apply, even if the amount is less than 50,000 in a financial year. It is only for SIP and the total amount should not be more than 50,000 in a financial year. More than one micro SIP investors could start one. When mixed, the Micro SIP if the exemption amount was less than 50,000 will get him.

Keep these things care: Micro SIP if the documents are found incorrect or incomplete, deficiency memo got to the Investor and SIP application will be canceled.