n NISM Certifications
V-A NISM Series V-A
Medium

Mutual fund units issued against purchase transactions would be subject to levy of stamp duty at ______ of the amount invested.

Practice question from NISM Series V A - Mock Test 3 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    0.5%

  2. B

    0.05%

  3. 0.005%

    Correct answer

  4. D

    0.01%

Why this is the answer

From July 1, 2020, mutual fund units issued in purchase transactions are subject to stamp duty at 0.005% of the invested amount. This includes purchases made through lump sum, SIP, STP, switch-ins, or dividend reinvestment.

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