Urgent!Plz clarify my doubts

[TECH HUNTER]

I and my brother have 2lakhs now and I need to invest in Mutual Funds for tax saving and some amount on growth funds.
I have some doubts here.

1.I am planning to open demat a/c with Ventura.Can a demat a/c be joint a/c?
2.If a joint a/c is possible,can I buy tax saving Mutual Funds on individual names? can we both show these funds for tax exemption?
3.Should Mutual Funds be purchased from demat a/c or directly from fund house?Which option is better and why?
4.what is the procedure for KYC? I have downloaded the form.

 

[VJAY]

I and my brother have 2lakhs now and I need to invest in Mutual Funds for tax saving and some amount on growth funds.
I have some doubts here.

1.I am planning to open demat a/c with Ventura.Can a demat a/c be joint a/c?
2.If a joint a/c is possible,can I buy tax saving Mutual Funds on individual names? can we both show these funds for tax exemption?
3.Should Mutual Funds be purchased from demat a/c or directly from fund house?Which option is better and why?
4.what is the procedure for KYC? I have downloaded the form.

1,you can open joint a/c
2.No...if your a/c is joint then you can purchase it as joint
about tax exemption ...don't know...you can look taxmatters threads in this forum
3.it not purchased from demat ..demat only to safe keeping of shares/mf's
always better online facility to buy Mf's...
4.KYC procedures ..fill the form and attach necessery documents (which explained in the form itself)...Eg:copy of PAN,address proof,Bank details..etc..

 

[SavantGarde]

Only Demat Can Be A Joint Account
Trading A/c can only be in a single person name....
All Joint Holders of Demat A/C need to have separate Trading Account....
Purchase by any of the Joint Holders will be credited to the Demat A/c.

SG

 

[drsambu123]

1,you can open joint a/c
2.No...if your a/c is joint then you can purchase it as joint
about tax exemption ...don't know...you can look taxmatters threads in this forum
3.it not purchased from demat ..demat only to safe keeping of shares/mf's
always better online facility to buy Mf's...
4.KYC procedures ..fill the form and attach necessery documents (which explained in the form itself)...Eg:copy of PAN,address proof,Bank details..etc..

Why do u want joint account. its money.. not like real estate or something where division is problem.. Go and open separate account do what u want.
For buying MFs i would recommend Funds india.com

 

[TECH HUNTER]

the reason i ask for joint a/c is only because of a/c opening charges.why pay double!!
Will broker charge additional charges when buying MF through Demat?