Online Mutual Fund Investment - Tax Proof - Plz Help

[trader_newbie]

I want to open an online trading account with motilal oswal or may be with kotak securities. As you may be aware that almost all online trading accounts facilitate online purchase, selling and switching of mutual funds these days. I want to transact in Mutual Funds via this online account.

Now, my concern is - If I invest in ELSS mutual funds for tax saving via online trading account of motilal oswal/sharekhan/kotak etc etc ... what tax proof will i get? What documents will I need to submit in my company as tax proof for my investment in ELSS? does these online trading accounts provide some statement for mutual fund transactions or will i have to get it directly from the AMC?

Plz calrify this point. I read every FAQ on Motilal oswal's site but did not find answer to this. There customer care guys are not so aware of these things and were not able to answer my query.

 

[trader_newbie]

Will someone plz help?

 

[rajivnc]

Once you get the Folio number and PIN number of a Fund house, you can log into their website and get the required statements.

There are special Tabs for all the statements. I have seens these Tabs in HDFC, Reliance and IDFC Mutual Fund Websites

Take a print and submit as the Tax Proof in your company.

Also keep in mind that just to do investment in Mutual Funds you dont required any online trading platform like Mothilal or Kotak. But you can start DIRECT investment into any Fund House without any broker charges.

Hope its worth reading the following links
http://mytipstowardswealthy.blogspot.com/2010/09/how-to-start-mutual-fund-investment.html
http://mytipstowardswealthy.blogspot.com/2010/09/portfolio-monitoring-and-management.html

 

[trader_newbie]

Once you get the Folio number and PIN number of a Fund house, you can log into their website and get the required statements.

There are special Tabs for all the statements. I have seens these Tabs in HDFC, Reliance and IDFC Mutual Fund Websites

Take a print and submit as the Tax Proof in your company.

Also keep in mind that just to do investment in Mutual Funds you dont required any online trading platform like Mothilal or Kotak. But you can start DIRECT investment into any Fund House without any broker charges.

Hope its worth reading the following links
http://mytipstowardswealthy.blogspot.com/2010/09/how-to-start-mutual-fund-investment.html
http://mytipstowardswealthy.blogspot.com/2010/09/portfolio-monitoring-and-management.html

Hi Raj,

Thanks for your reply. I am well aware that to invest in mutual funds we dont need any online trading platform but for ease of doing it and to save myself from hassles of paperwork I would like to do it that way (everything online via some trading account like kotak). I am also aware that once we get the folio number we can download statement from Fund House's site or from cams/karvy site.

But, when we buy mutual funds through online trading accounts like Kotak etc, they dont give the folio numbers for each mutual fund. That's why I asked this question. Kindly, clarify