Thanks for your reply. Many things got cleared. Just one thing i would like to correct…AMCs are Trust entities. Meaning they are pass through entities. So when a fund manager sells shares whether short term or in long term, he dosenot have to pay any tax. So fund managers are lucky chaps…they can be in and out of shares without any tax implications. But this is not applicable to others. So if somebody has very high need for buying and sellling, instead of him doing it, he can do it thorugh a fund manager of mutual fund.
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