I have invested 25 lacs in 2017 with Kotak PMS scheme and added one more lac in 2018. Due to their incapable
Fund manager and Coronavirus impact my investment came down to 18 lacs and fighting with them finally it has grown to 29 lacs after 6 years and I have withdrawn the total fund. The profit is 3 lacs after 6 years.Again I have paid income tax for the year on year profit 9 lacs which is not real.
They have given final tax report as 9 lacs profit and I have paid the long term gain tax. My recommendations is no one should invest PMS product with Kotak. If you invest FD you will get more interest than this pMS.every year whether they grow your investment or making loss, they will charge min 2% as service charge and you will not have any control over their investment selection.
