I am invested in several mutual fund schemes. I had to change my bank account because of job transfer. How do I communicate my new bank details to the fund houses?

S. Mallick, Rajarhat

You should submit a written request for incorporating the changes in your bank details to the registrars of the different mutual fund schemes. The request should be signed by all investors and accompanied by the following supporting documents: proof of new bank account, proof of existing bank account and proof of identity. For proof of new and existing accounts, any one of the following documents will suffice: cancelled cheque (in original) or self attested copy of cheque leaf/self attested copy of bank statement/ bank passbook. In case of proof of identity, a self attested copy of the PAN card or voter identity card or driving licence will do.

Fund pick

I have been investing Rs 2,000 per month each in HDFC Top 200 and Reliance Long-Term Equity since 2010. I can invest another Rs 3,000 every month? How can I diversify my portfolio?

Soumyo Ghosal, Paikpara

Your choice of funds is good. The stock markets are passing through a difficult stage. SIP works better through cost averaging when markets are going down. You have been investing for two years. Remember, equity investment must be for the long term, at least 5 years or more. For additional investment, you can consider some dividend yield funds. These funds do better when markets head southwards. To balance your portfolio, you can consider investment in PPF.

File if necessary

My annual income from pension and interest will not exceed Rs 2.5 lakh for assessment year 2012-13. Shall I have to submit income tax return?

Abani Mondal, Serampore

sion is taxable as salary income. But since your total annual income in financial year 2011-12 was less than the basic exemption limit for senior citizens, filing of income tax return is not compulsory for you unless you have a tax refund claim.

If you have any queries about investing or taxes or a high-cost purchase you are planning, mail to: btgraph@abpmail.com, or write to: Business Telegraph, 6 Prafulla Sarkar Street, Calcutta 700 001.