CAMS has introduced a new feature in its investor mailback service that can help your clients calculate long term capital gains tax liability.
The R&T agent has launched a modified capital gain/loss statement to include LTCG for equity funds and consolidated statement for grandfathered equity schemes.
The enhanced capital gain/loss statement will assist your clients to comply with the new long-term capital gains tax for equity funds announced in the budget this year. The enhanced capital gain/loss statement will allow investors to view their consolidated capital gains/losses across all mutual funds that are serviced by CAMS. In addition to providing short term and long-term capital gain /loss, the statement will also provide the original cost and the net asset value as on 31st January 2018. As the statement will be available for perpetuity, investors can access the statement at any time in the future.
“Investors extensively download their capital gain/loss statement during tax filing season. We hope this will bring significant convenience to investors with ready to use information for tax filing purpose” said N K Prasad, President & CEO, CAMS.
Also, CAMS has also launched a statement for grandfathered equity schemes. With the Union Budget 2018 exempting gains accrued in equity-oriented schemes until the January 31, 2018, this statement will serve investors with a single view of unit balance, net asset value (NAV) and fair market value as on January 31 2018 for grandfathered equity schemes across the CAMS serviced funds. Investors can use the statement as a ready reckoner to review their equity holdings with January 31, 2018 valuation.
CAMS is the service partner to 15 mutual funds and serves 64% of the mutual fund industry assets.
