The mutual fund industry has reached out to tax consultants and registrar and transfer agents to comply with the Securities and Exchange Board of India’s (Sebi) dividend diktat that comes into effect from April 1.
The new norms require dividend doled out by fund houses to be segregated as income distribution (appreciation in net asset value, or NAV) and capital distribution (equalisation reserve) in the consolidated income statement. The Association of Mutual Funds in India (Amfi) had written to Sebi a few days back, asking it to reconsider the proposal as it would be ...
