Mutual Fund Investors will Receive Modified Capital Gains Statement from CAMS

By | 31st March 2018

Computer Age Management Services Pvt Ltd (CAMS)

is in the process of modifying its investment performance reports to incorporate the new long-term capital gains (LTCG) tax on equity oriented mutual fund schemes introduced in the Union Budget 2018. “We are consulting with individual asset management companies (AMCs) to make available the actual valuations of schemes in an investor’s portfolio as on 31 January 2018. It is under development.

The modified statement of accounts will be available from 1 April 2018 for ease of investors,” said NK Prasad, president and CEO, CAMS (Computer Age Management Services Pvt Ltd). Finance minister, in his Budget speech, announced the taxing of LTCG in equity-oriented mutual fund schemes at 10% without providing for indexation. However, all gains made up to 31 January 2018 were proposed to be grandfathered.

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NK Prasad also said that the modified statement will be provided on a perpetual basis. In other words, an investor can fetch the account statement and capital gains statement for a particular period from, whenever required at any time in future. The service will continue to remain free of cost. The statement will reach investor’s inbox within 30 minutes of making the request.

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