Investors can access their investments through various mutual funds through a single portal. The investor must register in the portfolio (s) with the same email as the user ID for CAMS online. The investor must ensure that the same email ID is registered in all the folios held by them, which is attended by CAMS. Single registration in the CAMS online mobile app or CAMS online is appropriate. Users can use the same login credentials for both. CAMS online enable you to perform many tasks anywhere through a single, secure gateway. CAMS has enhanced the capital gain/loss statement to include long-term capital gains (LTCG) for equity-oriented mutual fund schemes from 1 April 2018.
As of 1 April 2018, Computer Age Management Services (CAMS), registrar and transfer agent for mutual funds enhanced capital gains/loss statements to include long-term capital gains (LTCG) for equity-oriented mutual fund schemes.
How will the enhanced statement help investors?
The enhanced statement will help investors levy long-term capital gains tax on equity-oriented mutual fund schemes. The 2018 year’s budget proposed a long-term capital gains tax on equity-oriented mutual fund schemes. You can access the updated details on the CAMS website.
The enhanced statement of capital gains/losses allows investors to see their combined capital gains/losses in all mutual funds that CAMS provides. As of January 31, 2018, the statement will also include the principal expense and net asset value in addition to disclosing short-term and long-term capital gains/losses. Investors can view the statement at any point in the future, as this statement will be available forever.
How LTCG Tax Statement is the best and when?
According to experts, they are happy to announce the availability of modified Capital Gains / Loss Statements, introducing new Long-Term Capital Gains / Losses in equity-oriented schemes. Investors should fully utilize their capital gains/losses statements during the tax filing season. Experts expect that it will provide tremendous comfort to investors who are eager to use the details for tax filing purposes. LTCG tax statement is the best in the tax filing season.
In addition to the enhanced capital gains statement, CAMS has also issued a unique statement for the equity schemes with higher capital gains. With the relaxation of income earned in equity-oriented schemes in the Union Budget 2018 till January 31, 2018, this statement will provide investors with a clear view of the unit balance, net asset value (NAV) and fair market value as on January 31, 2018. Equity schemes are served in 15 mutual fund CAMS. Investors can use the statement as a ready reckoner to review their equity holdings with a January 31, 2018 valuation.
Both statements are served as part of the CAMS “mail-back services” from the CAMS website. Mail back statements are delivered securely to the investor’s registered email ID and are free.
CAMS represent 15 mutual funds as a trading partner and holds 64% of the assets of the mutual fund industry.