We have more than 11,000 Mutual Fund Schemes that are currently available in the market (Equity & Debt Schemes as on Sep, 2016). Majority of us, do invest in multiple schemes in the name of Diversification.
If you are investing in Mutual Funds through any online distribution platforms, it can be a very easy task to get your Mutual fund transaction report (or) a capital gain statement.
What if you are investing in mutual funds directly through the websites of Mutual Fund house(s), especially in Direct Mutual Fund plans? What If you are in need of a Mutual fund consolidated account statement of all your old transactions as well?
If you have invested in an ELSS fund for tax saving purposes, MF statement which reflects your investments can be a very useful document. It can also be considered as an investment proof for tax declaration purposes.
If you have redeemed / sold mutual fund units of one or more MF Schemes in a Financial year, you need to calculate Capital gains (short term / long term), to ascertain if you need to pay any taxes on your gains. (Read : ‘Mutual Fund Taxation rules‘)
So, how to get these useful statements online and for free? Who maintains the records of your MF transactions?
Who are Registrar & Transfer Agents?
You as a mutual fund investor, do a number of transactions, these can be buying, selling or switching mutual fund units. You may also request for a bank address change or an address change. Each such request is a transaction by itself. Mutual fund houses have to maintain records of all these transactions.
It can be a challenging task for a mutual fund house to perform these routine and non-core activities on a daily basis. Hence, most of the mutual fund houses outsource these activities to R&T Agents. An R&T agent assists all three stakeholders i.e., AMC, investor and intermediary (distributors). Below are the main R&T agents in India ;
- CAMS (Computer Age Management Services)
- Sundaram BNP Pribas Fund Services (SBFS)
- Franklin Templeton Asset Mgmnt Ltd (FTAMIL is an in-house R&T for Franklin Templeton Mutual Funds)
CAMS is the main R&T agent and services more than half of the mutual fund industry. CAMS serviced Funds are : Birla Sun life MF, DSP Blackrock MF, HDFC Mutual Fund, HSBC, ICICI Prudential MF, IDFC MF, IIFL MF, Kotak Mutual Fund, L&T MF, Mahindra MF, PPFAS MF, SBI MF, Shriram MF, TATA mutual fund & Union bank MF.
Karvy provides R&T agent services to mutual fund houses like ; Axis Mutual Fund, Baroda Pioneer Mutual Fund, BOI AXA Mutual Fund, Canara Robeco, DHFL Pramerica Mutual Fund, IDBI Mutual Fund, INVESCO Mutual Fund, JM Financial Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Peerless Mutual Fund, Principal Mutual Fund, Reliance MF, Quantum Mutual Fund, Taurus Mutual Fund, UTI MF etc.,
How to get Mutual Fund Consolidated Account Statement (CAS) online?
You can get mutual fund CAS for the funds serviced by respective R&T agents until a few months back, but now an investor can submit an online request for consolidated mutual fund statement for all MF schemes in one go.
You can now request for a Consolidated Account Statement across your entire holdings in KARVY, CAMS, FTAMIL and SBFS serviced Mutual Funds.
If you have registered an email address in your folios across Funds serviced by KARVY, CAMS, FTAMIL and SBFS, you can use this to obtain a consolidated PDF Account Statement at your registered email address.
You need to set a Password when submitting your request for consolidated statement. The statement will be encrypted using the password provided by you, and emailed only to the address provided earlier in your MF application form.
Below are the links to get consolidated statements. You can visit any of the below two links to submit your request for CAS.
How to receive Mutual Fund Capital Gains Statement online?
Unlike the MF Consolidated account statement, you can get Capital gains statements for the respective R&T agent serviced funds only. Below are the links to submit your requests for Capital Gain statement (Realized Gains statements);
- CAMS Consolidated realized gain statement / capital gain statement.
- Karvy’s Mail-back services
- Capital Gain statement by Email-Id
- Capital Gain Statement by Folio number
- Franklin Templeton Mail-back notifications
How to get Mutual Funds Capital Gains Statement with NAVs as on 31st January, 2018?
As per the earlier tax rule, equity investors need not pay any tax on long term capital gains. If investments in equity mutual funds or Stocks are sold within a year, gains will be treated as short term capital gains and taxed at 15 %.
However, the finance minister in his Budget 2018-19, has proposed to tax long term capitals gains of over Rs 1 lakh at 10% without indexation benefit.
To calculate LTCG the cut off date for NAVs is 31st January, 2018. So, if you would like to download a MF statement to calculate your LTCG tax (if any) then you can get such specific reports through R&T Agents. As of now, CAMS has made a report ‘Consolidated Statement – Grandfathered Equity oriented Schemes as of 31st January, 2018’ available through their ‘Mailback services’.
- Kindly visit CAMS – Mailback Services online facility. Click on the any of the below options.
- In the next window, provide your details and required period to get the report via Email.
Once you submit the request(s), you will get the statements by email, mostly within few minutes else in few hours. In your email message, click on PDF file (or) suggested Link, enter the password that you have set and download the statement(s).
It does not really matter what is your preferred ‘Mode’ of investing in mutual funds ; it can be online, offline, through mutual fund agent, Demat account or mutual fund distribution platforms, you can still get Mutual Fund Consolidated account statement online & for free!
Continue reading :
- Mutual Fund Capital Gains Tax Rates Chart for FY 2017-18 / AY 2018-19
- Mutual Fund Taxation rules for FY 2018-19 / AY 2019-20
- 10% LTCG Tax on sale of Equity Mutual Funds | Budget 2018-19
- Budget 2018 LTCG Tax on Equity Mutual Funds & Important Implications
(Image courtesy of Stuart Miles at FreeDigitalPhotos.net) (References : CAMS, Karvy & Franklin Templeton websites) (Post first published on 14-February-2017)