personal finance

Now get instant capital gains statement on ETMONEY for all your mutual fund investments


New Delhi: It is the income tax return (ITR) filing season and to make the process easier, integrated personal finance platform, ETMONEY, has rolled out a new feature. This feature will help tax-payers get an instant summary of the capital gains on their mutual fund investments. The investor can instantly get their capital gains statement across all investments, whether or not they have invested through ETMONEY.

What is ETMONEY Capital Gains Statement?

Recent changes by the government in the taxation of mutual funds has made the task of calculating the taxable gains more complex. In Budget 2018, the government introduced long-term capital gains (LTCG) tax of 10 percent with benefit of indexation, if the annual profit from one’s equity investments exceeded Rs 1 lakh in a financial year. Moreover, there is also added complexity to be handled by individual investors as gains made till January 31, 2018 are allowed to be grand-fathered.

ETMONEY Capital Gains statement solves both these complexities and makes the process seamless.

How to use the feature?

This new feature solves the hassle of browsing multiple mutual fund websites to collate statements and then calculate net gains or losses on the investments each financial year. Investors can now log into the ETMONEY app, generate the statement of all their mutual fund investments and get their capital gains summary instantly. The summary provides a simple breakdown of the short and long term capital gains of an investor’s equity and debt investments for the year.

Users can also opt-in for auto-update wherein the statement will be automatically generated and sent to them during the tax season every year.

ETMONEY CEO Mukesh Kalra said, “Capital Gains calculation on mutual fund investments is cumbersome – gathering all investments from multiple places, calculating the profits for the year and then trying to figure out the exact taxable gains by understanding the taxation rules. It’s also a recurring pain every year. With ETMONEY’s automated Capital Gains, we are removing this pain for everyone. Regardless of whether you have invested from ETMONEY or elsewhere, this benefit is available to more than 20 million mutual fund Investors across India. With the last date of Tax Filing only a few weeks away, we want to help the maximum number of Indians to organize this information effortlessly.”

(ETMONEY is a Times Internet company, publisher of the website, economictimes.com)





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