How to download LTCG Tax Statement of Equity Mutual Funds?

We all know that effective from 1st April 2018, we have to pay tax on equity mutual funds if there is LTCG. However, the biggest task is how to calculate or identify the NAVs. To make your life simple, we can now download LTCG Tax Statement of Equity Mutual Funds.

Effective from 1 April 2018, equity mutual funds and direct equity investments will attract 10% long-term capital gains (LTCG) tax on gains exceeding Rs1 lakh a year.

Before proceeding further, let us first understand the taxation of Mutual Funds.

3 Factors that determine the Mutual Fund Taxation

First, let us understand what are the factors that determine the Mutual Fund Taxation. The three major part of these are below.

# Your Residential Status-Resident or Non-Resident (NRI)

Your tax will be based on your residential status. If you are resident then the taxation rules will be different and if NRI then it differs. Hence, first, you have to make sure of what is your residential status.

# Types of Funds-Equity Funds or Non-Equity Funds-

Any fund which invests 65% or more in equity is called as Equity Fund. For example, large-cap funds, multi-cap funds, small and mid-cap funds or equity-oriented balanced funds (where the equity exposure is 65% or more) are all called equity-oriented funds.

If the equity portion is less than that, then they are all treated as debt funds or non-equity funds. For example liquid funds, ultra-short term funds, short-term funds, income funds, gilt funds, debt-oriented balanced funds, gold funds, fund of funds or money market funds.

# Holding periods of Investment–

The holding period for Equity and Debt Funds will be different for taxation purpose. For equity funds, if the holding period more than a year, then it is called long term. If the holding period is less than a year, then such equity mutual funds holding period is considered as short term. Whereas in

Whereas in the case of debt funds, holding period more than 3 years is considered as long-term. If holding period of debt funds is less than 3 years, then it is considered as short-term and taxed accordingly.

I will try to explain the same from below chart.

Mutual Fund Taxation FY 2018-19

Now you got the clarity on what will be STCG and LTCG. Let us move further and understand the Capital Gain Taxation for mutual fund investors.

Mutual Fund Taxation FY 2018-19 -Capital Gain Tax Rates

The biggest change from FY 2018-19 is the introduction of LTCG in Budget 2018. Below chart will give you the picture of that. Refer a detailed post on this subject at “Budget 2018 – Mutual Fund Taxation FY 2018-19“.

Mutual Fund Taxation FY 2018-19 -Capital Gain Tax Rate

 

Note-Surcharge @ 15%, is applicable where the income of Individual/HUF unit holders exceeds Rs. 1 crore. Also, surcharge @10% to be levied in case of individual/ HUF unitholders where the income of such unitholders exceeds Rs.50 lakhs but does not exceed Rs.1 Cr. Further, Health and Education Cess @ 4% will continue to apply on the aggregate of tax and surcharge.

How will the LTCG Tax on Equity Mutual Funds be calculated?

After Budget 2018 announcement, as you are aware that you have to pay 10% LTCG Tax on Equity related products also. Below is the method to calculate the LTCG Tax on Equity Mutual Funds be calculated (Refer a detailed post at “Budget 2018 LTCG Tax on Stocks and Mutual funds“.)

Budget 2018 LTCG Tax on Stocks and Mutual funds

How to download LTCG Tax Statement of Equity Mutual Funds?

Now this above Budget 2018 announcement made the date 31st January 2018 as the most important date for all equity and equity mutual fund investors. Because based on the value of as on 31st January 2018, you have to pay the LTCG Tax.

Hence, it is a cumbersome task for mutual fund investors to mark that date and identify the NAV and the gain as on 31st January 2018.

In order to avoid such difficulty, CAMS and Karvy came with the LTCG Tax Statement of Equity Mutual Funds. Using this feature you can easily download the values and calculate your tax.

As of now, CAMS and Karvy started this facility and in coming days remaining R&T Agents will also start providing this statement.

The list of CAMS serving Mutual Fund Companies is as below.

  1. HDFC Mutual Fund
  2. DSPBR Mutual Fund
  3. Birla Sunlife Mutual Fund
  4. HSBC Mutual Fund
  5. ICICI Prudential Mutual Fund
  6. IDFC Mutual Fund
  7. IIFL Mutual Fund
  8. Kotak Mutual Fund
  9. L&T Mutual Fund
  10. Mahindra Mutual Fund
  11. PPFAS Mutual Fund
  12. SBI Mutual Fund
  13. Shriram Mutual Fund
  14. Tata Mutual Fund
  15. Union Mutual Fund

Hence, if you used CAMS online platform to link Aadhaar to Mutual Funds folios online, then it means that you automatically linked to all Mutual Funds which you are holding in these above listed mutual fund companies.

Along with CAMS, there are other Transfers Agents and they are as below.

  • Karvy Computers (Provides services to rest of AMCs)
  • Franklin Templeton International Services (Provides services only to Franklin Templeton Mutual Funds)
  • Sundaram BNP Paribas Fund Services (Provides services only to Sundaram and BNP Paribas Mutual Funds)

In CAMS portal you will find two types of statement to download LTCG Tax Statement of Equity Mutual Funds. They are as below.

# Consolidated Grandfathered Statement of Equity Mutual Funds

In this statement, you will come to know the NAV, Unit Balance and Fair Market Value as on 31st January 2018. The statement looks like below.

download LTCG Tax Statement of Equity Mutual Funds

# Capital Gain Statements of Equity Mutual Funds

The enhanced Capital gain/loss statement will allow investors to view the consolidated capital gains/losses across all mutual funds that are serviced by CAMS. Along with providing short-term and long-term capital gain /loss, the statement will also provide the original cost and the NAV as on 31st January 2018.

You can download the same under myCAMS—>Statements—>Realised Gains.

download LTCG Tax Statement of Equity Mutual Funds CAMS

Both these statements are served as part of CAMS “mail back services” from CAMS website. Hence, you will receive both statements to your registered email id and it is completely free.

How to download LTCG Tax Statement of Equity Mutual Funds from Karvy?

Now Karvy also started an option to provide the LTCG Tax Statement of Equity Mutual Funds to unitholders where Karvy is R&T Agents.

You have to visit this link of KARY. You have to provide the registered Email Id and enter the new password. Then you have to select the time period of the statement. Then you can download the statement easily.

As I said above, as of now CAMS and Karvy started this facility. Once other R&T Agents start this, then I will update this post again.

28 Comments

  1. Hi Basu,
    We have just launched a feature that allows mutual fund investors to get a consolidated capital gain statement. It also gives an estimated tax liability. Your readers might find it useful.

    Reply
  2. Franklin & Sundaram are not coming under cams or karvy
    There web site is cumbersome

    Reply
  3. Sir,
    I am having NRE status and my income tax is paid in my working country. I am investing in equity mutual fund for last 5 years. My first question is If I have LTCG more than one lac then when i have to pay the tax (this year or 2019) and my second question is if LTCG is less then one lac then what i have to do?

    Reply
    • Dear Sikander,
      In Mutual Funds, the taxation will come into picture when you redeem the money. If your gain is less than one lakh, then you have to just show it under the head of exempt income category while filing IT Returns.

      Reply
      • Thank you for your response, i redeemed units form my mutual fund in may and june 2018. My question was do i have to file the IT this year or next year.

        Reply
        • Dear Sikander,
          If you redeemed in current FY, then you have to file IT return after this FY completion i.e for AY 2019-20.

          Reply
  4. What i am looking is , just getting single consolidated Capital Gain/Loss statement for given FY.

    I have funds with CAMS,KARVY,FTML and Sundaram. So instead of going each one , Just looking for single statement , where i can get all my holdings Capital gain/loss (ST/LT) for income tax filling purpose.

    Reply
    • Dear Vandhi,
      You have to wait for few more days like if MF platforms like MFU start to offer such consolidated statements.

      Reply
      • Thanks Basu,
        Kindly update us in your blog. Because consolidated statement is bliss ,when i am having so many funds and getting individual is tiresome

        Reply
    • Dear Vishwanath,
      Thanks for your sharing. I will update the same.

      Reply
  5. Hi Basu,

    Thanks for this article.

    I opened dmat account with ICICI direct 1o years back while I was in India. I got my UK citizenship and holding OCI status. Am I still eligible to invest in shares and mutual funds through my dmat account in ICICIdirect?

    I am interested to invest in mutual funds online, please advise me.

    Reply
    • Prasanna-You have to update in the change of your residential status with ICICI Direct and update the KYC also. Once it is done, then you can start investing in mutual funds.

      Reply
  6. I support Mayank Kothari. The calculation is right as done by Mayank.

    Mr. Tonagatti, please re look into your calculation.

    Reply
    • Karan-Let me know in detail the actual error. Because as per me it is correct. However, if there is actually an error, then it gives me an opportunity to learn and update the same.

      Reply
      • Your calculation is right sir, the way it is mentioned above got me confused. My Mistake.

        Reply
        • Karan-Thanks. But I confused myself when you both pointed that there is an error 🙂

          Reply
  7. Dear Basu

    The article is very interesting and elaborately explained. Can you write a similar article on ‘HOW TO DOWNLOAD LTCG TAX STATEMENT OF DEBT FUNDS’? Waiting to hear soon from you.

    Thanks.

    RK Bhuwalka

    Reply
    • Bhuwalka-Surely I will write. I write this post as Equity is now taxed in long-term and the 31st Jan 2018 is an important date.

      Reply
  8. Sir,
    1) I have been investing in SBI Blue chip MF Rs. 5000/- PM from 5th April 2017 and my income is below income tax slab. If I withdraw after 7-8 year, will it taxable if I would not in Income Tax slab then and income from here will Rs. 4 Lac or 5 lac.

    2) If I redeem the above fund after 5 or 6 year and proft from here Rs. 2 or 3 Lac can AMC deduct any LTCG tax from here ? (if then I am not in Income Tax slab.)

    3) Please refer me two best Mid or Small cap fund for invest 2018.

    Reply
      • Thank you Sir.

        Reply
      • Presently HDFC SMALL CAP FUND IS GOOD PERFORMING. Can I go to this fund for 8 years.

        Reply
  9. Calculation of LTCG in 1st chart seems wrong.
    Sell Price = 150
    31st January Price = 120

    So Taxable Gain = (150 – 120) * 10000 stocks = 300000.
    10% LTCG of 300000 = Rs. 30000.

    You have calculated it as 20000.

    Correct me in case I misunderstood it.

    Reply
    • Mayank-Please check the condition. It is HIGHER of (A) or (B). Also, again in (B) it is the lower of highest price on 31st Jan 2018 or actual selling price. Hence, in (B) lower is Rs.120 but not Rs.150 we have to consider. Now between (A) and (B) the higher is (B). Hence, we have to multiply 1,000 stocks with Rs.120, which is Rs.1,20,000. In that, up to Rs.1,00,000 there is no LTCG. Hence, the taxable LTCG is only Rs.20,000. I think you considered selling price itself to arrive at the capital gain.
      Let me know if I am wrong in any ways.

      Reply

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