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STT in CAMS statement not being captured

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  • STT in CAMS statement not being captured

    MProfit does not capture STT paid on redemption of Equity MFs scheme Units in the STT field. The STT paid is reflected separately in CAMS statement. After the import of the CAMS statement, one has to physically edit the entries in MProfit to increase the Sale amount by the STT amount and input STT amount in the STT field so that Net consideration is correctly captured - the amount credited to investor's bank account by the MF. This should be done so that in the Capital Gains statement for Income Tax, the redemption amount is correctly reflected as gross amount before STT amount & STT amount is not claimed as a deduction for working out Capital Gains. I had enquired earlier as to why the STT is not getting imported in MProfit to which MProfit had replied that in the CAMS statement, the STT is not captured as a separate standard field and hence this figure is not getting imported in MProfit. I think MProfit can speak to CAMS to get this issue resolved and standardized for the benefit of investors to reflect correct Redemption proceeds and not claim STT amount as a deduction from Capital Gains by mistake.

  • #2
    Dear Kamlesh Vakmsey,

    Due to complexity of CAMS PDF statement, we have not added feature to capture STT. Our technical team is still reviewing this. Once we find the solution we will support this
    MProfit Support