Now you will received a Single Account Statement (Consolidated) for all your investment in different mutual funds schemes....

A very great and Welcome news for all mutual funds investors, the Association of Mutual Funds in India (AMFI) today said the mutual fund industry has implemented the SEBI directive to issue consolidated accounts statement (CAS) to its investors. "Commencing of the transactions from the month of October 2011..


Consolidated Account Statement (CAS) will be issued as a monthly statement to investors, if there are any transactions during the month. The consolidation of folios is on the basis of PAN Number provided by the investors. This is in compliance with the amendment to the Securities and Exchange Board of India's (Sebi) regulations with regard to issuance of monthly CAS.


The CAS will be in addition to the individual account statements that investors get from the their mutual fund houses

Now Pan details will become compulsory on transaction of 5 lakhs or more if you buy gold in cash!

The finance ministry is planning to make quoting of the permanent account number (PAN) mandatory for more transactions in order to avoid black money transactions.

The income tax department may make quoting of PAN in documents for sale and purchase of bullion or jewellery involving cash transfer of Rs 5 lakh or more mandatory.

Rules are being changed with regard to PAN requirement in cash transactions to track the investment pattern of high net worth individuals.

Source: Business Standard