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Consolidated Account Statement: How to Get One and Why It`s Important

Consolidated Account Statement: How to Get One and Why It`s Important

How to Get a Consolidated Account Statement

Consolidated Account Statement, or CAS, is a statement that provides a consolidated view of all your financial assets across different investment products, including mutual funds, stocks, bonds, and more. It`s a useful tool for individuals to track their investments and financial assets in one place.

Here`s how you can get a account statement:

Through CAMS or Karvy

CAMS (Computer Age Management Services) and Karvy are two of the major registrars and transfer agents for mutual funds in India. They provide the facility to generate a consolidated account statement for your mutual fund investments. You can visit their respective websites and follow the steps to get your CAS.

Through NSDL or CDSL

NSDL (National Securities Depository Limited) and CDSL (Central Depository Services Limited) are the two depositories in India that provide the facility to view and download a consolidated account statement for your demat account holdings. You can log in to their respective websites to access your CAS.

Through Stock Brokers and Depository Participants

If you have investments in stocks and other securities, your stock broker or depository participant can also help you obtain a consolidated account statement for your holdings. They usually have online platforms or mobile apps where you can access this information.

By Requesting from Financial Institutions

Many financial institutions, such as banks, mutual fund houses, and insurance companies, also provide CAS to their customers. You can reach out to them and request for a consolidated account statement for your investments with them.

Benefits of Consolidated Account Statement

Having a consolidated account statement offers several benefits, including:

Benefit Description
Single View of Investments Allows you to see all your investments in one place, making it easier to track and manage them.
Easy Tax Filing Helps in calculating capital gains and losses for tax filing purposes.
Portfolio Diversification Enables you to assess your asset allocation and diversification across different investment products.

Case Study: The Importance of CAS

Let`s consider the case of Mr. Sharma, an investor with investments in mutual funds, stocks, and bonds. He was finding it difficult to keep track of his various investments and their performance. Upon obtaining a consolidated account statement, he was able to gain a better understanding of his overall portfolio and make informed investment decisions.

Obtaining a consolidated account statement is essential for individuals with diverse investment holdings. It provides a comprehensive view of their financial assets and aids in better financial planning and decision making.

 

Frequently Asked Legal Questions About How to Get a Consolidated Account Statement

Question Answer
1. What a account statement? A consolidated account statement is a comprehensive document that provides a summary of all your financial accounts, including bank accounts, demat accounts, and mutual fund investments, in one place. It helps you track your overall financial position and make informed decisions.
2. How I get a account statement? To get a consolidated account statement, you can request it from your financial institution or use their online portal to generate one. Some institutions also provide the option to receive it via email or physical mail.
3. Are charges for a account statement? Most financial institutions offer the consolidated account statement free of charge. However, some may levy a nominal fee for physical copies or additional requests within a short period.
4. How should I a account statement? It is recommended to request a consolidated account statement at least once a year to review your financial holdings and ensure accuracy. If have frequent or changes in your investments, more frequent may beneficial.
5. Can I use a consolidated account statement as a legal document? While a account statement provides a view of your accounts, it is not a legally document. For specific legal purposes, such as tax filings or asset verification, you may need to obtain certified copies or official statements from the respective financial institutions.
6. Is a consolidated account statement accepted as proof of income? A account statement may not be accepted as proof income, especially for purposes loan or visa processing. Is to provide specific income or tax for such requirements.
7. Can I authorize someone else to collect my consolidated account statement on my behalf? Yes, you can authorize a representative, such as a family member or power of attorney holder, to collect your consolidated account statement. Ensure that the authorization is documented and complies with the requirements of your financial institution.
8. What I if discrepancies in my account statement? If you any in your account statement, as incorrect or transactions, notify your financial institution and a investigation. Records of your for reference.
9. Can I my account statement online? Many financial institutions offer the convenience of accessing and downloading your consolidated account statement through their secure online platforms. This allows you to view, print, or save the statement as per your convenience.
10. What included in a account statement? A consolidated account statement typically includes details of your account holdings, transactions, investment returns, and any associated charges or fees. Provides a view of your activities for a period.

 

Account Statement Contract

This contract is entered into on this day [Date] between the parties [Company Name] and [Client Name] relating to the provision of a consolidated account statement.

Clause Description
1. Parties This clause sets out the names and addresses of the parties entering into this contract.
2. Definitions This clause provides definitions for the key terms used in this contract, including “consolidated account statement” and “client.”
3. Scope Services This clause outlines the services to be provided by the company, including the format and frequency of the consolidated account statement.
4. Fees Payment This clause details the fees associated with the provision of the consolidated account statement and the terms of payment.
5. Confidentiality This clause addresses the confidentiality of the client`s financial information and the company`s obligation to maintain confidentiality.
6. Term Termination This clause sets out the term of the contract and the circumstances under which either party may terminate the contract.
7. Governing Law This clause specifies the governing law of the contract and the jurisdiction for any disputes that may arise.
8. Entire Agreement This clause confirms that the contract constitutes the entire agreement between the parties and supersedes any previous agreements or understandings.

IN WITNESS WHEREOF, the parties have executed this contract as of the date first above written.