Ask PMS for quarterly audited statement of transactions in your account

When investing in a portfolio management service (PMS), don’t just look at the returns and performance of its schemes. Make sure that the PMS provider also gives out quarterly audited (or even unaudited/provisional)  statements of the transactions in your account, to help you pay the right amount of tax and on time. Helping a client prepare her income tax return turned out to be more time-consuming than Kolkata-based investment advisor Malhar Majumder had expected it to be. Majumder had to go back and forth with his client’s PMS provider to get details of transactions an.....

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