The fiscal policy of the year 2078/79 has revised the capital gain tax to be levied on investors when they sell their securities. It is maintained at 7.5% to the investors holding for less than 365 days and 5% for those who hold it less than 365 days. The new capital gain tax is effective from Shrawan 1, 2078. This change in policy is followed by the new update in MeroShare by CDSC on 3rd of Shrawan 2078.
According to CDS and Clearing Limited (CDSC), investors can now calculate their holding period for calculating WACC and doing EDIS whenever they sell their stocks. WACC is the weighted average cost of capital which is crucial for calculating the capital gain tax.
A capital gain tax is levied on the profit amount which the investors make while selling their holdings at a higher rate than the purchase price. Since it differs now as per the holding period, MeroShare is allowing the investors to calculate their holding period.
For this, MeroShare has recently updated its EDIS feature in its system. EDIS stands for Electronic Debit Instruction Slip. Investors need to transfer the shares to the broker’s account through EDIS after they sell the scrip. And before that, they must update WACC through their MeroShare account.
How to do EDIS through MeroShare?
Most of us might be overwhelmed with the new update in MeroShare. Well, it is way too easy to calculate the holding period. First of all, one must download MeroShare app in their device. This new update works best in the mobile app at present. CDSC is working on to update it fully in the web version too.
Then, you need to follow these steps:
Log in to your MeroShare account
Then among the option at the bottom, click on “More”
Select “My Purchase Source”
Search for the scrip you sold and confirm your WACC rate.
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