CDSL and NSDL jointly launches unified investor app
The users will be able to view information about all of their stock market investments in one location, including holdings, margin requirements, profit and loss, and brokerages.
CDSL and NSDL jointly launches unified investor app
To manage investments, shareholder resolutions, and tax information, the two depositories, CDSL and NSDL, have teamed up to offer a single investor app.
According to Kamlesh Varsheny, a long-time member of the Securities and Exchange Board (Sebi), who launched the new app here on Thursday, users will be able to view information about all of their stock market investments in one location, including holdings, margin requirements, profit and loss, and brokerages.
Additionally, it will enable taxpayers to monitor the quarterly investment data given to the Central Board of Direct Taxes and give shareholders the ability to vote on resolutions across corporations.
According to Varshney, who was a joint secretary for tax policy and legislation in the Union Revenue Department before joining the Sebi, one of the main benefits of the app, is that investors may monitor the data given to the CBDT quarterly.
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This is important as hardly anyone checks their annual information statement (AIS) regularly, which they check only at the end of the financial year.
Therefore, if there is any mistake, it would be hard to correct it. But with this app, this information can now be tracked as and when it is sent to the CBDT, every quarter. If there is any mistake, the investor can get in touch with the depository and ask for the revision to be done.
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