Learn how to obtain your Capital Gain Statements for Income Tax filing in just a few easy steps!
At the beginning of every financial year, investors usually spend significant time researching and selecting the best investment options. While reaping the benefits throughout the year, the end of the financial year brings the inevitable question: “How much did I earn this year?”
This often leads to the need to calculate capital gains and pay the appropriate taxes, which can be a source of stress and uncertainty.
Fortunately, obtaining your capital gain statement from your broker can help ease this burden.
In this article, we will discuss the importance of this document and guide you through the process of obtaining it. By following these steps, you can confidently file your Income-Tax Return (ITR) and take control of your financial future.
What is Capital Gain Tax?
Capital gain tax is levied on the profits or losses you earn by selling financial assets like stocks and bonds. This tax is applicable under the Income Tax Act and is charged on the gain made from the asset’s sale.
A capital gain occurs when the selling price is higher than the buying price, while a capital loss occurs when the buying price is greater than the selling price.
It’s important to note that you only pay capital gain tax if you have sold the asset in the specified financial year. If you haven’t sold your investment, you are not required to pay the capital gain tax.
How Much Tax Do You Have to Pay?
If you sell your investment within 12 months of purchase, you will be required to pay a short-term capital gain (STCG) tax of 15%, regardless of your tax slab. On the other hand, selling your investment after holding it for more than 12 months will attract a long-term capital gain (LTCG) tax.
An LTCG of more than Rs 1 lakh on the sale of your investment will be subject to a capital gains tax of 10% (plus applicable cess). However, it’s important to note that the benefit of indexation will not be available in this case. Indexation is a method that helps adjust your inflation returns and reduce tax payments.
Is Paying Capital Gains Tax Important?
It’s crucial to pay your capital gains tax as your income from the sale of any financial asset is taxable, and it’s mandatory to report it to the Income Tax Department. Failure to do so can result in fines and penalties.
If you are unsure how to obtain your capital gains statement, there’s no need to worry. You can sigh in relief as we are here to guide you through the process.
If you have linked your Teji Mandi investment with one of the following brokers, follow these instructions:
Zerodha: Log in to ‘ Zerodha Console’ to get the capital gain report for a tax audit.
Read the detailed process here.
5Paisa: Log in to your 5Paisa account, click on the profile logo, go to ‘My Reports’, choose Portfolio, select necessary filters, and click on the PDF or excel option.
Upstox: Log in to your Upstox’s back office and download the P&L statement.
Read the detailed process here.
Groww: Log in to the Groww app, go to your profile, and click on reports.
Read the detailed process here.
Kotak Securities:
- Log in to the Kotak Securities platform.
- Go to reports.
- Select trade.
- Apply a filter to download the statement.
Read the detailed process here.
Angel One: Log in to Angel One platform, go to reports, and select the transactional report.
Read the detailed process here.
AxisDirect: Log in to the Axis Direct platform, select your portfolio, and download the report.
Read the detailed process here.
HDFC Securities: Log in to the HDFC Securities account, click on your portfolio, and go to capital gains.
Read the detailed process here.
IIFL Securities: Log in to IIFL Securities and follow these steps.
Alice Blue: Log in to Alice Blue’s back office and click ‘Global P&L Report’ to get your profit and loss statement for a tax audit.
Read the detailed process here.
Edelweiss: Click on the ‘My Portfolio’ section, go to historical performance, and download the statement.
Read the detailed process here.
Trustline: Log in to Trustline’s back office and follow this process.
ICICI Direct:
- Log in to your account.
- Go to ‘Trade and Invest.’
- Click on ‘Portfolio.’
- Download your report.
Read the detailed process here .
Dhan: To download your statement, if you are a Dhan user, log in to your Dhan account and download the statement.
FundzBazar: If you have invested using your FundzBazar account, drop an email at [email protected] to request your statement.
Motilal Oswal: If you have invested using your Motilal Oswal account, log in to their back office, go to ‘Capital Gains,’ and select ‘Equity MOSL + Non-MOSL.’
Read the detailed process here .
Now that you know how to obtain your capital gain statement, it’s time to focus on identifying additional opportunities to make money.
Did You Know?
Teji Mandi Multiplier portfolio generated a CAGR return of 33.33% (as of 31st March 2023).
Start the new year with well-performing investments. Click here to invest!
