How to Download Axis Direct P&L Statement and Upload for ITR Filing Online?

Axis Direct is a subsidiary of India’s third largest bank, Axis Group, whose motto is to implement passion and innovation towards the services they offer to customers. In a short time, the company has grown significantly and has become a leading player in the Retail broking sector.

Axis Direct has the vision to become a key partner in marketing the products of Axis Bank by implementing innovation, customer experience, process and production efficiency. The investment solutions offered by Axis Direct are associated with equity, derivatives, initial public offering, SIPs, mutual funds, tax planning and more.

After investing in securities, you must check the gains or losses you made from them and report them while filing ITR. Axis Direct helps you in checking your capital gains by allowing you to download your profit and loss statement.

Therefore, in this article, we will guide you through some easy steps that you can use to download and check your capital gains report. Moreover, we will also discuss the steps to upload your statement on the Cleartax platform for ITR filing. 

Axis Direct Profit and Loss (P&L) Statement

An investor’s capital gains are taxed under the heading "Capital Gains Income". In this regard, the profit and loss statement is an important document for taxpayers to report their capital gains income. 

Brokerage firms like Axis Direct allow their customers to get aggregated reports of profit and loss incurred against various types of assets. 

Investors frequently use the profit and loss statement to track and assess their investment portfolio's success. It gives information on the gains and losses made on investments, allowing investors to make educated decisions about purchasing, selling, or keeping assets. 

The information on the P&L statement is also required for Income tax return filing. To make it easy for investors, Axis Direct allows customers to check and download the capital gains report on their platform by following a few easy steps. The profit and loss statement that you get to download comprises details of all transactions related to your financial products, such as mutual funds, securities, bonds and others.

How to Check and Download Profit and Loss Statements from Axis Direct?

To easily check and download your profits and loss statement via Axis Direct, follow the steps discussed below:

Step 1: Visit the official website of Axis Direct and click on the 'Login' option.

Step 2: On the next page, input your credentials to log in.

Step 3: Navigate to the ‘Portfolio’ section under the ‘Equity & Derivatives’ option. 

Step 4: Click ‘Reports’ under the ‘Portfolio’ section. Select ‘Capital Gains/Loss Statement’ inside the ‘Reports’ section.

Step 5: Select the timeframe as ‘2022-2023’ and click the 'Go' option to download the report.

Step 6: Click on the ‘Download’ button on the right side of the page. The P&L statement will get downloaded. 

How to Upload Axis Direct P&L Statement and File ITR via Cleartax?

After you have downloaded your profit and loss statement, you can easily upload it on Cleartax for hassle-free and quick ITR filing by following the below steps:

Step 1: Sign up on the Cleartax portal and navigate to the ‘Income Sources’ section. Then, under ‘Capital Gain Income’, click ‘Add Details’.

Step 2: A list of brokers will appear on your screen. Here you have to click on the ‘Axis Securities’ icon. 

Step 3: Now, upload the Axis Securities P&L statement by clicking on ‘Browse Files’. Cleartax will scan this document and import the necessary information.

Alternatively, you can upload the Axis Securities P&L statement using the Cleartax template by following the below steps:

Step 1: Log in or sign up on the Cleartax portal and navigate to the ‘Income Sources’ section. Click on the ‘Add Details’ button under the ‘Capital Gain Income’ heading.

Step 2: Scroll down and click on the ‘Use Cleartax Template’ button under the ‘Don’t see your brokers above? Use Cleartax template’ heading.

Step 3: Download the template by clicking on the ‘Download Template’ button in the first step. Enter the details of your capital gain investments as instructed in the template and upload the template by clicking on the ‘Browse Files’ button. Cleartax will read your transactions and calculate your capital gains details within minutes. 

Investors can follow the above steps to easily download their profit and loss statements for their stocks and mutual fund investments on Axis Securities. They can further upload them to Cleartax’s portal to instantly import their investment data for filing ITR. This process saves time and allows you to avoid any errors that may happen with manual entries. Further, Cleartax processes 1000s of transactions in seconds and calculates complex taxes in a minute. 

File your ITR now with Cleartax and take taxes off your mind.

Frequently Asked Questions

Which ITR form applies to Axis Direct Trading platform users (long-term investors and traders)?

If there is a gain from the sale of equity shares and mutual funds, then such income is categorised under the head head’ income from capital gains’. Individuals earning such income and not having income from business or profession can file ITR-2. However, income/loss from intraday or F&O transactions are treated as business income (speculative business). In such cases, you should file ITR-3. It is not required to choose the ITR form on Cleartax. It will automatically select the appropriate ITR forms.

How to file taxes if I trade through multiple brokers? 

You can upload multiple capital gains statements from different brokers on Cleartax. We have partnered with brokers like CAMS, Zerodha, Upstox, Paytm Money, Groww, 5Paisa, Kfintech, Sharekhan, ICICI direct, etc., to simplify the capital gains tax calculations for the investors.

How does tax-loss harvesting work when I file through Cleartax?

You have to add the previous year’s losses/depreciation on Cleartax. Then previous year’s loss is automatically brought forward and adjusted with the current year’s income as per the Income Tax rules. 

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