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

Fyers is a Bengaluru-based trading platform founded in 2016, which has quickly risen to prominence in the financial technology sector, and exhibits innovation and user-centricity. Fyers has challenged established brokerage methods with its cutting-edge trading platform, intending to empower individuals and make investing accessible to all. The company also allows investors to trade across numerous asset classes with ease because of its smooth and straightforward interface. 

Fyers play an important function in assisting individuals in properly managing their profit and loss accounts. Traders have access to detailed information, such as profit and loss statements, that clearly show their financial performance. Users may find profitable opportunities, measure risk exposure, and optimise their trading strategies using Fyers' powerful analytics and configurable dashboards. 

In this article, we will guide you through the steps to check and download your capital gain statement via Fyers and upload it on Cleartax for ITR filing.

Fyers Profit and Loss (P&L) Statement

Capital gains are the profits you earn from selling different capital assets such as bonds, stocks, investments or mutual funds. An investor selling his asset at a price higher than the purchase price is termed as a gain. The capital gain can either be short-term or long-term, based on the asset's holding period.  

Capital gain is taxable while filing your income tax return. The profit and loss statement is critical in assisting investors when it comes to evaluating their tax liabilities on capital gains. 

Fyers provides clients with a detailed profit and loss statement, offering a comprehensive overview of their investments, funds, and stocks. This statement consolidates the financial performance of the investor's portfolio, displaying key metrics such as total investment, realised gains or losses, dividends received, and any applicable expenses or charges.

By reviewing the Fyers Profit and Loss Statement, investors can gain an understanding of investment returns and evaluate the success of their investment strategy. It enables them to identify profitable investments and those that may require reevaluation or adjustment. Furthermore, the statement serves as a reliable reference for tax filing purposes. 

How to Check and Download P&L Statement from Fyers?

To check and download your profit and loss statement from Fyers, follow the steps below:

Step 1: Visit the official website of Fyers. 

Step 2: Enter your login credentials, such as Client ID, Pin and OTP.

Step 3: Click the ‘Tax PNL’ option available on the left side of the page. Select the financial year as ‘2022’ and click ‘Submit’. Click on the Excel icon to download the report.

How to Upload Fyers P&L Statement and File ITR on Cleartax?

To upload your P&L statement for ITR filing using the Cleartax platform, follow the steps below:

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: You will be given a list of all the well-known brokerage platforms in India. Choose the ‘Fyers’ icon.

Step 3: Now, upload the Fyers P&L statement by clicking on ‘Browse Files’. Cleartax will automatically read and fill in the data pertaining to the capital gains statement and report the details for ITR filing.

Alternatively, you can upload the Fyers 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 Fyers. 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.