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

IIFL Securities holds the legacy of being one of the largest independent institutional broking firms in India. As a popular investment advisory firm in India, IIFL Securities provides diversified financial services to institutional investors, retail investors, and corporates. 

It is one of the most renowned broking companies that use encrypted online platforms for secure trading. IIFL Securities also offers experienced fund managers to help investors achieve their goal of maximum capital gain. They also have a vast network of branches all across India to serve customers offline nationwide. 

You can track your investments and returns with IIFL Securities with the help of a Profit and Loss (P&L) Statement. This helps you to stay on the same page with your investments and plan your next moves. Furthermore, a P&L statement is also important when filing income tax returns. 

You can download this statement online by visiting the IIFL Securities portal. 

IIFL Securities Profit and Loss (P&L) Statement

Capital gains are those earnings that an individual makes by selling off assets. These assets might include mutual funds, stocks, commodities and real estate. The purchase and selling prices of such assets determine the profit, capital gains, or losses you will make. 

The holding period of these assets also impacts their selling price and, eventually, your tax liabilities. Hence, capital gains can be classified into short-term and long-term capital gains. 

If you are investing in such assets, keeping a record or track of your investments and their returns is important. It is here that the profit and loss statement comes into play. This important report entails all your investments and their returns over a specific period.

As an investor, you must check your P&L statement periodically to track your capital gains. With this analysis, you can plan your future investment strategies as well. Furthermore, a profit and loss statement is also important while filing income tax returns. 

While filing ITR online, you might have to input your capital gains manually. However, this can be a very long process and can leave room for errors. To avoid this, you can upload your P&L report to ClearTax’s portal to report the details for ITR filing automatically. 

How to Check and Download the Profit and Loss Statement in IIFL Securities?

Here are some easy steps to help you check and download your P&L statement in the portal of IIFL Securities. 

Step 1: Visit the IIFL Securities and log in with your credentials.

Step 2: Locate ‘My Account’, go to ‘Portfolio’, and click ‘P/L Summary/Realized’ option.

Step 3: On the ‘P/L Summary’ page, select ‘Product’ as ‘Cash’ and choose the financial year as ‘2022-2023’. Note that you must download the P&L report for every asset individually. If you are investing in 'Equity', 'Futures and Options' and ‘Mutual Funds’, you must download reports one by one for each, following the same method. 

Step 4: Click on the ‘Excel’ icon to download the report as an Excel sheet.  

How to Upload IIFL Securities P&L Statement and File ITR on ClearTax?

Below are the steps to upload the IIFL Securities P&L statement on ClearTax for ITR filing:

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 brokerage platforms will appear on your screen. Click on ‘IIFL Securities’ from the list. 

Step 3: Click ‘Browse Files’ to upload the P&L Statement you downloaded on your device. ClearTax will read the information and import the same in the required fields for ITR filing. 

Alternatively, you can upload the IIFL 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. 

Uploading the profit and loss statement on ClearTax helps you to save time and effort. It also lowers the scope of incorrect data entry, which might happen in manual instances. The above steps will allow you to easily download a P&L statement from IIFL Securities and file ITR easily. 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.