How to download Kotak Securities P&L statement and upload for ITR filing online: A Step-by-step guide

Kotak Securities, a subsidiary of Kotak Mahindra Bank, is one of India's oldest brokerage houses. The stockbroker offers various types of investment services in equities, derivatives, mutual funds, commodities, currency and other asset classes. It also allows its customers to access international stock markets.

However, downloading the Profit and Loss (P&L) report or statement to file Income Tax returns often confuses customers. Therefore, here in this article, we have discussed the procedure involved in downloading a P&L statement from Kotak Securities and how to file ITR with it via Cleartax.

Kotak Securities Profit and Loss (P&L) Statement

In any financial year, a trader or investor will participate in transactions that may result in capital losses or gains. These are defined as gains/losses made from selling/transferring capital assets. Like any other form of income, capital gains are taxable in India under the Income Tax Act, 1961.

Calculating the capital gains or losses from numerous transactions is indeed quite a hassle. Hence, Kotak Securities enables customers to download computer-generated profit and loss (P&L) statements to make things more convenient. These reports are also known as capital gain reports, and they provide consolidated details of profit or loss gained or incurred in all transactions during a financial year. 

This statement not only helps in the convenient filing of Income tax returns but also helps in the internal analysis of investments and their performances.

How to Check and Download the Profit and Loss Statement from Kotak Securities?

Here is the step-by-step guide for checking and downloading a P/L statement from Kotak Securities:

Step 1: Log in to the Kotak Securities trading portal by entering your user ID and password.

Step 2: On the homepage, click on the ‘More’ option in the top right corner; then, head on to ‘Tools and Resources’ and click on ‘Reports and Statements’.

Step 3: Then a list of reports will appear on your screen. Click on ‘Capital Gain Statement’.

Step 4: This will redirect you to a capital gains report page, select the financial year as ‘2022-2023’ and click on ‘Details’ and then on ‘Go’ to proceed.

Step 5: It will now generate your profit and loss report or statement. You can click on 'Export to Excel' to download it on your computer. But here, the system will download the file in an Excel file format (.xls). You will need to convert it to the .csv format before uploading the same on Cleartax.

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

Below are the steps below to upload your Kotak 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 brokers will appear on your screen. Here you have to click on the ‘Kotak Securities’ icon.

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

Step 4: Cleartax will read and analyse the Kotak Securities P&L statement and fill up the ITR details automatically. 

Alternatively, you can upload the Kotak 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 Kotak 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.