How to Download SMC Global P&L Statement and Upload for ITR Filing Online: Step-by-Step Guide

Founded in 1994, SMC Global is one of India’s leading diversified financial services providers. It offers brokerage services across equities, derivatives, currency, and commodities, along with insurance broking, depository services, mortgage advisory, real estate, and more.

With a presence in over 440 cities in India and abroad, SMC serves more than 20 lakh clients, backed by a strong vision of establishing a dominant position in financial and investment services through a customer-first approach. Its simple and intuitive platform allows investors to easily download profit & loss (P&L) statements, helping them track financial performance.

Since P&L statements are also essential for income tax return (ITR) filing, this article will guide you on downloading them from SMC and uploading them to ClearTax for hassle-free filing

You can directly upload the profit & loss statement of  SMC Global on ClearTax to simplify and file your ITR within minutes, ensuring accuracy and convenience.

SMC Profit and Loss (P&L) Statement

The Profit and Loss (P&L) statement is an important document for filing income tax returns as it reports all your capital gains for a financial year. Your income from selling stocks, mutual fund units, bonds, etc., and dividends earned falls under capital gains. 

As per the Income Tax Act, capital gains are taxable; thus, one must report all capital asset transaction details while filing ITRs. 

Profit and loss statements can also be insightful for investors when assessing their financial performance. They contain information like total investment, transaction dates, profit and loss from transactions, classification of the profits into short-term and long-term capital gains, etc. 

By analysing this statement, investors can assess how certain transactions affect their overall financial status and whether they are in line with their investment objective. Furthermore, with the help of this data, investors can calculate their returns and determine the success of their investment strategy. 

Like any other reputed brokerage platform, SMC Global allows its users to download P&L statements for a specific period. 

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

To download and check profit and loss statements from SMC Global, follow the steps given below:

Step 1: Visit the SMC Global official website and enter your login credentials and two-factor authentication password.  

Step 2: Click the ‘My Account’ tab and select the  ‘P&L - Eq.’ option under the Backoffice section. 

Step 3: Choose the ‘Starting Date’ and ‘Ending Date’. In the ‘Type of Report’ section, select ‘Details’ and download the report by clicking the Excel icon. 

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

With Cleartax, you can upload your profit and loss statement for ITR filing by following the steps below: 

Step 1: Sign up on the Cleartax portal and navigate to the ‘Income Sources’ section. Then, under ‘Capital From Stocks, Mutual Funds, FnO & Others’, click ‘Add Details’.

Step 2: A list of brokerage platforms will appear on the screen. From there, click the ‘SMC Global’ icon. 

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

Step 4: Cleartax will then analyse your report and automatically fill in all your details relating to capital gains for ITR filing.

Alternatively, you can upload the SMC Global 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 From Stocks, Mutual Funds, FnO & Others’ 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. 

Thanks to SMC Global’s customer-centric approach, downloading profit and loss statements for the purpose of filing an ITR has never been easier. Cleartax’s automatic filing system also makes reporting your capital gains data for your Income Tax return fast and hassle-free. 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.