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

Understanding the significance of the profit and loss statement and its requirements while filing ITR is crucial for every investor. However, downloading a P&L statement via Sharekhan can be unclear to some.

Hence, this article will provide a comprehensive guide on downloading the profit and loss statement via Sharekhan and the steps to upload it for ITR filing.

Sharekhan Profit and Loss (P&L) Statement

A profit and loss statement, also known as a capital gains statement, is a comprehensive financial record that offers a brief account of all stock market transactions. The transaction details involve shares, bonds, mutual fund units, and profits earned, including dividends paid, over a certain period.

Sharekhan, like other reputable brokerage businesses, allows its valued clients to easily access profit and loss statements for a specific fiscal year. Because capital gains are taxed under the Income Tax Act, it is significant to calculate the value for ITR filing. Furthermore, this practice allows individuals to effectively track their total earnings or losses throughout the fiscal year.

Numerous crucial facts, such as transaction dates, accurate quantification of profits or losses arising from transactions, and a full breakdown of capital gains categorisation, including short-term and long-term capital gains, are found in these statements. 

Investors obtain useful insights into their financial endeavours and determine the influence of certain transactions on their overall financial status by evaluating these specific factors.

How to Check and Download Profit and Loss Statements in Sharekhan?

Follow the below steps to check and download your profit and loss statement on Sharekhan:

1. Log in to your Sharekhan Demat Account by entering your credentials. 
2.  Select the 'Portfolio' option from the top and choose 'Detailed View'. Click on the ‘More Reports’ option and choose the ‘Capital Gain’ option from the dropdown list.
3. Select the ‘Capital Gain’ option on the top and select the financial year as ‘2022-2023’. Click on the Excel icon under the ‘Download Reports’ heading to download your profit and loss statement.

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

Below are the steps you can follow to upload the Sharekhan profit and loss statement to file your ITR: 

1.  Sign up on the Cleartax portal and navigate to the ‘Income Sources’ section. Then, under ‘Capital Gain Income’, click ‘Add Details’.
2. A list of brokers will appear on your screen. Here you have to click on the ‘Sharekhan’ icon.
3.  Now, upload the Sharekhan P&L statement by clicking on ‘Browse Files’. Cleartax will scan this document and import the necessary information.
4. Cleartax will read and analyse the Sharekhan P&L statement and fill up the ITR details automatically. 

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

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