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

Operational since 2006, SBI Securities is the brokerage division of the State Bank Group. It provides many services like retail and institutional equity, DP services, derivatives, online trading, etc. The company’s clientele mainly includes domestic retail investors, corporates, HNIs, NRIs, Foreign Institutional Investors, asset management companies and other financial institutions. 

Headquartered in Mumbai, SBI Securities aims to be the ‘investment partner of choice’ for every Indian investor. The organisation’s website also hosts a range of unique features which can help investors monitor their financial data. Users can easily download their profit and loss statements to assess their performance and use them for filing ITRs. 

Despite the website's interactive user interface, some investors may face difficulty downloading their P&L statements. This article contains a step-by-step guide to help them do the same. 

SBI Securities Profit and Loss (P&L) Statement

On the SBI Securities website, users can download their Profit and Loss (P&L) statements for the current and past financial years. The statement provides a detailed overview of stocks, funds and investments along with key metrics like total investment amount, dividends received, realised gains and losses, etc. 

Such details help investors understand their portfolios' financial performance and their investment strategies' effectiveness. Doing so also helps them understand whether they need to change their current tactics to increase profits. 

Profit and loss statements also come in handy when filing income tax returns. This is because profits realised from selling assets like stocks, bonds, debentures, mutual fund units, etc., fall under capital gains. Depending on the holding period, they can be classified as short-term or long-term capital gains, which would be taxed accordingly.  

Thus, it is the responsibility of every taxpayer to upload their P&L statements while filing their ITRs.  

How to Check and Download P&L Statement from SBI Securities?

To download your capital gains statement from the SBI securities platform, follow the steps given below:

Step 1: Visit the official SBI Securities website and enter your login credentials. 

Step 2: Tap on ‘Historical Reports’ and click the ‘Profit and Loss’ option.

Step 3: Set the ‘Select Financial Year’ as ‘2022-2023’ and select ‘Equity’ as the ‘Asset Type’. Choose ‘Charges’ as ‘With Charges’, select ‘Detail’ and click on ‘Submit’. When the system generates the reports, click on the ‘Excel’ icon to download the report. 

Note – You need to download the P&L report separately for each asset type. For example, if you have invested in ‘Future and Options’ and ‘Equity’, you should first download the report for one asset and then repeat the process for another.  

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

After successfully downloading your P&L statement from SBI Securities, follow the steps mentioned below to upload the statement and file your ITR:

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 the screen. Click on the ‘SBI CAPS’ icon. 

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 SBI 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. 

Following the above-mentioned steps, you can download your profit and loss statement from SBI Securities and upload it on Cleartax within minutes. Moreover, Cleartax’s automatic data reporting system ensures that there are no manual errors while updating your ITR details. 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.

Frequently Asked Questions

Which ITR form applies to SBI Securities’ users? 

If you have capital gains income or loss, then only ITR-2 and ITR-3 can be used. If you trade in equity shares and mutual funds, such income will be treated as ‘Capital gains’, and you must use ITR-2. However, if you have income from intraday trading or F&O, it will be treated as ‘Business Income’. So you will need to file your return using ITR-3. 

You don’t need to worry about these forms while filing the return on Cleartax, as it picks up the correct ITR form based on your income details.

How to file taxes if I have multiple trading accounts from different brokers?

Cleartax has partnered with various brokers like 5Paisa, Paytm Money, Groww, Sharekhan, CAMS, Karvy, ICICI direct, Zerodha, Upstox, etc. You can upload the profit and loss statement obtained from these brokers on the Cleartax platform, and it will parse it and auto-prepare the return.

How to set off losses when I file ITR through Cleartax?

You can add the details of the brought forward losses and depreciation on the Cleartax platform. The previous year’s loss is automatically adjusted with the current year’s income as per the Income Tax rules.

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