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

Upstox is a financial service company offering online brokerage services at a competitive rate. Upstox was founded with a vision to make investment convenient and readily accessible to all Indians. The easy-to-use interface of Upstox and its cutting-edge technology disrupted the digital brokerage space of the country.

Capital gain is one of the major forms of income for investors and traders. Capital gains results from the difference between the selling price and purchase price of an asset. This income can be categorised as Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG), based on the holding period of one’s investments.

Upstox allows its customers to generate and download consolidated reports, also known as Profit and Loss (P&L) or capital gains statements, which comprises all transaction details of financial securities and their gains or losses. The Upstox P&L statement is mandatory for filing your Income Tax Return (ITR). While you have the option of entering the details of capital gains manually, it can be quite hectic while filing ITR. 

But you can directly upload your Upstox P&L statement on Cleartax in just a few seconds and file your ITR within minutes. Here are the 3 ways through which you can upload your Upstox P&L statement on Cleartax.

1. Directly uploading Upstox Money P&L statement on Cleartax

Follow the steps below to directly upload your Upstox Money P&L statement:

Step 1: Log in or sign up on the Cleartax portal and click the ‘File Now’ button.

Step 2: Complete your OTP verification and navigate to the ‘Income Sources’ section. Click on the ‘Add Details’ button under the ‘Capital Gain Income’ heading.

Step 3: A new page will appear on your screen, where you can import your profit and loss data directly from your broker. From the list of brokers, select ‘Upstox’.

Step 4: Click on the ‘Login & Import’ button.

Step 5: Login to your Upstox account by entering your mobile number. Your capital gains statement will be uploaded in seconds.

2. Downloading the Upstox P&L statement and uploading it on Cleartax

Follow the steps below to download your Upstox P&L statement from the Upstox website and upload it on Cleartax:

Step 1: Login to your Upstox account using your mobile number and PIN.

Step 2: On the homepage, click the ‘My Account’ option in the top-right corner and from the dropdown list, click on ‘Reports & Corporate Actions’.

Step 3: From the list of reports, click on the ‘Profit & Loss’ option.

Step 4: A profit and loss page will appear. Click on the ‘Tax’ tab and select the financial year as ‘2022-23’ from the drop-down list. Click on the ‘Download report’ button to download the P&L statement.

Step 5: 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 6: From the list of brokers, select ‘Upstox’.

Step 7: Click on the ‘Browse Files’ button.

Step 8: Upload the reports you have downloaded from Upstox’s website. Cleartax will read the information and import the data for ITR filing within seconds. 

3. Uploading Upstox P&L statement using Cleartax template

When you cannot upload the Upstox P&L statement as per the above two ways, there is an alternative way to upload it using the Cleartax template. Here are the steps to upload your Upstox P&L statement using the Cleartax template:

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. 

By following the above simple steps, you can upload your Upstox P&L statement within minutes. You can enter this information manually; however, this might be quite time-consuming and lead to errors. To avoid such instances and hectic procedures, Cleartax allows you to upload the Upstox P&L Statement directly. Plus, 1000s of transactions are processed in seconds, and complex taxes are calculated in a minute. 

File your ITR now with Cleartax and take taxes off your mind.