How to File Capital Gains on ClearTax?

When you sell capital assets, the gains or profits arising from them are known as capital gains. Listed below are the different types of capital assets:

• Stocks 
• Mutual Funds
• US stocks
• Bond and Debentures
• Restricted Stock Units (RSUs)
• Land or Property

When you have capital gains from the sale of the above-mentioned capital assets, you must pay capital gains tax on the profit. The capital gains tax calculation will differ based on the type of asset, how long you had the asset (holding period) and the applicable tax rates. To know more about capital gains and capital gains tax, click the following link - https://cleartax.in/s/capital-gains-income 

Calculating your capital gains tax can be overwhelming and confusing. However, when you file taxes with ClearTax, your capital gains will be calculated within seconds. Let’s look at how ClearTax makes your filing easy and quick when you have capital gains from different capital assets.

How to File Taxes When You Have Stocks and Mutual Funds Income?

Uploading your capital gains statement is effortless with the ClearTax one-click import feature. With the one-click import feature, you can upload or import 1000s of capital gains transactions from 25+ stock brokers and mutual fund brokers within seconds on the ClearTax platform. Your long-term and short-term capital gains will be auto-filled, and capital gains tax will be auto-calculated on our platform.

You can directly import your stocks and mutual fund P&L statement on ClearTax if you have stocks and mutual fund investments with the following brokers:

Here are the steps to directly import your P&L statement on ClearTax:

Step 1: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 2: Enter your PAN to link it and pre-fill your details.

Step 3: Head over to the ‘Income Sources’ tab.

Step 4: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 5: You can import your profit and loss data directly from your broker. From the list of brokers, select your broker.

Step 6: Click on the ‘Login & Import’ button.

Step 7: Enter your credentials to log in to your broker account. 

Your P&L statement will be automatically downloaded, the capital gains will be auto-filled, and the capital gains tax will be auto-calculated. Click on ‘Go to next’, enter the other relevant details and complete your ITR filing.

You need to download and upload your stocks and mutual funds P&L statement on ClearTax if you have stocks and mutual funds investments with the following brokers:

Here are the steps to upload your P&L statement on ClearTax:

Step 1: Log in to your broker account and download the P&L statement. 

Step 2: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 3: Enter your PAN to link it and pre-fill your details.

Step 4: Head over to the ‘Income Sources’ tab.

Step 5: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 6: Select your broker from the list of brokers and click on the ‘Browse Files’ button.

Step 7: Upload the P&L statement downloaded from the broker website. 

Your capital gains data will be imported and auto-filled, and the capital gains tax will be auto-calculated. Click on ‘Go to next’, enter the other relevant details and complete your ITR filing.

If you are unable to find your broker on ClearTax, you can still file your capital gains taxes easily by following the below steps:

Step 1: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 2: Enter your PAN to link it and pre-fill your details.

Step 3: Head over to the ‘Income Sources’ tab.

Step 4: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 5: The broker list will be displayed on the next page. In case your broker is not listed, you can add your P&L statement in two ways:

1. Use ClearTax template
2. Add details manually

Step 6 (a): Click on ‘Use ClearTax template’ and click on the ‘Download Template’ button. The template will be downloaded in Excel format. Fill in all the details of the sale of shares or mutual funds and save the file. Next, go back to ClearTax and upload the template by clicking on the ‘Browse File’ option. After uploading the file, your capital gains will be auto-calculated and filled in the respective field.

Step 6 (b): Click on ‘Add details’ under the ‘Add details manually’ section. Select the ‘Stocks’ or ‘Mutual Funds’ option, choose the type of asset, enter the date of sale and purchase and all other asset details, and click ‘Save’. Your capital gains will be auto-calculated and filled in the respective field.

How to File Taxes When You Have US Stock Investments?

When you have gains from the sale of shares listed on foreign exchanges, US stocks or any other foreign assets, follow these steps to enter your capital gains:

Step 1: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 2: Enter your PAN to link it and pre-fill your details.

Step 3: Head over to the ‘Income Sources’ tab.

Step 4: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 5: Scroll down and click on the ‘Foreign Assets - US Stocks’ heading.

Step 6: Here, you have three options through which you can enter your capital gains details.

Step 7 (a): If you have invested and sold in US stock through the ‘IND Money’ broker, follow the below process:

• Log in to your IND Money account and download your P&L statement.
• Go back to ClearTax, select ‘IND Money’ broker, click ‘Browse Files’ and upload the downloaded P&L statement.

• Your capital gains will be auto-calculated and auto-filled.

If you have invested and sold in US stock through the ‘Vested’ or ‘Groww’ brokers, follow the below process:

• Select ‘Vested’ or ‘Groww’ and click on the ‘Login and Import’ button. 

• Log into the Vested or Groww platform, and your capital gains statement will be automatically downloaded.
• Your capital gains will be auto-calculated and auto-filled.

Step 7 (b): If you have invested in US stock from any other broker other than ‘IND Money’, ‘Vested’ or ‘Groww’, you can click on the ‘Use Standard File and Upload US Stocks’ option under the ‘Use Custom Template’ heading. 

Next, click on the ‘Download Template’. The template will be downloaded. Enter the details on the template and click ‘Save’. Go back to ClearTax and upload the template by clicking the ‘Browse Files’ button. Your capital gains will be auto-calculated and auto-filled.

Step 7 (c): If you have invested in US stock from any other broker other than ‘IND Money’, ‘Vested’ or ‘Groww’, you also have the option to enter details manually by clicking on ‘Add Foreign Gains Manually’. Select the type of asset, enter the date of sale and purchase and all other asset details, and click ‘Save’. Your capital gains will be auto-calculated and auto-filled.

How to File Taxes When You Have Gains from ESOPs and RSUs?

When you have gains from the sale of vested Restricted Stock Units (RSUs) and exercised Stock Options or ESOPs, follow these steps to enter their details in your ITR:

Step 1: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 2: Enter your PAN to link it and pre-fill your details.

Step 3: Head over to the ‘Income Sources’ tab.

Step 4: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 5: Scroll down and click on the ‘Add Entry’ under the ‘Stock Options & RSUs’ heading.

Step 6: Select the type of stock option or RSUs, enter the date of sale and exercise and click ‘Next’. 

Step 7: Add transaction details, such as description of the asset sold, total sale price, transfer expenses, and value as on the exercise date and click ‘Save’. The capital gains will be added automatically.

How to File Taxes When You Have Bonds and Debentures?

When you have gains or losses from bonds and debentures, including government, corporate and tax-free bonds, follow these steps to enter your capital gains:

Step 1: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 2: Enter your PAN to link it and pre-fill your details.

Step 3: Head over to the ‘Income Sources’ tab.

Step 4: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 5: Scroll down and click on the ‘Bonds and Debentures’ heading.

Step 6: Here, you have two options through which you can enter your capital gains details.

Step 7 (a): If you have bonds and debentures on ‘WintWealth’ broker, follow the below process:

• Log in to your WintWealth account and download your P&L statement.
• Go back to ClearTax, select ‘WintWealth’ broker, click ‘Browse Files’ and upload the downloaded P&L statement.
• Your capital gains will be auto-calculated and auto-filled.

Step 7 (b): If you have bonds and debentures with any other broker other than ‘WintWealth’, you can enter details manually by clicking on ‘Add details’ under the ‘Add details manually’ heading. Select the type of bond, enter the date of sale and purchase and all other asset details, and click ‘Save’. Your capital gains will be auto-calculated and auto-filled.

How to File Taxes When You Income from the Sale of Land or Property?

When you have profit from the sale of land or property, follow the below steps to enter your capital gains details:

Step 1: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 2: Enter your PAN to link it and pre-fill your details.

Step 3: Head over to the ‘Income Sources’ tab.

Step 4: Click on ‘Add Details’ under the ‘Capital Gain Income’ heading.

Step 5: Scroll down and click on ‘Add Entry’ under the ‘Sale of Land or Building’ heading.

Step 6: Enter the date of sale and purchase and click ‘Next’.

Step 7: Enter the details of the property, such as the description of the asset, total sale price, total purchase price, transfer expenses, property value on which stamp duty paid, improvement details (if any), property address, and buyer details, and click ‘Save’. You can even enter the details of multiple buyers along with the percentage shareholding, amount and Aadhaar details by clicking on the ‘Add more buyers’ option.

Step 8: Your capital gains details will be auto-calculated and auto-filled.

How to File Taxes When You Have Crypto Income?

If you are a crypto trader or investor and have crypto income from trading, mining, staking, minting, gifts, NFTs or other VDA assets, follow the below steps to calculate tax liability from crypto:

Step 1: Log in to your Crypto trading platform and download the transaction history.

Step 2: Log in to ClearTax and click on the ‘Start for Free’ button.

Step 3: Enter your PAN to link it and pre-fill your details.

Step 4: Head over to the ‘Income Sources’ tab.

Step 5: Scroll down and click on ‘Add Details’ under the ‘Crypto Income (Virtual Digital Assets - VDA)’ heading.

Step 5: Select your Crypto platform from the list of Crypto platforms and enter the nickname of your choice.

Step 6: Click on the ‘File Upload’ and upload your files for each transaction year.

Step 7: Your tax liability from Crypto or VDA earnings will be auto-calculated.

Filing ITR when you have capital gains is no more cumbersome, thanks to the ClearTax Platform. On Cleartax, you can easily enter a few details regarding the sale of your capital assets or upload the P&L statement, and the capital gains will be calculated and filled out within seconds. 

Additionally, if you have any doubts while entering your capital gains data, you have guides to help you fill in the data without any hassles. Our AI Assistance will also be with you throughout your filing journey to help you enter the required information. You can also hire our expert where our dedicated expert will help with your capital gains income and ITR filing.