ITR Filing Simplified for HDFC Securities Users: How to Upload Capital Gains Details

HDFC Securities is a subsidiary of HDFC Bank and one of India's most popular and leading stock broking firms. They offer a seamless trading experience to investors by prioritising their investment goals.

One can trade on multiple platforms of HDFC Securities, including their online site, offices or by telephone. The brokerage firm caters to investors' needs and offers various strategies and recommendations that fit individual goals. On its platform, you can invest in stocks, derivatives, mutual funds, bonds, insurance, NCDs, etc.

You can get an insight into your investments, returns and losses via a Profit and Loss (P&L) statement. This report helps you track your returns and strategise future investments. You also need this report while filing Income Tax Returns (ITR).

This blog will take you through the steps to download your HDFC P&L statement and upload it on the Cleartax portal.

HDFC Securities profit and loss statement

A profit and loss statement or report is important for every individual and business to keep track of their investments. This consolidated report summarises all investments, earnings and losses a person has made over a specific period. 

When an individual earns from the sale of their capital assets, the earnings are referred to as capital gains. These assets can be real estate, stocks, bonds, mutual funds, etc. The purchase price, holding period and selling price determine the profits one makes from investment in these assets.

A P&L statement helps you know your current financial standing and plan an investment strategy. You can analyse and compare your investments for different periods if you have invested in stocks or mutual funds via HDFC Securities. This lets you know how your securities perform in the present market and where to invest next. 

Furthermore, a P&L report is also necessary while filing ITR. Keeping this report handy will help you enter the data correctly. However, manually filing ITR can be quite time-consuming. You can easily upload this document to Cleartax’s portal while filing tax returns to save time.

How to check and download the profit and loss statement in HDFC Securities?

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

Step 1: Visit the HDFC Securities portal and sign in using your credentials.

Step 2: Locate ‘Portfolio’ from the toolbar and click the ‘Capital Gains’ option. 

Step 3: A new page will open; here, select the financial year as ‘2022-2023’, the period as ‘Annual’, the asset type as ‘Equity’, and ‘Detail’ and click on ‘Submit’.

Step 4:  A list will appear on your screen on a table. Click on the ‘Export Excel’ format icon on the top-right corner of the page to download the file.

How to upload the P&L statement from HDFC Securities and file ITR on Cleartax?

Follow these steps to upload your HDFC Securities P&L report on Cleartax and file your income tax returns:

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: You will see a list of brokers on the new page. Click on ‘HDFC Securities’ icon. 

Step 3: Click ‘Browse Files’ to upload your P&L Statement that you downloaded from HDFC Securities. Cleartax will read and import the data, making filing ITR easy. 

Alternatively, you can upload the HDFC 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. 

Manually entering your investment details can be time-consuming and leave room for errors if you are not careful. This can result in inaccuracies in your tax filing, which can cause a lot of trouble. The above steps will allow you to easily download a P&L statement from HDFC Securities and file ITR easily by eliminating the long manual process. 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 HDFC Securities’ users? 

ITR form should be chosen based on the various income sources you earn money from. If you trade in equity shares and mutual funds, such income falls under ‘income from capital gains’, and you can file ITR-2. However, if you are into intraday trading or F&O, you should report it under the head ‘Income from Business and Profession’ and file ITR-3. You need not worry about choosing the right ITR form while filing returns on Cleartax. It is automatically selected for you as per your financial 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, CAMS, Karvy, Sharekhan, ICICI direct, Zerodha, Upstox, etc. You can upload the capital gains statement obtained from all these brokers, and the Cleartax platform will parse it and auto-prepare the return.

How does tax-loss harvesting work when I file through ClearTax?

You can add the details of the previous year’s losses/depreciation on Cleartax. Then previous year’s loss (brought forward loss) is automatically adjusted with the current year’s income if eligible for set off as per the Income Tax rules.

Can I also add my other incomes while filing through Cleartax?

While filing ITR through Cleartax, you can add income from salary, rental income, business and profession income, profits from intraday trading, gains from equity and debt mutual funds, interest income, dividends, lottery winnings, commissions, etc.
 

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