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  7. How to File ITR for Choice? - Download the Choice Capital Gains Statement

How to Download the Choice Capital Gains Statement?

Updated on: 08 Aug, 2024 12:23 PM

Choice Group, incorporated in 1992, is a financial institution dedicated to solving financial problems and bridging gaps for individuals, institutions, and governments. For the past 31 years, we have been committed to helping our clients achieve their financial aspirations and promoting value creation for society.

The main aim of this portal is to make investment opportunities accessible to all. However, keeping track of every transaction can be daunting for customers. Therefore, the platform provides its customers with a capital gains statement, a comprehensive record of all transactions made by the customer within a financial year. In this guide, we will help you understand what a capital gains P&L statement is and how to download it from the Choice portal.

Contents

What is Choice Capital Gains Statement?

If you trade with Choice, you must download a capital gains statement. This document provides a detailed record of your investments on the Choice platform, showing your overall profit or loss for the year. It comprehensively tracks your investments, capital gains, and returns over a specific period. Capital gains are the profits from selling assets. Capital gains can be both short-term and long-term, depending on how long you hold the assets.

When investing with Choice, you must submit your P&L statement when filing your income tax return (ITR). In the below section we provide you with a step-by-step guide to help you download Choice capital gains statement.

How to Download Choice Capital Gains Statement?

Given below are the simple steps that you need to follow to download the Capital Gains Statement from Choice Broking’s website -

  • Step 1. Visit the official website of Choice Broking. Login to your choice portal by entering your login credentials.
  • Step 2. On the Dashboard, navigate to the ‘Reports Menu’ and click on it.
  • Step 3. Under the ‘reports menu,’ find the Tax P&L statement option and click on it.
  • Step 4. Now, select the relevant financial year for which you want to download the capital gains statement. For example, if you are downloading your capital gains statement for FY 23-24, you need to select FY 2023-24.
  • Step 5. Now, select Futures > Options > Commodity > Currency.
  • Step 6. You can now download the report in Excel format.

How to Upload Choice P&L Statement on Tax2win?

After downloading the capital gains statement from the Choice website, follow these steps to upload it on the Tax2win’s website.

  • Step 1. Visit the Tax2win page, and select File your return.
  • Step 2. Now select ‘capital gains’ as your source of income and click on continue.
    capital gains
  • Step 3. Now, navigate to the ‘Capital Gains’ section. Click on ‘Choice’.
    capital gains
  • Step 4. From the pop-up window, click on browse files and upload the P&L statement.
    click on browse files

Alternatively, you can also upload Choice P&L using the Tax2win template.

  • Step 1. Click on the Tax2win Template.
    Click on the Tax2win Template
  • Step 2.
    Click the 'Download Tax2win Template' button in the first step to download the template. Fill in your capital gain investment details as instructed in the template. Then, upload the completed template by clicking the 'Browse Files' button. Tax2win will read your transactions and calculate your capital gains details within minutes.
    Download Tax2win Template

Follow these steps to download your Choice P&L statement quickly and upload it on Tax2win. Remember, it is mandatory to furnish your capital gains statement while filing your ITR. So, if you are planning to file your ITR for FY 23-24, make sure you have your capital gains statement ready for filing your Income Tax Return (ITR) for FY 23-24.

Filing your Income Tax Return with Tax2win is extremely easy. Simply upload your Choice Broking Capital Gains statement to complete your ITR hassle-free in less than 4 minutes. Start now!

Frequently Asked Questions

Q- Where can I get a capital gain statement?

Steps to Download Your Capital Gains Report for Mutual Funds:

  1. Visit the Official Website: Go to the official website of the respective mutual fund company.
  2. Log In: Use the credentials you provided to log in to your account.
  3. Download the Report: Once logged in, navigate to the section for capital gains reports and download the report for your mutual funds.

Q- What are capital gains details?

Capital gains are the profits made from selling investments like stocks, bonds, or real estate. Capital gains taxes are typically lower than ordinary income taxes, offering tax advantages to investors compared to wage workers. Additionally, capital losses can sometimes be deducted from your total tax bill.

Q- What is the capital gain income statement?

A capital gain is the profit made from selling an asset for more than its purchase price. Capital gains usually come from selling stocks, bonds, real estate, or intangible assets like goodwill. Conversely, a capital loss occurs when an asset is sold for less than its purchase price. A capital gain income statement is a financial document consisting of the details of the profit as well as loss from the sale of assets.

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CA Abhishek Soni
CA Abhishek Soni

Abhishek Soni is a Chartered Accountant by profession & entrepreneur by passion. He is the co-founder & CEO of Tax2Win.in. Tax2win is amongst the top 25 emerging startups of Asia and authorized ERI by the Income Tax Department. In the past, he worked in EY and comes with wide industry experience from telecom, retail to manufacturing to entertainment where he has handled various national and international assignments.