How to Download the Choice Capital Gains Statement?

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.

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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.

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Key Changes introduced in ITR forms for (AY) 2025–26

• Inclusion of Long-Term Capital Gains (LTCG) in ITR-1 and ITR-4
  Previously, taxpayers with any LTCG were required to file more complex forms like ITR-2 or ITR-3. Now, individuals with LTCG up to ₹1.25 lakh from listed equity shares or equity mutual funds under Section 112A can file using the simpler ITR-1 (Sahaj) or ITR-4 (Sugam) forms, provided there are no carried forward losses.
• Segregation of Capital Gains Based on Transaction Date
  The updated ITR forms now require taxpayers to report capital gains separately for transactions executed before and after July 23, 2024. This change aligns with the revised capital gains tax rules introduced in the Union Budget 2024, which, among other things, reduced the LTCG tax on real estate to 12.5% without indexation from the previous 20% with indexation.
• Reporting of Buyback Proceeds as Deemed Dividends
  From October 1, 2024, proceeds received from the buyback of shares by domestic listed companies are to be treated as deemed dividends. The updated ITR forms require these proceeds to be reported under 'Income from Other Sources.' Additionally, the capital gains schedule should reflect zero sale proceeds, allowing the cost of acquisition to be claimed as a capital loss, which can be carried forward for up to eight assessment years.
• Enhanced Capital Gains Reporting in ITR-7
  For trusts, NGOs, and other institutions filing ITR-7, there is now a requirement to disclose capital gains separately for transactions before and after July 23, 2024. This change ensures accurate tax calculations in light of the revised capital gains tax rules.
• Increased Threshold for Asset and Liability Reporting
  In the ITR-2 form, the threshold for mandatory reporting of assets and liabilities has been raised to ₹1 crore. This adjustment aims to reduce the compliance burden for taxpayers with assets below this threshold.

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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, login/signup to the account and click on File ITR Now
  
• Step 2. Now select ‘capital gains’ as your source of income and click on continue.
  
  
• Step 3. Now, scroll to the ‘Capital Gains Income ’tab. Enter your capital gains/losses details by adding via tab “ Equity, Mutual Funds, Intraday, F&O and More”.
  
  
• Step 4. Upload your capital gain report by selecting, “Choice”.
  
  
• Step 5. From the pop-up window, click on browse files and upload the P&L statement.
  
  

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

• Step 1. 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.
  
  
• Or, you can “Add Data Manually” for the cases where, Tax P&L report not available, broker isn’t listed or not supported.
  
  

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!

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