When an investment (e.g. Stocks, Bonds, Mutual Funds, Real estate) is sold, the profit or loss on such sale is Capital Gains. In such a situation, capital gains are taxable in the financial year in which the trader sells the capital asset. Therefore, in order to assess the tax liability and file the tax returns correctly, the taxpayer needs to know about their earnings from the capital gains during the financial year. If you are investing in Mutual Funds in a non-Demat form there are multiple ways to get your data of Capital Gains for the financial year. In this case, we will discuss the method to get the consolidated capital gains report from KARVY. Investors investing via more than two platforms and/or investing offline as well can make use of the consolidated Capital Gains statement mail-back service provided by RTAs like CAMS and KARVY.
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Steps to Download Consolidated Capital Gains Statement from KARVY
- KARVY Online
Visit the KARVY investor mail-back service for the capital gains website.
- After KARVY Login
After logging in, scroll down and click on the Investor Service tab.
- Capital Gain Mail Option
Moreover, click on the capital gain by mail option.
- Enter the required details
Enter the e-mail ID registered in your investment folios.
Password – This is the password for opening the attachment. You can set it to anything you want.
Choose 1st April 2021 from the date picker and for To Date chooses 31st March 2022 to get the CG Statement for the previous Financial Year.
Once the form is filled, click on the option to submit. You will instantly receive the statement in your mail.
Sample KARVY – Capital Gains Statement
FAQs
Yes, once you register with your PAN, all your existing investments done through Karvy will be visible on this platform. However, you will not be able to edit/redeem the offline investments through this account.
No, you can invest only in regular plans of mutual funds through this online investment account.
No, this is a one time process. This process is linked to bank account.
Hi @Jitendra_Kumar,
You should calculate your advance tax liability for the financial year. If your income tax liability is above INR 10,000, you need to pay your advance tax. 15th March 2021 is the last date to pay your advance tax for the FY 2020-21.
Since you have Capital Gains income, you need to file ITR 2. The sue date for the same is 31st July 2021.
You can also use this tool to determine, which ITR form to file.
Thank you for the reply
I have 1 more doubt :
When calculating capital gains can i subtract brokerage or Exchange Transaction Charges or anything else that will reduce capital gains tax?
@Jitendra_Kumar,
You cannot claim brokerage expenses or other such charges from your capital gains. But, you can still claim transfer expenses such as stamp duty from your capital gains.
However, if you do intraday or F&O trading which is treated as business income for Income Tax purposes, you can claim the following expenses.
Hi @Aditya_s ,
CAMS will include only the folios with financial transactions. If in case any of your folios missing in the myCAMS login, please ensure that your email id is updated in all your Mutual Fund investments serviced by CAMS.
@Aakash_L can you help with this?
Hey @Abhijit_G ,
Could you send us your Karvy statement for FY20-21 at help@quicko.com so we can look at the upload issue?
Hey @Javed19, we are working on the same and will be released in the coming week. Stay tuned!
Hey @Abdul_Raquib, you can check out the response to your query at - Importing Trading Data from CAMS - #2 by Abdul_Raquib
@hiren_parekh
LTCG upto 1 lakh is exempt from tax. Still you can sell and buy on the same day without waiting for the next day.
Hope this helps!
I saw in Quicko an option wherein a Zerodha user can login via Kite and his TaxPnL is auto-populated by the click of a button and his annual STCG and LTCGs are calculated from his trades on Zerodha trading platform.
I was wondering whether the transactions done in Coin by Zerodha would also be tracked and its Gains/Losses would be also considered for annual STCG and LTCG during filing of returns?
Is there a feature like that in Quicko presently?