How to get a capital gains statement for mutual fund investments for ITR filing

The due date for filing Income Tax Return (ITR) for Assessment Year 2023-24 is July 31, 2023, and those taxpayers, who don’t require tax audit, should keep all their documents ready in advance.  The taxpayers need to report all their income for ITR filing including the gains from mutual fund investments.

Capital gains are the profits you earn when you sell your mutual fund investments. If you have investments in equity mutual funds, it's crucial to keep track of these gains to accurately calculate your tax liabilities. These gains can either be short-term or long-term, based on the duration of your investment, and they are taxed differently.

If you're looking to obtain your capital gains statement, here's how you can do it:

Online investment platforms

Online investment platforms have made it easy for investors to access their capital gains statements. Many online investment platforms offer user-friendly procedures for generating these statements. To get your capital gains statement through these websites and apps, you just have to follow some simple steps, which usually involve accessing your account and requesting the statement. The platform then generates the statement which you can download for your reference.

Registrar and transfer agents (RTAs)

Another way to get your capital gains statement is through Registrar and Transfer Agents such as CAMS and KFintech. These agencies provide capital gains reports separately for the different Asset Management Companies (AMCs) they serve.

To get these reports follow these steps:

For CAMS: Visit the CAMS website and select the 'Statement of Financial Transactions' option. You'll be required to fill in some details and submit the form, after which you'll receive your report via email.

For KFintech: KFintech also offers a similar service. Visit their website and follow the self-explanatory fields and password requirements to get your capital gains statement.

It's important to note that as of now, these agencies do not offer a consolidated report for all your investments. So, before filing your tax returns, it's advisable to cross-check the numbers with the RTA reports. You can generate capital gains statements separately for each mutual fund investment.

AMC websites

You can also get your capital gains statement directly from the websites of the Asset Management Companies (AMCs). Most AMCs offer this facility on their online portals. You just need to log in using your folio number and other necessary details, following which you can download the statement.

Remember that the capital gains statement only displays the profits you've made and it does not show the corresponding tax. Hence, before calculating your tax liability, you should consider other capital gains and potential set-offs.

Lastly, remember that taxes on mutual fund investments depend on the type of fund (equity or debt) and how long you've held the investment. To fully understand the tax implications of your investments, it's always advisable to consult with a tax advisor.