Taxation capital gains statement tax filing

Capital gains statement for mutual funds

From WebNotes, a public knowledge base. Last updated . Reading time ~6 min.

A mutual fund capital gains statement is the AMC/RTA-issued report listing realized capital gains for a specified financial year, with long-term and short-term gains classified per Section 112A and Section 111A . The statement is the foundational tax-filing document for mutual fund investors preparing their ITR-2 or ITR-3.

For Indian retail investors, downloading and using the capital gains statement correctly during tax filing season is critical to ensure:

  • All redemption-event gains are reported.
  • Correct LTCG/STCG classification.
  • Correct application of the Rs 1.25 lakh annual LTCG exemption (post July 2024).
  • Reconciliation with Annual Information Statement (AIS) data.

Statement structure

A typical capital gains statement includes:

  • Investor identification: PAN, name.
  • Financial year: The FY for which gains are computed.
  • Per-redemption details:
    • Scheme name and folio number.
    • Sale date and sale value.
    • Cost basis (purchase NAV × units, per FIFO).
    • Holding period.
    • Classification: LTCG (>12 months) or STCG (≤12 months).
    • Capital gain amount.
  • Aggregate summary:
    • Total LTCG.
    • Total STCG.
    • LTCG above Rs 1.25 lakh exemption (taxable amount).

How to download

Via CAMS / KFin portals

  • CAMS Online : “Mailback Services” → “Capital Gains Statement” → specify FY → email statement.
  • KFinKart : Similar feature under “Reports”.

Via direct-plan platforms

Via MF Central

MF Central provides consolidated capital gains statements across all AMCs.

Tax filing use

ITR-2 schedule CG

The capital gains data flows into:

  • Schedule CG: Capital Gains section of ITR-2.
  • Section 112A details: LTCG on equity MFs.
  • Section 111A details: STCG on equity MFs (if applicable).
  • Debt MF gains: Treated per post-2023 framework (slab rate).

AIS reconciliation

The mutual fund capital gains statement should reconcile with the Annual Information Statement (AIS) data:

  • AIS captures the income-tax-department’s view of mutual fund transactions.
  • AMC’s capital gains statement provides the investor’s view.
  • Discrepancies require investigation before ITR filing.

Common issues

Mismatch between CAMS and KFin

If investor has folios at both CAMS and KFin AMCs, two separate statements need aggregation for ITR.

Pre-April 2023 debt purchases

Pre-2023 debt MF purchases continue under pre-2023 LTCG with indexation. Modern statements correctly distinguish these from post-2023 purchases.

Grandfathered equity (pre-31 Jan 2018)

Pre-February 2018 equity-MF holdings benefit from the LTCG grandfathering rule. The statement should reflect the 31 January 2018 closing NAV as the deemed cost basis.

See also

External references

References

  1. AMFI Best Practice Guidelines on capital gains statements.
  2. Income Tax Act 1961, Sections 111A and 112A.
  3. CBDT clarifications on capital gains reporting.

Related articles

Reviewed and published by

WebNotes Editorial Team

The WebNotes Editorial Team covers Indian capital markets, payments infrastructure and retail investor procedures. Every article is fact-checked against primary sources, principally SEBI circulars and master directions, NPCI specifications and the official support documentation published by the intermediary in question. Drafts go through a second-pair-of-eyes review and a separate compliance read before publication, and revisions are tracked against the SEBI and NPCI rule changes referenced in the methodology section.

Last reviewed
Conflicts of interest
WebNotes is independent. No relationship with any broker, registrar or bank named in this article.