HDFC Bank launches capital gains report feature on SmartWealth App

HDFC Bank has introduced a new feature to its SmartWealth App, allowing users to track capital gains and losses across all mutual fund investments. The feature is the first of its kind in the industry and aims to make investment tracking and tax filing more convenient.

The Capital Gains & Losses Report lets users view gains from mutual fund investments held on SmartWealth as well as those made on other platforms.

This helps investors who manage multiple portfolios get a consolidated view of their investment performance in one place, HDFC Bank said.

Users can generate capital gains statements for the current financial year, the previous financial year, or select a custom date range. The feature supports both short-term and long-term capital gain calculations.

According to HDFC Bank, the tool offers four key advantages:

• All-in-One View: A unified report of capital gains across all mutual fund holdings, including those from outside HDFC Bank.
• Easy Tax Filing: Instant access to capital gains statements, making it easier to prepare for ITR filing.
• Time Savings: Reduces the need to collect statements from multiple fund houses or platforms.
• Better Insights: Helps users understand their portfolio performance, aiding informed investment decisions.

The feature is now available in the latest version of the SmartWealth App. HDFC Bank has encouraged users to update their app to access the new functionality.

The SmartWealth App is HDFC Bank’s digital platform for mutual fund investments and financial planning.