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HDFC Bank launches capital gains report feature on SmartWealth App

HDFC Bank launches capital gains report feature on SmartWealth App

The newly launched Capital Gains & Losses Report feature aims to simplify the traditionally cumbersome task of tracking and compiling investment data spread across multiple platforms, particularly during tax filing.

Business Today Desk
Business Today Desk
  • Updated May 30, 2025 5:24 PM IST
HDFC Bank launches capital gains report feature on SmartWealth AppThe SmartWealth App allows investors to Instant SIP to help users start mutual fund investments immediately, and offers a single view of mutual funds, fixed deposits, and demat holdings.

In a move to simplify tracking investments and tax filing, HDFC Bank has rolled out a first-of-its-kind feature on its SmartWealth App, allowing users to track capital gains and losses across all mutual fund platforms, not just those held within the bank.

The newly launched Capital Gains & Losses Report feature aims to simplify the traditionally cumbersome task of tracking and compiling investment data spread across multiple platforms, particularly during tax filing. By offering a unified view of gains and losses, the feature helps investors save time, eliminate the need to collect statements from various fund houses, and make more informed investment decisions.

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The goal is to ease portfolio analysis and income tax return (ITR) filing and is part of a larger trend in the Indian financial services sector, where digital platforms are increasingly being designed not just for transactions but to provide greater control to investors.

The app also allows investors to Instant SIP to help users start mutual fund investments immediately, and offers a single view of mutual funds, fixed deposits, and demat holdings. The app also allows users to explore and purchase life and health insurance plans, positioning itself as a one-stop solution for financial planning.

To enhance accessibility, HDFC Bank recently launched a Hindi version of the app, enabling regional and first-time investors to engage more comfortably with digital finance.

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With an increasing number of Indian investors diversifying their mutual fund holdings across fintech platforms, AMCs, and banking portals, a centralised capital gains view addresses a major challenge during the ongoing tax season.

India's tax department has recently decided to extend the due date of filing of ITRs, which are due for filing by 31st July 2025, to 15th September 2025, which gives more time to taxpayers to assess their tax liabilities.

Published on: May 30, 2025 5:19 PM IST
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