HDFC Bank's latest feature helps you track your capital gains
What's the story
HDFC Bank has added a new feature in its SmartWealth App to help users keep a track of capital gains/losses from all mutual fund investments.
The first-of-its-kind facility in the industry will simplify investment tracking as well as tax filing for users.
The Capital Gains & Losses Report gives an overview of profits from mutual fund investments held on SmartWealth and on other platforms.
Investment consolidation
A boon for investors with multiple portfolios
This new feature is especially useful for investors with multiple portfolios as it provides a consolidated view of their investment performance in one place.
Users can generate capital gains statements for the current financial year, last financial year, or a custom date range. The tool even supports short-term and long-term capital gains calculations.
HDFC Bank has touted four key benefits of this new tool: an all-in-one view, easy tax filing, time savings, and better insights.
Benefits
Key advantages of the new feature
The all-in-one view gives a consolidated report of capital gains across all mutual fund holdings, even those outside HDFC Bank.
This instant access to capital gains statements makes ITR filing preparation easier.
The tool also saves time by eliminating the need to collate statements from different fund houses or platforms.
Plus, it gives better insights into portfolio performance, helping users make informed investment decisions.