ICICI Direct enables customers to file I-T returns online

PTI Mumbai | Updated on June 21, 2011

ICICI Direct today unveiled a feature that enables customers to electronically file their income tax returns online.

The tool allows customers to instantly calculate their capital gains statement, automatically upgrade all mutual funds transactions and record dividends for all transactions, while computing capital gains.

ICICI Direct, a three-in-one trading platform which links customers’ banking, stock trading and Demat accounts, is the retail online broking arm of ICICI Securities.

“This is the only financial services provider to facilitate instant calculation of capital gain statement for both equity and mutual funds. Filing tax returns have been simplified considerably. It is now as easy as booking an airline ticket on the Internet,” ICICI Securities Vice- President (Product Advisory Group) Mr Hariharan M told reporters here.

The tool enables automatic updating of historical transactions for all mutual funds transferred-in, besides the dividend record for all investments made on the ICICI Direct platform.

“Computation of capital gains or losses is supposed to be complex and time consuming. But using this tool, ICICI Direct customers may consolidate their investment portfolios, obtain date-wise records of transactions, identify income as dividends and interest, as well as adjust cost for dividend reinvestments, besides segregating long and short term transactions and calculating profit and loss,” he said.

Published on June 21, 2011

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