Capital Gains Report

The Capital Gains report shows the profit or loss on Indian shares and mutual funds (and ETFs) you sold in a financial year, the gain you would make if you sold what you still hold, and an estimate of the tax on it.

Opening the report

Go to Insights → Capital Gains in the top menu (on mobile, open the menu drawer and look under Insights). The page lives at agnifolio.com/insights/capital-gains.

Use the Financial year dropdown at the top to switch years. A financial year runs from 1 April to 31 March, shown as, for example, FY 2025-26. The list holds the current year plus every year in which you sold something, and opens on the latest year with a sale. Reports start from FY 2018-19.

The report is worked out for one person at a time, because each person files their own return. It opens on your own (Self) accounts. The Whose gains picker switches to another account, such as your spouse’s, which gets its own allowance.

What’s included

The report covers holdings that are:

recorded as a Stock, ETF, Gold ETF, Silver ETF, Mutual Fund or Index Fund, and
Indian: priced in rupees, listed with a .NS (NSE) or .BO (BSE) symbol, or a fund with an ISIN starting INF, and
for a fund, recorded in rupees, and
backed by transactions (buys and sells). A holding with only a value and no transactions has nothing to calculate from.

Not covered: foreign shares, crypto, Indian funds recorded in another currency (they are listed under Needs attention), and years before FY 2018-19.

Funds imported from a CAS (CAMS, KFintech, NSDL or CDSL) bring their dated purchases when the statement covers them, so they are counted. A summary CAS has balances only, without purchase dates, so those units are listed under Purchase date unknown instead.

How shares are taxed

Oldest shares sell first (FIFO). A sale is matched against your earliest purchases, the same way the tax rules do.
Long term means held more than 12 months. Exactly 12 months is still short term.
Bonus shares cost nothing. Splits change the number of shares, not what you paid.
Rates follow the sale date:

Sold	Short-term rate	Long-term rate
Before 23 July 2024	15%	10%
On or after 23 July 2024	20%	12.5%

Yearly tax-free long-term gain follows the financial year: ₹1,00,000 a year up to FY 2023-24, and ₹1,25,000 from FY 2024-25 (the whole year, including sales before 23 July 2024).
Same-day buy and sell (intraday) of shares or ETFs is business income, not a capital gain, so it is listed separately.

How funds are taxed

The four fund types

A fund’s tax depends on what it holds. The report puts every fund into one of four types. These are the same words you see if you’re asked to choose:

Fund type	Typical funds	How it is taxed
Mostly Indian shares (65% or more)	Equity funds, ELSS, equity index funds and ETFs, aggressive hybrid, arbitrage	Exactly like shares: long term after 12 months, the rates above, and the same yearly allowance
Mostly bonds / debt (more than 65%)	Debt, liquid, gilt, debt index funds and ETFs, target-maturity, conservative hybrid	Bought on or after 1 April 2023: always short term, taxed at your slab rate, however long you held it. Bought earlier: the other fund rules below
Gold, silver or overseas, with 35% or less in Indian shares	Gold and silver ETFs and funds of funds, overseas funds of funds and index funds	Bought on or after 1 April 2023 and sold by 31 March 2025: always short term, at your slab rate. Otherwise: the other fund rules
A mix, with Indian shares between 35% and 65%	Balanced hybrid	Always the other fund rules

The “always short term” rule is the specified mutual fund rule: Section 50AA for sales up to 31 March 2026, and Section 76 of the Income-tax Act 2025 from 1 April 2026. The report labels both “(debt fund rule)”.

Other fund rules (no yearly allowance applies to these gains):

Sold	Long term when held more than	Long-term rate	Short-term
Before 23 July 2024	36 months	20%, on a cost raised for inflation (indexation)	Your slab rate
On or after 23 July 2024	12 months for an ETF, 24 months for other fund units	12.5%, no indexation	Your slab rate

What changed, and when

Date	Change
Bought from 1 April 2023	Debt funds became always short term at your slab rate. Gold, silver and overseas funds too, for sales up to 31 March 2025
Sold from 23 July 2024	Equity rates moved to 20% / 12.5%. Other funds: 12 or 24 months instead of 36, and 12.5% without indexation instead of 20% with it
Sold from 1 April 2025	Gold, silver and overseas funds are no longer always short term; they follow the other fund rules
Sold from 1 April 2026	The Income-tax Act 2025 replaces the 1961 Act. Rates are the same; section numbers change (111A → 196, 112 → 197, 112A → 198, 50AA → 76)

Who decides the fund type

AMFI’s category decides. AMFI publishes a category for every Indian mutual fund (for example Equity Scheme - Flexi Cap Fund or Debt Scheme - Liquid Fund). When the category settles the tax type, the report uses it and you can’t change it.
You’re asked only when it doesn’t. Some categories can go either way, for example balanced advantage, multi-asset, many funds of funds and some index funds. Those funds appear under Needs attention as Choose this fund’s tax type, with the four options above. The fund’s factsheet, or the “Tax” section of its scheme document, tells you which one it is.
Overseas-name check. A fund filed under an equity category whose name points abroad (for example International, Global, US, Nasdaq, S&P 500, China, Japan) is asked about instead of being treated as an equity fund, because a fund holding foreign shares isn’t taxed like one. If it really holds Indian shares, choose Mostly Indian shares.
You can change or clear your choice. A fund counted because of your choice shows Tax type: your choice with Change and Clear my choice. Changing it updates the totals straight away. Clearing it sends the fund back to Choose this fund’s tax type. Only the account owner can choose; an adviser viewing your account can’t.

How fund units are matched

Oldest units sell first (FIFO), within each folio for units held with the fund house, and within each demat account for units and ETFs held there. Two folios of the same fund are matched separately, as the fund house does when you redeem.
A switch is a sale and a purchase. Switching from one fund to another, or from a regular plan to a direct plan, sells the old units and buys the new ones on the switch date.
Same-day buy and redeem of fund units is an ordinary short-term gain, not intraday trading, because the units are bought from and sold back to the fund.
Reinvested dividends (IDCW) are new units bought on the reinvestment date, at that day’s NAV.

What you see

Summary cards

Card	Meaning
Short-term gain	Gains on sales that count as short term. What counts as short term depends on what you sold (see How funds are taxed)
Long-term gain	Gains on sales that count as long term
Tax-free allowance used	How much of the yearly long-term allowance your shares and equity funds used
Estimated tax	Tax on the gains taxed at a known rate, including 4% cess
Taxed at your slab rate	Shown only when you have such gains: the amount, after losses, that adds to your income and is taxed at your slab rate. It is not in the estimated tax, because your slab depends on your whole income

Tables

Sold in FY … lists every sale in the year: holding, type, quantity, bought date, sold date, cost, sale value, gain, term and section.

Still holding lists what you own today with the gain you’d make if you sold now. The Term column tells you when a holding turns long term, for example Short-term · long-term in 42 days, which helps you time a sale. A debt fund bought from 1 April 2023 reads Short-term (debt fund rule), because it never turns long term.

Type shows Equity fund, Debt fund or Other fund for a fund, and is empty for shares. It is hidden on narrow screens.
Section shows the rule applied to a fund, for example Section 112A or Section 50AA (debt fund rule). A gain taxed at your slab rate shows Your slab. It is empty for shares.
When the cost used is not what you paid, hovering over the cost shows why: the indexed cost, or the value on 31 Jan 2018 used as cost.

How losses are set off

Long-term losses only reduce long-term gains. Short-term losses reduce gains taxed at a known rate first, highest rate first, then gains taxed at your slab rate, and last gains already covered by the ₹1.25 lakh allowance.

If your slab rate is higher than the rate on those known-rate gains, your tax adviser may prefer to set losses against slab-rate gains first.

Currency

Gains are shown in your chosen display currency, converted at today’s rate. The tax, the allowance, the cess and the Taxed at your slab rate figure always stay in rupees, because that’s how they’re filed in India.

Grandfathering (units bought before 1 February 2018)

For equity mutual fund units bought before 1 February 2018 and sold (or held) long term, the cost used is the higher of what you paid and the lower of the fund’s value on 31 January 2018 (its NAV that day) and the sale value. This is the 2018 rule that protects gains made before long-term tax on equity began.

It is not applied to:

debt and other funds, which the rule doesn’t cover;
shares and ETFs, yet. They carry a Pre-2018 tag, and the tax shown for them may be higher than what you’ll owe.

Needs attention — why a sale is missing

Anything the report can’t calculate safely is left out of the totals and listed under Needs attention, with a link to the holding so you can fix it.

Group	What it means	What to do
Choose this fund’s tax type	AMFI’s category doesn’t settle how this fund is taxed	Pick one of the four types (see Who decides the fund type)
Add the fund’s ISIN	The fund has no ISIN, so its tax type can’t be found	Open the holding and add the ISIN (it’s on your statement)
History incomplete — add the missing buys	The units you hold don’t match your recorded buys and sells, you sold more than you bought, or a transaction has no date	Add the missing buy transactions on the holding’s page
Purchase date unknown — record as a BUY on the original date	The units came from a transfer, a corporate action or a statement without purchase dates (such as a summary CAS)	Record them as a BUY on the date you bought them, or import a detailed CAS
Intraday trades — not capital gains	Shares or ETFs bought and sold on the same day are business income, not capital gains	Nothing to fix; they’re listed for your reference
Recorded in another currency — record it in rupees	Indian tax is worked out in rupees, and this Indian fund is recorded in another currency	Record the fund in INR to include it
Side-pocket (segregated) units — not calculated	These units are a side pocket (segregated portfolio) of a fund, which needs its own tax treatment	Work it out with your CA. The main fund is still in the report, but part of its cost may belong to the side pocket
Fund merged by the fund house — check this sale	The switch notes say the fund house merged the scheme. A merger isn’t a sale: the cost and purchase dates carry over, which the report can’t follow yet	Check this pair with your statement and your CA
31 Jan 2018 value not available yet	Grandfathering needs the fund’s NAV on 31 January 2018. Either AMFI has no price that day for this fund’s ISIN (it may have changed after a merger), or the price couldn’t be loaded and the report will try again when you open it later, or an adviser is viewing and the price loads the next time the account owner opens the report	If AMFI has no price, work these units out with your CA. Otherwise open the report again later
Bought before April 2001 — not calculated	A long-term lot of a non-equity fund bought before 1 April 2001 can take its value on 1 April 2001 as cost, which the report doesn’t work out yet	Work it out with your CA
Same folio recorded twice — merge them	Two holdings have the same fund in the same account, platform and folio	Merge the two so their units can be matched oldest first
Reinvested dividend without a price	A reinvested dividend has units but no NAV, so its cost is unknown	Add the NAV to that transaction

Other reasons a sale may not appear:

It happened in a different financial year: check the dropdown.
The holding isn’t an Indian share, ETF or mutual fund (see What’s included).
Moving units to another account is a transfer, not a sale, so it never creates a gain.

Exporting

Export Excel downloads a file such as capital-gains-FY2025-26.xlsx with four sheets: Summary, Realized, Unrealized and Needs attention. The Realized and Unrealized sheets have the same columns as the page, plus Indexed cost and 31-Jan-2018 value, and show the section for shares too. The Summary sheet includes the Taxed at your slab rate line and the exchange rate used, so your accountant can see exactly how the figures were converted.

Limits to know

The report does not include surcharge, losses carried forward from earlier years, other income or rebates.
Grandfathering is applied to equity mutual fund units only, not yet to shares or ETFs.
The ₹1.25 lakh long-term allowance is shared by your shares and equity funds in this report, and by any you hold outside Agni Folio.
Stamp duty is included in your cost, as on your statement. For a purchase you type in yourself, enter it as the fee.
Fees are treated as deductible brokerage. Don’t include STT in the fee: it isn’t deductible.
Fund mergers. A fund merged into another by the fund house shows as a sale and a purchase, unless the statement notes say it was a merger (then it is listed under Needs attention). Grandfathering for units that came from a merged scheme uses the current fund’s 31 January 2018 NAV.
Fund type is today’s AMFI category. A fund that changed its nature (for example in SEBI’s 2018 recategorisation) is treated as it is today, also for past sales.
NRIs whose default country is not India can’t open the report yet, even though Indian fund gains are taxed in India.

What’s next

Transactions: the buy and sell records this report is built from
Import your CAS: bring in your funds with their dated purchases
Premium Plan: what else comes with Premium