PhonePe is India’s leading digital payments and financial services platform, trusted by over 500 million registered users. Since its launch in 2016, it has revolutionised the way India transacts, enabling everything from UPI payments and bill settlements to mutual fund investments, insurance, stock trading, and more.
As PhonePe’s investment offering share market gained rapid adoption, the team identified a major friction point for users: filing taxes on their investment income. Investors often found it challenging to accurately compute capital gains, comply with filing schedules, and provide tax professionals with the right documentation.
CHALLENGE
Bridging the Gap Between Investing and Tax Reporting
For millions of users investing in stocks and mutual funds through PhonePe, tax season became a source of confusion and complexity. Most investors struggled to calculate their capital gains accurately, distinguish between short-term and long-term holdings, and account for events like splits, bonuses, and dividends. The absence of a consolidated, compliant Tax P&L statement meant users had to manually compile data from multiple sources, leading to delays, errors, and frustration.
SOLUTION
Real-Time, Accurate Tax Summaries with Tax P&L APIs
To solve this problem, PhonePe integrated Tax P&L Report download APIs for domestic securities directly into the Share.Market experience. These APIs enabled automatic generation of detailed, ITR-ready capital gains statements clearly categorised by short-term and long-term holding periods, and adjusted for corporate actions like splits and bonuses all aligned with India’s tax regulations.
Users can now seamlessly access these reports within the app and either download them or share them with their tax advisors. This eliminated the need for spreadsheets, manual reconciliation, or external tools.
RESULTS
Effortless Compliance at Scale
The integration of Tax P&L APIs transformed tax filing from a fragmented, manual process into a smooth, fully automated experience. Users could file returns faster and with greater accuracy, significantly reducing the burden of tax season. In parallel, PhonePe experienced a notable decline in tax-related support queries, reducing internal overhead during peak filing periods and improving overall user satisfaction.
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