Most people log into their Schwab or Fidelity account once a quarter when the vest notification arrives, glance at the share count, close the tab, and move on.
If that's you, you're not alone — but you're also leaving a lot of useful information unread. The equity plan statement contains everything your CA needs for a correct ITR filing, everything you need for lot selection, and everything that tells you what you actually own. Learning to read it properly takes 20 minutes the first time.
The Main Platforms and What They Look Like
Google India → Charles Schwab Equity Award Center Amazon India → Morgan Stanley (formerly Smith Barney) / E*TRADE Microsoft India → Fidelity NetBenefits Meta India → E*TRADE (now Morgan Stanley) Salesforce India → E*TRADE Qualcomm India → Fidelity Freshworks → Carta (pre-IPO period), then standard US brokerage post-IPO
Each platform has a slightly different interface, but the underlying information is the same.
The Key Sections to Know
Awards / Equity Awards: This is your grant register. It lists every RSU grant you've received, the grant date, the original number of shares, how many have vested, how many are remaining, and the future vesting schedule. This is where you see all your active grants at once.
Positions / Holdings: This shows the shares you actually own in your account right now — the ones that have vested and haven't been sold. This is your current stock position.
Transaction History: Every event in your account — vest releases, sell-to-cover sales, any shares you've sold yourself. This is what your CA needs to reconcile against your Form 16.
Tax Lots: This is the most important section for tax planning. It lists every batch of shares in your account, grouped by when they were acquired (i.e., when they vested), the FMV (cost basis) on that date, and the current value. Each lot has its own 24-month clock.
Gain/Loss Report: A summary document, usually downloadable as a PDF or CSV, showing your realised gains and losses for the year. This is the document to hand your CA. Download it every April.
📊 TABLE: "Key Documents to Download Annually for ITR Filing" [Insert here: 3-column table] Document | Where to find it | What it's used for Form 16 | Your employer's HR/payroll system | RSU perquisite income for the year Gain/Loss Report | Brokerage → Tax Documents or Reports section | Capital gains from RSU sales Year-end account statement | Brokerage → Statements | Confirming share count at year-end for Schedule FA Transaction history | Brokerage → Transaction History | Reconciliation with Form 16, verifying sell-to-cover
How to Read a Tax Lot
A typical tax lot entry looks something like this:
Lot: 50 shares Acquired: September 15, 2023 Cost basis: $162.40/share Current price: $179.20/share Gain/loss: +$840 (+10.3%) Holding period: 568 days
From this, you can tell: - These shares vested on September 15, 2023 when the stock was $162.40 - You've held them for 568 days (as of a hypothetical today) - 24 months from September 15, 2023 = September 15, 2025 - If you're past that date, selling these shares will be taxed at LTCG rates (12.5%) - If you're before that date, it's STCG (your slab rate — up to 30%) - The unrealised gain is $16.80/share, which would be your taxable capital gain if you sold today
Reading this for every lot in your account gives you a complete tax picture.
What Your Ca Actually Needs
Before filing season, pull these documents together:
1. Form 16 from your employer 2. Gain/loss report from your brokerage for the financial year (April to March — note that US brokerages report on calendar year January to December, so you may need to reconcile) 3. Transaction history for the financial year 4. Current holdings statement for Schedule FA (which uses calendar year, not financial year)
If you're handing these to a CA who's familiar with foreign equity, this is everything they need. If they ask for anything else, or if they're confused by the brokerage statements, that's a signal to evaluate whether they have the right expertise.
How Rovia Can Help
One of the most common things we see: people who have been vesting for three or four years and have never properly read their brokerage account. They don't know how many lots they have, what the cost basis is on each one, or what their total tax exposure looks like.
Rovia will go through your brokerage account with you, explain every lot, and give you a clear picture of what you own and what it means for your taxes and financial plan.
Source: Schwab Equity Award Center: https://www.schwab.com/equity-awards Source: Fidelity NetBenefits: https://nb.fidelity.com
