Shear walls are critical structural components in mid to high-rise buildings, designed to resist lateral loads such as those caused by wind and earthquakes. Unlike reinforced concrete (RC) columns, which primarily experience axial forces combined with biaxial bending moments, shear walls are subject to axial forces coupled with significant in-plane bending. In shear wall design, vertical reinforcements are generally arranged evenly throughout the section. These reinforcements have been treated as a continuous steel plate extending along the wall’s length, which helps streamline both the analysis and design procedures. The design approach involves utilizing stress blocks to represent concrete under compression, as well as steel under both tension and compression. These stress blocks play a crucial role in assessing and determining the wall section's load and moment capacity. To ensure the safety and stability of shear walls, interaction charts, similar to those used for column design, are employed. These charts depict the relationship between axial loads and bending moments (P-M interaction) and are vital for comprehensive design. However, current Indian Standards lack detailed design tools specifically tailored for shear walls. Instead, they rely on simplified closed-form equation provided in IS 13920:2016. These expressions often fail to align with the requirements of the Limit State Method (LSM) as specified in IS 456:2000, particularly in scenarios requiring a more nuanced analysis. This study addresses these limitations by proposing P-M interaction diagrams tailored for various grades of structural concrete (as per IS 456:2000) and four commonly used grades of high-yield strength deformed (HYSD) steel: Fe415 to Fe600. The proposed charts comply with the LSM framework and provide a more accurate representation of shear wall behavior under various loading conditions. A comparison between the moment capacities obtained from these interaction charts and those computed using the closed-form equations in IS 13920:2016 highlights notable differences. The code-prescribed formulas do not provide accurate results in cases where the neutral axis extends beyond the section and when the behavior is primarily governed by steel beam action. For shear walls with higher values of reinforcement percentages and axial loads, the codal equations yield overly conservative results. Conversely, for walls with lower reinforcement percentages, the results tend to be unsafe. Notably, even the draft version of IS 13920 (2024) retains these simplified expressions, perpetuating these issues. The proposed P-M interaction charts offer a practical and comprehensive alternative to these limitations. They effectively cover all possible failure scenarios, including under-reinforced, balanced, and over-reinforced conditions, as well as failures influenced by steel beam conditions. This versatility makes the charts applicable to a broad range of design requirements and structural configurations, providing a more reliable tool for shear wall design.