Hi Zerodha,
Thank you for providing Tax P&L reports in the new backoffice. This is an excellent initiative by Zerodha and i hope every trader makes use of this report(s) to file their ITR returns correctly.
In the ITR return to be submitted to Income tax department, the breakup of Capital Gains has to be submitted as follows.
Upto 15/9 (i)
16/9 to 15/12 (ii)
16/12 to 15/3 (iii)
16/3 to 31/3 (iv)
However, the Tax P&L Statement generated on q.zerodha.com does not provide the above information.
Also, the detailed trade details i.e breakdown of trades are also not available. For example, in your Tax P&L report, an entry looks like below
# Symbol Buy qty Buy avg Buy price Sell qty Sell avg Sell price Realized Profit
1 NIFTYBEES 5,130 ₹580.99 ₹29,80,473.60 5,582 ₹613.67 ₹34,25,507.54 ₹1,67,654.97
In the ITR form one needs to fill in Full value of consideration and Cost of acquisition for Capital Gains. However, if the underlying breakup of trade details are not available, one cannot use the above information, as Sell price and Buy price does not equate to Full value of consideration and Cost of acquisition.
For example, in the above case Sell price(34,25,507) - Buy price(29,80,473) = 4,45,033 is different from realized gains i.e ₹1,67,654.
So, Full value of consideration and Cost of acquisition can't be found out, if underlying detailed data is not available. So, please make underlying trade breakup available for all Tax P&L reports, so that necessary information can be extracted accurately.
Thank you for providing Tax P&L reports in the new backoffice. This is an excellent initiative by Zerodha and i hope every trader makes use of this report(s) to file their ITR returns correctly.
In the ITR return to be submitted to Income tax department, the breakup of Capital Gains has to be submitted as follows.
Upto 15/9 (i)
16/9 to 15/12 (ii)
16/12 to 15/3 (iii)
16/3 to 31/3 (iv)
However, the Tax P&L Statement generated on q.zerodha.com does not provide the above information.
Also, the detailed trade details i.e breakdown of trades are also not available. For example, in your Tax P&L report, an entry looks like below
# Symbol Buy qty Buy avg Buy price Sell qty Sell avg Sell price Realized Profit
1 NIFTYBEES 5,130 ₹580.99 ₹29,80,473.60 5,582 ₹613.67 ₹34,25,507.54 ₹1,67,654.97
In the ITR form one needs to fill in Full value of consideration and Cost of acquisition for Capital Gains. However, if the underlying breakup of trade details are not available, one cannot use the above information, as Sell price and Buy price does not equate to Full value of consideration and Cost of acquisition.
For example, in the above case Sell price(34,25,507) - Buy price(29,80,473) = 4,45,033 is different from realized gains i.e ₹1,67,654.
So, Full value of consideration and Cost of acquisition can't be found out, if underlying detailed data is not available. So, please make underlying trade breakup available for all Tax P&L reports, so that necessary information can be extracted accurately.
