Finvasia

cloudTrader

Well-Known Member
@Finvasia , are you allowing multi leg hedged positions in Options with margin benefits for hedged positions now ? Earlier I tried straddle but there was no margin benefit. So I didn't try Butterfly or Iron Condor with Shoonya App.

If possible do apply the margin benefits due to these peak margin penalty drama.
 
Attention Finvasia stock traders :
Filing ITR-3 using zerodha & Finvasia Tax P&L staements
1) Zerodha's Tax P&L is comprehensive . They give equity intraday turn over. speculative Profit/loss & scrip wise sale& buy values of both indtraday & SCGT seperately. similar other tabs for F&O,CDS,Commodity etc is quite comprehensive, we can upload directly in to quicko & find out Tover falls under tax audit ot not (any way profit below 6% /above 1 crore turn over have to do tax audit.
2) finvasia;s console giving equity,F&O,currency, commodity Tax P&L as seperate spread sheet downloads.
In equity they mention speculative profit/loss, delivery(STCG) profit or loss but give one lumpsum all equity combined sales value & purchase value. (not sure whether iit is only for STCG or includes all transactions.

Kindly traders who filed/ filing ITR3 using Finvasia Tax P&L - please kindly give guidance how to go about it. (1st time have to file ITR3 for stock trading. all these years only ITR1 with bank interest income as the only source of income)
Use online consultants like eztax.
 

TracerBullet

Well-Known Member
find out Tover falls under tax audit ot not (any way profit below 6% /above 1 crore turn over have to do tax audit.
1 crore turnover limit has been increased multiple times. For last FY, its 5Cr (for trading as all of it is digital. )
http://incometaxmanagement.com/Page...ed-to-5-crore-Applicable-from-AY-2020-21.html

Or perhaps its even 10Cr, seems like this year's budget change takes effect for previous FY ( and current AY).
https://qna.tax/t/applicability-of-...n-5cr-and-less-than-10cr-for-fy-2020-2021/455
 
AY2021-22 Tax turnover limit is 5 CRORES for tax audit.
But for profit less than 6% does the exception applies?
Filing ITR3 -profit less than 6% (marginal loss after taxes/brokerage etc)
less than 1 crore Tax turn over (intraday equity + all F&O)
all delivery equity under STCG (disregarding sale turn over)
Now wondering tax audit should be done or not .
 

TracerBullet

Well-Known Member
AY2021-22 Tax turnover limit is 5 CRORES for tax audit.
But for profit less than 6% does the exception applies?
Filing ITR3 -profit less than 6% (marginal loss after taxes/brokerage etc)
less than 1 crore Tax turn over (intraday equity + all F&O)
all delivery equity under STCG (disregarding sale turn over)
Now wondering tax audit should be done or not .
I did not consider that, there are multiple ifs with different rule for > 2cr - better check yourself.
 

Finvasia

Well-Known Member
@Finvasia when is the plan to get hedge margin benefit at Order level rather than trade level... Every other broker is providing same and once you have started Shoonya you stopped giving it. Any particular reason why you cant give that benefit on Shoonya, when you were giving earlier on NEST/BEST?
Hi! We are in the middle of various compliances to be implemented specially the hedging and peak reporting margins. We are making all possible efforts to pass the benefits to the clients. Regards
 

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