Zerodha - Number One Discount Broker in India

[simplebuthard]

But they sure know how to charge hefty amount as fees !

It is good if you use IT4.

Actually there has been a serious discussion with my auditor and he argued that why auditing is not required. He said that only limited number of CAs available and each CA has limitation on how much accts he can audit, and considering the lakhs of people who trade on FNO, if each one need to be audited, that is practically impossible.

 

[comm4300]

It is good if you use IT4.

Actually there has been a serious discussion with my auditor and he argued that why auditing is not required. He said that only limited number of CAs available and each CA has limitation on how much accts he can audit, and considering the lakhs of people who trade on FNO, if each one need to be audited, that is practically impossible.

agreed and valid point. But when the tax man comes knocking we cannot use this argument. It's better to be safe than sorry.

CAs should make/recommend Finance ministry to ease the taxing method for FnO traders. This will ensure many people filing taxes.

 

[megapixel]

anybody using PI bridge with MetaTrader ?

Can we view the chart in MetaTrader for any timeframe with this bridge ?

 

[bearish]

Is there any option to get daily MTM profit and loss report in Q? Ledger doesn't give a clear MTM report on daily basis. Thanks

 

[XUV-500]

PS - posted this same query on ZT/Z-connect blog on taxation as well. Hoping for a quicker response.

link please

 

[TraderRavi]

link please

see the comment in last by loke4300

http://zerodha.com/z-connect/traders-zone/taxation-for-traders/taxation-for-traders-introduction

 

[timepass]

Installed Pi today. Tried logging in, getting "bad gateway" error.

 

[comm4300]

Zerodha/Trader-tax payers:

for FY 2014-15 i need to file my taxes. Losses on derivatives trading.
Per Zerodha, if Turnover > 1Cr then Audit is required.

Form to be used in such a case is ITR IV

Now, the CA i met in Pune - says since you are just a retail trader, file taxes as per ITR2 and you can carry forward the losses to next financial year. No need for ITR IV. I told him that i have done ONLY Derivatives trading and NO equity trading (no demat as well); despite this, he insist on using ITR 2.



How true is this? can someone please throw some light on this issue please?


PS - posted this same query on ZT/Z-connect blog on taxation as well. Hoping for a quicker response.

Posting Nithin's reply from Zconnect:

 

[market oracle]

Re: Savethebrokerage.

This is retrograde thinking by the so called traditional brokers. The fact is their much hyped Relationship Managers do not do anything worthwhile for the retail traders. They just give a polish talk. But the same RM's will do everything for HINI customers. So the claim of traditional brokers is misleading and fraudulent.

This is also why retail customers have practically disappeared from the scene. They have to invest their time and money and work ONLY to make money for these Traditional brokers. Discount broking gave the retail category a new chance to make something for their efforts.

Hope SEBI realises this. Unfortunately, the lobby of Traditional brokers is much larger than the discount brokers. So with the right kind incentives offered to the officials, the TB's may win in some way.

After all what do the officials stand to loose by bringing in minimum brokerage?

Hope they put something like 5/-on a punched in trade with a cap on max percentage of 0.1%

Does SEBI has the guts to make these traditional brokers stop looting the traders?

agsuresh,

You have very valid points. But the argument you make is one sided. You seem very knowledgeable.. Just think of it from the other angle without any bias.

 

[NJ23]

We are working on probably the first time in India, where you can get order confirmations back on to Ami via the pi bridge.

So you can incorporate order confirmations/fills into your AFL. I guess the people who use AFL will know how cool this feature could be.

Until we offer this, Bridge is on trial.

Would we be able query capital present, positions as well? We can use position sizing models through AFL that way. Position sizing algorithms can not be incorporated in Pi through tradescript.