Zerodha tax reports

It is critical for traders and investors to file their taxes, whether they made a profit or a loss. People often think that they don’t need to file taxes if they’ve made losses, but that’s not true. We also understand that filing your taxes might seem difficult, so we have created reports on Console to make this process as simple as possible.

Here’s an overview of Console’s tax-ready reports and how they can help you file your taxes.

You can also watch this video in Hindi here.

Tax profit and loss (P&L) statement

Your tax P&L report gives you a breakup of:

• Speculative equity intraday trades.
• Non-speculative F&O trades.
• Capital gains from delivery trades.
• Charges, taxes, and net gains or losses.

To download your Tax P&L report, click here.

Other reports that can help you when filing taxes are:

• Contract notes

Contract notes include details for all the trades executed on a particular day and a breakdown of all the charges incurred for the transactions made. You can download contract notes for up to 1 year at a time on Console, by clicking here.

• Tradebook

The tradebook includes details of all the trades executed in a particular segment for a particular period. To download the tradebook on Console, click here.

• Fund statement as of 31st March

You can check the statement of all your transactions and billing details with Zerodha in the funds statement available on Console. To download the funds statement, click here.

• Holdings statement as of 31st March

The holdings report in Console displays the number of securities held in your portfolio as of a specific date. To download the holdings statement, click here.

• Annual Global Statement

The Annual Global Statement (AGS) is a consolidated report for the last financial year covering all trades, brokerage, taxes and charges for the account during the previous financial year. To download the Annual Global Statement, click here.

Filing taxes may seem like a daunting task, especially if you are doing it for the first time. We have written an entire module explaining taxation when trading and investing on Varsity.

We have also made videos explaining income tax for traders and investors in detail. Watch Income tax for stock market traders and Income tax for stock market investors.

If you have any questions on anything related to taxation, please post them on TradingQnA here.

We have partnered with Quicko to make tax filing easy for Zerodha users. Visit Quicko to learn more.

Here are some things to remember while filing your taxes for FY2023-24:

• The last date to file your ITR is July 31, 2024.
• Income from various trading and investing activities has to be reported under the ITR head as mentioned in the table below:

• In case you have only traded equities on a delivery basis resulting in capital gains, you can use the ITR 2 to file your returns.
• If you have traded equity on intraday basis and F&O resulting in business income, you will have to use the ITR 3 or 4 to file your returns.
• The Tax P&L report also includes Tradewise P&L for all segments, including provision for grandfathering long-term capital gains on equity and equity mutual fund investments made on or before January 31st, 2018.
• Since July 5th, 2019, buybacks are no longer taxed in the hands of investors. The Tradewise P&L shows buyback trades separately so that profits from all buybacks can be reduced from the capital gains.
• All the dividends earned for the previous financial year are shown separately. While filing your income tax return, income from dividends has to be filed under income from other sources.
• All the charges and credits that are not part of the contract note, such as DP charges, Account Maintenance Charges, payment gateway charges, account opening charges, etc. are shown on a separate sheet as other credits and debits.