Comment on Zerodha - your tax aide while you trade

venkata commented on 28 Sep 2016, 11:02 PM

I am active member of zerodha in FY 2014- 15 and 2015-16 and paid almost 1 lakh brokerage . Please Provide immediate assistance as I am struck here.

For FY 2014-2015 , I filled IT returns though some 3rd party. They used ITR2 and Calculated turn over as Buy price+Sell price which caused Heavy turn over and I am getting Limited scrutinity notices as turn over exceeded 10 crores .There were many intraday futures I did Which is 57 times leverage. So,I was able o generate heavy turnover that way . How to overcome this problem ??

But as you said actually turn over is calculated differently .Sum of favourable trades + unfavourable trades .

Can you suggest to overcome this ??

DId my Consultancy did anything wrong ? Is it calculated that way in ITR2 ?
Is there anything like if I use ITR4,turnover is calculated differently like sum of favorable and unfavourable trades .

I idnt fill ITR for FY 2015-16 Yet . Please suggest Ho to fill . Any CA people available in Hyderabad that you can help?

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