Comment on Zerodha - your tax aide while you trade

Chandubhai makwana commented on 30 Mar 2016, 06:36 PM

Hello, Please find below my total turnover statement for FY 2015-16 as extracted from your website. I trade only in F&O and I do not have any other source of income.

FUTURES GROSS PROFIT₹-2,94,578.75
OPTIONS GROSS PROFIT₹-52,697.50
TOTAL GROSS PROFIT₹-3,47,276.25
FUTURES TURNOVER₹10,13,383.75
OPTIONS TURNOVER₹1,97,628.75
TOTAL TURNOVER₹12,11,012.50
TOTAL CHARGES₹19,071.60

I have the below taxation queries and looking fwd for your response on the below:
1) Can you please advise whether I have to get my accounts audited?
2) Also, which ITR form I need to fill?
3) Further, I guess I can c/f the above loss for upto 8 years and I can offset them against any profit I make in F&O in the coming (8) years – Please confirm that my understanding is right on the same.

Many thanks.

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