Comment on Taxation for Traders - Introduction

Nithin Kamath commented on 16 Jun 2014, 09:22 AM

So you have 1 lot carried forward to 13/14 on April 1st, for this don’t consider the price that you have bought on 25 march, but consider the MTM price as on 31th march. So assuming the Nifty closing price was 5800 on March 30th, that is your base price on which P&L needs to be calculated. So now assume on 2nd April you have bought another one lot at 5700, now your average buy value is 5750 for 2 lots. If these lots were sold at 5600, you made a loss of 150 points x 100 = Rs 15000.

So this would be the correct way for filing, if you are trading with us, give us time till this weekend, we will have a tax ready P&L on our new backoffice. The current backoffice P&L is a little confusing.


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