Introducing Quicko
A super important part of trading is filing income tax returns (ITR), irrespective of whether you’re profitable or have made losses. Through the Markets and Taxation module on Varsity, we have not only explained all aspects of taxation, but also answered thousands of queries. It was obvious that just education isn’t enough, but we need to find a way to help all our customers file their ITR with ease.
With this in mind, we have partnered with Quicko, an online tax filing platform via our Rainmatter initiative. Below is a post from the Quicko team introducing themselves.
Quicko is an online tax planning and filing platform. We are a team of designers, programmers, accountants & content creators on a mission to simplify taxes for all.
We believe taxes are a summary of your financial year. You may have started a new job, changed a job in search of adventure, bought the perfect house for your family, invested in a long-term financial goal, or traded capital markets. We help you claim tax deductions for important life events, optimize your income so you pay less in taxes, pay taxes on time to avoid penalties, and when the due date comes, we help you file your tax returns with the utmost ease.
We have created a Form-16 App for salaried individuals to file Income Tax Return in 3 easy steps. Salaried individuals can simply upload their Form 16, review, and file income tax return within 5 minutes.
Upload your Form 16, review, and file taxes
All our tech is built to make your tax filing experience easy and accurate.
- Our “Tax Breaks Engine” optimizes deductions from over 50 Income Tax sections, saving you thousands in taxes.
- We calculate taxable salary, house property, capital gains, and other incomes with ~100% accuracy, eliminating arithmetic errors.
- The “Rules Engine” validates your Income Tax return against more than 421 rules prescribed by the IT Department and reduces chances of you receiving an IT notice.
Our simple, conversational interface is why more than 50K taxpayers have chosen Quicko to file their tax returns already! It is simpler, faster, and cheaper than going to a traditional tax professional.
We also help traders determine the right ITR form, the applicability of tax audit, due dates, and calculation of turnover as per the Income Tax act. We have set up zerodha.quicko.com for Zerodha traders trading Equity, Intraday, F&O, and Commodities.
Taxation for traders
We have also set up learn.quicko.com to inform & educate taxpayers on important tax matters such as Income Tax Forms, Due Dates, Penalties & Refunds. We are India’s “Most Viewed Authors” on Quora with more than 1000 answers & 5 million views.
We’re always available to answer your questions
We are available on Trading Q&A to answer any queries you may have on taxes. Our New Year’s resolution for 2020 is to bring webinars & courses on your favourite Zerodha channels. Stay tuned!
Check out this short video to know more about the platform: https://youtu.be/Ddi-4okR6wY
Quicko was an unknown platform for me. I came to know about through zerodha. Last year i bought elite membership and filed my taxes and it was hassle free.
But its not same anymore. Having bought the subscription now i am left with no choice. They have not even enabled itr filing till now, they are also not communicating with there users with any update.
I landed up there because of zerodha thinking there eco system is good. Zerodha should be accountable for quicko.
Dear Nithin
I am delighted to say, Zerodha is doing the best for almost all of its products. Your third party apps such as Sensibull, Streak Coin are awesome and I am using these from day one.
But unfortunately, I am sad to say this Quicko failed to file the IT return .
I tried ‘n’ number of times. It throws different errors.
Not only for me, but my friends too are facing so many issues with this Quicko.
Their customer care is also not responding properly.
Please rectify and I hope for the FY 2022-23, we will e-file our trading returns smoothly without any hassles in Quicko via Zerodha platforms.
Hoping for the best
MKS
i m new to zirodha joined December 22nd 2021 and i m a student dont have any taxable income do j need to file file for income tax return or not if yes then this year or next year .
Is E-filing from within Quicko available now? Last time I checked the message was “We will start
E-Filing Soon ! We are awaiting ITR schemas from IT Department. You will hear from us soon.”
Has this issue been resolved now, as of 30 November?
I am getting below error while doing EFILE and this is happening since 2 Months now
We will start
E-Filing Soon !
We are awaiting ITR schemas from IT Department. You will hear from us soon.
When this ITR schemas issue resovled??
Hi Savita,
My name is Vishvajit, I am the founder at Quicko. We are as eagerly awaiting as you are. However, all tax filing platforms are awaiting necessary APIs from Income Tax Department. ITD has made some progress in recent days & we are hoping to commence tax filing soon.
We are really looking forward to simplifying taxes for you.
Hi Quicko,
What will be charges to fill ITR, I m salaried person and also I have some income from short-term share trading on ZERODHA,
When u r going to start filling ITR for FY 2020-21
When my local auditor charging only Rs.1000/-, for submitting ITR2 through Quicko SHOULD only Rs.500/- for those gross income is less than Rs.5lakhs. They can charge Rs.1000/- for income upto 10lakhs
Dear Zerodha Team
E filing of Tax returns is free or chargeable on zerodha?
What are the charges zerodha is putting on clients 900/ or 9000/-
Is zerodha playing around monopoly in being No. 1 stock broker in India.
Why Tax filing is not free ?
Hope I get response
Praveen
am salaried and filed ITR. can i refile it with your software and get some refunds?
I have a loss of just 200 rupees from trading, due to which apparently I need to get a tax audit and file balance sheet. I would like to not claim the 270 rupee loss for the year and save myself the hassle, but there is no option on Quicko to remove the loss from ITR. How can I proceed?
Hi Neeraj,
A taxpayer should always report their losses in their ITR to carry them forward. On Quicko, you can opt-in or opt-out of tax audit depending on your turnover, losses, and total income and file your ITR.
Hi ,
I am new to trading platform , i have started trading in may-2020 . Do i need to fill the ITR for 2019-2020 ? I suppose I need to fill ITR for next financial year which 2020-2021 . please clarify ?
Thanks ,
Ajay
Hey Ajay, you need to file ITR with trading activity for FY 2020-21 next year i.e. AY 2021-22.
worst service don’t take this quicko plan. its been three months and i my tax returns not filed yet.
if you want to contact there is no cutomer servie and you can send only messages which doesn’t solve your problems.
Hi Konda,
We are sorry to hear that. We make sure to respond to all queries of our customers and users in time. Since ITR 3 java utilities from the Income Tax Department were released recently, there was a delay in your order. We understand your ITR is successfully filed 🙂
Are the various reports in your console accurate? I was reading somewhere that your tax reports are now always accurate and can be prone to errors. Till date , I have been relying on them to fill my ITRs
Hey Himanshu, the console tax P&L report is almost always accurate. However, it is best to reconcile before using it for tax filing just to be sure that all trades are considered correctly with proper adjustments for any corporate actions, physical settlements, etc.
I,m a Border security force personnel having monthly salary 100000 per month and started intraday, future and option and trading from August 2019. My wife is a house wife . She has also her own savings and also statred Trading , intraday, future and option from sept 2019. We both having loss about 80000 rs each. What is the procedure to carry forward the losses for next year. I,m regularly filing my return as a salaried employee but my wife has never filed her IT returns. Kindly guide the procedure and the charges. My wife doing some home tuition to small children’s and earn approx 50000 rs annually.
We both having demat account in zerodha. Kindly guide
Trading in Intraday and F&O is a business income as per the Income Tax Act. Further, financial statements should be prepared in the case of business income. Therefore, you should file ITR-3 and report business income, loss and other income. If you can share the Tax P&L Report from Zerodha on [email protected] along with your contact details, one of the experts can review your trading activity and get in touch with you on call to discuss ITR filing or visit us on https://zerodha.quicko.com 🙂
Do it yourself option does not appear? It keeps on loading and is stuck.
Hey Puneet, we are awaiting ITR utilities from the Income Tax Department for AY 2020-21.
We will go live soon & keep you posted 🙂
If you need further assistance feel free to write to us on [email protected]
I have a salary income of around 50K. And did Intrday and F&O trade — 25K profit and Turnover 25Lakhs.. Do I need to do CA audit? Your portal doesnt show the Audit fees and Audit requirement is not clear. It would be better if trader know if he needs to do CA audit or not. Thank You.
Hi Akash,
As per the Income Tax Act, if the turnover is up to INR 1 Cr, profit is less than 6% of the turnover and total income is more than Basic Exemption Limit, Tax Audit as per Sec 44AB is applicable.
You can use this tool to determine tax audit applicability https://tools.quicko.com/determine-tax-audit/
Hi,
I am a self-employed free lance tutor conducting online classes for students. No fixed income range per year, but since past 4 months I am registered with Zerodha and do some occasional Equity trading. Which ITR form should I be filling up for the FY 2019-20 ? Is filing ITR via Quicko free for investors like me ?
Hey Sunil, If you have capital gains from equity trading you should file ITR 2. & ITR 3 for business income from trading (Intraday and F&O).
You can also opt for the presumptive taxation scheme for your freelance tutoring income. Check out this video to know more https://youtu.be/xlXJfm3qLnY
Check out our tool to know which ITR form to file https://tools.quicko.com/know-your-itr-form/ 🙂
Hey Sunil, If you have capital gains from equity trading you should file ITR 2. For Intraday and F&O trading it is ITR 3.
You can also opt for the presumptive taxation scheme for your freelance tutoring income. Check out this video to know more https://youtu.be/xlXJfm3qLnY
In which case you can report your presumptive income, equity capital gains & business income in ITR 3.
Here’s a tool to help you know which ITR form to file https://tools.quicko.com/know-your-itr-form/ 🙂
Sir,
I am a house wife, I am not a salaried employee . I am doing intraday trading, less than 2 lack including leverage . can i use Quicko, as an online tax filing platform to fill income tax returns
Hey, yes you can file your ITR using Quicko 🙂 check our zerodha.quicko.com
If I choose intraday trading plan to pay tax which is around 5000, can I submit Form 16 from my company as well in this same plan?
Hi Shiva,
Yes. The Intraday Plan for traders covers incomes under all 5 heads of Income. So, you can submit Form 16 for Salary Income and any other proofs for other sources of income as well. For further queries, write to us on [email protected] or visit us on https://zerodha.quicko.com
Can the software handle taxation on investment in ETFs on foreign exchanges. LTCG on this is 20%++ after 24 months of holding. Also, there is withholding tax on dividends that need to be offset against tax due.
Every year we export all the trading data from brokers site and give that to the accountant. The accountant does the accounting entry of the same, prepares the balance sheet and P&L. Based on this the tax consultant does the Tax filling for us. Here, I think Quicko is doing only the tax consultant part, r8?
We are building integrations with Zerodha for #TaxSeason2020, where traders will be able to import TAX P&L by logging into their Zerodha account & Quicko will be able to prepare traders tax return programmatically. Reducing cost, improving scale & ruling out human errors. I hope that makes us different than your regular tax consultant 🙂
Kindly introduce-
“Number of times SL will trail” in BO.
Sir
I am a agriculturist, i started trading from May 2019( means learning to trade with very small amount tha is 2000, 3000 total gross turnover of day). I did not fill any it form yet before. Should i fill lT forms from next financial year?
You should. We always suggest our customers stay up to date with tax compliances whether their income is taxable or not. Also, trading activity is reported to IT Department in Annual Information Report (AIR), so always a good practice to file ITR when trading.
A very good one
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Pleaee keep the charges to minimum so that small traders can also use this initiative
Our goal is to leverage our technology to reduce tax compliance cost for traders. Stay Tuned!!! 🙂
If in hindi available then best
Small educational video will be helpful, if possible.
Thanks
One of our New Year Resolution for 2020 is to create easy-to-understand educational videos. Stay Tuned!!! 🙂
Good Initiative and a welcome move. Will prove to be a good value addition.
Thank You
Great. You know exactly what the customer wants and deliver it.
Way to go!
Zerodha,
Thank you very much.
Not worth. Checked their charges!!
Would love to know more about what plans are you comparing. Devil is in the details. Our CA Assisted plans are very competitive & we always serve our customers well.
Good move. T&C and charges should be made clear.
You can find the details on https://zerodha.quicko.com
You can visit https://zerodha.quicko.com for details 🙂
I am a retired individual. I trade normally in NFO futures. Can I use this new initiative?
If you are an Equity, Intraday, F&O or Commodities Trader, Team Quicko can help you file your taxes. Please visit https://zerodha.quicko.com or mail us details at [email protected].
Wow, this is supercool.zerodha has become a mkt place for all investments & wealth creation.
Can any tell me
For how much income(i.e 100000or more or less then that) tax has to be file.
Please mention the amount.
You should file ITR irrespective of your income. You can not claim TDS as refund unless you file ITR. Income up to Rs. 5 Lac will be exempt from taxes for FY 19-20.
I am salaried employee and do the trading.combining both,how do u help me in filing ?
You can visit at https://zerodha.quicko.com or DM us at [email protected].
Sir
When we trade or invest in stock market
We already paying some taxes to government no matter we earn or loss
Then why we have to pay more tax ?
Securities which are subject to STT is taxed at beneficial/Nil rate. While long term capital gain (up to 1 Lac) are exempt from tax, short term capital gain on such securities are taxed at a concessional rate of 15%. Hope this help!!!
Hi All,
Infact, I was wondering if Zerodha can bring this to simplify the process of taxation.
Much appreciated to initiate this process.
Thank you
Mahender
Good Initiative
Thanks for making our life easier!
Hi
For calculating capital gain taxes on shares, what do you require and in what format. Can Zerodha provide this document to us.
Secondly, what are your charges.
You can download Zerodha Tax P&L report from Console. Please visit https://zerodha.quicko.com to determine ITR, Due Dates, Audit Applicability & CA Assisted Plans.
Long awaited! Great tie-up. Kudos to Team Zerodha and Team Quicko! Thank you.
WHAT IS THE FEE AND PROCEDURE
KINDLY INTIMATE.
ON MY MAIL.
Hi Himanshu,
You can share your Income situation on [email protected]. We’ll be happy to assist you 🙂
Good Initiative
ట్రెండ్ కి తగ్గట్టుగా అప్డేట్ అవ్వడం జెరోధా స్పెషల్
continuing with above comment.
Regular monthly audit of data is must to regularise mismatch or mistaked incorporated somewhere.
regards
ramesh gandhi
Not Necessary but it is suggested to het filed itr regularly without any gap
Thank you. Hope i will find it useful when i use it. My salaried income apart, i started trading this year and was wondering about the tax implications. This would be just right for me at the right time.
Will Zerodha demat account history mapped with Quicko automatically ?
Just like @Smallcase, @Sensibull & other integrations, traders must authorize Quicko first by signing in to their Zerodha Account.
congratulations to understand Traders requirement.
Also plan for DIGITAL LOCKER to keep all account data file ready from zerodha as well as other brokers.
like invoive, ledger, equity depository transaction andholding statement ,long term /short term capital gain,dividend record, STT certificates and exchange wise broker wise Profit loss report ( normally refered as Global report in Derivative and Cash market )
these are few of requirement by IT dept when you are under scrutinity.
These may be kept monthly /quaterly and annuall basis.in Digital Lockers.
regards
Ramesh Gandhi.
9920617729
[email protected]
Great to know about Quicko, and that it will take Zerodha reports and automatically crunch them for filing. What are the charges?
Also, when will Zerodha churn out detailed (with all charges per transaction) trade reports between dates in a single csv? It has already matured, and it is high time now that such a report is published. My requests are replied with “we are working on it”
Great !!
I had used their service last year.
I felt Quicko was awesome compared to other online IT return filing vendors.
Good to see zerodha expand it’s universe 🙂
This is what we need when we do some trading rarely. I hope it will help us to do tax filing. I used to skip trading because burden of adding trade details during tax filing.
Very Good Initiative,but it for salaried. What about businessmen who trades frequently in stocks and FNOs …
Soon, you will be able to file ITR-3 including Equity, Intraday and F&O by importing Tax P&L from your Zerodha account. Stay Tuned!!! #TaxSeason2020
i am 84 years old. Last year i file a returns , this year so for i didn’t file since no taxable income for me.
Pl suggest is it necessary to file this yr.
Usually, senior citizens have income from pension and FD interest.
It is advisable to file taxes, so as to claim the tax refund.
Great initiative appreciate Zerodha for taking care of the taxation as well.
Do they provide Tax Auditing in cases where audit is madatory for the trader?
To know more about our services visit https://zerodha.quicko.com for details or write to us at [email protected] with your requirements.
Can you arrange to Generate the Form-16 Sort of Details for the Zerodha trading Account of any Individual. that will be Great help to File tax.
Team had a few discussions about Income Tax Calculator Widget for Zerodha Traders. Your suggestion is duly noted.
Will Quicko help us to file Business Income (From derivatives trading)? If yes, it’s an awesome intiative by Zerodha. Pls reply
Yes. Please visit https://zerodha.quicko.com for ITR Plans.
Thanks for quick response. I got ITR-3 filed at a way lower rate from a highly reputed tax consulting agency. 9k is very expensive. I strongly believe, if Quicko charges less then more volume of returns will be filed through you, just like low derivative segment charges by Zerodha.
Do you offer audit services also? For derivatives trading income?
You can visit https://zerodha.quicko.com for details or write to us at [email protected] with your requirements.
What about itr 3 and all audit requirement?
Zerodha traders will be able to file ITR-3 by simply importing Tax P&L from their Zerodha account. We have some exciting integrations coming #TaxSeason2020 for traders. Stay Tuned!!!
But your charges are neither reasonable nor competitive.
Eg., you charge 9000 for ITR for Equity, Intraday and F&O Traders. There are others in the market who provides same or better service for lesser charges
Thank you for your feedback. This is why Zerodha & Quicko has partnered. Our goal is to leverage our technology to reduce tax compliance cost for traders. Stay Tuned!!!
U can check it now I guess…. chargers are low now… compare to others it’s reasonable
Does this work for NRIs also?
Yes, NRIs can file ITR using Quicko 🙂
Thanks
Sir Isme kaun kaun se account open hote h Jo charge rakha hai apne suru me jase Equity market,FO,ya aur account open hote h ek sath is charge me please sir bataiye
Thanks
No provision to enter 80 TTB for senior citizens
This is a great initiative from Zerodha! Much appreciated. Way to go!!