When I opened the tax P&L reports section of mutual funds on Zerodha console it shows me a “long term realized profit” of 5k.
When I download the tax P&L csv statement and open the mutual funds tab, it corroborates this 5k long term realized profit seen in the console.
However, when I go to the tradewise exits tab in the csv statement, since some of the mutual fund units were purchased before 31/01/2018, it is somehow reducing the long term capital gains amount on them (I think through some grandfathering thing). So if I sum up the “adjusted” gains from this tab, it turns out that I actually had a net capital loss (some -2k).
Am I correct in understanding that I should completely ignore the 5k profit that was shown in the console (on the website before downloading the csv statement) and in the “mutual fund” section of the csv statement? And I should go by the gains mentioned in the “tradewise exits” tab of the csv statement?
This is quite confusing. When I download the tax P&L statement I was hoping it would tell me just the P&L for tax purposes.
And lastly there is a column in the “tradewise exits” tab of the statement called “Fair market Value”. Is this the NAV of the fund as on 31/01/2018 used for grandfathering purposes? They ask for the price of the fund as on 31/01/2018 in section 112a of the ITR, so should I use this column’s value there?