Has this been resolved?
Accountants/Auditors are also confused about this, so a clear statement or clarification would be great.
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@vijethdinesha @KunalK Thank you for reporting this, I’m still confused about how to instruct my CA.
Can you please help me understand my real capital gain for LIQUIDBEES?
a. Shown in Form-26AS (2.9 Lakh in my case)
b. Zerodha P&L entries with zero buying price (image below)? (~63K in my case)
c. a - b ( 2.23 Lakh after removing duplicate taxation)
d. Should I ignore Form-26 AS and only consider Zerodha P&L as a real capital gain?
I appreciate your guidance.
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Per my understanding, the buy value should not be zero. It should be 1000 Rs per unit according to How are the dividends on Liquid ETFs and Liquid BeES taxed?
After updating the buy value, you may compute capital gains (and it should be a small value around +/- 0.01 per unit).
Also, from the above article, note that LIQUIDBEES capital gains are considered long term (LTCG) only if holding period is 3 years or more. Zerodha P&L report incorrectly shows gains above 1 year as long term. You should review/update appopriately.
The income declared in Form 26AS is correct (This is the dividend income from LIQUIDBEES).
Zerodha is yet to come up with an explanation. You may file a support ticket with Zerodha and if you don’t hear back, file a complaint with SEBI scores.
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