Are brokers required to provide profit and loss report at the end of the year?
or its not mandatory as per regulations?
I am not asking about Zerodha - Zerodha does provide PNL.
If broker does not provide PNL report - how would a client know how much income tax to file …I think it is impossible for a client to know PNL …unless broker provides one.
Also, broker has duty to provide correct PNL ? if PNL has errors broker is in violation of regulation?
I believe all brokers have to send profit and loss statement to income tax department at the en do of the year? otherwise how would income tax dept know how much a client made/lost that year? so if a client has more than one broker …all have to send separately to income tax dept?
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