No, FA doesnt apply, I am 100% sure…
Any updates ?? I have told same thing so many times sir, these profits are booked in June 2026 and need to be reported in the Income Tax Returns that I will file next year. Can you OR someone in your team please confirm my queries that I have asked for so many times ?
Now coming to my questions : I just have below 3 questions ::
- Why is there a difference in the amounts mentioned under Tax P&L [mentioned as 7.04L] and P&L which is correctly showing the Realised P&L as 9.95L.
- Second question is, if this is indeed a defect as identified by @BB789 that needs to be fixed in coming days ?
- Last question is what is the Tax Treatment for these gains - Tax needs to be paid on profit shown in which of the 2 statements ? Realised P&L amount of 9.95L OR Long Term Realised Profit (Debt) of 7.04L. This question assumes that current implementation on Zerodha Console is correct and it means that ideal response to my second question is - that this is not a defect and correct implementation.
Requesting your kind help to please clear my doubts. It would help me a lot.
Hi @Deepak_Sharma1
The summary figures in the Mutual Funds section of the Tax P&L UI are currently being revamped, and the numbers will be updated by the end of this week. In the meantime, please download the Tax P&L report and refer to the third sheet (Mutual Funds) for a detailed break-up of all mutual fund transactions, categorised as per their applicable tax treatment.
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Thanks so much @Ruchi_Porwal for the kind confirmation. So, hopefully this means that it was a bug that was caught and is being fixed right now. I am glad this was found now itself rather than too late, as it could have caused unnecessary complications in ITR filing for next year. I will wait for couple of weeks and revisit both the pages to confirm that same numbers are getting reflected there OR not. Will share my feedback once the fix is in place. Thanking you and all others in team in anticipation.
Regards,
DS