I have a doubt about the taxation of this in the first place.
I know FIFO is the law - but is everyone sure that FIFO is allowed PER DEMAT ACCOUNT (within the same PAN)?
I’m asking because I know traders who have multiple demat accounts (same PAN) with multiple brokers and take positions across them (due to margin availability, lower brokerage etc I guess) so PE can be with one and CE with another. And take FIFO across all brokers. So +100 profit in demat A, -90 in demat B, they pay tax on 10 only. But how is this allowed then?
Is there a clarified rule by IT department that for one PAN, FIFO applies demat account wise?
Could you please at least confirm what is cause the delay?
Is the feature development still on track?
Since I have waited for more than a year, I am starting to get nervous now…
If the feature is delayed, have been put on hold, or is dead for whatever reason, its okay…
Just give us something.
TBH, I have been holding off on opening a new non-Zerodha Dmat account (to separate my LT portfolio) in the anticipation that this feature will be launched soon.
If further visibility is not possible, for me, its as good as not releasing it at all.
I would rather move forward with an alternate plan. My relationship with Zerodha is good but its not good enough to keep waiting for forever!
Not sure whats right and also have not seen any decent commentary on the same from IT department.
IMHO, margin and holding are separate things.
In my experience, I have two dmats i.e.
Icici Dmat account (opened when I got out of collage 20 years ago).
Zerodha (I opened later in 2015ish)
Icici dmat only has very long term holdings. My icici dmat holdings and their average price has never changes even though I have bought, hold and disposed batch of same companies through zerodha multiple times.
What you are pondering makes sense but I hope its not true.
It would be very embarrassing for everyone here to ask for this feature and Zerodha to develop it. LOL.
@Chicco We’re currently testing the flow (onboarding, stock transfer, P&L etc). Once the critical bits are done, we’ll open it for everyone. I’ll update here.
