Zerodha shows the Equity and Debt Funt Profit or loss in single category however tax treamtment is different where Equity is @10% whereas Debt is @20% for older purchase and @30 for newer purcahse.
I believe they should show these profit differently in reports to avoid error.
It is the case for me as well. I guess that is the case for all. Their inability to handle such a simple calculation tells you all you need to know about them.
@Bhuvan @VenuMadhav I have downloaded the Tax P&L report for my account from console. In the excel sheet that is downloaded, I find that whatever I purchased in DEBT or GOLD as ETF is showing under the Equity tab of the excel sheet. GILT5YBEES (5 year Gilt ETF), GOLDBEES (Gold ETF), EBBETF0425 (BharatBond ETF) are all listed in the EQuity section and the cumulative short term and long term profits are adding all the direct stock shares and these debt and gold ETF’s as well.
The taxation for these different asset classes are different isnt it? Why is it that all these are clubbed in the same tab and a cumulative number is given for tax filing purposes? From what I understand, the auditors are taking the cumulative short term trade value and long term trade value and are calculating the tax liabilities, without knowing that the debt and gold ETF are also clubbed under Equity. Can you please give me some clarity?
Currently, we don’t have a separate sheet for Debt or Income from other sources in the Console Tax P&L report. We’re working on showing these separately and changes related to announcements made in the union budget 2024-25. Some of these should be live in the coming weeks.
Here’s the comparison of the previous and new capital gains structure by @Quicko
Thank you for your reply. Honestly, I was not aware that debt ETF and gold were pooled under equity. I was giving the cumulative values as my Long Term and short term profits. I wish I knew that we have to manually sift thru the list and pick out the debt ETF’s separately.
Hope we will get an announcement from you when this is implemented. Sincerely hope this happens before the next filing dates.
Are these done? I have sold the Debt fund this week and you have not added the condition for Debt fund purcahsed before 1st April 2023 which are considered as LTCG if hold more than 24months whereas your P&L is calculating 36months for this.
Please incorporate these changes asap. I have raised a ticket for the same. [#20250413931818]
Separate P&L for debt or “Income from other sources” is still not live. We’ll keep you updated once it is up.
