Tax P&L statement showing Debt as Equity

Zerodha
1

I was going though my Zerodha Tax P&L and Noticed that Debt instruments like GSECs and Liquidcase are listed under the equity tab and the gains are computed like equity rather than a separate section for debt. this creates a lot of confusion when doing taxes and odds are, whatever tax prep software you use, will just treat these as equity and assume equity taxation on them. Could this be fixed?

2

Hey @Kiyoto_Kai, bifurcating equity and debt assets and a few minor changes are on our list in the tax P&L report.

3

Any ETA on this? I think I saw some post sometime last FY saying the same thing. It is a rather important thing for tax prep. Otherwise, the Tax P&L is basically useless.

4

We’re planning to go live with the changes perhaps by the end of Sept. The delay because, we want to get a few other changes along with this bifurcation added to the report.