The less time you spend figuring out your statements, the better.
One of the reasons filing takes time is the constant back-and-forth with your accountant. Zerodha ’s Tax P&L reports were already largely tax-ready, but over the last few months, we’ve spent quite a bit of time making them even better.
Btw, historically, brokers didn’t really provide good tax statements, which made filing taxes on trading and investing a pain in the ***. Around 2013, we realised that this could be a significant value-add for customers, and we became the first broker to offer a dedicated Tax P&L statement.
We also created a dedicated Zerodha Varsity module on taxation related to trading and investing to make customers’ lives a little easier.
Taxation on market activity has changed significantly since then and has only become more complicated. Our tax reports account for these changes, so you don’t have to worry about figuring everything out yourself.
Some new things we’ve added recently:
The Trade-wise Entry/Exit and Equity sheets now classify investments as equity, non-equity, and debt ETFs.
Short-term and long-term capital gains from non-equity transactions are now shown separately.
Dividend income now comes with a quarter-wise breakup, while interest received from debt securities is available in a dedicated Debt Interest Statement along with dividends.
You can now download quarterly Tax P&L reports aligned with advance-tax due dates.
The Tax P&L page now also includes a summary of profits and losses from non-equity transactions.
So, you can now pretty much download the reports and send them directly to your CA without worrying that something important might be missing.
You can also check out @Quicko in case you need help.
