i am a new trader and started trading in july 2018 . i bought shares, took delivery and sold at a low profit ( noobie mistake) , all good till now, but problem arrises when i went to my CA for filing income tax . my ca says he wants every buy and sold date and rate of every stock in order to file the itr. can someone help me with this. is their any simpler way to file tax for short term trades. may be enter the average sell of buy or with turnover. i dont want to get a notice for trading. please help
Firstly check this module to know everything on taxation
If you are trading with us at Zerodha, go to https://console.zerodha.com/ and check for tax P&L report under reports. It has everything u need to file your ITR.
hey nithin, thanks for the helpful link, i read it completely and now i know i am a trader as well as investor. as i have some intraday trades and some short term trades(delivery taken) and as of now i am holding some shares as well. the problem i am having is that CA wants details of every txn, i have provided him with all the possible reports zerodha has generated for its clients. but he says he want the dates as all the entries are to be done by entering the date on which the txn took place.
basically it comes down to which entries are to be filled in itr form. is it the (1) each buy and sell detail of every share or it is the (2) average buy - sell value of every share or it is (3) the total txn value of buy and sell which is to be entered.
your help will be appreciated. thank you
Its Consolidated Numbers are filled in the ITR than every transaction.
On the ITR like @TAXIQ.IN mentioned, it is consolidated number. You just mention what is total LTCG, Total STCG, etc
In your case it really should be that simple, just use that total number of everything and probably there are even software for such taxation, your CA should really obtain it since you want to trade much faster anyway, correct ? I do hope and realise it is.