Trading report from zerodha

#1

I am eligible to audit , in console page there are two reports mentioned - one is download tax P/L for all segments and other is mentioned as download trade wise tax P/L for all segments . Which one to use.
@MohitBangalore

#2

Your auditor might need the tax P/L statements as well as the trade-wise tax P/L. It would be a good idea to download both and give it to your auditor. He may also require your ledger statement. Cheers.

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#3

Ledger statements for what? He had only asked me to give brokers note i.e p/l details for all accounts and my bank details for audit .
It is his first audit regarding trading.

#4

Lets say you transferred Rs. 10,000 to your trading account. After you traded the entire year you made a profit of Rs. 500. You incurred charges of Rs. 10. At the end of the year, your ledger should reflect a balance of 10,490. In case you have not withdrawn this amount, the CA would want to know its reflecting in the ledger confirmation from your broker.

However, its up to the CA to decide if he wants the ledger or if he finds the other statements sufficient.

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#5

Okay thanks you mean to say for reconciliation he may need that information.
Thanks also since I traded with Multiple brokers he suggested to make different p/l for all brokers and then one consolidated profit and loss statement and balance sheet. It this treatment correct.

#6

Sure, you could do that. Cheers.

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#7

Thanks one more question, how to treat short option position at 31 March. Is their any provisioning to done for this.?
Thanks

#8

Why not take your own accountant from that thing really no matter what ? Are you with me here or not ? Do you seriously thinking about that matter or what ? Your accountant is much more knowledgable in that thing than most of us. After all there is support.

#9

You could do your accounting any way you decide to. If you are provisioning for open option contracts every year then you could keep doing the same. If due to the provisioning, however, your tax liability is lower then AMT provisions will kick in. Your tax liability will remain as it were before the provisioning. Do consult your accountant on this. :slight_smile:

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#10

@Prakhar_Agrawal, i have done my audited IT filing thro Quicko, link available in Console. they did good, seamless, not to worry about this and that. Charges also nominal. U can try that. All the best.

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