What is the difference between absolute, indicative, and Tax P&L on Zerodha Q?

I am seeing different P&L’s on Q. What is the difference between these three P&L’s available?

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Let me explain with an example.

Assume you bought 1 share of Stock A at Rs 100 on March 1st.

The closing price on March 31st was Rs 120.

You sold the stock A on April 30th at Rs 200.

1. You bought at Rs 100 and you sold at Rs 200, so your profit is Rs 100.
2. But the question asked is, what is your profitability between April 1st to April 30th. So shouldn't you take the closing price of March 31st, and base your profitability on that? Basically show how much was your profit between April 1st to April 30th? So since March 31st closing price of Stock A was Rs 120, shouldn't your profitability be then Rs 80 (Rs 200 - Rs 120).

Ability to be able to calculate profitability in both the methods is important, so we decided to give both the options on Q, for the first time in India. Point 1 is called absolute P&L which calculates based on actual acquisition price, and Point 2 is called as indicative P&L which calculates based on previous day closing price of the P&L period being calculated of open position/holdings.

In a tax P&L after consulting with multiple CA's who are experts in this field, all equity is calculated using absolute P&L, and all F&O (equity F&O, currency F&O, commodity F&O) is calculated based on indicative.

Hopefully this clarifies.

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Dear Sir,

What is the usefulness of knowing the indicative P&L for Equity. This information is never asked for or required to be given to anybody/any authority.

Further, what is the difference between absolute P&L for equity and Tax P&L for equity for any given period? Should it not be exactly the same.

Thanks & Regards
Suresh Sajnani