Zerodha Part 2

[Zerodha]

Zerodha,

Is there a way to get total buy/ sell and profit/ loss statement from backoffice for AY 2012-2013 for tax purpose? Just the way we are getting it for 60 Day challenge. Such a data should cut a lot of work. Otherwise what is the method to get the total turnover and profit/loss. Dont tell me that we have to pull out this data from our daily contract note

yep, login to backoffice, to NSE FNO and PNL statement.. Make sure to change the year on the right top of the backoffice page to previous year, before you pull this..

 

[vikrit]

can you explain the red line with example........

for taxation we (means traders), use only settlement values for any contract irrespective of multiple trades happened in the period till expiry . here contract does not mean daily contract note. But the contract we trade.

As told by different CA's. And also my CA calculated turnover values based on above to fill in my return.


for ex. -

Sachin,

can you share after confirming from your CA what is correct way to calculate derivative turnover for IT purpose.

as i was told by CA we calculate net values of per contract for every scrip.
like -
for Crude oil contract CRUDEOIL 19JUL2012, after multiple trades, my net value for this contract is 10000 profit.
and for Copper contract COPPER 29JUN2012, after multiple trades, my net value for this contract is 5000 Loss.

then my turnover is 15000
and my P&L is 5000 Profit.

but after reading some replies and blog comments, i am confuse, so just to confirm please discuss with your CA whether this method is right, if not please share the correct method.

Sachin/Zerodha confirmed that their CA follow same method in this post

note - didn't trade in cash market, so not sure about that. but will ask and post.

 

[TraderRavi]

for taxation we (means traders), use only settlement values for any contract irrespective of multiple trades happened in the period till expiry . here contract does not mean daily contract note. But the contract we trade.

As told by different CA's. And also my CA calculated turnover values based on above to fill in my return.


Sachin/Zerodha confirmed that their CA follow same method in this post

note - didn't trade in cash market, so not sure about that. but will ask and post.

thanks vikrit if it is net per scrip, then its good as turnover will be low.:thumb:
otherwise its headache for scalper who take 100's of trades per day in same scrip.

 

[Zerodha]

Zerodha,

How the ORDERS placed from PRICE LADDER are treated, NRML or MIS?

I hope the answer is NORMAL.In that case why don't you have buttons like
BUY-NORMAL and BUY-MIS in place of BUY alone.The same case for SELL also.

When you right click on the price ladder values, you'll see an option called order entry, when you click on that, you can setup the type of order, MIS, NRML and save it. You can also choose the quantity and save.

After this everytime it will initiate what you have saved..

 

[pav]

there is no need to look for daily contract notes.

for taxation purpose we use only settlement values (profit/loss) for each script/contract.

pull out P&L report from back office, in that

turnover = Net Receivable + Net Payable

Profit/Loss = Net Receivable - Net Payable - (Brok.+TC+STT+SC+ST)

(here we take absolute values)

vikrit sir,
what is Net Receivable and Net Payable ?
is it profit= Net Receivable and loss=Net Payable ?


Thanks

 

[Zerodha]

How Section 44AD will affect everyone trading the markets - an authored article by Nithin Kamath on "The Hindu Business Line" , More on this is also available on Zconnect(http://www.zerodha.com/z-connect/blog/view/notice-under-section-139-9-possible-reason) ‪#‎Zerodha‬

http://www.thehindubusinessline.com...on-44ad-when-filing-return/article4960260.ece

 

[vikrit]

vikrit sir,
what is Net Receivable and Net Payable ?
is it profit= Net Receivable and loss=Net Payable ?


Thanks

Please don't use 'sir'

Positive settlement values = Net Receivable
Negative Settlement Values = Net Payable

in Zerodha P&L reports these figures are available separately,
for other broker's if these are not there,
then add all positive figures from P&L/net summary (contract wise) for Net Receivable and add all negative ones for Net Payable.

 

[Brill]

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[DataRam]

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How may we help you ?

 

[Brill]

Thanks. Wondering where all has gone. No posts yesterday!!!