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Hi,

Is there a simple and easy to use accounting tool where our transactions can be logged easly.
And help us to see the real picture to profit/loss. And help maintain P/L account which can be used in ITR filling .

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Trading Q&A by Zerodha by @shravan40 Shravan Kumar Gond - 59m ago

As per my understanding, it will be executed in at least 10 trades.

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Trading Q&A by Zerodha by @shravan40 Shravan Kumar Gond - 59m ago

Speculative Business Income - Trading in Equity cash.
Non-Speculative Business Income - All Future & Option positions along with Investment in Equity and Mutual funds.

Note : Speculative (Intraday equity) loss can’t be offset with non-speculative (F&O) gains, but speculative gains can be offset with non-speculative losses.

Gaurav_Sethi:

Qus : Should I add Fd income to short term profit for total income?

You should come up with net income only after offsetting all applicable P&L.

Gaurav_Sethi:

Qus : Can i subtract F&O LOSS FROM it?

Yes, you can offset F&O loss from Short Term Delivery and FD Interest.

Gaurav_Sethi:

Qus : Total turn over for all types of trades is 79 lakhs. Which ITR should I fill?

I.T.R - 3

Gaurav_Sethi:

Qus : Is audit requiered?

Yes, Audit is required in your case.

Gaurav_Sethi:

Qus : Can I also show only short term gain and pay tax to avoid audit

In order to avoid audit, you have to pay tax on 6% part of total turnover.

Gaurav_Sethi:

Qus : Is it legal to avoid audit in case of FO loss and not show loss in ITR.

If you are filling return properly and paying tax as per income tax rule, it is okay.

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I was comparing the retirement funds and landed here.

My question is:-
If your existing ELSS, EPF, insurance .etc. have already taken care of Rs 1.5L tax exemptions, would investment in Tata Retirement Fund (doesn’t help you save tax) be a good choice compared to HDFC Retirement Savings Plan (helps you save tax too)?

Basically, you’re not looking for a retirement fund for it’s tax saving capability, as it is already been done with other ELSS investments. You are primarily looking for wealth creation for the sunset years your life.

What do you think?

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someone please answer this query !

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is it required to file income tax return if the business income from trading is less than 2.5 lakhs. If yes which itr to file for this.

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I think fractional units are not shown here. You can login to CDSL to know the exact amount in your account. The number in Kite is always an integer.

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Wait, what? I thought that the complete order was filled in a single turn only the quantity wasn’t shown. So basically if someone uses disclosed quantity, as in the example above, 10k shares will first be bought & this will happen 10 times to complete 100k shares purchase?

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Do I need to file ITR if I my income from Salary is less than 2.5L. I have short term capital gain by selling shares. Including that, my taxable income is less than 2.5L. So Do i need?

please help? @nithin

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Trading Q&A by Zerodha by @pankajloya712 Pankaj Loya - 2h ago

Thanks a lot for info…
But even in buy case why to bring in full money as we need to pay only if at expiry day before 3.29pm 1)we are unable to close position and
2) even if we fail/Default there is a penalty provisions…
3) there is a privision w.r.t holder to decide wheather to exercise or not then why to do all these stuff i really dnt understand…
.
Instead of getting beneficial to retail trader (Dreaming to be HNI aftr its hard work) it seems going against.
.
And yes what SEBI wants is to bring indian markets in line with global practices then
I have some Question who will ans this

  1. in india after GIFT city getting developed mkts got divided i) in gift city there is cash settlement make physical there as well ii) STT and many other taxes are exempt there do the same here as well…
    Why same matket is divided in this manner
    Is yhis a global practice that one type of participant will get this kinda contract and other(BIG PLAYERS) will get diff kinda contracts…???
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