How much shares are in one lot Reply. Check out below link to sheeh your own copy of Excel sheet:. Thanks, now i would like to know one more thing. I am in search of a strategy or research done by anyone which will give me this income. I am badly confused what should I do. But thats my point. Come on over and talk over with my web site.
Firstly it is important to understand the difference between Assessment Year AY and Financial Year FY. These notices have been a cause of concern of many and this post is to discuss on a possible reason for you receiving this notice. This was nifty option trading excel sheet a trader would have followed, but over the last few months since a lot of us received notices, we tried to dig into the possible reason behind this.
If you claim any expenditure like salary, rent, internet bill, conveyance, depreciation of computer or any other expense for your business of trading, keep copies of all such bills. Zerodha and TaxIQ have already sent a petition to the income tax department telling them about the inconvenience traders would face because of the amendment of this rule, hopefully good sense prevails.
Love playing poker, basketball, and guitar. A great support and help…. A great leadership quality… to help the customer…. Really Helped a lot. You definitely should especially if you have done any futures and options trading during the last year. So this way your loss will automatically reduce by how much you save taxes. The chances are low, but there is a possibility and can compound your losses based on how much turnover you have done.
If it is your first time, take the proofs that I have mentioned above and go to a CA and ask him to file your returns. Thanks, now i would like to know one more thing. Yes ritesh, it is compulsory to file your returns, remember that your PAN is mapped to your trading account, and every trade you execute is accounted for. You may not have trouble, but if there is trouble in the future, everything can come back to haunt you.
I should take my contract notes to CA and any other documents. As explained make a bank book on excel showing all credits and debits from your trading account and attach the bank statement as the proof. You can also show other expenses that you have incurred for trading like internet bill, electricity, computer depreciation, any services you have subscribed to and etc. You can add all these as you costs of running your business. Is my understanding right? I have done trading on full time basis since nov nov and I dont work anywhere and not salaried.
I have not made much profit but incurred a loss. Do Nifty option trading excel sheet need to get documents audited by CA. Please guide me across. How many years can i carry forward my loss? For an entrepreneur is it the same way the taxation occurs? So Nifty Jan, there would be a net buy and net sell value, this difference would be the settlement turnover… Like this add all the various Nifty future expiry contract and this would add to your total nifty future net turnover.
You have to apply same rule for different option contracts, etc… You can pull the PL report from the Zerodha Backoffice, will give you the turnover. At the bottom you will see Net receivable and net payable, add both these values, should give you turnover… Your chartered accountant might have a different way of calculation as there is not clear guideline on this. So be advised to consult him. I think all Indian traders should stop trading and become passive investors in MFs.
The brokerage industry must lobby hard against this nonsense rule. You cannot revise a return which has nifty option trading excel sheet invalid. I have some shares bought and sold and still holding some in my demat account. For taxation purpose, if I download the Trade Analysis for NSE equity, my day trading and cash transactions are showing together. Please help me in this regard. I am in the process of finalising my tax return. Can you please suggest if I should show my loss from commodity trading as speculative business loss or regular business loss.
You should show this as a business loss, there was a lot of question mark on this, but the FM clarified it this year. Excellent article with lots of insight. While filing revised return, one needs to mention the date of audit. One ambiguity arises here as the last date of audit for f. So even if one files revised return, with audit done, one incurs a oparty.ru views?
I guess the only option would be file a revised return as the other one would be considered as invalid. If you have a previous year loss, which you have declared, yes you can definitely carry forward and set off against this profit, again a loophole in the system. If filing return after getting the books of account audited as I have loss in FNOdo I need to have digital signature? As I think digital signature is mandatory for filing return for all the audited cases.
Yes digital signature is mandatory. Where can I get this report? Since you are pulling data from last financial year, you need to first change the financial year on the top right of the backoffice window. If you are not able to find, shoot an email to india oparty.ruwe will email yours for the last year to you. I have only downloaded a statement for last financial year.
Under NSE equity you will see an option called Account analysis, change the financial year and should be fixed. That report is super useful. Just one last question, what should I do with open delivery positions that got settled in next financial year? Can I show this as a loss and subsequently as profit while filing next years return or just extend the report till that date which settles all open deliveries?
For this year you can carry forward the delivery with this price as the reference to calculate this years profitability. Appreciate if you could clarify. Could you please clarify this as well? However I came to know that the same will qualify under Sec. Do i need to get the audit done? Can you put your question a little more clearly. Check this blog on taxation that we have put, explains the tax brackets.
I am a student and normally trade in Options only. In my client summary report on Back office at zerodha following details are shown:. This margin blocked is not considered for turnover and hence we use the settlement profits. When you buy an option first and if you hold the position to the next day, the premium amount gets debited from your trading account and when you sell the premium gets credited. You will not need to pay income tax, but you have to file your IT return. Pl search google for details.
Please see there is a difference between a business and an income being treated as business income. Probably derivative trading is not a business but its income shall be treated as business income There is no clarity on this and ideally what we need to follow is a path which is as close to being compliant.
During this AY I had not claimed any refund and the tax was deducted by my employer which was Rs. As per Form No. Kindly advice what is the further course of action available for me. This default on part of the employer, you will not be able to rectify now. But it is a common practice of the IT department to adjust the refund with any outstanding demands. Thanks for your reply. My employer commensurate with my earning salary had effected the TDS Rs. Even the Form No. Please publish a list of tax saving investment product, only summary with different lock in period.
Like Insurance, FD, Bond, Saving Certificate etc. Do I still need to get my books audited? I mean I do not have any profit. Is it still required to pay income tax on loss. Is it mandatory to show the losses in ITR form? If I do not show, will I get the notice? This much is penalty or what? Why one has to pay this even if he is in loss? Do you need your books audited? In the markets if you are an active trader, it is according to us a good practice to have your books audited from the start, but you can have a word with your CA on this as well.
I also have no income transaction whatsoever. Do I still need to audit my books of accounts to claim net loss against any future profit from the business? Nifty option trading excel sheet you Mayank, We are limiting our discussions here to trading in the markets only. Do speak to a CA about this. Any CAs here who can help me in having the audit of my trading account for the last year.
Also he has wrongly mentioned the lesser amount as loss. If any CAs here can help me pls. First I would like to thank you for helping out so many people. You are doing a great job. I am a CA Final student and I used to do trading in shares. I filed my returns for F. I also had other income. Assessee entering negative amount in gross profit or net profit. My loss was mentioned in Schedule BP. After this I received a demand notice in which my Business loss i.
I filed Rectification Request stating my current year business loss was not considered. HOWEVER, IN oparty.ru — B — TI, THE ASSESSEE HAS CLAIMED SET OFF OF CURRENT YEAR LOSS. IT IS SEEN THAT THE ASSESSEE HAS NOT. I am badly confused what should I do. Nowhere in IT notice anything like requirement of Audit is mentioned. Since its a case related to F. This is such a pain for traders having small turnover and losses. We are suffering for no reason, despite having losses we are made to do all this.
You cannot get the books audited now, so you will get a demand. But it depends on the demand you get, if it is a small one, I guess it will be best to pay it off, as this could be a lengthy process contesting with the local AO Assessing officer. Turnover is required only to ascertain if you need audit or not.
What I meant to say was that there could be a demand from the IT department. Thank you so much Nitinsaheb for relieving my worries. So, I would like to know that what would be the consequence of that incorrect return filed against sec. You can rectify the error and file the XML Again. Nithin Thx for your comment but i am not able to upload correct XML file again and i have made call IT dept through toll free number and he told me that u can not upload XML file again and IT department will evaluation the file and if there is any problem then they would ask for rectification through demand.
What does the mean? As you told that i can rectify the error and file the XML again. How would it possible???? You should be able to file after this. The process is completely system driven, so any mismatch plot bollinger bands in r wont accept. If you are not able to file within the time given in the Notice, then the It return filed will be rejected and you will have to file fresh returns which again can add up interest for delayed filing of any tax dues.
It is a weird regulation and we have put a petition to the IT department saying it is illogical, but until there is an amendment we will have to adhere. That means Books have to be kept for audit. This will be good news for all Intraday-Equity traders. No Intraday equity is still considered speculative and can be set off only against speculative profits.
First of all, Greatly Appreciate your efforts here in helping clients deal with this tax filing complications. This is the first time that i might have to pay additional tax outside TDS and would like to know how it would be paid to IT department? But if you intend to do this check out creating a HUF. Kindly provide few more clarifications. I would be consulting a CA also but I want to have my basic understandings right. Since I traded frequently my turnover would be about Rs.
Will it be financial trading system architecture. Pranay, firstly if you have a salary income, it cannot be adjusted with your business losses trading losses. I guess you will have to appoint someone to represent you who can get in touch with the assessing officer, it is best to use the CA itself who filed your returns. So best to consult a CA for this. Thanks for the quick reply nithin.
Total turnover is below Rs. It is understood that audit is compulsory to carry forward the intraday losses. Will be this speculative loss can be adjusted against the Delivery Profit in next year. She will not receive any notice from IT department. I think this is an extremely important information and should be communicated to all your clients. This will save at least some clients the headache and expenses of getting a tax audit.
Yes Raj, makes sense, I will probably put this up on the blog itself. I have one more request. Some of them will convert and become your clients. Prasanna, if these options trade were taken to hedge your long equity positions on NYSE, then it can be shown as business otherwise yeah you will have to show it as a speculative income. Other cases: If turnover or income has exceeded those limits in p. Note: Receipt should be from business or profession and not from the sale of fixed assets.
While calculating turnover for agents, consider only commission charges. To pay taxes books need not be audited, all you have to do is show all your income, reduce all your expenses and then pay taxes as per the slab you fall in. Intraday trading in equity is considered speculative and also as a business. My employer had deducted Rs. It has been observed that some interest calculation around Rs. Now, how can I filled up the form?
Will I fill up a revised return or original return? Please help me…and guide me the steps…. Yes Sudipta, you will have to rectify this defect and file your returns again within the stipulated date on the notice. This is called Rectifying. Best you meet a CA. To carry forward losses, you have to file taxes within stipulated time. My view on above matter is —.
In case of loss the income does not exceed maximum amount not chargeable to tax and hence audit is not required. When I filed ITR and got some positive amount in payable with that Payable amount balance I have submitted my ITR. Now I have two question. When I am salaried employee and my tax already has been deducted from source side, then how it could be possible payable comes as positive amount.
I can guess because of salary increment there are some amount need to pay. Does that resolve my issue. Take the gross sum of all of this as turnover in case of intraday forex remittance japan. Kindly suggest me what the issue is?? But you will not get the benefit of carry forwarding your losses. You can define your own nomenclature here.
Otherwise generally all positive turnover profits is shown under receipts, and all negative turnover losses are shown under purchases. Darsh, you have to rectify the return and file it again. You will then have to give him an explanation of this. Now, please advice us as how to proceed with the same. So the best option is file revised returns and also have the audit done. Now, the date you submit the revised returns will be considered as the date you filed your returns, so there might be a penalty for delayed filing.
Also best if you use a CA for this, they can ensure that everything is done right the first time itself. Hi NithinKeep up the good work going. The reason i m asking isin eod reports the option premium amount is usually clubbed with futures mtm and not shown separately with most brokers I am not able to calculate the turnover due to the option premium settlement values…. So it basically adds up absolute sum of all profits and losses of each individual trade you have taken, along with the sell value of options.
This is probably the most compliant way of declaring turnover. Does this requires tax audit report to be filed by CA? PK audit comes into question only if you are trading as a business. If you are investing nifty option trading excel sheet the markets, you just have capital gains. So how to react on second lntimation letter reminder. Can u pls help on this issue.
Do I still need an audit? Then nessary for me to audit my book. If you are not trading at Zerodha, you will have to download the tradebook onto excel and do this manually. Now, please clarify my situation with regard to Tax Audit. I have contacted few of CAs and every one had given me different opinion. You can show short term capital gain loss in your case under capital gains. Sreen, firstly when you mention intraday profit in brackets you have SCG i am assuming you mean short term capital gainsthis is wrong.
Intraday profit is speculative business income. All are very appealing, but a bit complex and scary… because starter like me are rarely used to that kind of Business ……… and only used to dabble with Shares now and then online……. Salaried Individual, not involved with any formal Business or Profession. I have kind of lost track of your question.
If you have only capital gains income, irrespective of what your turnover is, there is no need of audit. Here is the situation once again, may benefit other readers as well! Intraday Trades: Total Turnover Rs. Check our new module, and this post on ITR forms oparty.ru Sir. My guess is that there is TDS deducted but corresponding income not declared. Please suggest me some steps that i should follow. Though turn-over is more than Rs. In delivery I hold Rs. I am very much confused, pls.
Regards Check this module: oparty.ruexplains everything. Sir I am CA final student I was doing future intra day transaction in F. So the only option is to go meet the ITO. Below are the relevant particulars of my business section omitting my salary section. The turnover is only from part-time Futures and Options trading. Further I have claimed following expenses:. Will the taxman agree to me changing the claimed expense?
Best to go get your books audited and file revised returns. So no matter how the ITO treat — tax impact is NIL. Thanks very much for prompt reply. Best to consult a CA. Also check this: oparty.ru Sir. This query is regarding taxation nifty option trading excel sheet that has been introduced by Zerodha in Q. It is a great step forward for traders to simplify their tax obligations and congratulate Nitin and his team for this unique achievement. I have one request though on this. Currently the PL and turnover statements can be generated from Q system only from start of the financial year till date YTD.
Since my auditor asks for a similar report breakdown month wise and quarter wise for calculation of advance tax during the months of September, December and March, can i request for a similar feature to be provided soon on Q system? Anticipating an immediate and positive response on this. Thanks again for your wonderful services. Right here is the right webpage for anybody who wishes to find out about this topic. You realize a whole lot its almost hard to argue with you.
Wonderful stuff, just great! Check this module Sanjeev. Right now i am doing oparty.ru So can you please tell me how can i go for it? I made a hugh loss this year…. Check this module: oparty.ru. In this case, you will need an audit. It is nothing to be worried about, check the module. But thats my point. However as I was testing the new feature from my ID, I noticed a few errors in the report content as below.
When I use the option to choose and select the timeframe that I need ie. Irrespective whichever timeframe you choose it generates the same report mentioned above. This needs to be corrected. Since I also maintain the record of all my transactions on my PC discretely I was able to note the difference. The status remains same…. No updates have been provided. Does this mean this feature need not be incorporated? I counsulted My C. A he said There is no need to AuditBecause i came under tax liabilityBut I Will have To summit P and Land Balance Sheet as a proof.
You will have to get the audit done, and yeah file revised returns. Check the module, getting audit done is quite a simple task. Yes, if there is no tax liability, that would mean no need of an audit. Thanks for the great work. I must say the content here on the taxation and trading is more than the entire internet combined. My case is sort of funny. I am really not into stocks and trading. Do I have go get my audit done as well? I can very easily not do intra-day trading this year anymore and declare whatever profit as my taxable income?
Does my tax liability of these LTCG change in anyway since I may be seen as a trader? Thanks for the wonderful inputs and feedback. I am a salaried person but have been trading intra day aggressively. This is kind of a bad habit which has led to huge losses and very high turnover running into crores. I appeared before the AO and I was told that a questionnaire would be sent after March. I am worried about the scrutiny. Could nifty option trading excel sheet tell me as to what could be the possible implications of this scrutiny?
Thanks a lot for your support. It is best to consult a CA. Thanks a lot Nitin for your feedback. How could this work? Can you go through this module: oparty.ru. Explained everything in detail. I m in the same condition as u. And i nifty option trading excel sheet used no account case. But still i m worried about the scrutiny notice again. Also suggest you to go through this module: oparty.ru Sir. Profit and turnover breakdown.
Since you have no other income, and made a loss, there is no tax to be paid. No tax means, no audit requirement. Suggest you to go through this. Never ever trade in share market. Does it mean we need to file a return? Today, we are getting automated notices if IT department spots people trading, but not filing returns. Is this the correct response or is there any further chances to get the notices again for another reason? Your response is right. They might ask you to visit them and prove it.
Check this modulewhere we have explained everything that you need forex trading mentor know. Thanks your your reply. Just need one more clarification. Regarding the below statement —. Check this chapter to understand how turnover is supposed to be calculated, it is not trading turnover. Does it requires an audit? If yes, can we escape filing ITR as the income is less than taxable limit just to avoid the CA charges?
I have received notice from income tax for A. You are given an opportunity to respond and justify the basis on which you chose not to include these details. After your reply, a penalty if deemed necessary will be levied. I require one more clarification in terms of calculating option turnover specially for below point. Does it needs to be included only when the option is not squared off? Nishant, have explained about turnover in detail here: oparty.ru Hi Nitin.
Thanks for this post, really very usefull. I have a question. As per what I read in your postI am supposed to maintain books of account and get it audited by CA. Audit is not required if nifty option trading excel sheet have no other taxable income. Audit is nothing tough. However I made a loss of Rs. Do I need to do audit with a CA? If you have other taxable income, then yeah you will need an audit. You can check out our taxation module: oparty.ru. Go through the above module to know if you need an audit or not.
I am a salaried employee. Tax Payer has entered negative amount in gross profit or net profit in Sl. Assessee has claimed loss nifty option trading excel sheet the head profit and gains of business or profession, however he has to fill Balance sheet and Profit and Loss account. Please guide me about what to do now.
What are the documents that need to be submitted to the AO for this purpose. Best to show them ledger first. Plz let me know whether nifty option trading excel sheet r a bussiness man or salaried person and did u declared ur trading activity in itr I am salaried. I have declared my trading activity. I was in small profit but with deductions of brokerage and other taxes it was net loss.
And when did u got oparty.ru it by post or e mail. And have u attended the ito City: Pune. Date is in september. Did u get a similar notice? If so how have you approached it? Till now i have not, but i m afraid that i may get…. Bcoz last yr i got one…. Now i am again afraid that i may get notice this year also….
For last year my assessment is over and it was a easy through process. It depends upon the AO. I would say dont go urself, just hire a CA……oparty.ru handle it easily…. And plz stop this f…oparty.ru share trading…. Have u done intraday trading also and wat is the concern relating to sales turnover. None of the trades were profitable. All the purchased Options during the FY were sold at a loss. For this, will I have to get the thing audited from the CA or I can just file a normal return?
Kindly let me know. Gaurav, the IT department would have gotten the trade files from the exchange, they would have calculated contract turnover. You have to give them an explanation on your correct turnover and trading ledger. I am a newly joined trader and now slowly doing trading on zerodha platform. I need your clarification on the following:. This blog is very educative and deserves oparty.rur need your advice on the following.
For all speculative transactions, aggregate or absolute sum of both positive and negative differences from trades is to be considered as a turnover. So you have to refile. How to arrive BUY or SELL value of individual transactions. Ganesan I have explained this in detail in the taxation module on Varsity. I have claimed the same in my ITR with trade details as well as Portfolio PnL statement.
I microsoft stock options no other business income. There might be a mistake in the way you have filled the ITR. Best to meet a CA and get him correct the Nifty option trading excel sheet. Thanks to your reply. I would like to add that I am a salaried employee and paying taxes as applicable.
My loss in FNO was from a side activity. Check this module: oparty.ru Thanks Nitthin for your kind support. As I am new to this auditing activity, can you pl guide what kind of documents I need from my broker for audit purpose. Can you check this module: oparty.ru. Yourself and Zerodha team are doing a great service to trader and investor community and lot of them really appreciate it.
Please consider submitting the petition again along with other interested parties as this will immensely help the small traders doing derivatives trading. Can you let me know which values are missing? Negative values are not allowed in Sr. I have added Salary in only Part B-TI TTI. That is exactly how I had filed the return. Now i want to tell you that, is there any remedy for my income tax return filed. Charting, Coding and Backtesting.
Zerodha Trader — Charting. Zerodha Trader- Software Version. Zerodha in News — Headlines. Zerodha in News — Quotes. Category: Taxation for TradersTrending. What does maintaining books mean? What does get your books audited by a CA mean? It could be as simple as keeping an Excel sheet:. Books Audited by a CA:. Taxation Simplified Z-Connect by Zerodha says:.
Sudipta Kr Ghosal says:. Zerodha — your tax aide while you tradeZ-Connect by Zerodha Z-Connect by Zerodha says:. Click here to cancel reply. Mail will not be published required.
Excel Crop Care Share Price, NSE/BSE Live Stock Price & Company Profile
Theoretically an option is exercised means, that the buyer of an option has exercised his right to take/give delivery of the underlying based on if it is calls or.
When to short sell Nifty options, how much margin required to short sell Nifty Option. By Bhaveek Patel 3 Comments.
Comments PeterFebruary 2017 at Hi Luciano, 1) The spreadsheet here calculates the option greeks. In the Excel formula OTW_BlackSholes() just.