Capital Gains Tax P&L on Quicko

I have capital gains in zerodha.
When and where do I have to pay taxes for that.
While filling ITR? (i.e after 31st March or before that)

Hi @Jitendra_Kumar,

You should calculate your advance tax liability for the financial year. If your income tax liability is above INR 10,000, you need to pay your advance tax. 15th March 2021 is the last date to pay your advance tax for the FY 2020-21.

Since you have Capital Gains income, you need to file ITR 2. The sue date for the same is 31st July 2021.

You can also use this tool to determine, which ITR form to file.

Thank you for the reply
I have 1 more doubt :
When calculating capital gains can i subtract brokerage or Exchange Transaction Charges or anything else that will reduce capital gains tax?

@Jitendra_Kumar,

You cannot claim brokerage expenses or other such charges from your capital gains. But, you can still claim transfer expenses such as stamp duty from your capital gains.
However, if you do intraday or F&O trading which is treated as business income for Income Tax purposes, you can claim the following expenses.

No financial transactions are reflected in my CAMS statement.

Hi @Aditya_s ,

CAMS will include only the folios with financial transactions. If in case any of your folios missing in the myCAMS login, please ensure that your email id is updated in all your Mutual Fund investments serviced by CAMS.

When I try to upload the Karvy capital gain statement in Quicko while filing the ITR, I get “Unable to read Capital Gains Statement” error
Can you please fix this?

One more question, why do we have “Quantity” field mandatory for Equity Mutual Fund? It is NA for mutual fund so please make it optional

@Aakash_L can you help with this?

Hey @Abhijit_G ,

Could you send us your Karvy statement for FY20-21 at help@quicko.com so we can look at the upload issue?

WHY there is no option to upload CAMS data ?

Hey @Javed19, we are working on the same and will be released in the coming week. Stay tuned! :rocket:

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I hope this become active enough before the due date of filing ITR.

I don’t see any support for CAMS data upload, please let us know when this will be supported.

Hey @Abdul_Raquib, you can check out the response to your query at - Importing Trading Data from CAMS - #2 by Abdul_Raquib

I have 1lac LTCG tax gain in TCS, now to save tax I will need to sell TCS and buy back it, can this be done the same day or after selling I have to wait and buy it back the next day?
thanks

@hiren_parekh

LTCG upto 1 lakh is exempt from tax. Still you can sell and buy on the same day without waiting for the next day.

Hope this helps!

I saw in Quicko an option wherein a Zerodha user can login via Kite and his TaxPnL is auto-populated by the click of a button and his annual STCG and LTCGs are calculated from his trades on Zerodha trading platform.

I was wondering whether the transactions done in Coin by Zerodha would also be tracked and its Gains/Losses would be also considered for annual STCG and LTCG during filing of returns?
Is there a feature like that in Quicko presently?

Hey @Aby_Math ,

When you login via Kite onto Zerodha, your entire tax P&L figures are auto-populated. This means that your mutual funds P&L is also picked up from Coin. Login via kite gives access to Console which means that your mutual funds trade data via Coin is picked up as well and LTCG/STCG is shown on Quicko accordingly for filing of returns.

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Thank you for your time @Aakash_L .