I booked 2L of loss on futures trading in 2025-26. However tax computation under business & profession shows positive taxable income of 25L. This is probably due to open positions on 31st March 2026.
Another error says that turnover should be greater than gross profit. Due to taxable income shown as 25L it appears bigger than turnover of 11L.
Information was added in Quicko by connecting with Zerodha.
Will you fix calculation so that closing position does not appear as income for that year?
Yes. Based on what you’ve described, there are a few possibilities.
For F&O trading, the taxable profit or loss is generally based on realized MTM/profit and loss, with year-end accounting adjustments depending on the accounting method followed. Merely having open futures positions on 31 March should not automatically result in ₹25 lakh of taxable income unless the software is applying a mark-to-market (MTM) valuation or some other year-end adjustment.
The fact pattern you described is a strong indication that something may be off:
Actual realized F&O result: Loss of about ₹2 lakh
Turnover: About ₹11 lakh
Business income shown:₹25 lakh
Validation error: “Turnover should be greater than gross profit.”
If the software is treating the value of open positions as income instead of applying the appropriate accounting treatment, then the business income can become artificially inflated. That would also explain why the reported profit exceeds the turnover, triggering the validation error.
However, there are a few things worth verifying before concluding it’s a software bug:
Whether the ₹25 lakh is coming from a closing stock/open position valuation entry.
Whether mark-to-market (MTM) adjustments have been imported from Zerodha.
Whether there are any duplicate contract entries or incorrect import mapping.
Whether Quicko is following a different accounting treatment for F&O than you expect.
If your realized P&L is indeed around a ₹2 lakh loss and there are no other business transactions, then a taxable business income of ₹25 lakh would generally not be expected.
I’d recommend checking the detailed computation or asking Quicko support to explain exactly how the ₹25 lakh has been derived. If it consists primarily of unrealized gains on open positions without the corresponding accounting treatment, they should review and correct the computation.
If you can share:
the Tax P&L / Business Computation screen,
the Zerodha Tax P&L report, and
the breakup showing how the ₹25 lakh is calculated,
I can help identify whether it’s an accounting adjustment, an import issue, or an actual computation bug.