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1. Puneet Mehta   I Like It. |Report Abuse|  Link|February 13, 2021 9:47:34 PMReply
Looking at the Zerodha tax PnL report, the taxable profit show the entire value of the sale vs purchase difference including the brokerage and mandatory charges. Thus, the cost of purchase and sale is included in the taxable profit, resulting in a higher taxable profit. How is the PnL reported to the income tax department in this case? Also, given the latest ruling that the income from stock market will be auto-populated in the return, this will result in a far larger tax liability than the actual return.

Has anyone else noticed this anomaly?

All other trading platforms are deducting the charges from the profit before making the remaining amount taxable.