Newbie query about tax

Newbie query about tax

I will start trading in December. I know analysis but have never actually bought and sold stocks. Most likely I will buy 30 shares of a blue chip to know how to buy.

I will sell 20 shares after 15 days to understand selling process.

Then I will repeat it few times to get the hang of it before I start seriously from April.

Query – there will be trading charges, fees, and STT.

But do I have to keep an account?

Bought X shares INR 45,000

Bought Y shares INR 30,000

Sold 30% of X for INR 12,000

Loss ..

STT ..

Net Gain/Loss ..

Or does a platform like Zerodha generate automated P/L account for tax filing?

View on r/IndianStreetBets by clove_cal

  1. Hi, /u/clove_cal! Welcome to /r/IndianStreetBets!

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  2. Your broker will issue a contract note at the end of every day which will have a record of your transactions for the day along with charges and taxes. Save and maintain the contract note files since you might need them in future.

    Most online brokers will also show you your net gain/loss through their online dashboards.

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