A tax P&L visualizes your tax liability under the income heads of Capital gains and Business Income arising from shares and securities transactions. 


1. Capital Gains cover gain or loss from the selling of equity shares (except intraday transactions), Mutual Funds (MF), Restricted Stock Units (RSU), Equity Traded Funds (ETFs), and Employee Stock Option Plans (ESOPs).

2. Business Income covers Equity Intraday transactions, Futures, and Options (FnO).



Table of Content

  1. Steps to download the Tax P/L Summary on Quicko
  2. Understanding Tax P&L Summary 



Steps to download the Tax P/L Summary on Quicko

  • Navigate to Planning > Tax P&L
  • On the top right corner, select the Financial year from the drop-down
  • Click on Download Report under P/L Summary 






Understanding Tax P&L Summary 


P&L Summary provides an aggregate of all the trading transactions done during the financial year.

Using the Tax P&L Report, the trader can determine his/her tax liability and applicability of the Tax Audit.


A Tax P&L report consists of 3 sections:

  1. Summary
  2. Glossary
  3. Broker Sheet



1. Summary: This section contains a summary of:

  1. Personal Details
  2. Profit and Loss
  3. Capital Gains and Business Income: Turnover and P&L


2. Glossary: This section contains a summary of:

  1. All charges & their terminologies
  2. For Intraday Trading, Short Term Trades, Long Term Trades, Mutual Funds: Equity and Debt, Futures & Options and Equity Dividends, section-wise breakdown of: 
    • Tax Treatment
    • Taxability
    • Deductions
    • Treatment of losses


3. Broker Sheet: This section contains a summary of: 

  1. All transactions including
    • User client ID
    • Total P/L
    • Capital Gain & Business income
  2. Separate transactions under Equity Intraday, Mutual Funds, Futures, Options, etc


Note: 
If you have imported trades from multiple brokers, a consolidated Tax P&L summary will be downloaded.