An important aspect of being an active trader is ensuring you file your taxes on time. But most traders ignore this and end up with notices. March 15th is the deadline for filing advanced taxes, and many traders think that it may be applicable to them. If you have an estimated tax liability of Rs 10,000 in the form of capital gains, then you have to pay advance taxes. Profits from F&O and intraday are considered business income, and you will have to estimate their profits for the entire financial year and pay the applicable advance taxes as per the four installments. BTW, we've made this easier for you with all the tax-ready reports on Console. If you're a trader, here's a quick guide by @Quicko_official on how to estimate and pay advanced taxes: zerodha.com/z-connect/upda…
@Nithin0dha @Quicko_official if we have advanced tax liability for current year, but have carry forward losses from prior year, how does it work? Do we still need to pay advanced tax by 15th?
@Nithin0dha Don't let tax deadlines catch you off guard! For active traders, filing taxes on time is crucial. Stay ahead of the game and avoid unnecessary notices by staying informed and organized.
@Nithin0dha @Nithin0dha Zerodha app is buggy. Resolve those.
@Nithin0dha @zerodhaonline console gives errors, doesn't record data properly, and later says mismatch in number of shares held. How does one know when did console DIDNT record a trade?
@Nithin0dha So retail investors need to audit accounts if income is primarily from capital gains in stocks?
@Nithin0dha Any Active traders if you left with any one after today's move , heed the March 15th deadline for filing advance taxes on capital gains and business income 😂😂😂
@Nithin0dha Dear @Quicko_official is Advance Tax is applicable for EQUITY STCG as well ??
@Nithin0dha Stay ahead of the game by keeping those tax deadlines in mind.. 👍🏻