{"id":7188,"date":"2026-03-30T11:01:51","date_gmt":"2026-03-30T05:31:51","guid":{"rendered":"https:\/\/maxiomwealth.com\/blog\/?p=7188"},"modified":"2026-09-15T17:25:47","modified_gmt":"2026-09-15T11:55:47","slug":"zerodha-profit-loss-statement-guide","status":"publish","type":"post","link":"https:\/\/maxiomwealth.com\/blog\/zerodha-profit-loss-statement-guide\/","title":{"rendered":"P&#038;L Statement: How to Download and Understand It"},"content":{"rendered":"<p>If you invest or trade through a discount broker, your&nbsp;Profit and Loss (P&amp;L)&nbsp;statement is one of the most important financial documents you&#8217;ll use especially during tax season. It shows exactly how much you&#8217;ve earned or lost from your trades, along with all related charges. Yet, many<a href=\"https:\/\/maxiomwealth.com\/\"> investors<\/a> misread it and either overpay or underreport taxes.<\/p>\n<p>This guide explains&nbsp;how to download&nbsp;your P&amp;L report from your broker&#8217;s reports portal and&nbsp;how to interpret it correctly&nbsp;for tax filing.<\/p>\n<h2 class=\"wp-block-heading\" id=\"how-to-download-the-pl-report-from-your-broker\">How to Download the P&amp;L Report from Your Broker<\/h2>\n<p>Most discount brokers run a back-office or reports portal, separate from the trading terminal, that hosts all your statements. Follow these steps:<\/p>\n<ol class=\"wp-block-list\">\n<li>Log in to your broker&#8217;s reports portal using your client ID and password.<\/li>\n<li>From the left-hand menu, choose&nbsp;Reports &rarr; P&amp;L (Profit and Loss).<\/li>\n<li>Select the&nbsp;financial year&nbsp;(e.g., 2025&#8211;26) and the&nbsp;segment&nbsp;(Equity, F&amp;O, or Commodity).<\/li>\n<li>Click&nbsp;View&nbsp;to generate your statement.<\/li>\n<li>Use the&nbsp;download icon&nbsp;to export as a&nbsp;CSV&nbsp;(spreadsheet) or&nbsp;PDF.<\/li>\n<\/ol>\n<p>If you&#8217;re filing taxes, choose&nbsp;Tax P&amp;L, not the regular version, if your broker offers the distinction. The Tax P&amp;L automatically applies&nbsp;FIFO (First-In-First-Out)&nbsp;matching, categorizes your&nbsp;short-term and long-term gains, and itemizes&nbsp;charges and deductions.<\/p>\n<ul class=\"wp-block-list\">\n<li>Regular P&amp;L<strong>:<\/strong>&nbsp;Simple performance summary (for tracking).<\/li>\n<li>Tax P&amp;L<strong>:<\/strong>&nbsp;Detailed and tax-ready report (for filing your ITR).<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"sections-of-the-pl-statement\">Sections of the P&amp;L Statement<\/h2>\n<p>The P&amp;L report is organized into three main sections:<\/p>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<thead>\n<tr>\n<th class=\"has-text-align-left\" data-align=\"left\">Section<\/th>\n<th class=\"has-text-align-left\" data-align=\"left\">What It Shows<\/th>\n<th class=\"has-text-align-left\" data-align=\"left\">Tax Implication<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><strong>Realised P&amp;L<\/strong><\/td>\n<td>Profit or loss from&nbsp;<strong>completed (sold)<\/strong>&nbsp;positions<\/td>\n<td><strong>Taxable<\/strong>&nbsp;in the year of sale as STCG or LTCG<\/td>\n<\/tr>\n<tr>\n<td><strong>Unrealised P&amp;L<\/strong><\/td>\n<td>Profit or loss from&nbsp;<strong>open<\/strong>&nbsp;positions (still held)<\/td>\n<td><strong>Not taxable<\/strong>&nbsp;until the asset is sold<\/td>\n<\/tr>\n<tr>\n<td><strong>Charges &amp; Taxes<\/strong><\/td>\n<td>Brokerage, STT, exchange fees, GST, stamp duty, SEBI charges<\/td>\n<td><strong>Deductible<\/strong>&nbsp;while computing net capital gains<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<h2 class=\"wp-block-heading\" id=\"using-the-pl-statement-for-itr-filing\">Using the P&amp;L Statement for ITR Filing<\/h2>\n<p>The&nbsp;<strong>Tax P&amp;L<\/strong>&nbsp;most brokers provide neatly maps to sections in your income tax return:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Short-Term Capital Gains (STCG)<\/strong>&nbsp;&#8211; Section 111A\n<ul class=\"wp-block-list\">\n<li>For equity shares and equity mutual funds sold within one year.<\/li>\n<li>Taxed at&nbsp;<strong>20%<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Long-Term Capital Gains (LTCG)<\/strong>&nbsp;&#8211; Section 112A\n<ul class=\"wp-block-list\">\n<li>For equity held&nbsp;<strong>over 12 months<\/strong>.<\/li>\n<li>Taxed at&nbsp;<strong>12.5%<\/strong>&nbsp;on gains exceeding&nbsp;<strong>&#8377;1.25 lakh per year (as per FY 2024&#8211;25 amendment)<\/strong>.<\/li>\n<li>Most brokers&#8217; Tax P&amp;L reports automatically apply&nbsp;<strong>grandfathering<\/strong>&nbsp;for holdings purchased before&nbsp;<strong>31 Jan 2018<\/strong>.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Futures &amp; Options (F&amp;O)<\/strong>\n<ul class=\"wp-block-list\">\n<li>Treated as&nbsp;<strong>business income<\/strong>, not capital gains.<\/li>\n<li>Must be filed under&nbsp;<strong>ITR-3<\/strong>.<\/li>\n<li>Turnover is computed per&nbsp;<strong>ICAI guidelines<\/strong>.<\/li>\n<li>F&amp;O losses may be carried forward for&nbsp;<strong>eight years<\/strong>&nbsp;if filed before the due date.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>Before filing, always&nbsp;<strong>cross-check<\/strong>&nbsp;your Tax P&amp;L data with:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Tradebook (contract notes)<\/strong><\/li>\n<li><strong>Form 26AS or AIS<\/strong>&nbsp;(to ensure all transactions and STT match)<\/li>\n<\/ul>\n<h2 class=\"wp-block-heading\" id=\"common-mistakes-to-avoid\">Common Mistakes to Avoid<\/h2>\n<p>Investors frequently make the following errors while filing returns:<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Mixing realised and unrealised profits:<\/strong>&nbsp;Only realised gains should be reported.<\/li>\n<li><strong>Ignoring transaction charges:<\/strong>&nbsp;Since these are deductible expenses, missing them inflates your taxable gain.<\/li>\n<li><strong>Mismatch with Form 26AS\/AIS:<\/strong>&nbsp;Differences in STT values can indicate incomplete reporting.<\/li>\n<li><strong>Using the wrong ITR form:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>ITR-2<\/strong>&nbsp;&rarr; For capital gains (equity investments only).<\/li>\n<li><strong>ITR-3<\/strong>&nbsp;&rarr; For business or F&amp;O income.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Omitting intraday trades:<\/strong>&nbsp;These are treated as&nbsp;<strong>speculative business income<\/strong>, not capital gains. Report them separately under ITR-3.<\/li>\n<\/ul>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<h2 class=\"wp-block-heading\" id=\"tax-pl-vs-regular-pl\">Tax P&amp;L vs Regular P&amp;L<\/h2>\n<figure class=\"wp-block-table\">\n<table class=\"has-fixed-layout\">\n<thead>\n<tr>\n<th class=\"has-text-align-left\" data-align=\"left\">Feature<\/th>\n<th class=\"has-text-align-left\" data-align=\"left\">Regular P&amp;L<\/th>\n<th class=\"has-text-align-left\" data-align=\"left\">Tax P&amp;L<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>FIFO trade matching<\/td>\n<td>No<\/td>\n<td>Yes<\/td>\n<\/tr>\n<tr>\n<td>Short-term\/long-term split<\/td>\n<td>No<\/td>\n<td>Yes<\/td>\n<\/tr>\n<tr>\n<td>Charges breakdown<\/td>\n<td>Basic summary<\/td>\n<td>Detailed, per trade<\/td>\n<\/tr>\n<tr>\n<td>Grandfathering (pre-2018)<\/td>\n<td>No<\/td>\n<td>Yes<\/td>\n<\/tr>\n<tr>\n<td>Best used for<\/td>\n<td>Performance tracking<\/td>\n<td>Tax filing<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\n<p>In short: use&nbsp;<strong>Regular P&amp;L<\/strong>&nbsp;for portfolio tracking, but&nbsp;<strong>Tax P&amp;L<\/strong>&nbsp;for your Chartered Accountant and ITR filing.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<h2 class=\"wp-block-heading\" id=\"frequently-asked-questions\">Frequently Asked Questions<\/h2>\n<p><strong>1. When is the Tax P&amp;L report available?<\/strong><br \/>Most brokers release the Tax P&amp;L by&nbsp;<strong>mid-April<\/strong>, soon after the financial year ends on March 31. You can also generate a&nbsp;<strong>provisional P&amp;L<\/strong>&nbsp;anytime during the year on most platforms.<\/p>\n<p><strong>2. Does the P&amp;L include dividend income?<\/strong><br \/>No. Dividends are directly credited to your bank and must be declared separately under&nbsp;<strong>&#8216;Income from Other Sources&#8217;<\/strong>. Use your&nbsp;<strong>bank statement<\/strong>&nbsp;or&nbsp;<strong>AIS<\/strong>&nbsp;for dividend details.<\/p>\n<p><strong>3. What about mutual funds?<\/strong><br \/>Mutual fund P&amp;L is&nbsp;usually not part of a broker&#8217;s equity Tax P&amp;L. Get your capital gains statement from&nbsp;MFCentral&nbsp;or your AMC&#8217;s portal (via its Registrar and Transfer Agent, or RTA).<\/p>\n<p><strong>4. Can losses be carried forward?<\/strong><br \/>Yes.<\/p>\n<ul class=\"wp-block-list\">\n<li><strong>Short-term losses<\/strong>&nbsp;&rarr; Set off against STCG or LTCG.<\/li>\n<li><strong>Long-term losses<\/strong>&nbsp;&rarr; Set off only against LTCG.<br \/>Unutilized losses can be carried forward&nbsp;<strong>up to 8 assessment years<\/strong>&nbsp;(if the ITR is filed before the due date).<\/li>\n<\/ul>\n<p><strong>5. Is a broker&#8217;s Tax P&amp;L recognized by the Income Tax Department?<\/strong><br \/>While the report isn&#8217;t a government-issued document, it&#8217;s generally an accurate and accepted basis for calculating your taxable gains. Your CA or tax-filing software can directly use these numbers. The&nbsp;<strong>final reference<\/strong>, however, remains your&nbsp;<strong>contract notes and AIS\/Form 26AS<\/strong>.<\/p>\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<h2 class=\"wp-block-heading\" id=\"key-takeaways\">Key Takeaways<\/h2>\n<ul class=\"wp-block-list\">\n<li><strong>Use the Tax P&amp;L<\/strong>&nbsp;report for ITR, not the Regular one.<\/li>\n<li><strong>Only realised gains are taxable<\/strong> unrealised profits don&#8217;t count.<\/li>\n<li><strong>Charges reduce taxable gains<\/strong>, so ensure they&#8217;re included.<\/li>\n<li><strong>F&amp;O and intraday trades<\/strong>&nbsp;require&nbsp;<strong>ITR-3<\/strong>.<\/li>\n<li>Always&nbsp;<strong>reconcile Tax P&amp;L with Form 26AS\/AIS<\/strong>&nbsp;before filing.<\/li>\n<\/ul>\n<p>By understanding your P&amp;L statement and using the correct ITR, you can file confidently, avoid unnecessary taxes, and maintain clean investment records. <\/p>\n<p><strong><a href=\"\/resources\/calculators\/sip\">Track your investment growth with our SIP Calculator &rarr;<\/a><\/strong><\/p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you invest or trade through a discount broker, your&nbsp;Profit and Loss (P&amp;L)&nbsp;statement is one of the most important financial documents you&#8217;ll use especially during tax season. It shows exactly how much you&#8217;ve earned or lost from your trades, along with all related charges. Yet, many investors misread it and either overpay or underreport taxes.&hellip;&nbsp;<a href=\"https:\/\/maxiomwealth.com\/blog\/zerodha-profit-loss-statement-guide\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">P&#038;L Statement: How to Download and Understand It<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":7251,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7188","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing-fundamentals-mutual-funds-guide"],"_links":{"self":[{"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/posts\/7188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/comments?post=7188"}],"version-history":[{"count":5,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/posts\/7188\/revisions"}],"predecessor-version":[{"id":8426,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/posts\/7188\/revisions\/8426"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/media\/7251"}],"wp:attachment":[{"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/media?parent=7188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/categories?post=7188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/maxiomwealth.com\/blog\/wp-json\/wp\/v2\/tags?post=7188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}