How to Download the Zerodha Tax P&L Report
Log in to Console (console.zerodha.com) → Reports → Tax P&L. Select the financial year and click Download. The file downloads as a multi-sheet Excel workbook (.xlsx).
Note: The Tax P&L report is different from the Tradebook report. The Tax P&L applies FIFO cost accounting and calculates realized P&L per lot — it is specifically designed for ITR filing.
The Three Sheets in the Zerodha Tax P&L File
Sheet 1: Tradewise Exits from [Date]
This is the most important sheet. It lists every FIFO-matched buy-sell lot — one row per matched lot, not per trade.
Key columns:
- Symbol: Stock ticker (e.g., RELIANCE, HDFCBANK)
- ISIN: International Securities Identification Number — needed for Schedule 112A in ITR-2
- Entry Date / Exit Date: Buy and sell dates for this lot
- Quantity: Units sold in this matched lot
- Buy Value: Total cost of this lot at purchase (quantity × average buy price)
- Sell Value: Total proceeds from this lot (quantity × sell price)
- Period of Holding (days): Days between entry and exit — use this to classify STCG vs LTCG (≤365 = STCG, >365 = LTCG)
- Fair Market Value: FMV as on 31 January 2018 (for grandfathering calculation)
- Taxable Profit: Profit after applying grandfathering — this is the figure to use in ITR
- Turnover: Used for F&O turnover calculation
Important: The Taxable Profit column is the gross P&L before charges. Charges (brokerage, STT, etc.) are shown in the Equity sheet, not at the lot level. Do not double-deduct charges.
Sheet 2: Equity (or "Equity and Non Equity" in newer files)
This sheet serves two purposes:
a) Charges table: Aggregate brokerage, STT, SEBI fees, stamp duty, and GST for the year. These are account-level totals, not broken down per trade.
For ITR purposes: deduct brokerage, SEBI fees, stamp duty, and GST from capital gains. Do not deduct STT from capital gains — it is only deductible for F&O income.
b) Section summaries: Three sub-tables — Intraday, Short Term, Long Term — each listing symbol-level sell values. These are useful for cross-checking against the Tradewise Exits sheet.
Sheet 3: Mutual Funds
Lists mutual fund redemptions, broken into:
- Short Term Trades Equity: Equity MF units held ≤1 year
- Long Term Trades Equity: Equity MF units held >1 year
- Short Term Trades Debt: Debt MF units held ≤1 year
- Long Term Trades Debt: Debt MF units held >1 year (only relevant for pre-April 2023 purchases)
- Debt - Purchases post 2023: Always STCG at slab rate (Finance Act 2023 change)
Columns: Symbol | Quantity | Buy Value | Sell Value | Realized P&L
Common Confusion Points
"The Taxable Profit doesn't match what I calculated"
Check whether Zerodha applied grandfathering. If a client bought shares before 31 January 2018, Zerodha uses the FMV column to adjust the cost basis. The Taxable Profit will be lower than (Sell Value − Buy Value) in such cases.
"The charges in the Equity sheet seem higher than expected"
The Equity sheet shows total charges for the entire year, including charges on intraday trades. If your client does both intraday and delivery trades, the charges need to be split between speculative business income (intraday) and capital gains (delivery) in proportion to their turnover or sell value.
"There's a sheet called 'F&O' but I don't see individual trades"
In some Zerodha files (especially for clients with fewer trades), F&O data may appear inline in the Equity sheet with section headers like "Futures" and "Options". In other files, there is a dedicated F&O sheet.
"Mutual Fund data is missing"
Zerodha only includes mutual fund data in the Tax P&L if the client transacts through Coin (Zerodha's MF platform). MF transactions done directly with AMCs or through other platforms won't appear here.
Reconciling Zerodha Data with Form 26AS / AIS
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The AIS now shows capital gains as reported by depositories (NSDL/CDSL) to the IT department. Before filing, reconcile:
- Total sale consideration in Zerodha Tax P&L vs AIS capital gains section
- Total STT paid in Zerodha vs AIS STT section
- Dividend received vs AIS dividend section (not in P&L, but a common mismatch)
Minor differences (< ₹100) due to rounding are generally acceptable. Larger differences need to be investigated — usually caused by corporate actions (bonus, splits, rights) not reflected correctly in the broker's FIFO calculation.
Using the Zerodha Report with FirstReports
FirstReports accepts the Zerodha Tax P&L file directly. Upload it, and the platform automatically parses all three sheets, classifies each trade as STCG/LTCG/Intraday/F&O/MF, and merges it with data from other brokers your client uses. The consolidated output is formatted for direct entry into ITR Schedule CG and Schedule 112A.
Frequently Asked Questions
Where do I download the Zerodha Tax P&L statement?
Log in to console.zerodha.com → click the Q icon (top right) → P&L → set the date range to 01-Apr-2025 to 31-Mar-2026 → Download. The file downloads as Excel or CSV.
What does the "Taxable P&L" column in Zerodha mean?
The Taxable P&L is the net gain or loss after subtracting the cost of acquisition (FIFO-matched) and applicable charges from the sale consideration. For LTCG, Zerodha already applies the grandfathering provision (FMV on 31 Jan 2018) — the Taxable P&L column reflects the post-grandfathering gain.
How do I identify STCG vs LTCG in the Zerodha P&L?
Zerodha classifies each scrip by holding period automatically. Short-term trades (held ≤ 12 months) appear in the STCG section; long-term trades (held > 12 months) appear in the LTCG section. Check the "Days Held" column to verify the classification for any individual lot.
Does the Zerodha Tax P&L include F&O income?
Yes. The Zerodha Tax P&L includes separate sections for equity delivery (STCG/LTCG), intraday equity (speculative income), F&O (non-speculative business income), and commodity. Do not add the F&O P&L to Schedule CG — it belongs in Schedule BP of ITR-3.
Why might my Zerodha P&L differ from the AIS?
The AIS captures securities transactions as reported by CDSL/NSDL using the settlement date, while Zerodha reports by trade date. Additionally, the AIS shows gross sale consideration, whereas the Zerodha P&L nets out brokerage and charges. These differences are normal — use the Zerodha P&L for the ITR figures and file AIS feedback if there is a material discrepancy.
Can I use the Zerodha P&L directly to fill Schedule CG?
Yes, for Zerodha-only trades. Use the STCG total from the Zerodha P&L for Schedule CG Part B(1) and the LTCG total for Part B(3). For Schedule 112A (scrip-wise LTCG details), use the individual lot data from the Zerodha P&L report. If your client also trades on other brokers, consolidate all P&L data first before filling Schedule CG.
Related Reading
- How to Calculate STCG and LTCG for ITR-2 — computing tax from the Zerodha data
- How to Prepare an Equity P&L Consolidated Statement — merging Zerodha with other brokers
- Capital Loss Set-Off and Carry Forward Rules — applying losses from the Tradewise Exits sheet
- Section 87A Rebate and Capital Gains — how STCG/LTCG from the report affect tax liability
- F&O Tax Treatment in India — reading the F&O sheet in the Zerodha report
- Download guides for all major Indian brokers →