We heard you, all those tweets didn’t get missed.
We are super excited to announce our partnership with Quicko.
As we know, Tax Compliance is a huge burden for retail investors and is a complicated procedure. Therefore, to educate our community and help them ease this process, we have partnered with Quicko to help the customers with income tax planning and filling.
Visualize your Tax P&L: With this partnership, investors and traders will be able to correctly classify their trades into capital gains, speculative & non-speculative business incomes; treat corporate actions such as dividends, buybacks & bonus issues, and optimize tax liability by offsetting current & brought forward losses.
In simple words, clients can view all the bifurcations of different incomes made in the stock market and their applicable taxes without any hassles, as displayed in the image below:
As you can see, all the incomes are bifurcated to provide you with an overview of all the data, including the P&L that would take you hours if done manually.
Compare tax Regimes: Compare the tax liability under both Old and New tax regimes and choose the one that fits you the best. Under the Old tax regime, you can claim the itemized deductions, whereas, under the New tax regime, you’ll have to let go of the itemized deductions but can take advantage of lower slab rates, compare and choose which one suits you the best.
Based on the incomes, deductions under section 80, tax credits, etc., your tax liability will be determined under the Old and New regimes. You can choose the regime under which you want to pay the taxes out of the two.
Calculate and Pay Advance Tax: If you are an investor or a trader, you would have incomes under the head capital gains or business & profession, and therefore, advance tax should be calculated and paid quarterly. This partnership allows users to accurately calculate and pay the Advance tax directly, taking into account all incomes, deductions, and tax breaks.
Once you’ve entered all the details, you must pay the Tax liability displayed under the 'Advance Tax' Tab on a quarterly.
File ITR instantly: Login using the FYERS credentials to directly import all your equity delivery, equity intraday, and F&O trades. Once the data is imported, you can view the capital gains, business incomes, set off, and carry forward losses to file for taxes. However, if you are salaried, have rental income, or other income sources, kindly fill in the details in the respective columns. You can also connect with the Income Tax Department (ITD) account to pre-fill your incomes, deductions, and tax credits. Once everything is in place, you can instantly review and e-file for taxes.
As displayed above, to file the income tax return, you can click on ‘Resume’ and file your income tax returns for the desired assessment year.
Book a Meet: If you are just starting out and are unsure, you can book a MEET with a tax expert at Quicko and do your taxes confidently. For doing so, all you have to do is click on the ‘Meet’ option on the right corner of the page and click on ‘Book a MEET.’
This feature allows you to avoid manually filing for taxes and have a seamless experience with FYERS. So, what’s stopping you? Get started now with Quicko and put your taxes on autopilot!
For the Frequently Asked Questions (FAQs), you can visit here.
Do let us know your thoughts in the comment section!