MProfit provides you a feature to proportionately transfer the bond contract note charges (including GST, Stamp Charges, Transaction Charges) to the purchase and sale amounts for each bond in a portfolio. This will reduce the value of your short-term & long-term capital gain tax liability.
This can be done for all bonds in a portfolio at once.
Please note that once you have transferred charges for a portfolio, you will not be able to undo this step.
To use this feature, please follow the below steps:
1) In your MProfit portfolio summary screen, right click on the Traded Bonds category and click Advanced. Next, select Transfer Contract Note Charges.
2. Select the time period (Start Date to End Date) for which you want to proportionately allocate charges to purchase amount & sale amount. By default, MProfit transfers all charges such as GST, Stamp duty and Transaction Charges. STT is an optional charge which by default is not included for this process.
If you need to transfer STT, you can check the Include STT checkbox.
Please note that once you have transferred charges for a portfolio, you will not be able to undo this step. Your purchase & sale amounts in this portfolio will henceforth display net of charges and the charges in the contract note view will display as zero values.
Finally, click Save.
Your charges will now be proportionately transferred to purchase & sale amounts for all bonds in this portfolio. Your capital gains will also henceforth be computed net of the transferred charges.