Intraday trading is buying and selling shares on the same day, but are you able to use the profit earned on the same day? Or when intraday profit is credited in Zerodha?
Let’s discussed the SEBI rule behind the intraday profit settlement and find out when the earned profit is reflected in your account.
Intraday Profit Settlement in Zerodha
According to the new rule introduced by SEBI in March 2021, the intraday profits will be shown in the trading account at the end of the next trading day (T+1 day).
This means no intraday profit settlement takes place on Trading day.
If T+1 day is a holiday, the intraday profits will be shown into your trading account on the next settlement or trading day.
Let’s understand this idea with an example:
You bought 100 shares of company X for Rs.1,000. So the total price of purchasing the shares is Rs.100,000. On the same day, you sold 100 shares at Rs. 1200.
Thus the total profit would be:
Intraday Profit= (100*1200-100*1000)
=120000-100000
= Rs. 20000
The profit amount of Rs. 20,000 will appear in your trading account at the end of the next trading day.
Let’s consider different situation to understand when intraday profit is credited in Zerodha.
Situation 1: The Trading Day is Weekday, let’s say Monday
Here the intraday trading profit will be settled after market hours i.e. 3:30 PM on Tuesday.
Situation 2: The Trading Day is Friday.
Here the profit settlement takes place on the next trading day, i.e. Monday after 3:30 PM.
Situation 3: The Trading Day is Weekday but Followed by a Holiday
Here again, the settlement will take place on the next trading day. For example the trading day is Monday and Tuesday is the holiday, then profit settlement or the amount gets reflected in your trading account on Wednesday after trading hours.
How to Check Intraday Profit in Zerodha?
Now after checking the process of when intraday profit is credited in Zerodha, here comes the process to check the profit in Kite.
- For this, log in to Kite and then to Console OR.
- Login to Zerodha Console.
- Now click on the PL statement.
- Select the segment from the drop-down.
- Enter the scrip and choose the timeline for which you want to view the intraday profit.
- Click on Submit.
- Your PL report will be displayed on the screen.
This is all from our side when intraday profits are credited to Zerodha Demat account. If you have any questions, please do not hesitate to contact us.
