Annual Global Statement (AGS)

Overview

The Annual Global Statement (AGS) is a consolidated account statement that Indian stockbrokers are required to send to every active client at the close of each financial year (31 March). It is mandated by SEBI as part of the broader framework of client reporting obligations and serves as a year-end summary of the client’s relationship with the broker – covering trades, charges, fund movements, and holdings across all segments and exchanges.

For clients of Zerodha, the AGS is delivered by email within a specified period after the financial year end and is also accessible through Zerodha Console. It is distinct from the granular reports (Tradebook, contract notes, ledger) in that it is designed as a high-level annual reconciliation document rather than a transaction-by-transaction record.

Regulatory basis

The obligation to issue an Annual Global Statement arises from SEBI’s evolving client reporting framework:

• SEBI Circular CIR/MIRSD/1/2014 – introduced the requirement for brokers to send a combined statement (combining trade, funds, and holdings information) to clients at year end.
• SEBI Master Circular for Stock Brokers – consolidates reporting obligations; the AGS is specified as a mandatory annual deliverable.
• NSE and BSE exchange directives – carry forward SEBI’s mandate and specify format guidelines for member firms.
• SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/173 – updates to client reporting timelines.

Brokers are required to send the AGS within a prescribed period after 31 March each year. Failure to do so can result in exchange-level penalties. The statement must be delivered to the client’s registered email address; paper copies are not mandated where electronic consent has been obtained.

Contents of the Annual Global Statement

The AGS is a composite document with several sections:

Client information

• Client name, PAN, DP ID (demat account identifier), and Zerodha client code.
• Registered bank account details (account number, bank, IFSC).
• KYC status and linked mobile/email as of 31 March.

Funds summary

A summary of the total funds received from the client during the year, total funds returned (withdrawals and quarterly settlements), and net funds balance at year end. This section corresponds to the cumulative view of the Funds statement / Ledger for the financial year.

Charges summary

An aggregate of all charges debited during the financial year, broken down by type:

• Brokerage (total for the year, by segment where applicable)
• STT/CTT (total Securities Transaction Tax and Commodity Transaction Tax)
• Exchange transaction charges
• SEBI turnover fees
• Stamp duty
• DP charges
• GST
• Any interest on debit balance

This section allows the client to assess the total cost of trading for the year at a glance, which is also useful for computing F&O business expenditures (brokerage and transaction charges are deductible as business expenses for F&O traders).

Trade summary

High-level statistics about trading activity during the year:

• Number of trades executed (by segment)
• Total turnover (by segment)
• Average number of trading days active

This is not a replacement for the Tradebook but provides an at-a-glance activity profile.

Holdings as of year end

The demat holdings in the account as of 31 March, matching the year-end Holdings report snapshot. Fields include ISIN, scrip name, quantity, and (in some versions) the cost basis.

Open positions as of year end

Any open carryforward F&O or CNC positions as of 31 March that have not yet been closed. For most retail investors this section will be empty unless they hold long-dated futures or options positions or have unclosed intraday positions (which should not persist past market close but may appear if a system issue prevented squaring off).

Quarterly settlement confirmation

A record of each quarterly settlement during the financial year – dates, amounts transferred to the registered bank account, and whether any balance was retained (with reason, such as open positions requiring margin). This section serves as the annual summary of the running account settlement activity, with each transfer corresponding to one quarterly settlement event.

How to access the AGS from Zerodha

The AGS is automatically emailed to the client’s registered email address within 30 days of 31 March (exact timing varies by year and is communicated by Zerodha via circular). For Zerodha clients:

1. Check the registered email inbox for a communication from Zerodha with subject “Annual Global Statement – FY 20XX-XX.”
2. The document is typically attached as a PDF with a password set to the client’s PAN (in uppercase) – a standard security measure for financial documents.
3. On Zerodha Console, navigate to Reports to find the AGS if archived there by the broker for the relevant year.

If the email is not received within 45 days of 31 March, the client should contact Zerodha’s support desk referencing the SEBI circular mandate.

Purpose and operational use

Annual reconciliation

The primary purpose of the AGS is to allow clients to reconcile their total activity for the year against their own records (personal trading journals, bank statements, and tax workings). Discrepancies in total brokerage charged, total STT paid, or total funds received are first visible at this consolidated level and then investigated in the underlying granular reports.

Tax filing support

While the AGS is not the primary document for ITR filing (the Tax P&L statement and ITR-ready capital gains statement serve that purpose), it provides:

• Total charges deductible as F&O business expenses (brokerage + transaction charges + exchange fees, net of GST where input credit is unavailable).
• Confirmation of total turnover by segment, which can be cross-referenced with the AIS/26AS before filing.
• Holdings as of 31 March for Schedule AL disclosures in ITR-2 and ITR-3.

Regulatory audit

If SEBI, an exchange, or the income tax department requests account information for a specific financial year, the AGS provides a compact summary that can be supplemented with granular reports. It also serves as evidence that the broker fulfilled its reporting obligations for that year.

Comparison with other annual statements

The AGS is broker-specific (covering only the Zerodha account). Clients holding securities through multiple brokers or who hold mutual fund units in non-demat form will also receive:

• Consolidated Account Statement (CAS) from CDSL or NSDL – covers all demat holdings across all brokers linked to the PAN, but does not include brokerage or fund movement data.
• Annual Consolidated Statement from AMFI/CAMS/KFintech – covers mutual fund folios in statement-of-account (non-demat) mode.

A complete annual financial picture requires combining all three: the AGS (broker-specific trades and charges), the CAS (all demat holdings), and the mutual fund consolidated statement.

Retention

The AGS should be retained for at least six years from the end of the relevant assessment year, in line with the Income Tax Act’s scrutiny assessment window. As a regulatory document issued by the broker, it is also useful for any exchange or SEBI-related proceedings. Zerodha retains these on Console for five years; clients should download and archive their own copies.

Related reports

• Console Tradebook – transaction-level trade records.
• Console Funds statement – full ledger underlying the AGS funds summary.
• Console Holdings report – detailed holdings as of the report date.
• Consolidated Account Statement (CAS) from CDSL – depository-issued multi-broker holdings.
• Quarterly running account settlement – the framework for the quarterly settlement events summarised in the AGS.

References

1. SEBI Circular CIR/MIRSD/1/2014 – Annual combined statement mandate for brokers.
2. SEBI Master Circular for Stock Brokers (most recent edition) – consolidated reporting obligations.
3. SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/173 – Updates to client reporting.
4. Zerodha Support, “Annual Global Statement – what it is and how to read it” – support.zerodha.com.
5. Income Tax Act, 1961, Section 149 – Limitation period for reassessment notices.