Download Tax Profit and Loss report from Axis Direct

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Aakash (Quicko Customer Success Representative)

F&O Trading
P&L Statement
Speculative Income
Trading Income
Last updated on May 15th, 2023

Axis Direct allows you to download your Profit and Loss Report online. It is the same as a Tax P&L report, and it is an essential document to calculate taxes on trading income. Traders have a “Trading Statement” that consists of a list of transactions undertaken by the person in various segments during a specific period. It includes details such as:

  1. Date
  2. Time
  3. Script Name
  4. Purchase price
  5. Sale price
  6. Segment
  7. Quantity, etc.

These details then help determine the Income Tax on Trading.

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Steps to download Profit and Loss Report from Axis Direct

Follow these steps to download your Axis Direct Tax P&L

  1. Login to your Axis Direct trading account

  2. Click on Portfolio

    From your dashboard, under equity and derivativesaxis direct equity and derivatives

  3. Select Portfolio again

    Once the Portfolio site opensaxis direct portfolio

  4. Select Reports

    Choose Capital Gain & Loss Statement

  5. Select the financial year

    axis direct p&l statement

  6. Scroll down and click on Download

    Download > XLSX Download consolidated reportaxis direct download p&l

  7. The statement will be downloaded on your PC

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Is tax audit compulsory for F&O loss?

Tax Audit is required when the turnover of a taxpayer exceeds Rs. 1 cr in a particular Financial year. It is also applicable if the net profit from such transactions is less than 6% / 8% of the turnover. Additionally, a tax Audit report can only be filed by a CA.

Is Trading Turnover same as Contract Turnover?

No. Contract Turnover is the sum of the purchase value and sales value. It is not considered for income tax purposes. Trading Turnover or Business Turnover is the absolute profit i.e. sum of positive and negative differences. This turnover is considered to determine the applicability of the tax audit and the applicable ITR form. Therefore, Trading Turnover is different from Contract Turnover.

How to download Ledger from Axis Direct?

To download Ledger from Axis Direct, Go to My reports > Ledger. You can view and download your ledger from there.

Got Questions? Ask Away!

  1. Hey @TeamQuicko

    Thanks for the blog! Just one quick question - Why do we have to report a quarterly breakdown of Dividend Income under IFOS?

    Thank you!

  2. I had received dividend recently but I had noticed that TDS had been deducted. any idea as to why has it happened and is there a way I can claim this TDS?

  3. Hey @HarshitShah

    After the introduction of Budget 2020, dividend income is now taxable in the hands of the shareholder; and is also subject to TDS at 10% in excess of INR 5000 u/s 194 & 194K. Foreign Dividend is taxable at slab rates. TDS is not applicable to such dividends. The taxpayer should report such income under the head IFOS in the ITR filed on the Income Tax Website.

    Hope this helps!

  4. Hi @Maulik_Padh,

    You need to pay Income tax on the net taxable income, i.e. after subtracting deductions, expenses, etc.
    If the net taxable income is negative i.e. if there is loss, you can carry it forward when filing the ITR

    Here are some of the articles which might help

  5. Hi @ameyj

    The amount of TDS deducted shall reflect in your Form 26AS only and it will also reflect the name of the deductor.
    Using the name of the deductor you can find out on which share you have received the dividend and you can also cross-check the same in your bank statement.

    Yes, you are right, TDS is to be deducted when the dividend paid exceeds 5000 INR in a financial year. However, the 5,000 INR limit pertains to all the dividends an individual gets in a year, or the total dividend per shareholder that a company pays out in a year, is left to interpretation, and hence registrars and share transfer agents (RTA) are not taking any chances and are deducting TDS even on small amounts.

    Hope this helps :slightly_smiling_face:

  6. Hi @ameyj

    You can submit a grievance on Income Tax Portal mentioning the issue and also attach the 26AS.
    The other option is to leave it as it is and clarify it when the tax department sends the notice.

  7. Hi @TeamQuicko

    Consider that I have 10 shares each of 10 different Indian companies. Each of the 10 companies are declaring a dividend of INR 100 before the FY ends. Now I will be recieving 1000 as dividend from each company, thereby a total of 10,000.

    The 5,000 dividend limit, is it applicable to each company / total dividend recieved by me in a year. If it is applicable to each company, then I would not attract TDS of 10% for dividend.

    Also pl clarify, how would the company B know that I have got shares of Company A,C,D,E so on…

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