Which Tax Regime to choose?
Calculate your Tax Liability and compare Old & New Tax Regime
Anushka Shah
2020-09-04 18:45:35To understand your trading activity and for its income tax compliance, you need documents like Tax P&L, Contract Note, Ledger / Account Statement. Hence, before you get any of these documents you need to create your ICICIDirect Account and Login .
This article will guide you through how to:
You can open a trading account online on ICICI Direct by following these steps:
Navigate to the website. Fill your PAN, Date of Birth and Name and Click on ‘Next’.
Fill mandatory details such as :
-Email id
-Mobile no.
-Pincode
Enter OTP which is sent on your registered mobile number.
Create a new login password.
If you have an ICICI bank account then enter the account number. and Click on ‘Next’.
Provide ICICI Direct with access to DigiLocker by logging into your DigiLocker account.
Finish the DigiLocker Identification and Click on ‘Continue’. 
Fill in your personal and financial details.
E-sign using your Aadhar Number in order to complete registration.
After 24 hours, you can navigate to their website and login to your account.
ICICI Direct allows you to download your holding statement in order to understand your investment transactions. Therefore, you can download the statement using the following steps:
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Import Your Trades
File ITR Online
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You can refer to these steps in order to download Tax P&L Report from ICICI Direct.
File Your Tax Return
On Time , Online on Quicko.com
Open Your Account Today
File Your Tax Return
On Time , Online on Quicko.com
Open Your Account Today
ICICI Direct sends a contract note for all transactions executed on the stock exchange. You can download it as follows:
This statement is used to calculate your Tax liability. Therefore, it is needed to file ITR 3.
ICICI Direct would send a consolidated physical statement for the transactions during the quarter. This statement will be designed in a user friendly manner and will be sent to you physically every quarter.
3 in 1 account at ICICI refers to as an Individual opening a Bank account, Demat account and Trading account simultaneously with the same bank.
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!
Hey @TanyaChopra
This quarterly breakdown of Dividend Income under IFOS will help to calculate and determine penalty u/s 234C for the delay in payment of Advance Tax.
Hope this helps!
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?
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!
Hey @HarishMehta
Yes, dividend income is now taxable from FY 2021-22 onwards and it has to be reported under the head of IFOS.
You can read more about it here: