Sharekhan: Create an account and Log in, Download ledger, Tax P&L Report and Contract note

To understand your trading activity and the income tax compliances, you need certain documents like Tax P&L, Contract notes, Holding Statement, etc. But, before you get any of these documents you first need to have a Sharekhan Demat account and log in.

This article will guide you through the following:

How to Create and Log in to Sharekhan?

  1. Visit the Sharekhan website

    Click on Open an account. You can access it here.

  2. Click on Open trading account

    As seen below:

  3. After that, fill in your details

    Including:
    -Name
    -Email id
    -Mobile number
    -Location
    -Pincode

  4. Next, click on Open trading account

    As seen below:

  5. Online process of account opening is completed

    Finally, the process is offline from here.

  6. A sales representative will shortly contact you

    After that, will require documents such as:
    -Self-attested PAN
    -Self-attested Aadhaar
    -Passport size photo
    -Canceled cheque or bank passbook to link with your account

  7. Finally, once your documents get processed, your account will get activated.

    You will receive a notification for the same.

8. Sharekhan login

Once your account is activated, navigate to the website and enter your user id and password and click on login.

How to download Ledger for Sharekhan traders?

Here’s how you can download the ledger from your account:

  • Step 1: Log in to Sharekhan portal
  • Step 2: Click on Reports
  • Step 3: Select the ledger of any segment that you want to view. Eg: Equity Ledger Summary
  • Step 4: From the options, click on Equity Ledger Summary
  • Step 5: Select the necessary filters. Click on Show. You can now view your Ledger summary.
  • Step 6: Click on the excel sheet to download the ledger. You can view it from your PC

How to download Tax Profit and Loss Report?

  • Step 1: Log in to the Sharekhan portal and login to your account.
  • Step 2: Search for Scrip summary. You can do this from the search bar. You can view the scrip summary separately for all the segments i.e Equity or F&O.
  • Step 3: Now you can now view your Scrip summary from the dashboard
  • Step 4: Click on the Excel sheet. Click on download your scrip summary

How to download Contract notes for Sharekhan traders?

  • Step 1: Visit the Sharekhan portal and click on the “Login/Trade” option
  • Step 2: Next, you will be redirected to the login page. Enter the login ID/e-Mail ID and click on the “Next” option. Then fill in the “Membership Password” in the respective field.
  • Step 3: After you log in, click on the “Reports” option and select this from the dashboard
  • Step 4: Next, click on the “Contract Tracker” option from under the particular column. Select which Contract Note you wish to view/download.

FAQs

How does the Tax profit and Loss Statement help me?

This statement is used to calculate your Tax liability. Therefore, it is needed to file ITR 3.

What is the difference between Trading and Demat account?

A Demat account holds securities and certificates of stocks, shares, etc electronically while a Trading account lets you buy or sell those securities in the stock market.

Is Trading Turnover same as Contract Turnover?

No. The Contract Turnover is the sum of the purchase value and sales value. It is not considered for income tax purposes. However, the Trading Turnover or Business Turnover is the absolute profit i.e. sum of positive and negative differences. Hence, 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.

Kotak Securities: Create an account and Log in, Download Holding Statement, Tax P&L Report, and Ledger

To understand your trading activity and the income tax compliances, you need certain documents like Tax P&L, Ledger, Holding Statement, etc. But, before you get any of these documents you first need to have a Kotak Securities Account and log in.

This article will guide you through the following:

How to Create and Log in to Kotak Securities?

Here’s how you can open a trading account online with Kotak Securities by following these steps:

  1. Visit the Kotak Securities website.

    You can access it from here.

  2. Fill in your details.

    Such as your Name, Mobile Number and City.

  3. Click on Open an account now

    As seen below:

  4. A sales representative from Kotak Securities will contact you on your registered number.

    They will take it from there.

  5. During the IPV there are documents required by the sales representative.

    These include:
    – Self-attested PAN copy;
    – Self-attested Aadhaar copy;
    – Passport size photo;
    – Bank account details that are to be linked with the Demat account;
    – And, the signature of the account holder will also be required.

  6. Once these documents are verified your account will open.

    You will receive a confirmation for the same.

  7. Kotak Securities login

    Once your account is activated you can navigate to the website and log in

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How to download Holding Statement for Kotak traders?

Here’s how you can download the Holding Statement from your account:

  • Step 1: Visit the Kotak Securities portal and log in by entering the required details.
  • Step 2: Click on Reports. Select the DP Holdings option from the dashboard
  • Step 3: Next, click on the download option. It is located at the bottom of the page
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How to download Tax Profit and Loss Report?

  • Step 1: Visit the Kotak Securities portal and log in to your account by entering the required details.
  • Step 2: Next, the top bar go to “Reports“. Select “Trades”
  • Step 3: The Trading report is now displayed. There is an option to download the report. To download click on the “Down arrow” and choose “Excel
  • Step 4: The file will be downloaded on your PC under the Downloads section.
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How to download Ledger for Kotak securities traders?

  • Step 2: Go to Services. Next, click on Account services
  • Step 3: Click on View my ledger
  • Step 4: Select the necessary filters and Click on Go. Click on NSE for details
  • Step 5: You can now view your Ledger Entries
Income Tax Calculator
Calculate income tax liability for FY 2020-21. Compare tax liability as per New vs Old Tax Regime.
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Income Tax Calculator
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FAQs

How does the Tax profit and Loss Statement help me?

This statement represents your trading profits and losses and is used to calculate your Tax liability. Therefore, it is needed to file an ITR 3.

What is the difference between Trading and Demat account?

Demat accounts hold securities and certificates of stocks, shares, etc electronically while a Trading account lets you buy or sell those securities in the stock market.

Can I have 2 trading accounts?

Yes. An Individual can have as many trading accounts as they want. Additionally, you can link the same bank account with different trading accounts. However, you can’t have multiple accounts linked with the same broker.

Upstox : Login, Reset Password, Download Tax P&L, Contract Note, Ledger

To understand your trading activity and for its income tax compliance, you need documents like Tax P&L, Contract Note, Ledger / Account Statement. Before you get any of these documents you need to login to your Upstox pro account. In case you forgot your Upstox login password you can reset it.

This article will guide you to:

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How to Login to Upstox Pro Account?

Steps to login to your Upstox Pro trading account

  1. Visit Upstox Pro

    To login to your Upstox pro account, visit: https://pro.upstox.com

  2. Enter User ID and Password

    Your 6-digit Upstox User ID will be emailed to you when you open your Upstox trading account. Your password will be sent to you separately in the following email.

  3. Enter your Date of Birth

    Once you successfully enter your User ID and password, you will be asked to enter your Date of Birth as part of the two-step authentication.

  4. Successful Login to Upstox pro account

    After you have successfully completed the above steps, you will be logged into your upstox pro account.

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How to Reset Upstox Pro using Forgot Password?

If you forgot your 6 – 12 character Upstox pro password, you have an option to login to reset the password. After 3 consecutive failed attempts to login to your Upstox account, your account will be blocked. In order to unblock your account, you can log in reset your password using the forgot password link.
To Reset your Upstox pro password you will need:

  • PAN card Number (Permanent Account Number)
  • UCC ID / Client ID / User ID
  • Email Address

Enter your PAN, UCC ID and email in the forgot password window, your new Upstox Pro password will be emailed to you.

How to Download Tax Profit and Loss from Upstox Backoffice?

Upstox 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 income tax on trading income.

Follow this step-by-step process to download Tax Profit and Loss statement from Upstox backoffice.

  • Step 1: Visit Upstox Back office portal from bo.upstox
Upstox Backoffice login
  • Step 2: Log in with your user id and your password (Your password will be your PAN in caps lock if you are logging in for the first time.)
  • Step 3: After logging into the Dashboard, go to bill > Profit/Loss
Upstox Dashboard
  • Step 4: Set the relevant filters for year and segments. Click on GO > Then click on Export to Excel.
Upstox Dashboard download Tax PnL
  • Step 5: Your P&L statement will be downloaded to your PC

Sample Upstox Tax Profit and Loss

Sample Tax P&L Upstox

How to Download Account Statement / Ledger from Upstox Backoffice?

Upstox allows you to download your Tradebook/Ledger from their trading portal. A Ledger/Tradebook contains all the transactions made in the stock market from a trading account.

Follow this step-by-step process to download your Upstox Ledger or Account statement.

  • Step 1: Visit Upstox Back office portal from bo.upstox
Upstox Backoffice Login
  • Step 2: Log in with your user id and your password (Your password will be your PAN in caps lock if you are logging in for the first time.)
  • Step 3: Navigate to Account > Ledger
Upstox Account > Ledger
  • Step 4: Select the year for which you want the ledger / account statement.
  • Step 5: Click on Export in Excel sheet to get your Upstox Ledger / Account statement.
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How to Download Contract Note from Upstox Backoffice?

Upstox sends its traders a contract note for all transactions executed on the stock exchange. You can now download Contract Note for Upstox Traders. Contract Note is a legal obligation of every stockbroker

Follow this step-by-step process to download the contract note from upstox backoffice.

  • Step 1: Visit Upstox Back office portal from bo.upstox
Upstox Backoffice Login
  • Step 2: Log in with your user id and your password (Your password will be your PAN in caps lock if you are logging in for the first time.)
  • Step 3: You will land on the homepage. Navigate to Download > Digital Sign option from the dashboard.
  • Step 4: Select File type option > Click on “CW-Contract Note” option from the drop-down list > click on the “Go” option
Upstox download Contract note

Sample Upstox Contract Note

Sample Upstox Contract Note
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FAQs

What are the documents required from my Upstox account to file Income Tax Return?

To file your ITR with the trading activity you need to provide Profit and Loss statement and Account Statement in your Upstox account.

Which document will have my Upstox Trading Turnover?

Trading Turnover will be used to determine your income tax audit applicability. You can find your Trading Turnover under the Tax Profit and Loss statement.

What is the duration I need to select to download documents from Upstox for ITR filing?

You will need the statements for the financial year in which you do the trading. The financial year begins on 1st April and ends on 31st March. It is the year in which you earn the income / undertake the financial activity like trading. For eg: if you are filing the ITR for FY 2019-20, you need statements from 1st April 2019 to 31st March 2020.

Is Trading Turnover same as Contract Turnover?

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

Download Contract Note for HDFC Securities Traders

HDFC Securities sends a contract note for all transactions executed on the stock exchange, you can download it from the portal as well. Contract Note is a legal obligation of every stockbroker. In conclusion, it is the confirmation of trade, done on a particular day on behalf of a client on a stock exchange. Your broker sends it by End of day.

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Additionally, this document is also sent digitally signed in an electronic format. Moreover, to view the details of segment-wise profit and loss, the taxpayer can download the Tax P&L Statement from their HDFC Trading portal. These documents are used while calculating and filing Income Tax on Trading.

Steps to Download Contract Note for HDFC Securities Traders

  1. Visit the HDFC Securities portal and login to your account by entering the following details:

    Username
    Password
    Date of Birth

  2. Click on the “Reports/Statements

    Select this option from the dashboard

  3. Click on the “Common Contract Notes

    Select is from the drop-down list.

  4. Enter the from and to dates in respective boxes

    Click on the View Report option to view the report.

  5. Click on the Contract Note Number

    Now you can view the report.

In order to open your Contract Note, you will be prompted to enter the password. The format of the password is - first three characters of your first name in upper case and the four characters of your D.o.B (DDMM format)
Tip
In order to open your Contract Note, you will be prompted to enter the password. The format of the password is - first three characters of your first name in upper case and the four characters of your D.o.B (DDMM format)

A Sample of the HDFC Securities CNC:

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FAQs

What is a contract note?

A contract note is a legal record of any transaction carried out on a stock exchange through a stockbroker. therefore, it is the confirmation of trade done on a particular day on behalf of a client on a stock exchange.

Is tax audit compulsory for F&O loss?

Tax Audit is required when the turnover of a taxpayer exceeds INR 1 Cr in a particular Financial year and if the net profit from such transactions is less than 6% of the turnover. Filing Tax Audit is compulsory in order to file ITR. Moreover, a Tax Audit Report can only be filed by a CA.

What does a contract note include?

A valid contract note should have the following details in a structured format:
1. SEBI registration number of the Trading Member
2. Details of your trades like Traded security & Quantity, Brokerage Charged, Details of other Service Charges Order Number, Trade Number, Trade Price, Trade execution Time, etc.
3. Signature of Authorized Signatory or Digital Signature in Electronic format
4. Bylaws and regulations pertaining to Arbitration

Download Tax Profit and Loss report from HDFC Securities

HDFC Securities 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 consists of 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 HDFC Securities

  1. Log in to your HDFC Securities platform

    You can do it from here

  2. Click on Portfolio

    Next, choose Profit and Loss statement

  3. Select the Financial year, asset type and other necessary filters

    Click on Submit

  4. Click on the PDF button on the top right

    Now, your statement downloads

  5. The PDF will be downloaded on your PC

    Finally, this is what it will look like:

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FAQs

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. Additionally, 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. Hence, 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 HDFC Securities?

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

Download Tax Profit and Loss report from Axis Direct

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 consists of 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

  1. Log into your Axis Direct account

    You can do it here.

  2. Select Portfolio

    From your dashboard, under equity and derivatives

  3. Select Portfolio again

    Once the Portfolio site opens

  4. Select Reports

    Choose P&L statement

  5. Select necessary filters

    Click on Go

  6. Scroll down and click on the PDF or Excel button

    This is to to download the P&L statement

  7. The statement will be downloaded on your PC

    You can view it from there.

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FAQs

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.

How to File ITR for ICICI Direct?

An ICICI Direct Trader has to file ITR based on the income they have from trading in equity, mutual funds, or derivatives. ICICI Direct provides a Tax P&L Report to all its traders aggregating the trading transactions done during the financial year. Using the Tax P&L Report, the trader can determine which ITR Form to file and also determine the applicability of the Tax Audit. If you are an ICICI Direct Trader and looking to file your ITR (Income Tax Return), you can refer to the detailed process below.

Tax P&L Statement Tabs Explained

ICICI Direct does not provide a consolidated Tax P&L Statement. Hence, you will have to manually download the tax statements for different segments. However, the information mentioned in these statements are explained below:

  • Trade Date – The date on which the trade was made
  • Exchange – An exchange gain or loss is caused by a change in the exchange rate used such as when an invoice is entered in at one rate and paid at another, this will generate an exchange gain or loss
  • Credit/Debit – Debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. It is positioned to the left in an accounting entry. Credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account
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Which ITR Form is Applicable for ICICI Direct?

To file ITR is an annual process for ICICI Direct traders. Based on the income situation, the taxpayer needs to file the prescribed ITR Form. The taxpayer should report incomes, calculate and pay taxes, claim TDS Credits, and request a refund for the overpayment of taxes while filing their ITR. The income tax department has notified ITR Forms based on different income situations. To know which ITR Form is applicable to you, use the below calculator. 

Check which ITR Form to file?
Income Tax Return Forms to file depends on your Income Source, Residential Status, and other financial situation. Know which ITR Form you should file.
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Check which ITR Form to file?
Income Tax Return Forms to file depends on your Income Source, Residential Status, and other financial situation. Know which ITR Form you should file.
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Taxpayers having income from trading need to file ITR-2 or ITR-3 based on the nature of income from trading. In the case of Capital Gains Income, file ITR-2 and in case of Business Income, file ITR-3.

Due Date for Filing ITR for ICICI Direct

Income Tax Return(ITR) filing is done after the completion of a financial year. Due dates for ITR filing are as per section 139 of the income tax act. Due dates for different category of taxpayers are as follows:

Category

Due Date

Individuals to whom audit is not applicable

31st July of the Assessment Year

Companies

30th September of the Assessment Year

Individuals to whom audit is applicable

30th September of the Assessment Year

Individuals/ HUF who are partners in a firm and firm’s accounts are subject to audit

30th September of the Assessment Year

The above due dates can be extended by the IT Department via order.

Tax Audit Applicability for ITR filing of ICICI Direct

Stock Traders trade in shares, securities, commodities and currency through online trading platforms. Income from trading in Equity Intraday, Equity F&O, Commodity Trading and Currency Trading is considered as a Business Income. Thus, it is important to determine the applicability of Tax Audit as per the provisions of Income Tax Act.

Check Tax Audit Applicability u/s 44AB
Check Income Tax Audit applicability u/s 44AB to file Tax Audit Report Form 3CB - 3CD with your Income Tax Return.
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Check Tax Audit Applicability u/s 44AB
Check Income Tax Audit applicability u/s 44AB to file Tax Audit Report Form 3CB - 3CD with your Income Tax Return.
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The limit for turnover under Section 44AB is Rs. 1 Cr. Under Budget 2020, the turnover limit under Section 44AB has been increased from Rs. 1 Cr to Rs. 5 Cr if the following conditions are satisfied:

  1. Cash Payments do not exceed 5% of the Total Payments in the financial year
    AND
  2. Cash Receipts do not exceed 5% of the Total Receipts in the financial year

Calculation of Trading Turnover

Any person having income from trading in shares and securities should report it as income from business and profession. To determine the applicability of Tax Audit as per the Income Tax Act, we should calculate Trading Turnover for such income. It is important to note that tax liability does not depend on Turnover. The trading turnover should be calculated only when the share trading income is considered as a business income and not when it is considered as capital gains income.

FAQs

How to download the Tax P&L Statement from the ICICI direct portal?

You can download the Tax P&L Statement from the ICICI Direct portal after logging into the portal and navigating through My Account > Statements > Consolidated Portfolio Statement from the dashboard.

Is Trading Turnover the same as Contract Turnover?

No. Trading Turnover is different than Contract Turnover.
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.

I am a trader. Which ITR Form do I need to file for my Income Tax Return?

Taxpayers having income from trading need to file ITR-2 or ITR-3 based on the nature of income from trading. In the case of Capital Gains Income, file ITR-2 and in case of Business Income, file ITR-3.