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:
- Visit the Kotak Securities website.
You can access it from here.
- Fill in your details.
Such as your Name, Mobile Number and City.
- Click on Open an account now
As seen below:
- A sales representative from Kotak Securities will contact you on your registered number.
They will take it from there.
- 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. - Once these documents are verified your account will open.
You will receive a confirmation for the same.
- Kotak Securities login
Once your account is activated you can navigate to the website and log in
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
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 1: Log in to your Kotak Securities portal
- 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
FAQs
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.
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.
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.
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:
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
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
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.
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…
@Saad_C @Laxmi_Navlani @Divya_Singhvi @Kaushal_Soni @AkashJhaveri can you help with this?