You can now open a trading account online on Angel Broking. Recently, stock markets are transformed from an open outcry system to an Electronic system. Trading accounts acts as an investment account that holds your cash or securities electronically and also lets you buy or sell those securities in the stock market. Stock Traders trade many instruments, for example, shares, securities, commodities, and currency through online trading platforms. For Income Tax on trading, Equity Intraday, Equity F&O, Commodity Trading, and Currency Trading are considered as a Business Income.
ANGEL
Trader
ANGEL
Steps to open a trading account online on Angel Broking
- Visit the Angel Broking website
You can access also it from here
- Click on Open an account
Fill your Name, and also your Mobile Number and Location
- Fill the following details
Date of Birth
PAN Number
Email id
Bank Account Number
IFSC Code - Click on “Take me ahead” option
As seen below
- Fill your personal details
You get the following options to fill your personal details. Choose an option as per your convenience:
– Aadhaar offline (keep your PAN card handy)
– DigiLocker (keep your PAN card handy)
– Enter Manually (keep your PAN card, Address proof and a photo ready)
- For Enter Manually, you will be required to fill the below details
Click on Continue
- Click on Proceed to ESign
After you upload the following documents:
- You will be redirected to the NSDL portal
Enter your Aadhaar number linked with your mobile number. Check the tick box. Click on Send OTP.
- You will receive an OTP on your registered number
Fill the OTP. Click on Verify OTP.
- An In Person Verification video proof will be required
Record a 10 seconds video. Click on Proceed. (You can also click on Send a mobile link and record the video from your mobile phone.)
- You will receive a POA document on your email
Finally, you are required to submit that document by either couriering your self or scheduling a pick up on your convenient location.
- The application is now successfully submitted
Your account will open soon!
FAQs
Demat account holds securities and certificates of stocks, shares etc. electronically. Additionally, the 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. You can also link the same bank account with different trading accounts. However, you can’t have multiple accounts linked with the same broker.
3 in 1 account 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:
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?