Open a Trading Account online on Upstox

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Aakash (Quicko Customer Success Representative)

F&O Trading
Speculative Income
Trading Income
Upstox Traders
Last updated on February 9th, 2023

You can open a Trading Account online on Upstox. 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. Income from trading in Equity Intraday, Equity F&O, Commodity Trading, and Currency Trading is considered as a Business Income.

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Steps to open a Trading Account online on Upstox

  1. Visit Upstox website

    Firstly, click on Open a free Demat account.upstox open free account online

  2. Fill your email and phone number

    Click on Process.upstox account open process

  3. Fill your PAN number and Birthdate as per PAN

    Click on Next.upstox fill pan details

  4. Select from options given below

    You can choose the option as per your requirement.upstox fill aadhaar based details

  5. Check the tickbox

    Click on Next.upstox fill aadhaar details

  6. Select the segments you want to trade-in

    Mention coupon code if any or click on Next.upstox choose plan

  7. Enter your bank details.

    Click on Next.upstox add bank details

  8. Upload your digital signature.

    You can also submit your income proof (Optional). Click on Next.
    upstox upload digital sign

  9. Upload Aadhaar document in two parts- front and back

    Manually fill the details on the right as per Aadhaar. Click on Next.upstox upload aadhaar

  10. Upload your digital PAN copy and Passport size photograph

    Click on Next.upstox upload PAN

  11. Choose a brokerage plan as per your need

    Click on Continue.upstox choose brokerage plan

  12. Esign using Aadhaar Number.

    The mobile number has to be linked with Aadhaar. Click on Esign Now.upstox Esign

  13. You will receive an OTP on your mobile number linked with your Aadhaar

    Fill the OTP. Click on Submit.upstox Esign OTP

  14. Sign Now

    Click on the option to Sign upstox sign now

  15. You will be redirected to the NSDL portal

    Fill your Aadhaar number. You will receive an OTP. Fill the OTP. Click on Verify OTP.upstox TIN-NSDL

  16. Upload your In Person Verification (IPV) video

    Click on Next.upstox IPV proof

  17. After your IPV video is uploaded

    Click on Next.upstox IPV proof upload

  18. Finally, the process is now complete

    You will get the user id and password when your account gets activated.upstox application submitted

Import Your Trades
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Import Your Trades

File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

FAQs

What is the difference between Trading and Demat account?

Demat account hold securities and certificates of stocks, shares etc electronically while 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. You can link the same bank account with different trading accounts. However, you can’t have multiple accounts linked with the same broker.

What is 3 in 1 account?

3 in 1 account refers to as an Individual opening a Bank account, Demat account and Trading account simultaneously with the same bank.

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…

Continue the conversation on TaxQ&A

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