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
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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.

How to File ITR for Kotak Securities?

A Kotak Securities Trader has to file ITR based on the income they have from trading in equity, mutual funds, or derivatives. Kotak Securities 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 a Kotak Securities Trader and looking to file your ITR (Income Tax Return), you can refer to the detailed process below.

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Tax P&L Report Tabs Explained

The above image is of the Kotak Equity segment statement. Kotak doesn’t provide a consolidated Tax P&L Statement. Hence, you have to download all the segments separately. The tabs included in the Tax P&L Statements are mentioned below:

  • Cost Basis – It is the original value of an asset for tax purposes, usually the purchase price, adjusted for stock splits, dividends and return of capital distributions
  •  Proceeds – Cash received from the sale of goods or services and can be discussed as gross or net
  • Square Off – It is a trading style used by investors/traders mostly in day trading, in which a trader buys or sells a particular quantity of an asset and later in the day reverses the transaction, in the hope of earning a profit

Which ITR Form is Applicable for Kotak Securities?

To file ITR is an annual process for Kotak Securities 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 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. 

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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 Kotak Securities

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

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 Sec 44AB is Rs. 1 Cr. Under Budget 2020, the turnover limit under Sec 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 income tax on trading 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.

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FAQs

How to download the Tax P&L Statement from Kotak Securities?

You can download the Tax P&L Statement from the Kotak Securities by navigating to Reports > Trades section from the dashboard. Apply the appropriate filters to download the specific statement you wish to download.

Is Trading Turnover the same as 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.

Kotak Securities: Download Holding Statement for Traders

Kotak Securities allows you to download your Holding Statement in order to understand your investment transactions. These Statements include the contents of an investment portfolio held by an individual or entity. Therefore, these statements include information about Mutual Fund or a Pension Fund. Portfolio holdings include investment products like stocks, bonds and mutual funds, F&O, exchange-traded funds (ETFs), etc.

Additionally, you download these statements from the brokerage platform; like you download Contract Notes and Tax P&L Statements from Kotak Securities. These documents are required to calculate Income Tax on Trading.

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Steps to Download Holding Statements for Kotak Securities Traders

  1. Visit the Kotak Securities portal

    Visit the Kotak Securities portal and log in by entering the required details.

  2. Click on Reports

    Select DP Holdings option from the dashboard

  3. Next, click on the download option

    It is located at the bottom of the page

Invested in F&O or Intraday?
Need to file your ITR? Let us help you out
[Rated 4.8 stars by customers like you]
Invested in F&O or Intraday?
Need to file your ITR? Let us help you out
[Rated 4.8 stars by customers like you]

FAQs

Is tax audit compulsory for F&O loss?

If the turnover of a taxpayer is in excess of Rs. 1 cr in a particular Financial year, tax audit is applicable. Additionally, if the net profit from such transactions is less than 6% / 8% of the turnover. To file a Tax Audit report is compulsory in order to file ITR. Only a CA can file the Tax Audit Report.

What is the difference between the order book and trade book?

The details of the order (executed in the stock market) including quantity, price, and unique order number are in the order book. Additionally, even the execution status and its trade number are in the trade book.
Most of the time, the execution of the order is instantaneous, therefore, order book and trade book reflects the same.

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.