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.

Promo Code
Tax Compliance for HDFC Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online
[Rated 4.8 stars by customers like you]
Tax Compliance for HDFC Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online.
[Rated 4.8 stars by customers like you]
Promo Code
Explore Now

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:

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

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.

Promo Code
Tax Compliance for HDFC Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online
[Rated 4.8 stars by customers like you]
Tax Compliance for HDFC Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online.
[Rated 4.8 stars by customers like you]
Promo Code
Explore Now

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:

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

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.

Promo Code
AXIS
Tax Compliance for Axis Direct
Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online
[Rated 4.8 stars by customers like you]
Tax Compliance for Axis Direct Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online.
[Rated 4.8 stars by customers like you]
Promo Code
AXIS
Explore Now

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.

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

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 Sharekhan?

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

Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]
Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]

Tax P&L Statement of Sharekhan Explained

Therefore, as you can see from your image, your statement provided by the portal is not a consolidated one. Therefore, you have to download the statements for the different segments separately. Given below is the break down of the tabs mentioned from the above statement:

  • Holding Period – It is the return on an asset or portfolio over the whole period during which it was held. It is one of the simplest and most important measures of investment performance
  • Realized Gain/Loss – It refers to profit or loss on a completed trade
  • Short Term Transaction -It refers to those trading strategies in stock market or futures market in which the time duration between entry and exit is within a range of few days to few weeks
  • Long Term Transactions – Transactions involving capital assets you held more than 1 year are generally long-term
  • Speculation Transaction – It means a transaction in which a contract for the purchase or sales of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips

Which ITR Form is Applicable to Sharekhan?

To file an ITR is an annual process for Sharekhan 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 also notified ITR Forms based on different income situations. To know which ITR Form is applicable to you, you can 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.
Explore
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.
Explore

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 of Filing ITR for Sharekhan

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. Therefore, 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

To add, the above due dates can be extended by the IT Department via order.

Tax Audit Applicability for Sharekhan

Stock Traders trade in shares, securities, commodities and currency through online trading platforms. Additionally, 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.
Explore
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.
Explore

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 for Sharkehan

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 also 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.

Import Your Trades
File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

Import Your Trades

File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

FAQs

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

You can download the Tax P&L Statement from the Sharekhan portal by navigating to Scrip Summary > Equity Scrip Summary (or any other Scrip Summary) section 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. Hence, it is not considered for income tax purposes. Trading Turnover or Business Turnover is the absolute profit; that is the 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. Therefore, in the case of Capital Gains Income, file ITR-2, and in the case of Business Income, file ITR-3.

How to File ITR for Upstox?

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

Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]
Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]

Upstox Tax P&L Statement Tabs Explained

Therefore, as you can see from your image, your Tax P&L Statement contains the following columns:

  • Scrip Code/Scrip Name – It is a term used in the stock market where companies can sometimes pay dividends in the form of additional shares/stock rather than in money. It is also a written document that acknowledges the debt
  • The Buy/Sell/Balance sections contain details of the quantity, average and the amount
  • Close Rate – The exchange rate for two currencies at the end of a period of time, such as a trading day or month
  • Close Stock – Closing stock is the amount of inventory that business still has on hand at the end of a reporting period. This includes raw materials, work-in-process, and finished goods inventory. 
  • Net P/l, +P/-L – It refers to the values calculated from the realized and unrealized P&L section
  • Realized P&L – It refers to profit or loss on a completed trade
  • Unrealized P&L – It is the current profit or loss of an open position

Which ITR Form is Applicable for Upstox?

To file an ITR is an annual process, for Upstox 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. 

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.
Explore
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.
Explore

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 Upstox

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.
Explore
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.
Explore

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 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.

Import Your Trades
File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

Import Your Trades

File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

FAQs

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

You can download the Tax P&L Statement from the Upstox BO portal by navigating to Bill > Proft/Loss 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?

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.

How to File ITR for Motilal Oswal?

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

Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]
Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]

Tax P&L Statement Tabs Explained

You can view the profit and loss statements from the Motilal Oswal portal. Motilal Oswal doesn’t provide a consolidated tax profit and loss statement. Therefore, you have to toggle through their tabs as shown in the above image to view the statements from the different segments. Given below is the breakdown of the profit and loss statement tabs:

  • Average Sell Rate – The average selling price of goods or commodities is the average price at which a particular product or commodity is sold across channels or markets
  • Total Sell Value – The total amount of sales in a given period. Total sales revenue can be represented in several ways, but it is typically formulated as total number of units sold times price per unit 
  • Average Buy Rate – The average buying price of goods or commodities is the average price at which a particular product or commodity is bought across channels or markets
  • Realized Gains/Loss – Realized profit is the profit that comes from a completed trade; in other words, a trade that has been exited. Realized profit is usually already deposited into the trader’s trading account and can be withdrawn from their trading account to a bank account
  • Securities Transaction Tax (STT) – It is a tax payable in India on the value of securities (excluding commodities and currency) transacted through a recognized stock exchange

Which ITR Form is Applicable For Motilal Oswal traders?

To file an ITR is an annual process for Motilal Oswal trader. 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. 

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.
Explore
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.
Explore

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 Motilal Oswal traders

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. For Income tax on tradingEquity Intraday, Equity F&O, Commodity Trading and Currency Trading are 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.
Explore
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.
Explore

The limit for turnover under Section 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 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.

Import Your Trades
File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

Import Your Trades

File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

FAQs

How to download the Tax P&L Statement from the Motilal Oswal portal?

You can download the Tax P&L Statement from the Motilal Oswal portal by clicking on the MO Genie option and selecting the Profit and Loss Statement option.

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.

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.

Promo Code
Tax Compliance for Kotak Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online
[Rated 4.8 stars by customers like you]
Tax Compliance for Kotak Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online.
[Rated 4.8 stars by customers like you]
Promo Code
Kotak

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. 

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.
Explore
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.
Explore

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.
Explore
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.
Explore

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.

Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]
Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]

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.

Download Tax Profit and Loss report from 5Paisa

5Paisa 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 calculate income tax on trading activity.

ITR for Intraday Traders
CA Assisted Income Tax Return filing for Individuals and HUFs having income form Intraday Trading.
[Rated 4.8 stars by customers like you]
ITR for Intraday Traders
CA Assisted Income Tax Return filing for Individuals and HUFs having income form Intraday Trading.
[Rated 4.8 stars by customers like you]

Steps to download Profit and Loss Report from 5Paisa

  1. Log in to your 5Paisa account

    Enter your username and password

  2. Click on your Profile logo

    On the Dashboard

  3. Go to My reports

    From the options Tab

  4. Choose Portfolio

    From the Reports’ options’

  5. Select the necessary filters

    Finally, Click on Go

  6. Click on the PDF or Excel button

    Now you can download your Profit and Loss report from 5Paisa

Import Your Trades
File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

Import Your Trades

File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

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 5Paisa?

To download Ledger from 5Paisa, Go to My reports > Ledger. You can view and download your ledger from there.

How to File ITR for Zerodha?

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

Promo Code
Zerodha
Tax Compliance for Zerodha
Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online
[Rated 4.8 stars by customers like you]
Tax Compliance for Zerodha Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online.
[Rated 4.8 stars by customers like you]
Promo Code
Zerodha
Explore Now

Tax P&L Statement Tabs in Zerodha Explained

Therefore, as you can see from your image, your Tax P&L Statement is broken down into 7 different sections:

  • Equity Tax P&L Statement – consists of the following categories:
    • Equity Intraday – Trading in the stock cash market on a same-day basis. Thus, it would mean buying and selling on the same day itself.
    • Equity Delivery – Buying shares and holding them for a certain period of time is called delivery based trading. Hence, the shares you bought will be transferred in your Demat account. This consists of the following 2 sections:
      • Long term trades
      • Short term trades
  • Mutual Funds Tax P&L Statement
    • Debt Funds – Mutual funds that invest in fixed income securities for example bonds and treasury bills
    • Equity Mutual Funds – An equity fund is a mutual fund that invests principally in equity stocks example listed banks’ shares, FMCG, etc.
  • Futures and Options Tax P&L Statement
    • Equity Future – An agreement to buy or sell a specified quantity of underlying equity share for a future date at a price agreed upon between the buyer and seller
    • Equity Options – In essence, equity options work in an extremely similar way to other options, such as forex or commodities. They offer the trader the right, but not the obligation, to purchase (or sell) a set amount of shares at a certain level (referred to as the ‘strike price’) before it expires. To buy an option, traders will pay a premium
  • Commodity Tax P&L Statement
    • Commodities Futures – Agreements to buy or sell a raw material at a specific date in the future at a particular price
    • Commodities Options – Contract permitting the option buyer the right, without obligation, to buy or sell an underlying asset in the form of a commodity, such as precious metals, oil, or agricultural products, at a designated price until a designated date
  • Currency Tax P&L Statement
    • Currency Futures – Futures contract to exchange one currency for another at a specified date in the future at a price that is fixed on the purchase date; see Foreign exchange derivative
    • Currency Options – Currency option is a contract that gives the buyer the right, but not the obligation, to buy or sell a certain currency at a specified exchange rate on or before a specified date
  • Other Credits and Debits
    • This generally includes all charges and credits which are directly not associated with your trading activity
  • Equity Dividends Breakdown
    • A dividend is a token reward paid to the shareholders for their investment in a company’s equity. And therefore, it usually originates from the company’s net profits.

Explanation of Sub-Tabs of the Zerodha Tax P&L report

  • Realized Proft Breakdown
    • Realized profit is the profit that comes from a completed trade; in other words, a trade that has been exited. Realized profit is generally already deposited into the trader’s trading account. And it can be generally withdrawn from their trading account to a bank account.
  • Turnover Breakdown (Scripwise)
    • The definition of turnover is different for each type of trading transaction. Hence, in the case of Intraday Trading, the Turnover equals Absolute Profit. And, Absolute Profit is the sum of all positive and negative differences from all the transactions.
  • Other Debits/Credits including Service Tax
    • The other debits and credits include all charges and credits which are directly not associated with your trading activity. For example: some of the credits and debits can be explained as DP Charges, payment gateway charges, etc.
  • Account Head
    • Account head is generally a name under which particular types of transactions are recorded.
  • Short Term Trades
    • Short-term trading refers to trading strategies in the stock market or futures market in which the time duration between entry and exit is within a range of few hours to a few weeks. Hence it is referred to at as short term.
Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]
Have you invested in F&O and Intraday?
Need helping to file your ITR? Don't worry, we can help you!
[Rated 4.8 stars by customers like you]

Which ITR Form is Applicable to Zerodha?

To file an ITR is an annual process for Zerodha 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 also notified ITR Forms based on different income situations. To know which ITR Form is applicable to you, you can 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.
Explore
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.
Explore

Taxpayers having income from trading need to file ITR-2 or ITR-3 and this is 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 to file ITR for Zerodha

Income Tax Return(ITR) filing is done after the completion of a financial year. So, the 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

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

Tax Audit Applicability for Zerodha

Stock Traders generally trade in shares, securities, commodities and currency through online trading platforms. For Income Tax on tradingEquity 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.
Explore
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.
Explore

The limit for turnover under Section 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 for Zerodha

Any person having income from trading in shares and securities should report it as income from business and profession. Thus, 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.

Import Your Trades
File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

Import Your Trades

File ITR Online

India’s fastest growing Tax Filing Platform

[Rated 4.8 stars by customers like you]

FAQs

How to download the Tax P&L Statement from the Zerodha Console?

You can download the Tax P&L Statement from the Zerodha Console after logging into the portal and navigating through Reports > Tax P&L from the dashboard. Zerodha provides its traders with the option of downloading the Tax P&L Statement for all the segments.

Is Trading Turnover the 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 that is: 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.

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.

Download Ledger from Kotak Securities

Kotak Securities 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. Therefore, this applies to all the segments i.e Equity, Futures, Options, etc. Trading ledger is the same as a Tradebook. One also uses Ledgers to prepare a Profit & Loss statement for Income tax on trading of a particular Financial Year.

Promo Code
Tax Compliance for Kotak Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online
[Rated 4.8 stars by customers like you]
Tax Compliance for Kotak Securities Trader
Are you an Equity, Intraday, F&O or Commodities Trader? Upload your Tax P&L and file Tax Return online.
[Rated 4.8 stars by customers like you]
Promo Code
Kotak

Steps to download the Ledger from Kotak Securities

  1. Log in to your Kotak Securities portal

    You can do it from here.

  2. Go to Services

    Next, click on Account services

  3. Click on View my ledger

    From the Options

  4. Select the necessary filters and Click on Go

    Click on NSE for details

  5. You can now view your Ledger Entries

    From here.

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

Tax Audit is applicable if the turnover of a taxpayer exceeds Rs. 1 cr in a particular Financial year. It is also applicable if the net profit is less than 6%/8% of the turnover. Filing Tax Audit report is compulsory in order to file ITR. The tax Audit report can only be filed by a CA.

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

When an order is placed in the stock market, the details of the order, quantity of the order, price of the order and its unique order number is recorded in the order book. While when an order is executed in the stock market, its execution status and trade number get recorded in the trade book.
Most of the time, orders get executed immediately, therefore, order book and trade book reflects the same.

How to download Tax P&L from Kotak securities?

In order to download Tax P&L from Kotak securities, Log in to the portal. Go to Bill > Profit & Loss. Click on go and then download.