Understanding Tax Filing for Kotak Securities Traders:

Kotak Securities provides a Tax P&L Report summarizing trading activities. Traders should choose ITR-2 for capital gains or ITR-3 for business income.

Separate statements are needed for equity, derivatives, and mutual funds. Key components include cost basis, proceeds, and square-off details.

Deadline for filing ITR is July 31st for non-auditable individuals. Tax Audit under Section 44AB applies if turnover exceeds Rs. 5 crore.

Differentiate business income (like intraday trading) from capital gains. Ensure accurate turnover calculation for tax audit applicability.