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What are tax implications on a Demat account Do we have to pay tax for what we gain through share trading

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 aliya bhat asked over 3 years ago

What are tax implications on a Demat account Do we have to pay tax for what we gain through share trading

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CHITRANJAN AGARWAL answered over 3 years ago

Dear Adhya, Yes, you have to pay tax on your income which is earned by you by trading in stock market through your dmat account. as per the provision of income tax act 1961, every assessee is liable to pay tax to the govt on his whole income which is earned by such person during the previous year. So if you earn any income by trading of shares than you are liable to pay tax on such income. Any other query feel free to contact us. Writer CA Chitranjan Agarwal

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