aliya bhat
asked
What are tax implications on a Demat account Do we have to pay tax for what we gain through share trading
0
0
Answer Now
Comment
Report
1
Answers
Important Note – Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures – online & in Pen Drive/ DVD – at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below –
For any questions Request A Call Back
CHITRANJAN AGARWAL
answered
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
