I have a demat account with a bank from where i bought shares since april2012-till today, i want to know that how to file a tax return for gains in such shares in a year as currently my demat account is showing a profit of 27000rs and current shares loss of 25000rs.i have invested a 150000rs in this year.Should i have to pay tax on this amount or which amount.Kindly suggest me the write thing
Asked on 3/10/13, 7:42 am
1 Answer from Attorneys
Jayesh Desai
Jayesh Desai
Gain shown in the demat account would be dividend earned, dividend is tax paid by the company; hence not taxable in your hands, but you still need to disclose in your tax returns.
Unless you sell the shares, there is no need either to pay tax on Gains (Capital Gains) or you cannot take advantage of loss (Capital Loss).
Answered on 3/12/13, 9:31 am
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