I am a salaried person and also have an investment in shares. My total income during this year is R…
I am a salaried person and also have an investment in shares. My total income during this year is Rs 750000 where profit on sale of shares is only 20000. Do I need to show the profit on shares in filing return as it is negligible?
Yes, you have to file a return showing your detail income on the proper head.
As you have a salary income of Rs 730000 and a capital gain of 20000, you have to show your total income separately while filing a return ie. under head salary and business income/capital gain*.
*Further, tax on the sale of shares depends on the purpose you held them for.:
If you have held them as investment, then long-term or short-term capital gain shall be calculated as per the period of holding. If these are held for the trading purpose, it shall be calculated as business income.
