Purchase of shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2014 Dear Expert,
I am a salaried person. For the Financial year 2013-14, I have purchase shares of Rs 60,000 through Demat Account. All shares hold during the financial year.
What is the tax effect of salaries.

Pl advice.

Thanks.

chetan soni

chetan soni (Expert)
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28 March 2014 Till you don't sell the share there will be no impact. The gains at sell point will calculated as short term & long term. Based the income (short term or long term) the tax liability will be calculated.

Querist : Anonymous

Querist : Anonymous (Querist)

02 April 2014 Thanks Sir

I have make sale of shares transaction on 28.03.14 and settlement date 03.04.2014 amount receivable to my demat account.

what is tax effect for the financial year.

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