I have liquidated all FD and invested in stock market.
1. What is income tax implication arises due to this.
2. I have read that above 10L investment in stock market, my demat account bank will report to Income tax.
2 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 21 September 2021
The interest received on FD in excess of 40000 rupees is taxable as other sources
vikas garg
(MBA)
(140 Points)
Replied 21 September 2021
Thanks Sir....
I have 25L in stock market and planning to put another 25L.
Will the stock market investment will be visible in 26AS form as SFT transactions?
and for that shall i have to explain my source of income while filing ITR.?
OR i can invest as much as in stock market without worrying about IT implications ?
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