Hi,
My query is regarding capital gains & tax liability thereon.
Suppose, status of A is -Major individual(not senior citizen) has joint DEMAT account with B wherein first name is of A. A is not having any source of income but B is earning income by way of other sources etc. A invests in shares (in listed shares on recognised stock exchange) and makes short term capital gains which total amounts to less than 10000. since A is not having any other income his total income will fall below slab & Short term capital gains are taxed as per slab rates, this is being gains on shares will it chargeable to tax? Is A is required to pay any tax , if any How? Should A file the IT return?
regds
CAclubindia
