Does any of you pay income taxes on Share market investment?
As per the 2020 Tax guidelines only 1.2 M' per annum exempted for expenditure incurred for the purchase of equity or security.
Since the payee tax is abolished now employees also need to open tax file to Pay income taxes if the annual (employment income + bonus) is more than Rs. 3 million.
So then all other incomes like House rent, FD interest etc also should be mention in the expected earnings report ideally....
Does IRD get out investment details from stockbrokers? As everything is linked with NIC???