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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Income Tax on Share Market Investment

Income Tax on Share Market Investment

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1Income Tax on Share Market Investment Empty Income Tax on Share Market Investment Tue Apr 28, 2020 1:39 pm

tmpf87


Stock Trader
Hi,

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.  

Any advice? 

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???

Teller

Teller
Moderator
Moderator
i never paid. Why should we pay even? When we buy and sell ,
CDS,CSE,Stamp,brokerage,blaaablaa,so many taxes


_________________




Teller said is said..

kasun_gimhana

kasun_gimhana
Manager - Equity Analytics
Manager - Equity Analytics
As far as I know, the capital gains and losses are exempted from income tax. If they Taxed the capital gain they have to allow to claim the losses too. Everybody knows what will happen then because nobody making gains from SEC lot of losses will be there to claim. LOL

anges


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
we pay the highest tax in the world per transaction

tmpf87


Stock Trader
Great. Thanks for your explanations.

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