IFSC & MICR Codes - Avoiding high value investments in equity to avoid IT notices. in Personal Finance - If for eg. a person wants to invest Rs 12 Lakhs in an equity stock by doing small multiple transactions ...
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11-01-2018 07:10 PM
Avoiding high value investments in equity to avoid IT notices.
If for eg. a person wants to invest Rs 12 Lakhs in an equity stock by doing small multiple transactions of Rs 99000/- or of Rs 25000/- each, ie not exceeding the upper limit of Rs 1 Lakh in a single purchase in stocks to be reported, then will these transactions be reported as the sum exceeds Rs 10 Lakhs, but as the sum or aggregate is not of Rs 1 Lakh each but of less than Rs 1 Lakh. Please help and guide how to avoid scrutiny.
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12-26-2018 01:33 PM
Hi Praveen,
As long as your annual income explains the possible savings and investments made and built in equity, you should be fine ....
Do consult a CA Auditor and look to file returns and include your trades and investments as well in IT Filing ... You can try and use Urbanclap to find a CA Auditor nearby
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