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In this short video, we'll address your burning questions about money management, savings tips, investing strategies and much more. Let's go!!!
Q. “Is it mandatory to “show” our capital gains (say 1 lakh) even if it is our only source of income and the total income is not more than 2.5 lakh? Is it illegal not to file your taxes? »
A. Yes, you must show your statements.
Which means you have to file your taxes.
Even if you are not entitled to capital gains tax, you must prove it.
By declaring your taxes, you demonstrate that you do not owe any tax on the capital gains you have made.
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Disclaimer: All videos made on this channel are for educational purposes. Investing and trading in the stock markets is a risky business, so please do your own research or consult your financial advisor before investing.
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