What about income tax when got credited profit of investment in private company?

Q & A Forum › Category: Investments › What about income tax when got credited profit of investment in private company?

issachannure asked 8 years ago

I invested one of well known private company of Rs 4000000 (40L). I got profit of 40L. Company is following RBI guidelines and Paying GST and other taxes. Do I need to pay tax of profit/return for 40L which I got Credited in bank account. Please suggest and inform what should I do needful ?

1 Answers

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Sreekanth Staff answered 8 years ago

Hi, Are you referring to stock investment in a company or as a private investment in a business? It is a taxable income. But the treatment can vary depending on factors like whether you have given it as a loan or are you part of this company etc., Suggest you to kindly consult a Chartered Accountant in this regard!