What about income tax when got credited ₹4000000 (40l)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

31 October 2017 I invested one of well known private company of ₹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

Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 November 2017 ask the company to share the details for "how they have accounted for these transactions" - the accounting accounting could vary from interest income, debenture redemption, professional income etc.

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