FD to STOCK MARKET investment

This discussion explores the income tax implications of moving funds from Fixed Deposits (FDs) to the stock market. The user is seeking clarification on potential tax liabilities, particularly concerning interest earned on FDs exceeding £40,000, and how stock market investments, especially those above £10 lakh, are reported to the Income Tax department via SFT transactions in Form 26AS. They are also concerned about needing to explain their source of income for substantial stock market investments.