Feedback

Tax on shares bought from debt



I have bought shares from icici direct which gives me power to buy 4 times the worth of my capital and took delivery upto 180 days(Buy now and pay after 180 days with Flexicash Product). I have paid all the capital that they have given me with earned money from trading with interest(18%). But i haven't sold my shares.
Scenario:

Original Capital is 1,00,000 capital
ICICI Direct had given 3,00,000....altogether 4,00,000 worth shares bought from Account 1( ICICI Direct ) on Feb 1st 2017.
Also traded with other capital of 10,00,000 and made profit of 3,60,000 from Account 2 ( Zerodha ) starting from Feb 5th 2017 to Jan 1st  2018. 
Cleared 3,00,000 + (18% interest) 54,000 given by icici direct of Account 1 from profits of Account 2.
I was remained with 6,000 of profit for the whole year and i haven't sold my shares to keep them as long term investment.
Question:

Do i have to pay tax? If yes, to what i have to pay tax? My shares are still held in my demat account and not sold at the end of that financial year. I have only made a profit of 6,000 on both accounts after paying 3,54,000 for the bought shares to ICICI Direct.

Thanks in advance.
 

 
Reply   
 

LEAVE A REPLY

Your are not logged in . Please login to post replies

Click here to Login / Register  

 


×

  CCI MENU