Regarding shares

i have invested in equity share 2 yrs back but not shown in IT returns Iam a regular tax payer can i disclose them now
Asked 7 months ago in Income Tax from Hyderabad, Telangana
Yes u can show now. 
Vidya Jain
CA, Kolkata
261 Answers
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Dear Sir,

Investment in equity shares need not to be disclosed. However, when you sale those shares, then it has to be disclosed in the ITR.

Further, if you sale the shares after 1 year then there is not tax on listed shares, only disclosure is required.

Please feel free to call/revert in case of any doubts

Thanks and Regards
Abhishek Dugar
CA CS B.Com
Abhishek Dugar
CA, Mumbai
1574 Answers
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hi,
you have invested in shares and it is long term, you need not to disclose the investment.
But need to disclose dividend income under exempt income, 
When you sell shares than  you just need to disclose  it,  there is no capital gain tax on listed  shares held for more then a year.
if you are holding non listed shares then also at the time of selling these shares you need to pay capital gain tax and show it in IT return in the financial year in which you sold those shares.

No, there will be no scrutiny. 
Vishakha Agarwal
CA, Bangalore
399 Answers
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Which ITR form u filled 
Lalit Bansal
CA, New Delhi
220 Answers
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No need to show any transaction at the time of purchase, unless your gross income is in excess of Rs. 50 Lacs.

However required details need to be show at the time of sale and accordingly tax computation need to be done.
Vishrut Rajesh Shah
CA, Ahmedabad
564 Answers
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Hi, you need not disclose Purchase of Shares. However, whenever you sell the shares, there will Capital Gain/Loss which has to be disclosed.

Trust this clarifies your query
Pradeep Bhat
CA, Bengaluru
329 Answers
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Sir if the investment is out of known sources then there will not be any problem. Also if you have sold shares in any of the previous years then you need to check whether return can be revised
Shyam Sunder Modani
CA, Hyderabad
1363 Answers
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Hello Sir,

Which ITR do you file normally ?

Trust this clarifies your query. 

Feel free to call / get back in case of further clarifications. 

Thanking You. 

Regards,
Rohit R Sharma
BCOM, ACA, LLB-GEN, CERT. FAFP
Rohit R Sharma
CA, Mumbai
1456 Answers
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