Hello,

As we all know long term capital gain tax is free,if i sell shares worth Rs 50 lacs after 1 year 7 days long term cap gain tax is exempted,only STT,SERVICE TAX,BROKERAGE CHARGES will be deducted,i would like to know if i keep the money into the bank,how much tax will the bank cut?will it come under income from other source?how much is the total tx i have to pay?

 

 

 

 

 

@sirdon: As per financial year 2009-10, interest earned on a bank deposit in excess of Rs 5,000 p.a. will attract TDS at 10 % (excl. cess @ 3%). You need to also disclose such interest earned under the head 'income from other sources', which is taxable at normal income tax slab rates.