How can i show my zerodha investment in income tax

Stocks
1

My annual income is 7lk per annum . I have invested 3lk in equity this year . So my query is what is the best way to cut my tax and can i show this 3lk investment while i file my tax

2

@Quicko

3

@ashutosh_padhy

For FY 2019-20 following are the tax implications:

  1. If this investment is made in ELSS scheme then deduction up to Rs. 1,50,000 is allowed u/s 80C. And the remaining salary i.e, Rs. 5,50,000 (7,00,000 - 1,50,000) will be taxable income at slab rate. Hence you might end up with a refund of excess TDS deducted on Rs. 7,00,000. No other benefit is allowed on investment.
  2. Any dividend income from equity investment will be exempt from taxes.
  3. Capital Gain will arise only when you sell the investments.

Note: In FY 2020-21, your dividend income will be taxable if its more than Rs. 5,000 and TDS on the same will be deducted @10% u/s 194K.