How tax liability is computed in the following cases:
1.) Suppose I have profited 20 lakh rupees from my share investments in FY (2020-2021), and after selling those shares I bought other shares
a) in the same FY (2020-2021)
b) in next FY (2021 - 2022)
Do I have to pay taxes because I have reinvested the profits but did not withdraw it to the bank account ?
2.) Suppose 20 lakh profits were invested in a property
a) in the same FY (2020 - 2021)
b) in the next FY (2021 - 2022)
In this case off course money is withdrawn to the bank.
The liability to pay tax shall arise in the year in which the shares are sold and profit is earned irrespective of re-investment. Unless the investment was made to claim an exemption under certain sections. Hence in your case, the liability to pay tax shall be in FY 2020-21.