Do I pay tax when I sell shares?
Yes, dividend income is considered taxable income and must be reported on your income tax return. Contrary to the misconception that dividends are tax-free because the company may have already paid corporate taxes, dividends are fully taxable in the hands of the investor. You are required to include the total dividend amount received during the financial year as "income from other sources." Depending on the tax laws in your region, this income is taxed according to the applicable income tax slab rate for your total annual earnings. Furthermore, companies are often required to deduct Tax Deducted at Source (TDS) at a specific percentage if the aggregate dividend payment to a shareholder exceeds a certain limit. You must report this gross dividend income in your tax filings, though you may be able to claim credit for the TDS already deducted by the company, effectively reducing your final tax liability for the year.
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