2007-06-20 03:05:32 · 3 answers · asked by merrygohappy 1 in Business & Finance ➔ Taxes ➔ India
Yes, it call interest income from dividends. The tax man get a percentage. For example you make $100. The man get say 10% which is simply $10. So what you really put in your pocket is $90.00.
Make you wonder why the government can't afford to fund anything worth anything?
2007-06-20 03:12:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Sort of. Income you make from dividends and such are subject to income tax. Money you make from trading stocks is actually taxed as capitol gains. You would include that in the appropriate section of your annual tax return filing, so for practical purposes you could consider it income tax. However different tax rates and slightly different rules apply to capitol gains.
2007-06-20 10:15:41 · answer #2 · answered by Michael C 7 · 0⤊ 0⤋
yes, you will need to file a 1099 form.
2007-06-20 10:14:01 · answer #3 · answered by pxp608 4 · 0⤊ 1⤋