How to calculate the combined Tax calculation for multiple Demat accounts

Income Tax Income from Business or Profession
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how to calculate the combined Tax calculation for multiple Demat accounts

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Hi @Chettan_V

Quicko is a DIY (Do it Yourself) tax planning and filing platform.
On Quicko, you can import trades from your brokers and your taxes are automatically calculated.

So, here’s how you can prepare your Income Tax Return on Quicko & proceed to E-file .

For expert assistance with your taxes, here’s how you can book a MEET

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To calculate the combined tax liability for multiple Demat accounts, follow these steps:

  1. Determine the gains or losses incurred in each Demat account during the tax year. This includes profits from selling securities, dividends received, and any other taxable events.
  2. Calculate the total gains or losses for each account separately.
  3. Add up the gains or losses from all Demat accounts to determine the total combined gains or losses for the tax year.
  4. Apply the appropriate tax rates based on the type of gains (long-term or short-term) and the applicable tax laws in your jurisdiction.
  5. Sum up the tax amounts calculated for each account to obtain the combined tax liability for all Demat accounts.
  6. Ensure compliance with tax reporting requirements and file your tax returns accurately, including the combined gains or losses from all Demat accounts.

It’s advisable to consult with a tax professional or financial advisor for personalized guidance based on your specific circumstances and applicable tax laws.

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