Share Trading Income Requires Income Filing Despite Capital Gains Tax Payment

During a joint parliamentary session on Monday, Finance Minister Dr. Prakash Sharan Mahat presented the budget for the upcoming fiscal year 2080/81 in the federal parliament.

Finance Minister Dr. Prakash Sharan Mahat on Monday evening said that even if the capital gains tax received during share trading has been paid, the income has to be filed while presenting the annual estimates (budget) of revenue and expenditure for the financial year 2080/81 in the Federal Parliament.

If a Nepali citizen declares income from share or real estate trading from FY 2076/77 to 2078/79, until Chaitra, 2080, the 50 percent tax levied tax in accordance with Income Tax Act, 2058 will be waived.

The tax on income earned from trading of real estate or shares for previous fiscal years will be waived for Nepali citizens, in line with the arrangement.

The constitutional requirement mandates the budget to be unveiled on Jestha 15 each year, following the presentation of the ruling coalition government's policies and programs on Jestha 05.