Earned capital gains? Here is why you should not hide it from tax department

Individuals who have earned capital gains on investments need to mandatorily declare it when filing their income tax return. Those who do not disclose it may get into trouble. Here's why

Income tax officials will have direct access to information related to capital gains from the sale of mutual funds, dividends received on shares and interest earned by investors on bank and post office savings/deposits starting from the current financial year. Non-declaration of such income can get you into trouble as taxmen will have complete access to any capital gains you have made. In a notification issued last month, the income tax department asked stock exchanges, depositories, clearing corporations and registrars to issue and share transfer agents among intermediaries that will be required to provide details of any capital gains made on listed securities and mutual funds.