1. DIYTechnicalAnalysis is a private community of traders and investors interested in building wealth from Indian equity market. You can become a member with a one time registration fee of ₹199. Click here to become a member

Income Tax

Discussion in 'Traders Coffee Shop' started by bharatdadlani, Apr 12, 2013.

  1. bharatdadlani

    bharatdadlani New Member

    Joined:
    May 3, 2012
    Messages:
    17
    Likes Received:
    3
    Hi,

    I have a question regarding Income Tax, how an Income Tax related to Shares Trading is being calculated? To show our income or loss while filing an income tax, how it is generally be calculated? Is income tax calculated on total value of trade transaction or only on either profit or loss made out of any trade?

    If we show total profit or loss made during a year will be sufficient to file an income tax?

    If someone guide me on this it would be great help.

    Thanks in advance.

    Bharat
     
    bharatdadlani, Apr 12, 2013
    Share #1
  2. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    Taxation is simple. Pay tax on your profits less expense.

    Tax slab on intraday or FnO is 30% of your profits and for delivery based cash market it is 15%.

    If you hold anything for more than 1 year then those profits are tax free.

    Expenses include brokerage charges, STT and others that your brokers charge you like Demat account charges and ...

    I hope this makes things somewhat clear for you but it is always better to be consulting a CA for taxation
     
    shabbir, Apr 13, 2013
    Share #2
  3. bharatdadlani

    bharatdadlani New Member

    Joined:
    May 3, 2012
    Messages:
    17
    Likes Received:
    3
    Thanks Mr. Shabbir,

    Its clear to me. As you said better to consult CA as well.

    I am happy to be a member of Forum. Lot many things to learn from you & members.

    Regards,

    Bharat
     
    bharatdadlani, Apr 13, 2013
    Share #3
  4. shabbir

    shabbir Administrator Staff Member

    Joined:
    Apr 30, 2012
    Messages:
    6,699
    Likes Received:
    1,940
    The pleasure is all mine Bharat.
     
    shabbir, Apr 13, 2013
    Share #4