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Tax

Discussion in 'Traders Coffee Shop' started by prafuldasariya, Sep 19, 2012.

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  1. prafuldasariya

    prafuldasariya New Member

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    Please write something on income tax need to be filed on intrady,short term and long term gain.expecting with a realistic example.
    Thank you
     
    prafuldasariya, Sep 19, 2012
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  2. shabbir

    shabbir Administrator Staff Member

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    The calculation is pretty simple when it comes to cash market.

    Day trading - 30% on Net profit annually
    Delivery Based - 15% on Net profit annually
    Long term Investment of Above 1 year - No Tax.

    You can carry forward your losses for 8 years provided you file your return before July 31 of the next year.

    Do let me know if I have any mistake Sanjay Sansanwal.
     
    shabbir, Sep 19, 2012
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  3. tarak_desai

    tarak_desai New Member

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    Right person to answer this :)
     
    tarak_desai, Sep 19, 2012
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  4. shabbir

    shabbir Administrator Staff Member

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    shabbir, Sep 19, 2012
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  5. sanjay_sansanwal

    sanjay_sansanwal Contributor

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    Absolutely right.
     
    sanjay_sansanwal, Sep 19, 2012
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