I am a salaried professional and i have gains from shares trading which i bought in January 2016 and sold shares on April 2017.if i am correct it falls on Long term capital gains (kindly confirm). If so, how that gain amount of Rs 5000 will be taxed? If not in capital gains how it will be taxed. If i do not need or need to pay Tax for that specific income do i need to mention that in ITR?
My mother has gifted property in 1982. Property is in dilapidated condition & I intend to sell the prop for Rs 15 lac or so, What would be Capital gain on said property. Alternatively I can show prop as gift to my elder brother will it be taxable
He makes some money in short term and speculative trading, but looses money in Futures and Options.
Charges incurred during the process:
a) Brokerage on sale and purchase.
b) Service Tax on brokerage.
d) Stamp Duty
e) Other charges( Sebi turnover charges etc)
f) Demat Charges.
g) Interest on margin trading.
My question are:
1)which items from the above can be deducted from the trading income. I understand STT is not deductable, what about others. Specially the interest paid is a huge amount which turns all the trades into a loss.
2) Can the F/Q loss be carried forward? If not, can it be crossed with some other income?
Please provide relevant sections if you know them.
In addition to my salary income i have sold my agriculture lands of 4 acres which amounts to 40 lakhs INR, should i pay any additional taxes for this sale or TDS deducted from employeer is sufficient to proceed filing?
Hello, I just wanted to know I have purchased bonds in foreign currency when I was in USA. Now I am a resident Indian. I have sold that Bond in 16-17 but I have not repatriate foreign currency in India. I just want to know whether I will liable for Capital Gain. I have purchased that Bonds three years back.I also inform you that from selling amt I have also reinvested some amount in Bonds. For Eg If I have sold 100 US$ bonds then I have invested 90$ and remaining 10$ is net proceed but not repatriate in India. Whether these amt is liable for capital gain as fluctuation of foreign currency.
Hi, I have purchased a share of X company via delivery option (STT paid) at 10 Rupees and then sold the share X after holding for few days/ months with in the same financial year for 12 Rupees. I re invisted 12 Rupees in share of Y company delivery option(STT paid) and I still hold the share in my DMAT.Should I pay income tax on the capital gain of 2 rupees ( 12-10) even though I hold share Y which I purchased with the profit I have made from the sale of share X.
Hello, I purchased land property worth 35 Lac and in the same year I have received land property from inheritance(Fathers property) whose market worth is 50 Lac. Then both property are consider under capital gain?
I understand that LTCG can be availed for certain investments (such as equity, traded bonds etc) after completion of 12 months. Instead of completing 12 months, can LTCG be availed if the investments are sold in the next financial year. For instance, if the equity is bought in January 2017 and sold in May 2017 (next financial year), can one avail of LTCG?