Tax liability on short term capital gain
This query is : Resolved
26 December 2012
Hi experts
Please check the income statement for the year 2012-2013 & tell me what is the tax liability.
Salary& allowance 180000
Commission 100000
Short term
Capital Gain 30000
Interest on FD 25000
Total 335000
What will my tax liability.My doubt is that what is the tax liability on the short term capital gain ( realized from mutual fund trade not through stock exchange)
Regards
Rajesh
Please check the income statement for the year 2012-2013 & tell me what is the tax liability.
Salary& allowance 180000
Commission 100000
Short term
Capital Gain 30000
Interest on FD 25000
Total 335000
What will my tax liability.My doubt is that what is the tax liability on the short term capital gain ( realized from mutual fund trade not through stock exchange)
Regards
Rajesh
S Sivasalapathy
(Expert)
26 December 2012
STCD tax rate is 15%.
305000 - 10,500
30000 - 4,500
Cess - ,450
Total - 15,450.
305000 - 10,500
30000 - 4,500
Cess - ,450
Total - 15,450.
26 December 2012
Hi Sivasalapathy
Thank you very much for your fast reply.Please answer one more question shall I get a capital gain statement from each fund house at the end of the year else it will be very difficult to calculate.
Regards
Rajesh
Thank you very much for your fast reply.Please answer one more question shall I get a capital gain statement from each fund house at the end of the year else it will be very difficult to calculate.
Regards
Rajesh
S Sivasalapathy
(Expert)
27 December 2012
Yes. Statement can be received from each house.
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