To respected members of CAclubIndia,

I have recently invested small capital in stocks. I am in need for detailed guidance on STCG as I am a short term investor. I have no other sources of Income. Here are my questions. Hope my questions gets resolved.
1) What is the exact step of calculating capital gain i.e what to include/exclude e.g. STT, edu cess, SAH, brokerage etc?

2) As per provisions of 111A if I have STCG of less than 2 lacs and If I don’t have any other sources of income, do I become eligible to pay any taxes on this STCGs ?

3) Suppose, I do make STCG in excess of 2 lacs, say total 3 lacs, then how much tax I should pay ?
Is it 15% of 3 lacs or 15 % of 1 lac %(considering exemption upto 2 lacs)

4) Within what time frame I should pay such tax ? Is it next day immediately OR as per Advance Tax calendar which is 1st-15th Sep, 2nd-15th Dec, 3rd-15th Mar.

5) Which challan should I use to pay such tax and in favor of whom?

6) Is ITR-2 is the correct form to file yearly return if I only have income from capital gains ?

7) Suppose, I make a profit of 4 lacs and deposit tax accordingly with the tax dept. But what if subsequently I make a loss of 10 lacs which translates into yearly net loss of -6 lacs (10-4).Won't I be at a loss as well as I have paid advance tax on capital gains that I've lost since then? What should be the next step, either demand a refund or file a return for carry forward losses or both? I feel its not right to pay tax if you haven’t earned anything.

8) Is it allowed to net all gains and losses and pay the tax if any on 31st March only, so question of underpaying or overpaying does not arise?

9) Is there any excel sheet which I can use to tabulate the data on capital gains and keep track of it?

Please bear with me for asking many questions but I can not find a single credible place to resolve the questions as there seems to be many opinions and endless debates on this issue. I am sure many new investors’ faces these questions but unable to depend on any answers. Any help would be extremely appreciate for many small investors.

Many thanks in advance.

BgSE Financials charges stamp duty, servicetax,stt,other charges,brokerage,DP charges,delay payment charges. VYSYA Bank DP also charges DP charges. Which of these can be added to basic shareprice to arrive at cost of acquisition? Which of these can be treated as expenditure on transfer?(both under section 48)

Dear All,
please let me know the difference between company deductees & non company deductees while making the TDS payment.

When will ITR 5 TO ITR 7 OPEN FOR ASST YEAR 2012-13.

IF THERE IS ANY EXTENSION IN DUE DATE OF RETURN FILING DUE TO THE DELAY IN OPENING OF ITR 5 TO ITR 7.

sir,
can u plz send me the circular or circular number issued by the authority vide which individual assessees are not liable to deduct tds while making commision payments,if their turnover from business & proffession does not exceed 60 lakh during the previous year ie, their accounts are not liable to audit during the previous year

I HAVE LOST MY TDS CHALLAN AND I COULD NOT REMEMBER THE EXACT TDS AMOUNT THOUGH I HAVE DOWNLOAD THE CHALLAN DETAILS FROM OLTAS BUT I COULD NOT GET THE EXACT AMOUNT OF TDS WHICH WAS DEPOSITED. HOW I WOULD GET THE INFORMATION OF EXACT TDS AMOUNT, IF ANYBODY KNOWS THE FACT PLEASE SOLVE THIS ISSUE.

I opened a SAVINGSPLUS a/c in SBI six months back..Tenure is 5 years. They have shown ACCRUED interest in a statement as on 31 march 2012 in a loose sheet, but not in passbook.Should I ignore this as income of f/y 2011-12(as I am following CASH method of acctng) and show entire interest for 5 years at the time of redemption? If yes,should I treat this interest exempt upto Rs. 10,000 for f/y 2012-13(may be in subsequent years also if same exemption cotinues) while computing total taxable interest at the time of redemption? SBI staff have no clear answer

Dear Sir,
please suggest me tds of april will be deposited on or before 7th may,but we have not deposit on due date & now we are depositing on 5th of july than interset would be cahrgable 2 mont or 3 month.

is the int on saving account taxable??

is there any exemption limit??

under which section it is taxable???

thanks in advance..

Dear All,
we are sale coal fines on 3rd July 12 agt which party submit declaration form 27C in duplicate,against which we have not deducted TCS, i wants to know wheath we are required to file TCS Return and where to submit form 27C as party provided singale form 27C for the financial year 2012-13 wheather it will be submitted every month or yearly,

Regards,
Ashish