Calculation of Income Tax on Short term Gains
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2011
Hi ,
While computing Income from Short term Share trading Do We take into account The Service Tax, Securities Transaction Tax,Delivery charges by the Broker into account.
Suppose I bought a share @ Rs 10
and sold it a Rs 12 . In the meantime the STT,Service tax , delivery charges add up to Rs. 0.50
so my net profit from this sale is Rs. (12-10-0.5)=Rs. 1.5
or is it
Rs. (12-10)= Rs. 2
Income tax is to be paid on rs .1.5 or Rs. 2
While computing Income from Short term Share trading Do We take into account The Service Tax, Securities Transaction Tax,Delivery charges by the Broker into account.
Suppose I bought a share @ Rs 10
and sold it a Rs 12 . In the meantime the STT,Service tax , delivery charges add up to Rs. 0.50
so my net profit from this sale is Rs. (12-10-0.5)=Rs. 1.5
or is it
Rs. (12-10)= Rs. 2
Income tax is to be paid on rs .1.5 or Rs. 2
07 July 2011
We can take all charges chaged by the broker except STT while calculating capital gain/ loss.
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2011
Sir,
So does this means I have to pay taxes on all charges including Delivery charges , brokerage charges,Service tax except STT ?
So does this means I have to pay taxes on all charges including Delivery charges , brokerage charges,Service tax except STT ?
08 July 2011
You have to pay tax on Rs.1.5.You have to add STT to the profit and have to pay tax. If Stt is Rs 0.1 out of Rs o.5. Your Profit would be 1.6 and has to pay tax on that
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