Tax on equity dealing
This query is : Resolved
25 September 2012
Dear Members..
Its very urgent & please guide....
While trading in call and put options at NSE, which types of taxes i have to bear or whether earned profit shall be treated as short term capital gain tax?
Thanks
Its very urgent & please guide....
While trading in call and put options at NSE, which types of taxes i have to bear or whether earned profit shall be treated as short term capital gain tax?
Thanks
25 September 2012
Only Service tax (ST) and Security transaction tax (STT) and Turnover tax (TOT) are applicable in derivative trading.
If U are Day trader => Business Income
If delivery based trade => Short Term or Long Term depending upon holding period.
If U are Day trader => Business Income
If delivery based trade => Short Term or Long Term depending upon holding period.
25 September 2012
thanks for ur prompt reply sir...
but i want to know what is the rate of turnover tax and what is day trader...
thanks for ur prompt reply sir...
but i want to know what is the rate of turnover tax and what is day trader...
25 September 2012
No idea about rate of TOT.
Day trader means purchase and sale of shares or derivatives by squaring the positions on the same day without carrying any positions to next trading day.
Day trader means purchase and sale of shares or derivatives by squaring the positions on the same day without carrying any positions to next trading day.
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