Tax on shares trading in india


But I also tax on shares trading in india to be a working professional and been filing only ITR 1 and 2 till this time. The best way to pay advance tax is by paying tax for that particular time period, so Sept 15 th pay for what was earned until then, and by March 15 th close to the year end, you can make all balance payments as you would have a fair idea on how you will close the year. Sir, My wife salary was just 1.

How to show them my traded details? NSE short term trades overnight delivery trades if shown as a business income, can be. Click here to learn more.

My turnover in delivery based trading is 95 lacs and for intraday trading is 9 lacs. Turnover is less than 1 crore and am in loss of 1. Now if Trader goes thru Audit thru CA and Auditor also tax on shares trading in india same 4 Lakh as the actual profit then whether trader now can pay tax on 4 Lakh at the rate of

No since you have no taxes to pay. Speculative losses can be carried forward for 4 years, and can be set-off only against any speculative gains you make in that period. My income for salary is Rs. Yeah, you will need to use ITR4 technically and get it audited.

Check the chapter on turnover. I have a specific question. At the end of the day, my account will continue to have shares and I come out with a profit of Rs.

The taxes you are paying is transaction tax. Excellent module on taxation. Your CA can best guide you further with the procedure. Can u help me out with the ITR form no i am supposed to file my return in this case? Am i required to prepare profit and loss account and Balance Sheet?

No since you have no taxes to pay. Short term turnover if shown as capital gains, no audit requirement. I did some trading and have losses of around I have opted for online assessment processing as my ward is Bangalore.

These big names costs a lot to customers like what airtel has done so far. Check out the chapter on turnover. I never did it till date. Tax refunds are processed in quick time by IT department.

It is absolute tax on shares trading in india of all profits and losses. Does STT and brokerage and other charges which are charged on a transaction have to reduced from the transaction value to arrive at sale and purchase price. If at all i have to file, then which ITR is best to use and how can my above transactions business or short term to be shown to make things simpler and to avoid CA or audit? Once again thank you for the prompt reply.

Taking a shortcut like this could mean a lot of trouble if called for an IT scrutiny. Which ITR form i have to use. If advance Tax has to be paid then what form to be used for payment. You can claim a tax refund if you end up paying more advance tax than what was required to pay for the financial year.