Fire your tax related queries and i would get it solved!!!
Hello Sir, I have 2 questions:
Q1: For day traders, most brokers charge STT (security transaction tax) for all intraday transactions. I think that STT is now mandatory by law for all stock market transactions. Now (as u said earlier), as a day trader if I have to pay Tax at the regular 30% rate, can I set-off (deduct) STT while calculating my net profit/loss?
Q2: While filing the IT return, do I have to submit the details of each and every transaction carried out daily for the whole year ?? (!!! If thats the case whose gonna pay for the cost of printing those 300 or so sheets
)
Q1: For day traders, most brokers charge STT (security transaction tax) for all intraday transactions. I think that STT is now mandatory by law for all stock market transactions. Now (as u said earlier), as a day trader if I have to pay Tax at the regular 30% rate, can I set-off (deduct) STT while calculating my net profit/loss?
Q2: While filing the IT return, do I have to submit the details of each and every transaction carried out daily for the whole year ?? (!!! If thats the case whose gonna pay for the cost of printing those 300 or so sheets
)
Hello Sir, I have 2 questions:
Q1: For day traders, most brokers charge STT (security transaction tax) for all intraday transactions. I think that STT is now mandatory by law for all stock market transactions. Now (as u said earlier), as a day trader if I have to pay Tax at the regular 30% rate, can I set-off (deduct) STT while calculating my net profit/loss?
Q2: While filing the IT return, do I have to submit the details of each and every transaction carried out daily for the whole year ?? (!!! If thats the case whose gonna pay for the cost of printing those 300 or so sheets )
Q1: For day traders, most brokers charge STT (security transaction tax) for all intraday transactions. I think that STT is now mandatory by law for all stock market transactions. Now (as u said earlier), as a day trader if I have to pay Tax at the regular 30% rate, can I set-off (deduct) STT while calculating my net profit/loss?
Q2: While filing the IT return, do I have to submit the details of each and every transaction carried out daily for the whole year ?? (!!! If thats the case whose gonna pay for the cost of printing those 300 or so sheets
)
A2: Nope, that is not required...Simply put in the total sale value and purchase value...Please note that for intraday transactions the sale value is not the actual sale value but the profit or loss for the day...refer to my earlier posts for clarifiction...
Hi diosys ,
i am a salried employee also Doing intraday regulerly...As per my understanding i have to file ITR 4 as intrady will come under Buseness income..i also do Short term trading..
Now can i square off my losses with my profits (ex if i profit 25000 & loss 35000)..
Also you mentioned we can Deduct the STT (is this both for loss & profit)
Thanks for your patience in providing details for so many people...
regards
Nithin
i am a salried employee also Doing intraday regulerly...As per my understanding i have to file ITR 4 as intrady will come under Buseness income..i also do Short term trading..
Now can i square off my losses with my profits (ex if i profit 25000 & loss 35000)..
Also you mentioned we can Deduct the STT (is this both for loss & profit)
Thanks for your patience in providing details for so many people...
regards
Nithin
Sorry Gabbar....there is no such common answer which can be given....There can be several reasons why the refund has not been issued....
Nevertheless what i would suggest is that try to meet the commissioner of Income tax in your city and put forward your case...Maybe he would be able to help you...
Otherwise hire a able professional in your city so that he may be able to expediate the refund.
Nevertheless what i would suggest is that try to meet the commissioner of Income tax in your city and put forward your case...Maybe he would be able to help you...
Otherwise hire a able professional in your city so that he may be able to expediate the refund.
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