Fire your tax related queries and i would get it solved!!!

[diosys]

diosys sir...my querry is related to tax and have already shared here......can u please share a light on it

http://www.traderji.com/insurance/26635-did-i-mess-up-ulip.html#post278196

Dear,

Please inform your specific query with facts of the case (policy value, premium paid etc)....Though to inform you that the article you attached explained the tax deduction rightly.

 

[diosys]

Hello Diosys,
I would like to know all the details about forex trading taxation in India?
Basically would like to know the rules and regulations in India regarding forex trading by individual and taxes levied on it.
If you can enlighten me on this would be really of help as i havent recieved an appropriate answer for this yet.
Thank you

Dear,

I am a taxation expert and can only guide you regrading the matters therein. I am not aware of the regulatory framework for trading in forex....

One thing which can be stated is that forex trading would be taxed at lower rate of taxation like shares, it would be taxable at the full rate of taxation ....

 

[orderflow13]

Hi,
I usually dont manage my tax issues, so my qs might be immature, just curious to know so could readjust my strategies in future......I have some long term investments in shares, but those shares are pledged in brokers account, on that said shares i have written option calls regularly and so i have gains in derivatives sections , now my qs is 1) will those holding shares which been pledged still falls under long term investment as those are in my demat account since many years 2) if so is it there a way so i can set off my short term capital gain tax by losses of long term investment? ( a i think taxation rates are different for different types of capital gains )
Thanks in advance
Alex

 

[drsacha]

Hi all....

I thought a lot of our traderji members would be having taxing issues...Hence i am launching this thread for people who wish to seek some advice on issues pertaining to Income Tax or Service Tax....

I would try to solve them to the best of my ability and knowledge....

See Ya all....

I have salaried income and tax is deducted at source for me. Also have some tax being paid on my Fix deposits. I also buy shares most for fun of it. But this time got around in trouble due to market conditions. Need your help understand is there any way to compensate my losses in stocks with the tax paid on my salary when I file my returns. I have no gain this year in stocks, it is all loss.

Tried going throught this thread but counld not get the details.

 

[TFL]

Hi,
I usually dont manage my tax issues, so my qs might be immature, just curious to know so could readjust my strategies in future......I have some long term investments in shares, but those shares are pledged in brokers account, on that said shares i have written option calls regularly and so i have gains in derivatives sections , now my qs is 1) will those holding shares which been pledged still falls under long term investment as those are in my demat account since many years 2) if so is it there a way so i can set off my short term capital gain tax by losses of long term investment? ( a i think taxation rates are different for different types of capital gains )
Thanks in advance
Alex

Diosys,

Also consider this while answering to alex question.

Some % of interest is charged for the money loaned by pledging.

Haribird.

 

[asim_52]

I have some doughts about tax related to share market

Hi,

I live in India Bangalore I have an account in GCI financial online share trading account and I need to withdraw some amount, my worry is will that amount be applicable for tax in India if I receive the money to my Indian account.

And also please help me to understand how to calculate the tax amount receive from outside Indian account. Is there any limit of receiving amount from other share account outside India? If so where can I see the tax slabs and calculation for the same?

If I receive money from GCI accounts to my Indian account, will that amount be applicable for tax if so please advice me how to do it.

Thanks in advance,
Asim

 

[sons]

sir,
i have a ppf account for past 2 years and saving 70,000 per year for tax savings. is it legally possible for me to open one more account(in the same bank) in the name of my child for whom i will be the guardian?
This second one is for savings and not for tax savings.
can you please clarify it?

 

[sanyad74]

Hello Guys!
I have a query. Recently one of my friend got the explanatory letter from

Tax department of Rs 100000 one time deposit in back in 2004.

Tax department also mentioned to produce the proof from where this money came?

He is a farmer and he only has income of agriculture or his saved money only.

In this case what document should he produce to Income tax department to satisfy Tax department.

Have a nice day ahead!

 

[Boona]

Diosys.....whats ur email id? Would like u to look at my tax papers and help me file it

plz respond

 

[sanyad74]

Hello Guys!
I have a query. Recently one of my friend got the explanatory letter from

Tax department of Rs 100000 one time deposit in back in 2004.

Tax department also mentioned to produce the proof from where this money came?

He is a farmer and he only has income of agriculture or his saved money only.

In this case what document should he produce to Income tax department to satisfy Tax department.

Have a nice day ahead!