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

[lazytrader]

Sir I am an stock investor of Delivery based

So is capital gains system applicable ?

my second query is if i sold before 1 year what value of stock would require me to file tax( would that limit of 1,50,000/- per year applicable as iti is only source of Income). I have no other sources of Income.

My profession is given as student in the PAN details and I am presently unemployed (graduated in april-09)

Depending on the holding duration and number of transactions only you can tell if you can file under capital gains.

if it is capital gains then it would be taxed at 15% for excess above 1,50,000.
How many trades have you done and what is your avg holding period?

 

[diosys]

Sir I am an stock investor of Delivery based

So is capital gains system applicable ?

my second query is if i sold before 1 year what value of stock would require me to file tax( would that limit of 1,50,000/- per year applicable as iti is only source of Income). I have no other sources of Income.

My profession is given as student in the PAN details and I am presently unemployed (graduated in april-09)

Yes capital gain applies to you....

I would again suggest file your ITR irrespective of your income....

 

[riser3]

Is the 1.5 Lakh Mentioned profit or is it turnover.

Thanks for ur quick & prompt reply lazytrader and diosys

 

[magnet]

1.5l income he meant.......if your income is below 1.5l than stcg shdnt be applied.....but once it reaches 1.5l limit than profit is charged at 15%

right diosys sir?

 

[diosys]

Is the 1.5 Lakh Mentioned profit or is it turnover.

Thanks for ur quick & prompt reply lazytrader and diosys

it is the basic exemption limit.

 

[diosys]

1.5l income he meant.......if your income is below 1.5l than stcg shdnt be applied.....but once it reaches 1.5l limit than profit is charged at 15%

right diosys sir?

absolutely correct magnet....

I am finding that slowly my thread is making many of you here as part time tax consultants....its nice !!! :thumb::thumb:

So trading from 9:55 to 3:30 and balance time tax consultancy.... :lol::lol:

 

[magnet]

absolutely correct magnet....

I am finding that slowly my thread is making many of you here as part time tax consultants....its nice !!! :thumb:
So trading from 9:55 to 3:30 and balance time tax consultancy.... :lol::lol:

AAh naa sirjee

What i learned from here is a penny save is penny earned...

to be frank from 2003-2006 i didnt used to care a damn abt investing and all.....And used to file returns thinking my CA doing a wise thing for me...

Than i understood..when i dont help myself..how can a CA will help me.....
seeing without a penny invested i used to pay taxes every now and than...later for grasping knowledge from google i landed here.....

And now i m happy its never too late to get knowledge...

Btw how much i must charge sirjee :lol:


AAh waisa i had a question..but i need to see the thread properly to see if that have been answered b4 or not...doesnt want to repeat stuffs....its regarding split share sold within a year stuff.....stay tune..lolz

 

[diosys]

AAh naa sirjee

What i learned from here is a penny save is penny earned...

to be frank from 2003-2006 i didnt used to care a damn abt investing and all.....And used to file returns thinking my CA doing a wise thing for me...

Than i understood..when i dont help myself..how can a CA will help me.....
seeing without a penny invested i used to pay taxes every now and than...later for grasping knowledge from google i landed here.....

And now i m happy its never too late to get knowledge...

Btw how much i must charge sirjee


AAh waisa i had a question..but i need to see the thread properly to see if that have been answered b4 or not...doesnt want to repeat stuffs....its regarding split share sold within a year stuff.....stay tune..lolz

I am pretty sure Magnet this thread is making a lot of your CA's a confused lot when you guys would be confronting them with the answers rather than queries.... :thumb::thumb:

Charges ... Hmm...FROM YOUR CA ???? :clap::clap:

 

[diosys]

GUYS....

GET READY TO ROCK !!!

HEARD THAT THE NEW INCOME TAX CODE HAS BEEN UNVEILED......

God knows what new dumb provisions would be incorporated....

Would let you all know as soon as i have the copy of the code....

 

[Smart_trade]

GUYS....

GET READY TO ROCK !!!

HEARD THAT THE NEW INCOME TAX CODE HAS BEEN UNVEILED......

God knows what new dumb provisions would be incorporated....

Would let you all know as soon as i have the copy of the code....

diosys...

I read your posts with great interest...you have good command on Tax Laws relating to trading ,investments,capital gains etc....best wishes for the good work....

Smart_trade