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

[diosys]

I meant to ask if he was a resident and then had a normal savings account then would TDS be charged?

No.................

 

[subi2000]

What if I open an NRO (Non-resident ordinary) account and change the trading account to non-repatriable one?

No.................

 

[diosys]

What if I open an NRO (Non-resident ordinary) account and change the trading account to non-repatriable one?

Confirm with the bank whether they would still deduct the TDS or not....I am unable to help in cases of procedural problems...

 

[pavvu_kk]

Hi,

I have a very basic question: I'm planning to start-off day trading after almost an year of delivery. However, I'm not sure how will taxation happen. Will the applicable tax (STCG) deducted when I buy and sell on exchange? Or will I have to declare other sources of income while filing returns? Not having clarity over this point is really holding me back from going ahead with my trading plans.

Will deeply appreciate if you can clarify.

TIA
Pavan

 

[diosys]

Hi,

I have a very basic question: I'm planning to start-off day trading after almost an year of delivery. However, I'm not sure how will taxation happen. Will the applicable tax (STCG) deducted when I buy and sell on exchange? Or will I have to declare other sources of income while filing returns? Not having clarity over this point is really holding me back from going ahead with my trading plans.

Will deeply appreciate if you can clarify.

TIA
Pavan

STCG is not deducted...it is STT which is deducted and it can be claimed as an expense.

Your other sources of income would need to be included when you file your ITR in order to determine your total tax liability.

 

[shajay12]

For me...i have invested in

Magnum Tax Gain (have seen it given consistent returns, though a bit dwindling now)
Canara Robecco Tax Saver (Good fund)
HDFC Tax Saver (Good safe fund)

Before investing one must understand the investment pattern of the funds...That is how and in which type of companies do they put their money in....Tax funds which put in mid cap companies because of the lock in period are prone to larger loss but quicker and more gains...Hence before picking any ELSS study the investment pattern....The best site for the same i like is value research online...Excellent website.

Hi Diosys,

I want to know every thing about Mutual Funds. Please let me know some resources so that i can learn about Mutual Funds and then i will be able to invest in Mutual Funds.
One of the resources that i came across is this site http://www.sbimf.com/learning_mutualfund.asp#mutualfund

When ever you are free do let me know other resources so that i can learn about Mutual Funds.

Regards,
Ajay

 

[lazytrader]

Hi Diosys,

I want to know every thing about Mutual Funds. Please let me know some resources so that i can learn about Mutual Funds and then i will be able to invest in Mutual Funds.
One of the resources that i came across is this site http://www.sbimf.com/learning_mutualfund.asp#mutualfund

When ever you are free do let me know other resources so that i can learn about Mutual Funds.

Regards,
Ajay

You don't need to learn everything about mutual fund to invest. To manage mutual fund you might need to know.

http://www.amfiindia.com is one site I know of.

 

[diosys]

Hi Diosys,

I want to know every thing about Mutual Funds. Please let me know some resources so that i can learn about Mutual Funds and then i will be able to invest in Mutual Funds.
One of the resources that i came across is this site http://www.sbimf.com/learning_mutualfund.asp#mutualfund

When ever you are free do let me know other resources so that i can learn about Mutual Funds.

Regards,
Ajay

go to valueresearchonline.com..... i find it to the most educative website on MF

 

[shajay12]

Hi Diosys,

Thanks a lot for the reply. I am reviewing the site.

Regards,
Ajay

 

[pavvu_kk]

STCG is not deducted...it is STT which is deducted and it can be claimed as an expense.

Your other sources of income would need to be included when you file your ITR in order to determine your total tax liability.

What happens if I trade on my wife's name and she is a housewife?