I am paying income tax at 30% tax slab. I am also trading in NSE share market and paid STT service transaction tax, brokerage,stamp duty and other charges.
I have following income tax clarification. Could you please clarify my queries?
1) I have received 1:1 equity bonus shares. Actually it is split of actual shares. Share value become after issuing bonus.
Example : XYZ company issues 1:1 equity bonus shares. Before bonus share value was Rs. 210/each after bonuse amount become Rs. 105/each
Is this amount is taxable? What is the percentage of tax.
2) I have received dividend for equity shares. Is the dividend amount taxable? What is the percentage of tax?
3) I bought some share with some rate and sold less rate in FY 2010-11. Example bought 100 for 80/each and sold 100 for 60/each.
Means 8000-6000 = 2000 loss. Is it possible to substract 2000 from my taxable income (I am in 30% tax slab)
4) I bought some share with some rate and due to less current market price I did not sell same financial year, ie FY 2010-11 and kept in my demat account.
Example bought 100 for 80/each = 8000. Is it possible to substract 8000 from my taxable income?
5) I have also paid following charges
Brokerage charges
Transaction charges
Security Transaction Tax (STT)
Education Cess(2%)
Higher Education Cess(1%)
Stamp Duty
Demat charges for IL&FS & NSDL
Internet charges
Share buy/Sell tips subscription charges
Is it possible to subtract all the above charges from my taxable income?
6) What is short term capital gain income tax % for FY 2010-11?
Thanks in advance
I have following income tax clarification. Could you please clarify my queries?
1) I have received 1:1 equity bonus shares. Actually it is split of actual shares. Share value become after issuing bonus.
Example : XYZ company issues 1:1 equity bonus shares. Before bonus share value was Rs. 210/each after bonuse amount become Rs. 105/each
Is this amount is taxable? What is the percentage of tax.
2) I have received dividend for equity shares. Is the dividend amount taxable? What is the percentage of tax?
3) I bought some share with some rate and sold less rate in FY 2010-11. Example bought 100 for 80/each and sold 100 for 60/each.
Means 8000-6000 = 2000 loss. Is it possible to substract 2000 from my taxable income (I am in 30% tax slab)
4) I bought some share with some rate and due to less current market price I did not sell same financial year, ie FY 2010-11 and kept in my demat account.
Example bought 100 for 80/each = 8000. Is it possible to substract 8000 from my taxable income?
5) I have also paid following charges
Brokerage charges
Transaction charges
Security Transaction Tax (STT)
Education Cess(2%)
Higher Education Cess(1%)
Stamp Duty
Demat charges for IL&FS & NSDL
Internet charges
Share buy/Sell tips subscription charges
Is it possible to subtract all the above charges from my taxable income?
6) What is short term capital gain income tax % for FY 2010-11?
Thanks in advance