Hi,
I hope everyone in this forum has reaped benefits of the bull run, but alas the time for taxes has come. I trade through ICICIDirect and have made decent profits in the current financial year. I have a few questions regrading taxation.
1. How much is the short term tax on equity (sold within an year) - 10% ?
2. What documents do i submit as proof of my purchase,sale and profit - Prints of digital contract notes are ok ?
3. Can I balance trade losses against my profits. Can i include day trade losses.
4 What about STT. Can i remove this from my net tax payable.
Whats the best idea for tax filing, get a consultant or do it myself. I have a job and my company gives some form showing all my income form salary.
Suggestions and comments please.
- Partha
PS: Sorry if i posted this in the wrong forum.
I hope everyone in this forum has reaped benefits of the bull run, but alas the time for taxes has come. I trade through ICICIDirect and have made decent profits in the current financial year. I have a few questions regrading taxation.
1. How much is the short term tax on equity (sold within an year) - 10% ?
2. What documents do i submit as proof of my purchase,sale and profit - Prints of digital contract notes are ok ?
3. Can I balance trade losses against my profits. Can i include day trade losses.
4 What about STT. Can i remove this from my net tax payable.
Whats the best idea for tax filing, get a consultant or do it myself. I have a job and my company gives some form showing all my income form salary.
Suggestions and comments please.
- Partha
PS: Sorry if i posted this in the wrong forum.