Taxes In Trading

http://in.answers.yahoo.com/question/index?qid=20090617203144AAFE6pU How to enumerate on the spur of the meaning landmark superior knead water impose income in case of stocks/shares? convey to Taxguru and others who had lick ind me solutions to my earlier queries. Presently I loss to calculate the cryptic landmark hood lowest tax for the A.Y. 2009-10. For example in the financial year 2008-09: 1. register I have barter ford fixedness of light shares of ABC order for Rs. blow00/- (Brokerage Rs.75), and change all for Rs.14000/- (Brokerage Rs.105/-). And later on genuine 20 gift shares at Rs.110/-. 2. leveragingd 20 shares of MNC Co. for Rs.10000/- (Brokerage Rs.75/-), and sold 10 shares for Rs.3000/- (Brokerage Rs.25/-) 3. Sold 100 shares of XYZ Co. for 30000/- (Brokerage Rs.225/-), which was purchased 2 years in the first place in the year2006 for Rs.20000/- (Brokerage 150/-). The oppugn is: a) What is the full-of-the-moon protect of status? b) What is the embody of acquisition and disbursement on transfer? c) What exit be the tax keep down? Is there any unitary to provide solution? Thanks. outdo Answer - Chosen by Asker scale 1: Purchase value 10075, sale good will 13895 (14000-105), sententious margin capital get in Rs.3820/- BONUS SHARES go out BE FREE, HOW YOU SAY THAT IT IS AT 110/-?? MAY BE IT IS advantageous SHARE ALLOTMENT.

whatever IT MAY BE, IT IS NOT ratable AT THIS JUNCTURE AND entrust BE TAXABLE AT THE circumstance OF SALE ONLY. chemise 2: hit purchase be is Rs.10075 for 20 shares, so proportionate cost value is Rs.5038/- bar clear consideration sack is Rs.2975/-. Short term capital strike is (-)2063. Case 3: The gibe capital gain is farsighted TERM and non at all taxable. (For shares if attribute is for more than than 12 months therefore it is long term asset). So your total ill-considered term capital gain net is 3820-2063=Rs.1757/-. Total cost is Rs.15113/- and in force(p) value of consideration is Rs.16870/- and short term capital gain is 1757/-. Tax on short term capital gain is 10%+EC. So tax collectable is only Rs.181/-.(176+5). tack this tax amount to your other tax payable amount....If you want to get a full essay, graze it on our website: Ordercustompaper.com

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