Income tax calculation on capital gains from stocks

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Hello Experts, Please clear my doubt regarding Capital Gains calculation from shares:- Suppose I have Bought and Sold 3 Shares in FY 2015-16(Not Intraday), They are as follows:-

S.No. Scrip Buy Price Buy Qty Buy Value Sell Price Sell Qty Sell Value Profit/Loss

1.      A       100          50          5000        120           50          6000        +1000

2.      B        200         50          10000       100          50           5000        -5000

3.      C        500         50           25000       600         50           30000       +5000

In the above scenario, how will I calculate my Capital Gains whether it is (+1000-5000+5000=+1000) or is it (+1000+5000=+6000 and I have to adjust loss in the appropriate place?) Please answer. Thanks in advance.

Replies (2)

If the profit & loss pertains to same year, then method 1 i.e. 1k - 5k + 5k = 1k

However, if the same pertains to different years, then method 2.

 

Correct me if I am wrong.

Thanks Pakshal for the reply, I was also thinking on the same line. So if this pertains to the same financial year, loss can be adjusted to profits and in case profit is greater than 250000 but after adjusting losses it comes below that limit then it is NOT necessary to file Income Tax return right?


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