hi
my question is
my salary income in fy 2013-14 is Rs. 170000 & i got profit on equity share interday trading is Rs. 40000.
so i liable to pay tax
kindly reply quikly
JITENDER SINGH BISHT (ACCOUNTANT) (60 Points)
16 April 2014hi
my question is
my salary income in fy 2013-14 is Rs. 170000 & i got profit on equity share interday trading is Rs. 40000.
so i liable to pay tax
kindly reply quikly
As your total taxable income excluding STCG is below the threshold taxable limit Rs 170000/-, then such shortfall can be adjusted against STCG. The balance STCG will be taxed at 15% plus education cess.
Rs 10000/- will be taxed at Rs 15% + education cess.
(I have assumed that you have paid STT and traded through RSE.)
Rahul jain
(LEARNING & TEACHING)
(435 Points)
Replied 16 April 2014
NO U WILL NOT LIBLE TO PAY TAX.....
MORE CLEARANCE READ SECTION 87A of it act.....
Mihir
(Wealth Manager)
(5293 Points)
Replied 16 April 2014
No tax payable on salary. Tax payable at special rate 15% +cess for STCG.
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 16 April 2014
no need to pay tax because of rebate u/s 87 A
(assuming that figures you have given is on actual basis)
dhruvika
(Account Executive)
(32 Points)
Replied 16 April 2014
Jagadish
(Student)
(368 Points)
Replied 16 April 2014
Rahul jain
(LEARNING & TEACHING)
(435 Points)
Replied 16 April 2014
as clear by jagdish.....
no tax.....
Arvindkumar R Jain
(Article)
(22 Points)
Replied 16 April 2014
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2010 Points)
Replied 17 April 2014
87A overrides 111A. one will get benefit of section 87A on the income of special rate of tax
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