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Tax return

Namit Jain (Prop) (47 Points)

24 March 2017

i am a hose wife and my annual income is Near about Rs. 150000 from tution to kids. and my annual profit from share market is 25000 (Short Term Capital Gain). that means total annual income is 150000+25000 = 175000. would be there any tax on me?

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8 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 24 March 2017

Mahesh Bingi (Tax return preparer) (457 Points)
Replied 24 March 2017

Hi,

No TAX applicable on your income. But file the IT return as good as for you.

1 Like

Akhil (Student CA ) (966 Points)
Replied 24 March 2017

Hi,
may I know whether security transaction tax(STT) is paid while selling the shares????

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 25 March 2017

@ Akhil: Yes, if transacted through registered stock exchange.

Dwaipayan Paul (Ca final) (1767 Points)
Replied 25 March 2017

No tax up to 2.5lakhs

Akhil (Student CA ) (966 Points)
Replied 25 March 2017

@ dhirajlal:am askng that whether namit jain has paid the stt while selling the shares,,,,,,if she pays then STCG should b taxed at special rate?
that s wat my query is....

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 25 March 2017

@ Akhil: You are correct, but its levied only if the total income including STCG would have exceeded the basic exempted limit.

MANOJ A (Passion) (52 Points)
Replied 25 March 2017

I Agree with Mr. Dhirajlal Rambhia , As the capital gain doent exceed Un-Exhausted Basic Exemption Limit , no need of paying Tax ( irrespective of Whether STT paid or not).