About share income
This query is : Resolved
23 December 2014
one of my friend had bought shares and he is not a tax payee and do not file itr .so i want to know if his shares total value is 67000 and he earned profite of 7000 in a year what is his liability of tax
his total income by profession is 160000
23 December 2014
if he was buying and selling shares during the year then its his business income and file itr4 a only net profit (total sales - total purchase of shares) shall be taxable.
23 December 2014
you can file itr-4 business income and profit from share sales under the capital gain.
your income is below exempt income the no tax liability will arise.
your income is below exempt income the no tax liability will arise.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- LTCG for Assmt year 26-27
- E way bill for tractors
- Suggestions required for income tax filing-software (FY 2025-26)
- Loan by Partnership Firm
- Plot of land. Cost of Acquisition
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
