Calculation of capital gain
This query is : Resolved
ROHIT SHARMA
(Querist)
14 July 2018
I have made many transactions in shares including intra day and short term. I am unable to calculate tax on these. Can you please provide a format or utility where I can calculate the tax on these transactions?
14 July 2018
It you are regularly trading, income is to be offered under the head'income from
business or profession' for which a profit and loss account and balance sheet has
to be prepared. Then compute the taxable income from the result of the P & l.
Ps:- itraday trading comes under 'speculation business'.
business or profession' for which a profit and loss account and balance sheet has
to be prepared. Then compute the taxable income from the result of the P & l.
Ps:- itraday trading comes under 'speculation business'.
ROHIT SHARMA
(Querist)
14 July 2018
It is difficult for me to maintain balance sheet and profit & loss statements. If I want to offer it under short term capital gains head, how can I calculate it
Rahul varshney
(Expert)
16 July 2018
just go through your contract notes issued by your broker, you;ll find almost all detail...
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