Loss/profit on trading of nse bse share
This query is : Resolved
20 June 2015
I WANT TO KNOW THAT PROFIT IN SHARE IS TAXABLE FOR LONG TERM AND OR SHORT TERM
AND LOSS IN TRADING OF BSE NSE SHARE CAN BE CARRIED FORWARED.
AND LOSS IN TRADING OF BSE NSE SHARE CAN BE CARRIED FORWARED.
20 June 2015
dear sanjay
if shares are traded on any stock exchange the STT is paid on sale.
in such case long term capital gain is exempted from income tax u/s10(38), only short term capital gain is taxable.
Short term capital gain can be carried forward for upto 4 assessment years.
if shares are traded on any stock exchange the STT is paid on sale.
in such case long term capital gain is exempted from income tax u/s10(38), only short term capital gain is taxable.
Short term capital gain can be carried forward for upto 4 assessment years.
Message likes :
1 times
20 June 2015
just a small correction: Short term capital Loss (not gains) can be carried forward for upto next 8 assessment years
However, any speculative loss on account of trading in shares without taking delivery can be carried forward only for next 4 assessment years and be used for set-off against speculative income only.
However, any speculative loss on account of trading in shares without taking delivery can be carried forward only for next 4 assessment years and be used for set-off against speculative income only.
Message likes :
1 times
20 June 2015
thanks nikhil for correction
my mistake.
mix up the provisions
my mistake.
mix up the provisions
Message likes :
1 times
22 June 2015
Thanks for answer, I Just want to know what is STT?
22 June 2015
STT is security transaction tax.
When you buy or sell any shares listed on stock exchange STT is paid.
Your stock broker itself deduct the stt.
When you buy or sell any shares listed on stock exchange STT is paid.
Your stock broker itself deduct the stt.
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
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- 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
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
