Loss/profit on trading of nse bse share
This query is : Resolved
Sanjay I Thacker
(Querist)
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.
Ankur Singhal
(Expert)
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.
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Nikhil Kaushik
(Expert)
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.
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Ankur Singhal
(Expert)
20 June 2015
thanks nikhil for correction
my mistake.
mix up the provisions
my mistake.
mix up the provisions
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Sanjay I Thacker
(Querist)
22 June 2015
Thanks for answer, I Just want to know what is STT?
Ankur Singhal
(Expert)
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.
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