Short term capital gains- share market
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 March 2017
Hello Sir,
I am a software professional doing a job.
I do share trading as investor. short term and long term both.
If my short term turnover exceeds 1 crore i.e.
If my sell side transactions for short term exceeds 1 crore
is it mandatory that I need to undergo audit ?
Without audit, if I mention in my return, sell side turnover , cost of improvement, shares bought price
and profit and pay tax accordingly , will it be sufficient ?
please clarify.
regards,
s m
I am a software professional doing a job.
I do share trading as investor. short term and long term both.
If my short term turnover exceeds 1 crore i.e.
If my sell side transactions for short term exceeds 1 crore
is it mandatory that I need to undergo audit ?
Without audit, if I mention in my return, sell side turnover , cost of improvement, shares bought price
and profit and pay tax accordingly , will it be sufficient ?
please clarify.
regards,
s m
08 March 2017
As you are an investor Tax audit not applicable to you. Pay 15% tax on short term capital gain on sale of shares. Yes it is sufficient. What is the cost of improvement.
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