Tax

Save Share

This query is : Open

JITENDER SINGH BISHT (Querist)

26 May 2017 if i got profit in short term capital gain of Rs. 40000/- for Fy 2016-17 , so what tax amount on profit and who will liable to pay tax , brokerage CO. or individual , what is last date of tax deposit or any penalty

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)

26 May 2017 Tax chargeable @20% i.e 8000/- & u have to pay tax. In case u have other income less than basic exemption limit then balance is deducted from capital gain income.

JITENDER SINGH BISHT

JITENDER SINGH BISHT (Querist)

26 May 2017 what is date of pay tax , and which challan

Message likes : 1 times

Studentsca

Studentsca (Expert)

26 May 2017 Presumed that STCG is on listed shares AND STT is paid. Tax @15℅ on Rs 40,000/- I.e Rs 6,000/- plus 3 ℅ Education Cess. You will have to Pay Tax on the same in the Quarter you have earned Short Term Capital Gain. since last Date of payment was 31st march, 2017, therefore Interest will be payable on the above. No penalty.

Studentsca

Studentsca (Expert)

26 May 2017 Also File your Income Tax Return in order to avoid future Notice.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now