Tax
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
(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
(Querist)
26 May 2017
what is date of pay tax , and which challan
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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
(Expert)
26 May 2017
Also File your Income Tax Return in order to avoid future Notice.
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