Tax implications on short selling of shares..
This query is : Resolved
Guest
Guest
(Querist)
02 January 2012
what are the Tax implications on Short Selling of shares on short term? Do they come under Short Term Capital Gains?
02 January 2012
Generally, gains rarely arise in such cases, but it will be the case of STCG/STCL.
03 January 2012
If the shares are sold within 12 months of acquisition, then the shares will be short term capital assets. Accordingly, gain or loss on sale of such shares shall be short term gain or loss.
Such STCG is taxable @ 15%. Further, deduction u/s Chapter VIA (80C, 80D, 80E, etc.) are not available against such income.
Such STCG is taxable @ 15%. Further, deduction u/s Chapter VIA (80C, 80D, 80E, etc.) are not available against such income.
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- 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
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
