Tax on share profit
This query is : Resolved
Navin Daga
(Querist)
18 April 2015
Dear Experts
Kindly advise if there is any direct tax on share profit , for e.g. : I applied for shares in the inox share application recently . my application amount was 13,950/- and after the shares were allotted , I sold them and realised 19,000/- . hence I made a profit of 5050/- so what amount of tax I will have to pay on tis profit .
Also is share profit not a part of the general income which I earn throughout the year in terms of taxation.
Kindly advise if there is any direct tax on share profit , for e.g. : I applied for shares in the inox share application recently . my application amount was 13,950/- and after the shares were allotted , I sold them and realised 19,000/- . hence I made a profit of 5050/- so what amount of tax I will have to pay on tis profit .
Also is share profit not a part of the general income which I earn throughout the year in terms of taxation.
CA R SEETHARAMAN
(Expert)
18 April 2015
This is short term capital gain on which 15% tax is payable provided your other income exceeds basic exemption limit.
Rupesh Jain
(Expert)
18 April 2015
tax will be 15% if your another income exceeds the exempt limit
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