annual income from salary is 180000.
annual FD interest is Rs 22000.
Bought shares of a listed company n sold within 12months n profit of Rs 2000(approx).
do I have to pay short term gain on 2000 though my total income from all sources is less than 2.5 lacs..
if yes how much ?
can I deduct expenses incurred on making a profit of Rs 2000 (like AMC charges pd to demat ac, internet charges etc.). Plz guide
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Aplicatbility of short term capital gain
Replies (7)
No Tax liability........... GTI including STCG is below BEL.
Thanks sir. I had one more query can u plz share ur mobile no.
incase the total GROSS income crosses BEL,. Can I deduct AMC charges, internet charges which are expenses made for earning the STCG.? I am thinking of booking some profits but not done due to NON CLARITY..
For capital gains........ AMC charges in ratio of other holding scriptts can be deducted; brokerage deduction allowed, but no other such related expenses.
OK Thanks
Most Welcome..
Rambhia sir as you stated "AMC charges in the ratio of other holding scripttts can be deducted". Will you please elaborate it, may be with an example. This ratio will be based on total holding as on date or holdings bought in that particular year or holding sold in that particular year. Also for ratio purpose only procured / sold value to be taken into account or with other charges like STT, GST, Brokerage, Stamp Duty, Demat Charges, etc.
Suppose AMC charged (incl. 18% GST) per year is Rs. 590.00 Someone bought shares as follows:
Year 2018-19: Company A: Rs. 10,000, Comapy B: Rs. 5000, Company C: Rs. 20000
Year 2019-20: Company D: Rs. 6000, E: Rs. 8000, F: Rs. 25000
Sold: Co. B for Rs. 8000, D Rs. 5000
Year 2020-21: Company G: Rs. 10000, H: Rs. 15000
Sold Co. A: 15000, Co, H: 12000
Please clarify.
AMC charges in ratio of other holding scriptttts can be deducted
Read more at: https://www.caclubindia.com/forum/aplicatbility-of-short-term-capital-gain-432452.asp
Read more at: https://www.caclubindia.com/forum/aplicatbility-of-short-term-capital-gain-432452.asp
AMC charges in ratio of other holding scriptttts can be deducted
Read more at: https://www.caclubindia.com/forum/aplicatbility-of-short-term-capital-gain-432452.asp
Read more at: https://www.caclubindia.com/forum/aplicatbility-of-short-term-capital-gain-432452.asp
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