Rakesh Kumar (IT - System Administrator) (46 Points)
17 November 2012Hello,
What is dirrent between delivery turnover and derived turnover in Share market, What will effect on income TAX.
M. N. JHA
(CA)
(8316 Points)
Replied 17 November 2012
Delivery whic u trade in equity and Derviatives means F&O trading.
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 17 November 2012
I THINK NO EFFECT
AS PROFIT OR LOSS FROM BOTH THE TRADING IS TAXABLE OR ALLOW UNDER INCOME TAX
Income Tax Wala: (Fin. Expert)
(Chartered Accountants)
(2015 Points)
Replied 17 November 2012
ONE MORE THING
IN EQUITY THERE MAY BE SHORT TERM OR LONG TERM GAIN / LOSS
IF IT IS LONG TERM GAIN THAN IT IS NOT TAXABLE (SUBJECT TO THAT WE ARE PAYMET STT)
IF THERE SHORT TERM LOSS THAN IT CAN BE SET OFF DURING THE CURRET YEAR UNDER ANY OTHER HEAD OF INCOME
IF THERE IS LONG TERM LOSS THAN IT CAN BE SET OFF ONLY FROM LONG TERM GAIN
AND IN F& O THERE IS GENERALLY ALWAYS SHORT TERM GAIN/LOSS
GAIN IS FULLY TAXABLE AND LOSS CAN SET OFF
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