I am an Individual tax payer, i work for a private company. i do trading at BSE through ICICIDirect.com. when i sell shares ICICIDirect charges GST. when i am paying GST, do i need to declare the profit from trading in my returns as income from other sources and pay for LTCG also ?
my question is why pay for GST then declare income from other sources and also LTCG ?
please advise
can i get a clear response please ?
my question is simple. when my broker is charging GST on my profit after selling my shares do i have to pay tax like LTGC and declare profit as income from other sources when filing IT returns ?
| Originally posted by : Manish | ||
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You have to declare it as capital gains. |  |
pay GST ? pay income tax ? pay tax on LTCG ? really ??
if i buy stock for 1,00,000 and sell for 110,0000 make a profile of 10,000 , how much should i pay as LTCG ?
if i make loos do i have to declare LTCG ?
| Originally posted by : Manish | ||
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Don't be surprised with the taxes. We pay taxes in our daily life many times, directly or indirectly. About the gain, if it is long term: no income tax, if short term: added to your other income and charged as per tax slab rates. If there is loss, only short term can be adjusted with your other income like salary, house property, business, etc. | |
consider GST is added for every buy and sell of shares
if i buy stock for 1,00,000 and sell for 110,0000 make a profit of 10,000 , how much should i pay as LTCG ? and how much ?
again
if i buy stock for 1,00,000 and sell for 90,0000 make a loss of 10,000 , how much should i pay as LTCG ? and how much ?
CAclubindia
