Dear Experts,
As the Sep15 Deadline is nearby, I have a query on payment of advance tax for STG (short term gains) from stock trading. After a long time, in this cycle I have some gains! But the amount of gains is far less than my accumulated losses in the previous years.
I assume that I need to pay any advance tax for STG only when my gains surpass the total previous losses. So what is the correct legal position on this matter?
Also as I am unemployed, I am not getting any major income apart from some Bank Interests.
Please clarify.
Regards,
Harsha Vardhana R
CAclubindia
