Hi I have query suppose I am trading with any person on profit sharing basis . And if he demand 60:40 then how can I pay as I am already paying 30% tax and short term capital gain is also 30% taxable after giving 40% to him I left with very less. Any way to tackle that situation . I am salaried employee
Menu
Need help on taxation
Replies (1)
60: 40 is the ratio for sharing profits between you & him. i.e. both of you jointly earn say 100 Rs. After division you get say Rs. 40/-
Now 30% tax will be charged over this Rs. 40 gain, which will be around Rs. 12/-
Finally net gains in your hands after taxation will be Rs. 28/-
Recent Topic
- LTCG on unlisted foreign shares acquired in inheri
- SBI Funds Management IPO Allotment on July 17: Lis
- PF Final settlement shown in Salary Form 16 FY 26-
- ITR3 online utility: Part B TTI is populating fiel
- Sale of rural agriculture land
- How to show Capital Gain on gifted property
- TIS Glitch Alert : inflated summary
- IT returns of partners
- Challan status in Payment Failed but amount deduct
- Sec 54 exemption
Related Topics
CAclubindia
