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 Topics :
- Revising salary on 24Q Q4 FY 25-26
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
Related Topics :
CAclubindia
