Regarding share trading profit and tax calculation

Dear Divakar,

1. Income from share trading comes under "Income from Capital Gains".

2. Net amount (Net sales and net purchase amount) will be taken into consideration.

3. There is nothing like Cost Inflation Index (CII) while calculating Income for Shares Trading. There are only 2 things in Shares Trading.. either you will have LTCG which is exempt from Tax... or you will have STCG on which CII is not availble.

Regards,

CA Lovely Arora

ca.lovelyarora @ gmail.com

+91-9891400405

Dear Divakar,

1. Yes, for short term capital gains, you have to pay tax @ 15% (for F.Y. 12-13 also).

2. For getting Net amount, refer to the Contract Notes you get on your mail/physically.
The purchase amount would include brokerages, STT, stamp duty etc... and similarly, sale amount would exclude brokerages, STT, stamp duty etc...
So, to get the net amount of your capital gains, refer to the contract  notes you get on your every transaction... every purchase and sale.. there is a column in the contract note, which compute Net Sales and Net Purchase for you.... so, go for it...
Or go the website of the DP you are having account with... e.g. Sharekhan, Angel Broking, Reliance, Indiabulls etc..... you may also ask from the Representative of the same website assigned to you.
or you may browse through the website and get the amount of your Capital Gains. I have account in Sharekhan, i can explain to you how to get the amount of CG there... but not sure about other DPs.... for others, you have to do it on your own.


Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
+91-9891400405

Hi,

Can you please help me for how to get the CG data for last one year from Sharekhan account?

Thanks,

Bhavin