Tax for short term stock gains

Hi,

I am working in an MNC Company, I purchased a stock and sold within an year. The profit i got from the stock is around 900 INR. From my calculation it shows 144 INR is taxable. How can i pay this amount?

1. Shall i be able to pay seperatly apart from company firm? if yes How to pay? online link for paying tax.

2. Shall i be able to show this in "Other source of income" from my organization firm? if what are all the documents i need to include?

Thanks in Advance

Regards,

M. Kalidoss

Replies (1)

Stock is a capital asset and you will be liable to "Short term capital gain" since it was sold within a year.

You can give these details to your employer and they can deduct tax accordingly

Alternatively you can also pay self assessment tax u/s 140A on this by using challan No. 280

Online Payment ?

 https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp

 

No documents are required to be submitted while filing the return, the AO can ask these documents when he may require

 

Am further citing S. 48 for the computation purpose

" S. 48

The income chargeable under the head "Capital gains" shall be computed, by deducting from the full value of the consideration received or accruing as a result of the transfer of the capital asset the following amounts, namely :—

(i) expenditure incurred wholly and exclusively in connection with such transfer;

.......

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