I have my own demat account and i am trading in that account.. I am unemployed. My father gave me rs 20,000 for me to invest or trade in stock market. i have traded and made an profit of rs 7000 over 3 months time. whether i need to pay short term capital gain tax? since i am unemployed, i won't even fall under rs 1.5 L slab.
Menu
tax on short term capital gain?
Replies (4)
madhan, you are not required to pay short term capital gain tax as your normal income is below exemption limit i.e. Rs. 150000 and in that case, u/s 111A you are allowed to set off the deficiency that you faced in your normal income with short term capital gain. In the case your short term capital gain exceeds the exemption limit during the year, then, you are requried to pay tax.
NOT REQUIRED.....................
thnx tinku
Recent Threads
- RCM List on GST
- Resignation of Previous Auditor
- Summary of GST Notification 18/2025 (Effective 1 N
- Heard & Seen Around – Your Daily Economi
- ITC restriction for Food manufacturing units
- Consortium Partnership: GST and TDS query
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
- Shall I pay GST payment for unkonwnly cancelled in
Related Threads
CAclubindia
