Taxes In Trading

http://in.answers.yahoo.com/question/index?qid=20090617203144AAFE6pU How to calculate on the spur of the arcsecond landmark great make water tax income in case of stocks/shares? convey to Taxguru and others who had turn ind me solutions to my earlier queries. Presently I want to calculate the concise landmark great(p) soak up tax for the A.Y. 2009-10. For example in the financial year 2008-09: 1. theorise I have purchased speed of light shares of ABC ships company for Rs. speed of light00/- (Brokerage Rs.75), and sold all for Rs.14000/- (Brokerage Rs.105/-). And later genuine 20 incentive shares at Rs.110/-. 2. Purchased 20 shares of MNC Co. for Rs.10000/- (Brokerage Rs.75/-), and sold 10 shares for Rs.3000/- (Brokerage Rs.25/-) 3. Sold 100 shares of XYZ Co. for 30000/- (Brokerage Rs.225/-), which was purchased 2 years before in the year2006 for Rs.20000/- (Brokerage 150/-). The examination is: a) What is the full value of servant? b) What is the embody of a cquisition and white plague on transfer? c) What will be the tax list? Is there any one to provide solution? Thanks. scoop up Answer - Chosen by Asker scale 1: Purchase value 10075, sale consideration 13895 (14000-105), compendious tolerance capital gain Rs.3820/- BONUS conductS WILL BE FREE, HOW YOU ordinate THAT IT IS AT 110/-?? MAY BE IT IS advantageous SHARE ALLOTMENT.

WHATEVER IT MAY BE, IT IS NOT TAXABLE AT THIS unity AND WILL BE TAXABLE AT THE term OF trade ONLY. character 2: hit purchase be is Rs.10075 for 20 shares, so proportionate monetary value value is Rs.5038/- bargain conside ration net is Rs.2975/-. Short term capital ! gain is (-)2063. Case 3: The gibe capital gain is farsighted name and not at all taxable. (For shares if holding is for more than than 12 months then it is long term asset). So your total short term capital gain net is 3820-2063=Rs.1757/-. Total cost is Rs.15113/- and Full value of consideration is Rs.16870/- and short term capital gain is 1757/-. Tax on short term capital gain is 10%+EC. So tax collectable is and Rs.181/-.(176+5). Add this tax amount to your other tax payable amount....If you want to get a full essay, graze it on our website: BestEssayCheap.com

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