Capital gain Tax on Stocks

POSTED BY Tarun Jain ON September 25, 2010 5:41 pm COMMENTS (2)

Do you pay capital gain Tax ?

How do you handle F&O and Short term Cash based Profit/Loss statement, i mean what proof you have to submit along with your returns?

What if you have long term capital gains on some stocks but you have not declared them during last year returns?

2 replies on this article “Capital gain Tax on Stocks”

  1. Tarun Jain says:

    annual ledger of demat account doesn’t state profit loss statement….

    suppose I have 10X,10Y,10Z stocks on 1st April 2010 in my portfolio from last year…. and on 31st March 2011, I have 10A,10Y,10C stocks.
    I also did intraday trades and short term trades on 100X,100Y,100Z,100A,100B,100C & other stocks.

    so my ques is how to calculate:
    Short term capital gain on X & Z stocks ( other than which were held from last year )…
    Short term capital gain on intraday & F& O stocks…
    Is 10 Y stock eligible as long term capital gain, as I also did trades in this stock during the year.?

  2. Do not hide any of your income. If your ITR comes under scrutiny, you’ll be in problem. Just attach your annual demat a/c statement along with your ITR, & pay the tax.

    And why are you worried about paying tax. Just sit with your CA & discuss with him how NOT to pay short term capital gain tax. 🙂

    Hope it will help you.
    MoneySavingsHelp

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