POSTED BY February 4, 2013 5:22 pm COMMENTS (3)
ONHi
I work in a software company where my tax payments happen by deduction at source.
I do trading in stocks. For instant, I buy stocks at 50000 and sell at 70000 I get a profit of 20000 and how much do I need to pay taxes?
Will they deduct taxes automatically at the transaction or I need to pay taxes separately as in My Form 16 it would not reflect.
Because, it happened me. As I got some profit last year, but I did nt pay any taxes separately.
Could some one please throw light on this?
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Thanks Ashal,
Is that mean if I sell share within a year, they will deduct tax and give the rest of the money or do I need to pay the taxes later on March? Please clarify.
You will have to pay the tax yourself later !
Dear Kirubakaran, the holding period of your stocks ‘ll define your tax liability. If it’s less than 1Y, Tax rate ‘ll be 15.45%. For more than 1Y holding, the tax is zero. Yes the gains are tax free here.
So please confirm the holding period first.
Thanks
Ashal