direct tax code and small investors

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venkat1926

Member
#1
#1
some experts might have read the direct tax code issued recently by the Finance Minister. In this code the short term profits and long term profits will be included as income. This may not be much of a problem for intra day traders and professional traders as they even now include their short term gains (they do not play long term any way) in their income. But for small INVESTORS this is disadvantageous. At present we do not pay any tax for long term gains. Comments from some experts will be useful.
 
M

magnet

Active Member
#2
#2
venkat1926 said:
some experts might have read the direct tax code issued recently by the Finance Minister. In this code the short term profits and long term profits will be included as income. This may not be much of a problem for intra day traders and professional traders as they even now include their short term gains (they do not play long term any way) in their income. But for small INVESTORS this is disadvantageous. At present we do not pay any tax for long term gains. Comments from some experts will be useful.
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For small investor i dont think so......ya long term capital gain clause is surely bad...agreed...but for short term trading...if your profit along with all other incomes doesnt cross 10 lakhs...u are charged at 10% IT.....whereas right now we pay 15% STCG.....and if assessing officer think we are trader not investor....than 30% on profit.....at least small time investor will be charged at 10% what i got.....

Agreed experts?
 
bandlab2

bandlab2

Well-Known Member
#3
#3
investment ecisions should be based on the merit of the instrument, not tax implications. i have seen several guys losing money while waiting to complete 1 yr. take yr decisions based on when to buy/sell based on market conditions.. not 1 yr or less
 
M

magnet

Active Member
#4
#4
bandlab2 said:
investment ecisions should be based on the merit of the instrument, not tax implications. i have seen several guys losing money while waiting to complete 1 yr. take yr decisions based on when to buy/sell based on market conditions.. not 1 yr or less
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I agree on this
 
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