Need clarificaiton on Capital gain tax in trading !

[Agilent]

hi,
I wouldlike to know how do we calculate shortterm capitalgains tax.should
stcgt be calculated inclusive of brokrage commissions on buy/sell side or on
the profit after deducting commissions and stt.

Thats right : on yr profits after brokerage and STT

AGILENT

hi frnds even i hav a query, say my CG tax is Rs5000. What are the methods available to save tax. Is it purchasing capital gains bonds? any others. like salary incomes can recive deductions and benefits from NSC insurance policies, mutual funds etc? how is it possible to save tax here. assuming i dont have any other income.

Swagat

CG Bonds will help u save LTCG , not STCG.
I doubt if u can save (avoid/legally reduce) STCG

AGILENT

 

[aca_trader]

hi frnds even i hav a query, say my CG tax is Rs5000. What are the methods available to save tax. Is it purchasing capiatal gains bonds? any others. like salary incomes can recive deductions and benefits from NSC insurance policies, mutual funds etc? how is it possible to save tax here. assuming i dont have any other income.

A proper answer can be given only when the source of such CG is specified. You are requested to please specify the asset which was sold to generate this CG.

Best Regards,
--Ashish

 

[aca_trader]

hi,
I wouldlike to know how do we calculate shortterm capitalgains tax.should
stcgt be calculated inclusive of brokrage commissions on buy/sell side or on
the profit after deducting commissions and stt.

Ofcourse after deduction of Commission & STT and any other expese incurred to generate this STCG. However, analyze first if the income is taxable as STCG or Business Income.

Best Regards,
--Ashish

 

[swagat86]

A proper answer can be given only when the source of such CG is specified. You are requested to please specify the asset which was sold to generate this CG.

Best Regards,
--Ashish

If im a short term trader then in the markets in cash markets?

 

[aca_trader]

If im a short term trader then in the markets in cash markets?

In my opinion,most probably, it'll be a business income instead of STCG. You are requested to please revisit the case.

Best Regards,
--Ashish