friends,
I am new to this field & having doubts abt the CG taxation issues.
Regarding the CGTax if I am right - 10 % of profit is charged as CGTax if shares are sold within one year. It is only applicable for profit sales.
1) My doubts r whether the CGtax will be deducted by the broker or we have pay it seperatly ?
2) I am using sharekhan - They reduce Turnover tax ( approx 10% on the net )amount - is it CGtax ?
3) also in IT returns what classification these trading comes ?
4) If I am doing a day trading, getting a profit of Rs 1000/- in one trade & losing Rs 2000/- in other trades - then what will be CG tax calculation ?
Will it on the profit of Rs 1000/- or net loss will be taken in account ?
Will be grateful for replies from seniors on this
I am new to this field & having doubts abt the CG taxation issues.
Regarding the CGTax if I am right - 10 % of profit is charged as CGTax if shares are sold within one year. It is only applicable for profit sales.
1) My doubts r whether the CGtax will be deducted by the broker or we have pay it seperatly ?
2) I am using sharekhan - They reduce Turnover tax ( approx 10% on the net )amount - is it CGtax ?
3) also in IT returns what classification these trading comes ?
4) If I am doing a day trading, getting a profit of Rs 1000/- in one trade & losing Rs 2000/- in other trades - then what will be CG tax calculation ?
Will it on the profit of Rs 1000/- or net loss will be taken in account ?
Will be grateful for replies from seniors on this