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| Discuss Tax and shares at the Equities within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Hi Experts, First of all, sorry for posting almost off the topic query..but think ... |
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#1
29th December 2006, 03:12 PM
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Tax and shares
Hi Experts,
First of all, sorry for posting almost off the topic query..but think that this issue is for everybody and can help many of us. I heard that if we keep invested in any stock for more than an year, the income(from profit) on the selling of the share doesn't fall under taxable category...however, if the share is sold within an year with a profit, then the profit falls under taxable income category. Also, the loss incurred can be claimed for deduction of total taxable amount. Please clarify. Happy investing/trading. Birjubanarasi 
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#2
29th December 2006, 04:09 PM
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Re: Tax and shares
Hi,
Scrips sold within a year of purchase come under short term capital gain - tax of 10% on the profits. If you sell one year later there is no such tax head. But I doubt you can show losses incurred for tax deductions, at least I am not aware of that (I have many of them :-) )
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